Essex Property Trust (NYSE:ESS) Receiving Somewhat Positive Press Coverage, Analysis Shows

News articles about Essex Property Trust (NYSE:ESS) have been trending somewhat positive this week, according to Accern Sentiment Analysis. Accern identifies negative and positive media coverage by analyzing more than 20 million news and blog sources in real-time. 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 news sentiment score of 0.24 on Accern’s scale. Accern also assigned media coverage about the real estate investment trust an impact score of 47.3441924466872 out of 100, indicating that recent media coverage is somewhat unlikely to have an impact on the company’s share price in the near term.

These are some of the headlines that may have impacted Accern’s scoring:

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Essex Property Trust stock traded down $2.58 during trading on Thursday, reaching $239.73. The company had a trading volume of 33,824 shares, compared to its average volume of 445,718. Essex Property Trust has a 1-year low of $214.03 and a 1-year high of $270.04. The stock has a market capitalization of $15,856.28, a P/E ratio of 20.35, a P/E/G ratio of 3.27 and a beta of 0.39. 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 released its quarterly earnings results on Wednesday, February 7th. The real estate investment trust reported $3.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.00 by $0.01. Essex Property Trust had a net margin of 31.75% and a return on equity of 6.76%. The firm had revenue of $345.06 million for the quarter, compared to analysts’ expectations of $346.50 million. During the same quarter last year, the company earned $2.85 EPS. sell-side analysts predict that Essex Property Trust will post 12.42 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 16th. Investors of record on Thursday, March 29th will be issued a $1.86 dividend. This is a positive change from Essex Property Trust’s previous quarterly dividend of $1.75. This represents a $7.44 annualized dividend and a yield of 3.10%. The ex-dividend date of this dividend is Wednesday, March 28th. Essex Property Trust’s payout ratio is 62.47%.

Several research analysts recently commented on ESS shares. Citigroup raised shares of Essex Property Trust from a “neutral” rating to a “buy” rating and set a $280.00 price target on the stock in a research note on Thursday, December 14th. BTIG Research raised shares of Essex Property Trust from a “neutral” rating to a “buy” rating and set a $273.00 price target on the stock in a research note on Wednesday, December 13th. SunTrust Banks upgraded shares of Essex Property Trust from a “hold” rating to a “buy” rating in a report on Monday, January 22nd. Cantor Fitzgerald set a $279.00 target price on shares of Essex Property Trust and gave the stock a “buy” rating in a report on Thursday, February 8th. Finally, Bank of America upgraded shares of Essex Property Trust from a “neutral” rating to a “buy” rating and increased their target price for the stock from $227.85 to $284.00 in a report on Tuesday, February 13th. One investment 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’s stock. The company presently has an average rating of “Buy” and an average price target of $264.25.

In related news, Director Gary P. Martin sold 500 shares of the company’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $223.43, for a total value of $111,715.00. Following the completion of the transaction, the director now directly owns 5,736 shares of the company’s stock, valued at $1,281,594.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Glenn Olnick sold 1,600,000 shares of the company’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $0.10, for a total value of $160,000.00. 3.30% of the stock is currently owned by insiders.

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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 247 apartment communities with an additional 7 properties in various stages of active development.

Insider Buying and Selling by Quarter for Essex Property Trust (NYSE:ESS)

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