Essex Property Trust (NYSE:ESS – Get Free Report) announced its quarterly earnings data on Tuesday. The real estate investment trust reported $1.84 EPS for the quarter, missing analysts’ consensus estimates of $3.88 by ($2.04), Zacks reports. Essex Property Trust had a net margin of 31.55% and a return on equity of 9.72%. The firm had revenue of $450.70 million during the quarter, compared to analyst estimates of $445.88 million. During the same quarter in the previous year, the business earned $3.78 EPS.
Essex Property Trust Trading Down 1.9 %
Shares of ESS traded down $5.26 during trading hours on Friday, hitting $278.60. The stock had a trading volume of 305,712 shares, compared to its average volume of 378,772. Essex Property Trust has a 12-month low of $204.64 and a 12-month high of $317.73. The firm has a market cap of $17.89 billion, a P/E ratio of 32.37, a P/E/G ratio of 5.32 and a beta of 0.88. The company has a debt-to-equity ratio of 1.13, a quick ratio of 1.62 and a current ratio of 1.62. The company’s fifty day simple moving average is $298.24 and its 200 day simple moving average is $279.01.
Essex Property Trust Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Monday, September 30th were paid a dividend of $2.45 per share. The ex-dividend date of this dividend was Monday, September 30th. This represents a $9.80 annualized dividend and a dividend yield of 3.52%. Essex Property Trust’s dividend payout ratio is presently 114.49%.
Insider Buying and Selling at Essex Property Trust
Analysts Set New Price Targets
A number of analysts recently weighed in on ESS shares. The Goldman Sachs Group assumed coverage on Essex Property Trust in a research note on Wednesday, September 4th. They issued a “neutral” rating and a $318.00 price target on the stock. UBS Group boosted their price objective on shares of Essex Property Trust from $261.00 to $283.00 and gave the stock a “neutral” rating in a report on Thursday, July 18th. Scotiabank increased their target price on shares of Essex Property Trust from $309.00 to $329.00 and gave the company a “sector outperform” rating in a report on Monday, September 16th. Truist Financial boosted their price target on Essex Property Trust from $282.00 to $294.00 and gave the stock a “hold” rating in a research note on Tuesday, August 27th. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on Essex Property Trust from $240.00 to $308.00 and gave the company a “hold” rating in a research note on Tuesday, September 10th. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $293.40.
Check Out Our Latest Analysis on Essex Property Trust
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 252 apartment communities comprising approximately 62,000 apartment homes with an additional property in active development.
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