Essex Property Trust (ESS) Stock Price, News & Analysis

Company Overview

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.

Key Stats

• Today's Range: $304.63 to $309.14
• 50-Day Range: $276.97 to $315.15
• 52-Week Range: $210.36 to $317.73
• Volume: 213,711 shs
• Average Volume: 355,829 shs
• Market Capitalization: $19.64 billion
• P/E Ratio: 35.69
• Dividend Yield: 3.21%
• Price Target: $297.00
• Consensus Rating: Hold

Essex Property Trust Stock Analysis - MarketRank™

Essex Property Trust scored higher than 93% of companies evaluated by MarketBeat, and ranked 102nd out of 922 stocks in the finance sector. Scores are calculated by averaging available category scores, with extra weight given to analysis and valuation.

Analyst's Opinion

• Score: 2.1 / 5
• Analyst Rating: Hold

Consensus Rating

Essex Property Trust has received a consensus rating of Hold. The company's average rating score is 2.26, and is based on 6 buy ratings, 12 hold ratings, and 1 sell rating.

Amount of Analyst Coverage

Essex Property Trust has been the subject of 11 research reports in the past 90 days, demonstrating strong analyst interest in this stock.

Earnings and Valuation

• Score: 1.9 / 5
• Proj. Earnings Growth: 2.89%

Earnings Growth

Earnings for Essex Property Trust are expected to grow by 2.89% in the coming year, from $15.56 to $16.01 per share.

Price to Earnings Ratio vs. the Market

The P/E ratio of Essex Property Trust is 35.69, which means that it is trading at a less expensive P/E ratio than the market average P/E ratio of about 117.37.

Price to Earnings Ratio vs. Sector

The P/E ratio of Essex Property Trust is 35.69, which means that it is trading at a less expensive P/E ratio than the Finance sector average P/E ratio of about 39.16.

Price to Earnings Growth Ratio

Essex Property Trust has a PEG Ratio of 5.99. PEG Ratios above 1 indicate that a company could be overvalued.

Price to Book Value per Share Ratio

Essex Property Trust has a P/B Ratio of 3.49. P/B Ratios above 3 indicate that a company could be overvalued with respect to its assets and liabilities.

Short Interest

• Score: 4.0 / 5
• Short Interest Level: Healthy

Percentage of Shares Shorted

1.62% of the float of Essex Property Trust has been sold short.

Short Interest Ratio / Days to Cover

Essex Property Trust has a short interest ratio ("days to cover") of 2.8, which is generally considered an acceptable ratio of short interest to trading volume.

Change versus previous month

Short interest in Essex Property Trust has recently decreased by 0.96%, indicating that investor sentiment is improving.

Dividend

• Score: 3.3 / 5
• Dividend Strength: Strong

Dividend Yield

Essex Property Trust pays a meaningful dividend of 3.22%, higher than the bottom 25% of all stocks that pay dividends.

Dividend Growth

Essex Property Trust has been increasing its dividend for 30 years.

Dividend Coverage

The dividend payout ratio of Essex Property Trust is 114.49%. Payout ratios above 75% are not desirable because they may not be sustainable.

Dividend Sustainability

Based on earnings estimates, Essex Property Trust will have a dividend payout ratio of 61.21% next year. This indicates that Essex Property Trust will be able to sustain or increase its dividend.

Sustainability and ESG

• Score: 2.6 / 5
• Environmental Score: -2.72

Percentage of Shares Shorted

1.62% of the float of Essex Property Trust has been sold short.

Short Interest Ratio / Days to Cover

Essex Property Trust has a short interest ratio ("days to cover") of 2.8, which is generally considered an acceptable ratio of short interest to trading volume.

Change versus previous month

Short interest in Essex Property Trust has recently decreased by 0.96%, indicating that investor sentiment is improving.

News and Social Media

• Score: 3.4 / 5
• News Sentiment: 1.16

News Sentiment

Essex Property Trust has a news sentiment score of 1.16. This score is calculated as an average of sentiment of articles about the company over the last seven days and ranges from 2 (good news) to -2 (bad news). This is a higher news sentiment than the 0.82 average news sentiment score of Finance companies.

News Coverage This Week

MarketBeat has tracked 15 news articles for Essex Property Trust this week, compared to 8 articles on an average week.

Search Interest

Only 3 people have searched for ESS on MarketBeat in the last 30 days. This is a decrease of -63% compared to the previous 30 days.

