Essex Property Trust (ESS) Projected to Post Earnings on Tuesday

Essex Property Trust (NYSE:ESS) is anticipated to announce its earnings results after the market closes on Tuesday, February 4th. Analysts expect the company to announce earnings of $1.40 per share and revenue of $449.86 million for the quarter. Investors that wish to listen to the company’s conference call can do so using this link.

Essex Property Trust Price Performance

ESS opened at $284.32 on Monday. Essex Property Trust has a 1 year low of $223.06 and a 1 year high of $317.73. The stock has a 50-day moving average price of $288.74 and a 200-day moving average price of $292.25. The company has a debt-to-equity ratio of 1.13, a current ratio of 1.14 and a quick ratio of 1.14. The firm has a market cap of $18.27 billion, a PE ratio of 33.22, a P/E/G ratio of 6.42 and a beta of 0.92.

Essex Property Trust Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Thursday, January 2nd were paid a dividend of $2.45 per share. The ex-dividend date of this dividend was Thursday, January 2nd. This represents a $9.80 dividend on an annualized basis and a dividend yield of 3.45%. Essex Property Trust’s dividend payout ratio is currently 114.49%.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on ESS shares. JPMorgan Chase & Co. cut Essex Property Trust from a “neutral” rating to an “underweight” rating and upped their price objective for the stock from $297.00 to $303.00 in a report on Tuesday, December 17th. BMO Capital Markets raised Essex Property Trust from a “market perform” rating to an “outperform” rating and cut their price objective for the company from $323.00 to $310.00 in a research report on Monday, January 13th. JMP Securities reissued a “market perform” rating on shares of Essex Property Trust in a research report on Thursday, January 16th. Raymond James downgraded Essex Property Trust from an “outperform” rating to a “market perform” rating in a research report on Monday, October 21st. Finally, Wells Fargo & Company dropped their price objective on Essex Property Trust from $314.00 to $305.00 and set an “equal weight” rating on the stock in a research report on Friday, January 24th. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, Essex Property Trust currently has an average rating of “Hold” and an average target price of $304.32.

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 252 apartment communities comprising approximately 62,000 apartment homes with an additional property in active development.