Essex Property Trust (NYSE:ESS) Issues Earnings Results, Beats Estimates By $2.52 EPS

Essex Property Trust (NYSE:ESS) issued its quarterly earnings results on Tuesday. The real estate investment trust reported $3.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.40 by $2.52, Zacks reports. Essex Property Trust had a return on equity of 9.72% and a net margin of 31.55%. Essex Property Trust updated its FY 2025 guidance to 15.560-16.060 EPS and its Q1 2025 guidance to 3.860-3.980 EPS.

Essex Property Trust Price Performance

Shares of NYSE:ESS traded up $1.81 during trading on Wednesday, reaching $288.95. The stock had a trading volume of 19,820 shares, compared to its average volume of 441,201. Essex Property Trust has a 52 week low of $223.06 and a 52 week high of $317.73. The business’s 50-day moving average price is $287.79 and its 200 day moving average price is $292.33. The company has a debt-to-equity ratio of 1.13, a current ratio of 1.14 and a quick ratio of 1.14. The stock has a market capitalization of $18.57 billion, a PE ratio of 33.65, a P/E/G ratio of 6.60 and a beta of 0.92.

Essex Property Trust Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Thursday, January 2nd were paid a $2.45 dividend. This represents a $9.80 dividend on an annualized basis and a dividend yield of 3.39%. The ex-dividend date of this dividend was Thursday, January 2nd. Essex Property Trust’s dividend payout ratio (DPR) is currently 114.49%.

Analysts Set New Price Targets

Several research firms have weighed in on ESS. Deutsche Bank Aktiengesellschaft upgraded Essex Property Trust from a “hold” rating to a “buy” rating and raised their target price for the company from $308.00 to $310.00 in a report on Tuesday, January 21st. JMP Securities reaffirmed a “market perform” rating on shares of Essex Property Trust in a research report on Thursday, January 16th. Barclays lowered their price target on Essex Property Trust from $316.00 to $302.00 and set an “equal weight” rating on the stock in a research report on Friday, January 24th. Mizuho lowered their price target on Essex Property Trust from $325.00 to $300.00 and set an “outperform” rating on the stock in a research report on Monday, January 6th. Finally, Wells Fargo & Company lowered their price target on Essex Property Trust from $314.00 to $305.00 and set an “equal weight” rating on the stock in a research report on Friday, January 24th. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $304.32.

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 252 apartment communities comprising approximately 62,000 apartment homes with an additional property in active development.