Essex Property Trust Inc (ESS) to Post FY2019 Earnings of $12.65 Per Share, KeyCorp Forecasts

Essex Property Trust Inc (NYSE:ESS) – Investment analysts at KeyCorp issued their FY2019 earnings per share estimates for shares of Essex Property Trust in a research report issued on Tuesday. KeyCorp analyst A. Wurschmidt forecasts that the real estate investment trust will post earnings per share of $12.65 for the year.

A number of other brokerages also recently weighed in on ESS. BMO Capital Markets reaffirmed a “hold” rating and issued a $257.00 target price on shares of Essex Property Trust in a report on Monday, November 27th. Mitsubishi UFJ Financial Group reaffirmed a “neutral” rating on shares of Essex Property Trust in a report on Friday, November 3rd. Zacks Investment Research raised Essex Property Trust from a “hold” rating to a “buy” rating and set a $289.00 target price on the stock in a report on Tuesday, October 10th. Stifel Nicolaus initiated coverage on Essex Property Trust in a report on Friday, September 1st. They issued a “buy” rating and a $294.00 target price on the stock. Finally, Robert W. Baird reaffirmed a “buy” rating and issued a $273.00 target price on shares of Essex Property Trust in a report on Tuesday, September 12th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $271.19.

Shares of Essex Property Trust (NYSE ESS) traded up $1.82 during mid-day trading on Thursday, hitting $239.39. The company’s stock had a trading volume of 349,657 shares, compared to its average volume of 350,270. The firm has a market cap of $15,868.70, a P/E ratio of 29.96, a PEG ratio of 3.24 and a beta of 0.50. Essex Property Trust has a 52-week low of $218.41 and a 52-week high of $270.04. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.83 and a current ratio of 0.83.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 16th. Investors of record on Friday, December 29th will be given a dividend of $1.75 per share. This represents a $7.00 annualized dividend and a yield of 2.92%. The ex-dividend date of this dividend is Thursday, December 28th. Essex Property Trust’s dividend payout ratio is currently 87.61%.

In other news, CFO Angela L. Kleiman sold 600 shares of Essex Property Trust stock in a transaction dated Monday, December 11th. The stock was sold at an average price of $247.16, for a total value of $148,296.00. Following the completion of the transaction, the chief financial officer now directly owns 7,777 shares of the company’s stock, valued at approximately $1,922,163.32. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Michael J. Schall sold 333 shares of the business’s stock in a transaction dated Tuesday, October 10th. The shares were sold at an average price of $257.92, for a total value of $85,887.36. Following the completion of the sale, the chief executive officer now directly owns 45,096 shares of the company’s stock, valued at $11,631,160.32. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 10,269 shares of company stock valued at $2,558,882. 3.30% of the stock is owned by corporate insiders.

A number of hedge funds have recently added to or reduced their stakes in the business. Raymond James Financial Services Advisors Inc. boosted its stake in Essex Property Trust by 1.0% during the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 4,821 shares of the real estate investment trust’s stock valued at $1,240,000 after purchasing an additional 49 shares during the last quarter. Lazard Asset Management LLC boosted its stake in Essex Property Trust by 0.8% during the 2nd quarter. Lazard Asset Management LLC now owns 11,436 shares of the real estate investment trust’s stock valued at $2,942,000 after purchasing an additional 88 shares during the last quarter. Cambridge Investment Research Advisors Inc. boosted its stake in Essex Property Trust by 5.4% during the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 1,843 shares of the real estate investment trust’s stock valued at $474,000 after purchasing an additional 95 shares during the last quarter. Kemper Corp Master Retirement Trust boosted its stake in Essex Property Trust by 5.3% during the 2nd quarter. Kemper Corp Master Retirement Trust now owns 1,998 shares of the real estate investment trust’s stock valued at $514,000 after purchasing an additional 100 shares during the last quarter. Finally, Pacer Advisors Inc. boosted its stake in Essex Property Trust by 7.9% during the 2nd quarter. Pacer Advisors Inc. now owns 1,583 shares of the real estate investment trust’s stock valued at $407,000 after purchasing an additional 116 shares during the last quarter. Institutional investors and hedge funds own 97.14% of the company’s stock.

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About Essex Property Trust

Essex Property Trust, Inc is a self-administered and self-managed real estate investment trust. The Company is engaged primarily in the ownership, operation, management, acquisition, development and redevelopment of predominantly apartment communities, located along the West Coast. Its segments include Southern California, Northern California, Seattle Metro and Other real estate assets.

Earnings History and Estimates for Essex Property Trust (NYSE:ESS)

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