Essex Property Trust Inc (NYSE:ESS) – Analysts at DA Davidson issued their Q1 2019 earnings per share (EPS) estimates for Essex Property Trust in a research report issued to clients and investors on Tuesday, October 30th. DA Davidson analyst J. Lykins forecasts that the real estate investment trust will post earnings of $3.22 per share for the quarter. DA Davidson has a “Neutral” rating on the stock. DA Davidson also issued estimates for Essex Property Trust’s Q2 2019 earnings at $3.27 EPS, Q3 2019 earnings at $3.28 EPS and Q4 2019 earnings at $3.29 EPS.
Essex Property Trust (NYSE:ESS) last issued its quarterly earnings data on Monday, October 29th. The real estate investment trust reported $1.22 EPS for the quarter, missing the consensus estimate of $3.14 by ($1.92). The firm had revenue of $350.92 million for the quarter, compared to analysts’ expectations of $351.58 million. Essex Property Trust had a net margin of 27.01% and a return on equity of 5.52%. During the same period in the prior year, the firm posted $2.98 EPS.
ESS stock opened at $255.64 on Wednesday. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.85 and a quick ratio of 1.85. Essex Property Trust has a one year low of $214.03 and a one year high of $264.07. The company has a market capitalization of $16.37 billion, a price-to-earnings ratio of 21.46, a P/E/G ratio of 3.34 and a beta of 0.29.
Hedge funds and other institutional investors have recently modified their holdings of the business. BlackRock Inc. grew its position in shares of Essex Property Trust by 1.3% in the 2nd quarter. BlackRock Inc. now owns 6,812,124 shares of the real estate investment trust’s stock worth $1,628,574,000 after buying an additional 90,298 shares during the period. Daiwa Securities Group Inc. grew its position in shares of Essex Property Trust by 26.4% in the 2nd quarter. Daiwa Securities Group Inc. now owns 1,683,424 shares of the real estate investment trust’s stock worth $402,457,000 after buying an additional 351,324 shares during the period. Cbre Clarion Securities LLC grew its position in shares of Essex Property Trust by 59.4% in the 2nd quarter. Cbre Clarion Securities LLC now owns 1,377,419 shares of the real estate investment trust’s stock worth $329,300,000 after buying an additional 513,352 shares during the period. Bank of Montreal Can grew its position in shares of Essex Property Trust by 1.9% in the 3rd quarter. Bank of Montreal Can now owns 1,062,476 shares of the real estate investment trust’s stock worth $262,123,000 after buying an additional 20,073 shares during the period. Finally, Dimensional Fund Advisors LP grew its position in shares of Essex Property Trust by 1.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,005,382 shares of the real estate investment trust’s stock worth $240,351,000 after buying an additional 16,077 shares during the period. Institutional investors and hedge funds own 96.22% of the company’s stock.
In other Essex Property Trust news, insider John D. Eudy sold 1,834 shares of the company’s stock in a transaction on Wednesday, October 24th. The shares were sold at an average price of $252.13, for a total value of $462,406.42. Following the completion of the transaction, the insider now directly owns 11,486 shares in the company, valued at approximately $2,895,965.18. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Michael J. Schall sold 3,012 shares of the company’s stock in a transaction on Wednesday, October 24th. The stock was sold at an average price of $252.63, for a total transaction of $760,921.56. Following the completion of the transaction, the chief executive officer now owns 47,997 shares of the company’s stock, valued at $12,125,482.11. The disclosure for this sale can be found here. Insiders have sold a total of 5,763 shares of company stock valued at $1,445,557 over the last quarter. 3.40% of the stock is currently owned by company insiders.
The company also recently declared a quarterly dividend, which was paid on Friday, October 12th. Investors of record on Friday, September 28th were issued a dividend of $1.86 per share. The ex-dividend date of this dividend was Thursday, September 27th. This represents a $7.44 dividend on an annualized basis and a yield of 2.91%. Essex Property Trust’s dividend payout ratio is currently 62.47%.
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. The Company currently has ownership interests in 247 apartment communities comprising approximately 60,000 apartment homes, excluding six properties in various stages of active development, one commercial building, preferred equity co-investments, and loan investments.
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