MarketBeat Follows

35 people have added Essex Property Trust to their MarketBeat watchlist in the last 30 days. This is an increase of 192% compared to the previous 30 days.

Company Ownership

• Score: 2.5 / 5
• Insider Trading: Selling Shares

Insider Buying vs. Insider Selling

In the past three months, Essex Property Trust insiders have sold more of their company's stock than they have bought. Specifically, they have bought $0.00 in company stock and sold $6,399,663.00 in company stock.

Percentage Held by Insiders

Only 3.80% of the stock of Essex Property Trust is held by insiders.

Percentage Held by Institutions

96.51% of the stock of Essex Property Trust is held by institutions. High institutional ownership can be a signal of strong market trust in this company.

ESS Stock Analysis - Frequently Asked Questions

How have ESS shares performed this year?

Essex Property Trust's stock was trading at $247.94 at the beginning of the year. Since then, ESS stock has increased by 23.2% and is now trading at $305.53.
View the best growth stocks for 2024 here.

How were Essex Property Trust's earnings last quarter?

Essex Property Trust, Inc. (NYSE:ESS) issued its earnings results on Tuesday, October, 29th. The real estate investment trust reported $1.84 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.88 by $2.04. The real estate investment trust had revenue of $450.70 million for the quarter, compared to analyst estimates of $445.88 million. Essex Property Trust had a trailing twelve-month return on equity of 9.72% and a net margin of 31.55%.
Read the conference call transcript.

Who are Essex Property Trust's major shareholders?

Essex Property Trust's top institutional investors include State Street Corp (8.05%), Geode Capital Management LLC (2.69%), Principal Financial Group Inc. (2.22%) and Massachusetts Financial Services Co. MA (2.07%). Insiders that own company stock include Keith R Guericke, Angela L Kleiman, Amal M Johnson, Anne Morrison, John Farias, Michael J Schall, Adam W Berry and Barbara Pak.
View institutional ownership trends.

How do I buy shares of Essex Property Trust?

Shares of ESS stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include Charles Schwab, E*TRADE, Fidelity, and Vanguard Brokerage Services.
Compare Top Brokerages Here.

What other stocks do shareholders of Essex Property Trust own?

Based on aggregate information from My MarketBeat watchlists, some other companies that Essex Property Trust investors own include Waste Connections (WCN), The RMR Group (RMR), iShares Micro-Cap ETF (IWC), DiamondRock Hospitality (DRH), American Water Works (AWK), AUO (AUOTY) and Triple Flag Precious Metals (TFPM).

Company Calendar

• Ex-Dividend for 10/11 Dividend: 9/30/2024
• Dividend Payable: 10/11/2024
• Last Earnings: 10/29/2024
• Today: 11/23/2024
• Fiscal Year End: 12/31/2024
• Next Earnings (Estimated): 2/04/2025

Industry, Sector and Symbol

• Stock Exchange: NYSE
• Sector: Finance
• Industry: Real estate investment trusts
• Sub-Industry: Residential REITs
• Current Symbol: NYSE:ESS
• CUSIP: 29717810
• CIK: 920522
• Web: www.essexapartmenthomes.com
• Phone: (650) 655-7800
• Fax: 650-494-8743
• Employees: 1,750
• Year Founded: N/A

Price Target and Rating

• Average Stock Price Target: $297.00
• High Stock Price Target: $355.00
• Low Stock Price Target: $225.00
• Potential Upside/Downside: -2.8%
• Consensus Rating: Hold
• Rating Score (0-4): 2.26
• Research Coverage: 19 Analysts

Profitability

• EPS (Most Recent Fiscal Year): $8.56
• Trailing P/E Ratio: 35.68
• Forward P/E Ratio: 19.63
• P/E Growth: 5.94
• Net Income: $405.83 million
• Net Margins: 31.55%
• Pretax Margin: 33.30%
• Return on Equity: 9.72%
• Return on Assets: 4.36%

Debt

• Debt-to-Equity Ratio: 1.13
• Current Ratio: 1.14
• Quick Ratio: 1.14

Sales & Book Value

• Annual Sales: $1.67 billion
• Price / Sales: 11.76
• Cash Flow: $15.16 per share
• Price / Cash Flow: 20.15
• Book Value: $87.58 per share
• Price / Book: 3.49

Miscellaneous

• Outstanding Shares: 64,270,000
• Free Float: 61,825,000
• Market Cap: $19.63 billion
• Optionable: Optionable
• Beta: 0.88