Essex Property Trust (ESS) Scheduled to Post Earnings on Tuesday

Essex Property Trust (NYSE:ESS) is scheduled to be issuing its quarterly earnings data after the market closes on Tuesday, April 30th. Analysts expect the company to announce earnings of $3.74 per share for the quarter. Investors interested in listening to the company’s conference call can do so using this link.

Essex Property Trust Stock Performance

Shares of ESS stock opened at $239.89 on Tuesday. The company has a debt-to-equity ratio of 1.11, a quick ratio of 3.26 and a current ratio of 3.26. Essex Property Trust has a fifty-two week low of $203.85 and a fifty-two week high of $252.85. The stock has a 50 day moving average price of $237.58 and a two-hundred day moving average price of $231.20. The company has a market capitalization of $15.40 billion, a P/E ratio of 38.02, a PEG ratio of 3.47 and a beta of 0.80.

Essex Property Trust Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 12th. Shareholders of record on Friday, March 29th were given a $2.45 dividend. The ex-dividend date was Wednesday, March 27th. This represents a $9.80 annualized dividend and a yield of 4.09%. This is an increase from Essex Property Trust’s previous quarterly dividend of $2.31. Essex Property Trust’s payout ratio is presently 155.31%.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on ESS shares. Mizuho upgraded Essex Property Trust from a “neutral” rating to a “buy” rating and lowered their price objective for the company from $255.00 to $250.00 in a research report on Wednesday, February 28th. Jefferies Financial Group upgraded Essex Property Trust from a “hold” rating to a “buy” rating and boosted their price objective for the company from $215.00 to $281.00 in a research report on Tuesday, January 2nd. Truist Financial reduced their target price on Essex Property Trust from $259.00 to $255.00 and set a “hold” rating on the stock in a research note on Tuesday, April 9th. Barclays boosted their target price on Essex Property Trust from $224.00 to $225.00 and gave the company an “underweight” rating in a research note on Tuesday, February 20th. Finally, Morgan Stanley boosted their target price on Essex Property Trust from $227.00 to $230.00 and gave the company an “equal weight” rating in a research note on Monday, February 26th. Four equities research analysts have rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $245.37.

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.