Research Analysts Offer Predictions for ESS FY2025 Earnings

Essex Property Trust, Inc. (NYSE:ESS - Free Report) - Research analysts at Wedbush dropped their FY2025 EPS estimates for Essex Property Trust in a report issued on Wednesday, November 6th. Wedbush analyst R. Anderson now forecasts that the real estate investment trust will post earnings of $16.08 per share for the year, down from their previous estimate of $16.44. Wedbush has a "Neutral" rating and a $301.00 price target on the stock. The consensus estimate for Essex Property Trust's current full-year earnings is $15.56 per share.

Several other equities research analysts also recently commented on ESS. The Goldman Sachs Group assumed coverage on Essex Property Trust in a report on Wednesday, September 4th. They issued a "neutral" rating and a $318.00 price objective for the company. Bank of America cut shares of Essex Property Trust from a "buy" rating to a "neutral" rating and raised their target price for the stock from $307.00 to $321.00 in a report on Tuesday, September 24th. Piper Sandler boosted their target price on shares of Essex Property Trust from $315.00 to $355.00 and gave the company an "overweight" rating in a research note on Monday, August 26th. JPMorgan Chase & Co. lifted their price objective on Essex Property Trust from $265.00 to $297.00 and gave the stock a "neutral" rating in a report on Monday, September 16th. Finally, Royal Bank of Canada increased their target price on Essex Property Trust from $284.00 to $288.00 and gave the company an "outperform" rating in a report on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $293.40.

Essex Property Trust Stock Up 2.7 %

NYSE ESS traded up $7.91 during mid-day trading on Friday, reaching $304.45. The stock had a trading volume of 130,421 shares, compared to its average volume of 380,241. The company has a fifty day moving average price of $297.44 and a 200 day moving average price of $280.77. The company has a debt-to-equity ratio of 1.13, a current ratio of 1.14 and a quick ratio of 1.14. Essex Property Trust has a 1 year low of $204.64 and a 1 year high of $317.73. The stock has a market cap of $19.57 billion, a PE ratio of 34.64, a price-to-earnings-growth ratio of 5.07 and a beta of 0.88.

Essex Property Trust (NYSE:ESS - Get Free Report) last announced its quarterly earnings results on Tuesday, October 29th. The real estate investment trust reported $1.84 EPS for the quarter, missing analysts' consensus estimates of $3.88 by ($2.04). Essex Property Trust had a return on equity of 9.72% and a net margin of 31.55%. The business had revenue of $450.70 million during the quarter, compared to analysts' expectations of $445.88 million. During the same period in the previous year, the business earned $3.78 EPS.

Essex Property Trust Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Monday, September 30th were issued a $2.45 dividend. The ex-dividend date was Monday, September 30th. This represents a $9.80 dividend on an annualized basis and a yield of 3.22%. Essex Property Trust's dividend payout ratio is currently 114.49%.

Insider Buying and Selling at Essex Property Trust

In related news, Director Amal M. Johnson sold 2,453 shares of the firm's stock in a transaction on Friday, August 30th. The shares were sold at an average price of $300.00, for a total value of $735,900.00. Following the completion of the transaction, the director now directly owns 2,585 shares of the company's stock, valued at approximately $775,500. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, CEO Angela L. Kleiman sold 8,080 shares of the stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $315.10, for a total value of $2,546,008.00. Following the sale, the chief executive officer now directly owns 9,494 shares of the company's stock, valued at $2,991,559.40. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Amal M. Johnson sold 2,453 shares of the business's stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $300.00, for a total value of $735,900.00. Following the transaction, the director now owns 2,585 shares of the company's stock, valued at $775,500. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 20,402 shares of company stock valued at $6,399,663 in the last 90 days. Insiders own 3.90% of the company's stock.

Hedge Funds Weigh In On Essex Property Trust

A number of large investors have recently bought and sold shares of ESS. Mirae Asset Global Investments Co. Ltd. lifted its stake in Essex Property Trust by 10.0% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 16,109 shares of the real estate investment trust's stock worth $3,625,000 after acquiring an additional 1,466 shares during the period. Nordea Investment Management AB boosted its position in Essex Property Trust by 6.5% during the 1st quarter. Nordea Investment Management AB now owns 4,381 shares of the real estate investment trust's stock valued at $1,071,000 after acquiring an additional 266 shares in the last quarter. Larson Financial Group LLC raised its position in shares of Essex Property Trust by 30,700.0% in the 1st quarter. Larson Financial Group LLC now owns 308 shares of the real estate investment trust's stock worth $75,000 after acquiring an additional 307 shares in the last quarter. Envestnet Portfolio Solutions Inc. lifted its stake in shares of Essex Property Trust by 17.3% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 15,117 shares of the real estate investment trust's stock worth $3,701,000 after purchasing an additional 2,233 shares during the last quarter. Finally, Empowered Funds LLC bought a new position in Essex Property Trust in the first quarter worth about $201,000. Hedge funds and other institutional investors own 96.51% of the company's stock.

About Essex Property Trust

Essex Property Trust, Inc, an S&P 500 company, is a fully integrated real estate investment trust (REIT) that acquires, develops, redevelops, and manages multifamily residential properties in selected West Coast markets. Essex currently has ownership interests in 252 apartment communities comprising approximately 62,000 apartment homes with an additional property in active development.