Media coverage about Essex Property Trust (NYSE:ESS) has been trending somewhat positive recently, Accern reports. Accern identifies negative and positive news coverage by analyzing more than 20 million blog and news sources. Accern ranks coverage of public companies on a scale of negative one to positive one, with scores closest to one being the most favorable. Essex Property Trust earned a coverage optimism score of 0.20 on Accern’s scale. Accern also gave news headlines about the real estate investment trust an impact score of 47.3888152827165 out of 100, meaning that recent news coverage is somewhat unlikely to have an impact on the stock’s share price in the immediate future.
Here are some of the news stories that may have impacted Accern Sentiment’s rankings:
ESS has been the topic of a number of recent research reports. JMP Securities reiterated a “hold” rating on shares of Essex Property Trust in a report on Wednesday, December 27th. Citigroup upgraded Essex Property Trust to an “overweight” rating and lifted their price target for the stock from $253.00 to $278.00 in a report on Wednesday, January 3rd. They noted that the move was a valuation call. Mitsubishi UFJ Financial Group upgraded Essex Property Trust from a “neutral” rating to an “overweight” rating in a report on Wednesday, January 3rd. Raymond James Financial reiterated an “underperform” rating on shares of Essex Property Trust in a report on Monday, January 8th. Finally, BMO Capital Markets reissued a “hold” rating and issued a $250.00 target price on shares of Essex Property Trust in a research report on Tuesday, January 9th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. Essex Property Trust has a consensus rating of “Buy” and an average target price of $264.25.
NYSE:ESS traded up $3.91 during trading hours on Tuesday, hitting $246.36. 306,290 shares of the company’s stock traded hands, compared to its average volume of 437,747. The firm has a market capitalization of $16,047.13, a price-to-earnings ratio of 20.69, a P/E/G ratio of 3.31 and a beta of 0.38. Essex Property Trust has a 52 week low of $214.03 and a 52 week high of $270.04. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.27 and a current ratio of 1.27.
Essex Property Trust (NYSE:ESS) last posted its quarterly earnings data on Wednesday, February 7th. The real estate investment trust reported $3.01 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $3.00 by $0.01. Essex Property Trust had a return on equity of 6.76% and a net margin of 31.75%. The company had revenue of $345.06 million during the quarter, compared to analyst estimates of $346.50 million. During the same quarter last year, the company earned $2.85 earnings per share. equities analysts forecast that Essex Property Trust will post 12.43 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Monday, April 16th. Stockholders of record on Thursday, March 29th were paid a $1.86 dividend. This represents a $7.44 dividend on an annualized basis and a dividend yield of 3.02%. The ex-dividend date of this dividend was Wednesday, March 28th. This is a positive change from Essex Property Trust’s previous quarterly dividend of $1.75. Essex Property Trust’s payout ratio is 62.47%.
In related news, Director Gary P. Martin sold 500 shares of the business’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $223.43, for a total transaction of $111,715.00. Following the transaction, the director now owns 5,736 shares in the company, valued at approximately $1,281,594.48. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Glenn Olnick sold 1,600,000 shares of the business’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $0.10, for a total value of $160,000.00. Insiders own 3.40% of the company’s stock.
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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. Essex currently has ownership interests in 247 apartment communities with an additional 7 properties in various stages of active development.
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