Essex Property Trust (ESS) Scheduled to Post Quarterly Earnings on Monday

Essex Property Trust (NYSE:ESS) will be announcing its earnings results after the market closes on Monday, August 3rd. Analysts expect the company to announce earnings of $3.30 per share for the quarter. Investors that are interested in registering for the company’s conference call can do so using this link.

Essex Property Trust (NYSE:ESS) last issued its quarterly earnings data on Wednesday, May 6th. The real estate investment trust reported $4.76 earnings per share for the quarter, topping the Zacks’ consensus estimate of $3.40 by $1.36. The business had revenue of $392.37 million during the quarter, compared to analysts’ expectations of $383.23 million. Essex Property Trust had a net margin of 42.47% and a return on equity of 9.94%. During the same period last year, the company posted $3.23 EPS. On average, analysts expect Essex Property Trust to post $13 EPS for the current fiscal year and $14 EPS for the next fiscal year.

ESS stock opened at $220.74 on Friday. The stock has a market capitalization of $14.44 billion, a P/E ratio of 22.95, a PEG ratio of 6.08 and a beta of 0.67. The company has a debt-to-equity ratio of 1.01, a quick ratio of 1.64 and a current ratio of 1.64. Essex Property Trust has a one year low of $175.81 and a one year high of $334.17. The company has a 50 day moving average price of $229.73 and a two-hundred day moving average price of $256.98.

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were paid a $2.0775 dividend. The ex-dividend date of this dividend was Monday, June 29th. This represents a $8.31 annualized dividend and a yield of 3.76%. Essex Property Trust’s payout ratio is currently 62.11%.

Several research firms have commented on ESS. Royal Bank of Canada reaffirmed a “hold” rating on shares of Essex Property Trust in a research note on Tuesday, July 21st. Piper Sandler lowered their target price on shares of Essex Property Trust from $265.00 to $255.00 and set an “overweight” rating for the company in a research note on Monday, July 27th. Citigroup lowered their target price on shares of Essex Property Trust from $320.00 to $210.00 and set a “neutral” rating for the company in a research note on Tuesday, April 7th. Stifel Nicolaus lifted their target price on shares of Essex Property Trust from $248.00 to $270.00 and gave the stock a “buy” rating in a research note on Friday, May 8th. Finally, Raymond James cut shares of Essex Property Trust from a “market perform” rating to an “underperform” rating in a research note on Friday, June 12th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and six have given a buy rating to the company’s stock. Essex Property Trust has a consensus rating of “Hold” and a consensus price target of $290.54.

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 245 apartment communities with an additional 6 properties in various stages of active development.

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Earnings History for Essex Property Trust (NYSE:ESS)

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