Essex Property Trust Inc (NYSE:ESS) – Investment analysts at SunTrust Banks issued their Q1 2020 EPS estimates for Essex Property Trust in a research note issued to investors on Monday, February 4th. SunTrust Banks analyst M. Lewis anticipates that the real estate investment trust will earn $3.38 per share for the quarter. SunTrust Banks also issued estimates for Essex Property Trust’s Q2 2020 earnings at $3.52 EPS, Q3 2020 earnings at $3.49 EPS, Q4 2020 earnings at $3.46 EPS, FY2020 earnings at $13.85 EPS, FY2021 earnings at $14.08 EPS and FY2022 earnings at $14.36 EPS.
Essex Property Trust (NYSE:ESS) last issued its quarterly earnings data on Wednesday, January 30th. The real estate investment trust reported $3.19 earnings per share for the quarter, hitting analysts’ consensus estimates of $3.19. The business had revenue of $353.16 million during the quarter, compared to the consensus estimate of $351.76 million. Essex Property Trust had a net margin of 27.87% and a return on equity of 5.74%. During the same quarter in the prior year, the firm posted $3.01 earnings per share.
Shares of Essex Property Trust stock opened at $277.46 on Wednesday. The stock has a market capitalization of $18.29 billion, a price-to-earnings ratio of 22.07, a PEG ratio of 3.58 and a beta of 0.49. Essex Property Trust has a fifty-two week low of $216.45 and a fifty-two week high of $277.88. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.31 and a quick ratio of 1.31.
The business also recently announced a quarterly dividend, which was paid on Tuesday, January 15th. Stockholders of record on Wednesday, January 2nd were paid a dividend of $1.86 per share. The ex-dividend date was Monday, December 31st. This represents a $7.44 dividend on an annualized basis and a dividend yield of 2.68%. Essex Property Trust’s dividend payout ratio is currently 59.19%.
In related news, insider John D. Eudy sold 5,000 shares of the company’s stock in a transaction dated Friday, December 21st. The shares were sold at an average price of $256.98, for a total transaction of $1,284,900.00. Following the completion of the sale, the insider now owns 15,455 shares of the company’s stock, valued at approximately $3,971,625.90. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP John F. Burkart sold 332 shares of the company’s stock in a transaction dated Wednesday, December 19th. The shares were sold at an average price of $255.51, for a total transaction of $84,829.32. Following the sale, the executive vice president now directly owns 7,064 shares of the company’s stock, valued at approximately $1,804,922.64. The disclosure for this sale can be found here. Insiders have sold 6,494 shares of company stock valued at $1,670,643 in the last three months. Corporate insiders own 3.40% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Dean Investment Associates LLC grew its stake in Essex Property Trust by 1.1% during the 4th quarter. Dean Investment Associates LLC now owns 3,977 shares of the real estate investment trust’s stock valued at $975,000 after acquiring an additional 42 shares in the last quarter. Moody National Bank Trust Division grew its stake in shares of Essex Property Trust by 1.1% in the 4th quarter. Moody National Bank Trust Division now owns 5,324 shares of the real estate investment trust’s stock valued at $1,306,000 after buying an additional 56 shares during the period. Comerica Bank grew its stake in shares of Essex Property Trust by 0.3% in the 4th quarter. Comerica Bank now owns 22,468 shares of the real estate investment trust’s stock valued at $6,042,000 after buying an additional 59 shares during the period. GWM Advisors LLC grew its stake in shares of Essex Property Trust by 4.2% in the 4th quarter. GWM Advisors LLC now owns 1,793 shares of the real estate investment trust’s stock valued at $440,000 after buying an additional 72 shares during the period. Finally, Nissay Asset Management Corp Japan ADV grew its stake in shares of Essex Property Trust by 0.9% in the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 10,008 shares of the real estate investment trust’s stock valued at $2,454,000 after buying an additional 87 shares during the period. 96.81% of the stock is owned by institutional investors.
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. The Company currently has ownership interests in 248 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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