Earnings results for Essex Property Trust (NYSE:ESS)
Essex Property Trust, Inc. is expected* to report earnings on 07/29/2021 after market close. The report will be for the fiscal Quarter ending Jun 2021. According to Zacks Investment Research, based on 8 analysts’ forecasts, the consensus EPS forecast for the quarter is $2.99. The reported EPS for the same quarter last year was $3.16.
Essex Property Trust last issued its quarterly earnings results on April 27th, 2021. The real estate investment trust reported $2.59 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.04 by $0.45. Essex Property Trust has generated $12.82 earnings per share over the last year and currently has a price-to-earnings ratio of 51.1. Essex Property Trust has confirmed that its next quarterly earnings report will be published on Thursday, July 29th, 2021. Essex Property Trust will be holding an earnings conference call on Friday, July 30th at 1:00 PM Eastern. Interested parties can register for or listen to the call using this link or dial in at 844-512-2921 with passcode “13721047”.
Analyst Opinion on Essex Property Trust (NYSE:ESS)
14 Wall Street analysts have issued ratings and price targets for Essex Property Trust in the last 12 months. Their average twelve-month price target is $302.93, predicting that the stock has a possible downside of 8.52%. The high price target for ESS is $351.00 and the low price target for ESS is $217.00. There are currently 7 hold ratings and 7 buy ratings for the stock, resulting in a consensus rating of “Buy.”
Essex Property Trust has received a consensus rating of Buy. The company’s average rating score is 2.50, and is based on 7 buy ratings, 7 hold ratings, and no sell ratings. According to analysts’ consensus price target of $302.93, Essex Property Trust has a forecasted downside of 8.5% from its current price of $331.14. Essex Property Trust has been the subject of 10 research reports in the past 90 days, demonstrating strong analyst interest in this stock.
Dividend Strength: Essex Property Trust (NYSE:ESS)
Essex Property Trust pays a meaningful dividend of 2.52%, higher than the bottom 25% of all stocks that pay dividends. Essex Property Trust has been increasing its dividend for 27 years. The dividend payout ratio of Essex Property Trust is 65.21%. This payout ratio is at a healthy, sustainable level, below 75%. Based on earnings estimates, Essex Property Trust will have a dividend payout ratio of 63.53% next year. This indicates that Essex Property Trust will be able to sustain or increase its dividend.
Insiders buying/selling: Essex Property Trust (NYSE:ESS)
In the past three months, Essex Property Trust insiders have sold more of their company’s stock than they have bought. Specifically, they have bought $0.00 in company stock and sold $4,059,432.00 in company stock. Only 3.80% of the stock of Essex Property Trust is held by insiders. 92.35% of the stock of Essex Property Trust is held by institutions. High institutional ownership can be a signal of strong market trust in this company.
Earnings and Valuation of Essex Property Trust (NYSE:ESS
Earnings for Essex Property Trust are expected to grow by 7.34% in the coming year, from $12.26 to $13.16 per share. The P/E ratio of Essex Property Trust is 51.10, which means that it is trading at a more expensive P/E ratio than the market average P/E ratio of about 22.48. The P/E ratio of Essex Property Trust is 51.10, which means that it is trading at a more expensive P/E ratio than the Finance sector average P/E ratio of about 18.90. Essex Property Trust has a PEG Ratio of 7.69. PEG Ratios above 1 indicate that a company could be overvalued. Essex Property Trust has a P/B Ratio of 3.49. P/B Ratios above 3 indicate that a company could be overvalued with respect to its assets and liabilities.
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