Q1 2018 Earnings Forecast for Essex Property Trust Issued By Jefferies Group (ESS)

Essex Property Trust (NYSE:ESS) – Research analysts at Jefferies Group increased their Q1 2018 EPS estimates for Essex Property Trust in a report released on Thursday, April 12th. Jefferies Group analyst O. Okusanya now expects that the real estate investment trust will post earnings of $3.05 per share for the quarter, up from their previous estimate of $3.02. Jefferies Group has a “Hold” rating and a $252.00 price objective on the stock. Jefferies Group also issued estimates for Essex Property Trust’s FY2018 earnings at $12.56 EPS.

Several other research analysts have also recently weighed in on the stock. Sandler O’Neill restated a “hold” rating and set a $250.00 price target on shares of Essex Property Trust in a report on Tuesday, March 20th. SunTrust Banks cut shares of Essex Property Trust from a “buy” rating to a “hold” rating and boosted their price target for the stock from $241.99 to $253.00 in a report on Tuesday, March 20th. They noted that the move was a valuation call. JPMorgan Chase cut their price target on shares of Essex Property Trust from $281.00 to $277.00 and set an “overweight” rating on the stock in a report on Tuesday, March 6th. BMO Capital Markets upgraded shares of Essex Property Trust from a “market perform” rating to an “outperform” rating and boosted their price target for the stock from $250.00 to $255.00 in a report on Friday, March 2nd. They noted that the move was a valuation call. Finally, Cantor Fitzgerald set a $264.00 price target on shares of Essex Property Trust and gave the stock a “buy” rating in a report on Wednesday, February 21st. One analyst has rated the stock with a sell rating, nine have given a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. The company has an average rating of “Buy” and an average target price of $264.25.



Essex Property Trust stock opened at $242.99 on Friday. Essex Property Trust has a fifty-two week low of $214.03 and a fifty-two week high of $270.04. The stock has a market cap of $15,929.58, a P/E ratio of 20.40, a PEG ratio of 3.29 and a beta of 0.39. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.27 and a current ratio of 1.27.

Essex Property Trust (NYSE:ESS) last released its quarterly earnings results on Wednesday, February 7th. The real estate investment trust reported $3.01 earnings per share for the quarter, topping the consensus estimate of $3.00 by $0.01. Essex Property Trust had a net margin of 31.75% and a return on equity of 6.76%. The business had revenue of $345.06 million for the quarter, compared to analysts’ expectations of $346.50 million. During the same period in the previous year, the company earned $2.85 earnings per share.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 16th. Shareholders of record on Thursday, March 29th will be given a $1.86 dividend. This is a positive change from Essex Property Trust’s previous quarterly dividend of $1.75. The ex-dividend date is Wednesday, March 28th. This represents a $7.44 annualized dividend and a yield of 3.06%. Essex Property Trust’s payout ratio is currently 62.47%.

In other Essex Property Trust news, Director Gary P. Martin sold 500 shares of Essex Property Trust stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $223.43, for a total value of $111,715.00. Following the sale, the director now owns 5,736 shares of the company’s stock, valued at $1,281,594.48. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Glenn Olnick sold 1,600,000 shares of Essex Property Trust stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $0.10, for a total transaction of $160,000.00. Insiders own 3.30% of the company’s stock.

Hedge funds have recently made changes to their positions in the business. Wells Fargo & Company MN raised its position in shares of Essex Property Trust by 50.4% in the third quarter. Wells Fargo & Company MN now owns 71,138 shares of the real estate investment trust’s stock valued at $18,071,000 after purchasing an additional 23,841 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its position in shares of Essex Property Trust by 0.9% in the third quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 21,110 shares of the real estate investment trust’s stock valued at $5,363,000 after purchasing an additional 194 shares during the period. Vident Investment Advisory LLC bought a new stake in shares of Essex Property Trust in the third quarter valued at approximately $240,000. Janus Henderson Group PLC raised its position in shares of Essex Property Trust by 292.6% in the third quarter. Janus Henderson Group PLC now owns 469,858 shares of the real estate investment trust’s stock valued at $119,358,000 after purchasing an additional 350,192 shares during the period. Finally, Beacon Investment Advisory Services Inc. bought a new stake in shares of Essex Property Trust in the third quarter valued at approximately $200,000. 97.28% of the stock is currently owned by institutional investors and hedge funds.

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Essex Property Trust Company Profile

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 247 apartment communities with an additional 7 properties in various stages of active development.

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

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