Essex Property Trust, Inc. Forecasted to Earn Q3 2017 Earnings of $2.97 Per Share (ESS)

Essex Property Trust, Inc. (NYSE:ESS) – Analysts at Jefferies Group issued their Q3 2017 earnings per share estimates for shares of Essex Property Trust in a research note issued to investors on Friday. Jefferies Group analyst O. Okusanya anticipates that the real estate investment trust will earn $2.97 per share for the quarter. Jefferies Group currently has a “Neutral” rating on the stock. Jefferies Group also issued estimates for Essex Property Trust’s Q4 2017 earnings at $3.00 EPS, FY2018 earnings at $12.50 EPS and FY2019 earnings at $13.14 EPS.

Essex Property Trust (NYSE:ESS) last posted its quarterly earnings data on Thursday, July 27th. The real estate investment trust reported $2.97 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.92 by $0.05. The business had revenue of $339.06 million during the quarter, compared to the consensus estimate of $336.17 million. Essex Property Trust had a net margin of 38.33% and a return on equity of 8.03%. During the same period in the prior year, the firm earned $2.74 EPS.

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A number of other equities analysts also recently weighed in on ESS. Royal Bank Of Canada restated an “outperform” rating and set a $267.00 target price (up from $248.00) on shares of Essex Property Trust in a report on Tuesday, May 16th. SunTrust Banks, Inc. downgraded shares of Essex Property Trust from a “buy” rating to a “hold” rating and set a $257.00 target price on the stock. in a report on Thursday, May 18th. They noted that the move was a valuation call. BMO Capital Markets set a $255.00 target price on shares of Essex Property Trust and gave the stock a “hold” rating in a report on Thursday, May 25th. Evercore ISI downgraded shares of Essex Property Trust from an “in-line” rating to an “underperform” rating and set a $261.00 target price on the stock. in a report on Monday, June 12th. Finally, BidaskClub upgraded shares of Essex Property Trust from a “buy” rating to a “strong-buy” rating in a report on Tuesday, June 20th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. The company has an average rating of “Hold” and an average price target of $267.57.

Shares of Essex Property Trust (NYSE ESS) opened at 266.58 on Monday. The company’s 50 day moving average is $264.08 and its 200 day moving average is $250.99. Essex Property Trust has a 12-month low of $200.01 and a 12-month high of $268.97. The company has a market capitalization of $17.59 billion, a P/E ratio of 34.28 and a beta of 0.53.

Institutional investors have recently made changes to their positions in the company. Legal & General Group Plc boosted its position in shares of Essex Property Trust by 7.1% in the first quarter. Legal & General Group Plc now owns 495,852 shares of the real estate investment trust’s stock valued at $114,806,000 after acquiring an additional 33,007 shares during the period. BlueCrest Capital Management Ltd bought a new stake in shares of Essex Property Trust in the first quarter valued at about $438,000. LMR Partners LLP boosted its position in shares of Essex Property Trust by 15.7% in the second quarter. LMR Partners LLP now owns 3,263 shares of the real estate investment trust’s stock valued at $840,000 after acquiring an additional 443 shares during the period. Comerica Bank boosted its position in shares of Essex Property Trust by 3.0% in the first quarter. Comerica Bank now owns 18,878 shares of the real estate investment trust’s stock valued at $4,558,000 after acquiring an additional 555 shares during the period. Finally, NN Investment Partners Holdings N.V. boosted its position in shares of Essex Property Trust by 4.0% in the second quarter. NN Investment Partners Holdings N.V. now owns 240,093 shares of the real estate investment trust’s stock valued at $61,769,000 after acquiring an additional 9,300 shares during the period. 99.55% of the stock is owned by institutional investors.

In other news, insider John D. Eudy sold 166 shares of the business’s stock in a transaction dated Wednesday, July 12th. The shares were sold at an average price of $253.79, for a total value of $42,129.14. Following the completion of the sale, the insider now owns 8,596 shares of the company’s stock, valued at $2,181,578.84. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Michael J. Schall sold 333 shares of the business’s stock in a transaction dated Monday, July 10th. The shares were sold at an average price of $256.06, for a total transaction of $85,267.98. Following the completion of the sale, the insider now directly owns 45,096 shares of the company’s stock, valued at approximately $11,547,281.76. The disclosure for this sale can be found here. In the last three months, insiders sold 11,147 shares of company stock valued at $2,955,357. 3.30% of the stock is currently owned by company insiders.

Essex Property Trust Company Profile

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.

Earnings History and Estimates for Essex Property Trust (NYSE:ESS)

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