Wedbush Forecasts Weaker Earnings for Essex Property Trust

Essex Property Trust, Inc. (NYSE:ESS) – Equities researchers at Wedbush dropped their FY2025 earnings estimates for shares of Essex Property Trust in a note issued to investors on Monday, February 10th. Wedbush analyst R. Anderson now expects that the real estate investment trust will post earnings per share of $15.94 for the year, down from their previous forecast of $16.08. The consensus estimate for Essex Property Trust’s current full-year earnings is $15.96 per share. Wedbush also issued estimates for Essex Property Trust’s FY2026 earnings at $16.54 EPS.

Several other brokerages have also issued reports on ESS. Royal Bank of Canada boosted their price objective on Essex Property Trust from $302.00 to $315.00 and gave the company an “outperform” rating in a research report on Thursday, February 6th. BMO Capital Markets upgraded shares of Essex Property Trust from a “market perform” rating to an “outperform” rating and reduced their price target for the company from $323.00 to $310.00 in a report on Monday, January 13th. Deutsche Bank Aktiengesellschaft raised shares of Essex Property Trust from a “hold” rating to a “buy” rating and increased their price objective for the stock from $308.00 to $310.00 in a research report on Tuesday, January 21st. Wells Fargo & Company reduced their target price on shares of Essex Property Trust from $314.00 to $305.00 and set an “equal weight” rating for the company in a research note on Friday, January 24th. Finally, Raymond James downgraded Essex Property Trust from an “outperform” rating to a “market perform” rating in a research note on Monday, October 21st. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $306.53.

Essex Property Trust Stock Up 0.1 %

NYSE:ESS opened at $291.36 on Wednesday. Essex Property Trust has a 1 year low of $223.06 and a 1 year high of $317.73. The stock has a 50-day moving average price of $286.52 and a two-hundred day moving average price of $292.52. The stock has a market cap of $18.73 billion, a price-to-earnings ratio of 25.25, a PEG ratio of 6.93 and a beta of 0.92. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 1.15.

Essex Property Trust (NYSE:ESS) last announced its quarterly earnings results on Tuesday, February 4th. The real estate investment trust reported $3.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.40 by $2.52. Essex Property Trust had a net margin of 41.79% and a return on equity of 13.05%.

Essex Property Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Thursday, January 2nd were given a $2.45 dividend. This represents a $9.80 dividend on an annualized basis and a dividend yield of 3.36%. The ex-dividend date of this dividend was Thursday, January 2nd. Essex Property Trust’s dividend payout ratio (DPR) is presently 84.92%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. Legacy Wealth Asset Management LLC lifted its stake in Essex Property Trust by 4.7% in the 3rd quarter. Legacy Wealth Asset Management LLC now owns 775 shares of the real estate investment trust’s stock valued at $229,000 after purchasing an additional 35 shares during the last quarter. CWA Asset Management Group LLC lifted its position in shares of Essex Property Trust by 5.0% in the fourth quarter. CWA Asset Management Group LLC now owns 803 shares of the real estate investment trust’s stock valued at $229,000 after buying an additional 38 shares during the last quarter. Empowered Funds LLC lifted its position in shares of Essex Property Trust by 3.3% in the fourth quarter. Empowered Funds LLC now owns 1,195 shares of the real estate investment trust’s stock valued at $338,000 after buying an additional 38 shares during the last quarter. UMB Bank n.a. boosted its stake in shares of Essex Property Trust by 37.5% during the 4th quarter. UMB Bank n.a. now owns 154 shares of the real estate investment trust’s stock worth $44,000 after acquiring an additional 42 shares during the period. Finally, Miracle Mile Advisors LLC increased its holdings in shares of Essex Property Trust by 0.3% during the 4th quarter. Miracle Mile Advisors LLC now owns 14,157 shares of the real estate investment trust’s stock worth $4,041,000 after acquiring an additional 46 shares during the last quarter. 96.51% of the stock is currently owned by institutional investors and hedge funds.

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.