News coverage about Essex Property Trust (NYSE:ESS) has been trending somewhat positive this week, according to Accern. Accern rates the sentiment of press coverage by analyzing more than twenty million news and blog sources. Accern ranks coverage of companies on a scale of negative one to positive one, with scores nearest to one being the most favorable. Essex Property Trust earned a media sentiment score of 0.16 on Accern’s scale. Accern also assigned media coverage about the real estate investment trust an impact score of 47.2980670866726 out of 100, meaning that recent press coverage is somewhat unlikely to have an effect on the company’s share price in the immediate future.
Here are some of the headlines that may have impacted Accern Sentiment’s rankings:
- Essex Property Trust Inc Expected to Post Q1 2018 Earnings of $3.02 Per Share (ESS) (americanbankingnews.com)
- Gary P. Martin Sells 500 Shares of Essex Property Trust Inc (ESS) Stock (americanbankingnews.com)
- Essex Property Trust’s (ESS) Hold Rating Reaffirmed at Jefferies Group (americanbankingnews.com)
- Essex Property Trust Inc (ESS) to Post Q1 2018 Earnings of $3.12 Per Share, DA Davidson Forecasts (americanbankingnews.com)
- Essex Property Trust (ESS) Lifted to “Neutral” at Mizuho (americanbankingnews.com)
Several equities analysts have issued reports on ESS shares. Royal Bank of Canada reissued a “buy” rating on shares of Essex Property Trust in a research note on Sunday, November 12th. Cantor Fitzgerald reissued a “buy” rating and issued a $279.00 price target on shares of Essex Property Trust in a research note on Wednesday, November 8th. Citigroup raised Essex Property Trust from a “neutral” rating to a “buy” rating and set a $280.00 price target on the stock in a research note on Thursday, December 14th. BTIG Research raised Essex Property Trust from a “neutral” rating to a “buy” rating and set a $273.00 price target on the stock in a research note on Wednesday, December 13th. Finally, Barclays reissued a “buy” rating and issued a $283.00 price target on shares of Essex Property Trust in a research note on Thursday, October 19th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. The company has an average rating of “Buy” and an average target price of $264.94.
Essex Property Trust (NYSE:ESS) last announced its quarterly earnings results on Wednesday, February 7th. The real estate investment trust reported $3.01 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $3.00 by $0.01. Essex Property Trust had a return on equity of 6.76% and a net margin of 31.75%. The business had revenue of $345.06 million during the quarter, compared to the consensus estimate of $346.50 million. During the same quarter in the prior year, the company posted $2.85 earnings per share. research analysts predict that Essex Property Trust will post 12.46 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, January 16th. Investors of record on Friday, December 29th were issued a dividend of $1.75 per share. The ex-dividend date was Thursday, December 28th. This represents a $7.00 annualized dividend and a yield of 3.11%. Essex Property Trust’s dividend payout ratio (DPR) is currently 106.38%.
In related news, CFO Angela L. Kleiman sold 600 shares of the company’s stock in a transaction on Monday, December 11th. The stock was sold at an average price of $247.16, for a total transaction of $148,296.00. Following the completion of the sale, the chief financial officer now owns 7,777 shares in the company, valued at $1,922,163.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP John D. Eudy sold 1,700 shares of the company’s stock in a transaction on Monday, December 11th. The stock was sold at an average price of $247.24, for a total value of $420,308.00. Following the sale, the executive vice president now owns 10,130 shares of the company’s stock, valued at approximately $2,504,541.20. The disclosure for this sale can be found here. Insiders have sold 8,602 shares of company stock valued at $2,115,430 in the last quarter. 3.30% of the stock is currently owned by corporate insiders.
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About Essex Property Trust
Essex Property Trust, Inc is a self-administered and self-managed real estate investment trust. The Company is engaged primarily in the ownership, operation, management, acquisition, development and redevelopment of predominantly apartment communities, located along the West Coast. Its segments include Southern California, Northern California, Seattle Metro and Other real estate assets.
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