Essex Property Trust (NYSE:ESS) Issues Earnings Results, Beats Estimates By $2.52 EPS

Essex Property Trust (NYSE:ESS) announced its quarterly earnings results on Tuesday. The real estate investment trust reported $3.92 EPS for the quarter, beating analysts’ consensus estimates of $1.40 by $2.52, Zacks reports. Essex Property Trust had a net margin of 31.55% and a return on equity of 9.72%. Essex Property Trust updated its FY 2025 guidance to 15.560-16.060 EPS and its Q1 2025 guidance to 3.860-3.980 EPS.

Essex Property Trust Price Performance

Essex Property Trust stock traded up $1.81 during mid-day trading on Wednesday, hitting $288.95. 19,820 shares of the company were exchanged, compared to its average volume of 441,201. Essex Property Trust has a 12-month low of $223.06 and a 12-month high of $317.73. The business’s 50 day simple moving average is $287.79 and its two-hundred day simple moving average is $292.33. 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 company has a market capitalization of $18.57 billion, a P/E ratio of 33.65, a PEG ratio of 6.60 and a beta of 0.92.

Essex Property Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Thursday, January 2nd were paid a $2.45 dividend. This represents a $9.80 annualized dividend and a yield of 3.39%. The ex-dividend date of this dividend was Thursday, January 2nd. Essex Property Trust’s payout ratio is currently 114.49%.

Wall Street Analyst Weigh In

ESS has been the topic of several recent research reports. Raymond James downgraded shares of Essex Property Trust from an “outperform” rating to a “market perform” rating in a research report on Monday, October 21st. BMO Capital Markets upgraded shares of Essex Property Trust from a “market perform” rating to an “outperform” rating and reduced their target price for the stock from $323.00 to $310.00 in a research note on Monday, January 13th. JMP Securities restated a “market perform” rating on shares of Essex Property Trust in a research report on Thursday, January 16th. Deutsche Bank Aktiengesellschaft raised shares of Essex Property Trust from a “hold” rating to a “buy” rating and upped their price objective for the company from $308.00 to $310.00 in a report on Tuesday, January 21st. Finally, JPMorgan Chase & Co. downgraded shares of Essex Property Trust from a “neutral” rating to an “underweight” rating and increased their price target for the stock from $297.00 to $303.00 in a report on Tuesday, December 17th. 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’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target 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.