Media coverage about Essex Property Trust (NYSE:ESS) has been trending somewhat positive recently, according to Accern Sentiment Analysis. Accern identifies negative and positive press 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 one, with scores nearest to one being the most favorable. Essex Property Trust earned a media sentiment score of 0.13 on Accern’s scale. Accern also gave media stories about the real estate investment trust an impact score of 46.699282681243 out of 100, indicating that recent press coverage is somewhat unlikely to have an effect on the company’s share price in the next few days.
Here are some of the headlines that may have effected Accern Sentiment’s rankings:
- Brokers Offer Predictions for Essex Property Trust, Inc.’s FY2017 Earnings (ESS) (americanbankingnews.com)
- See what the IHS Markit Score report has to say about Essex Property Trust Inc. (finance.yahoo.com)
- Essex Property Trust, Inc. to Post Q3 2017 Earnings of $2.94 Per Share, SunTrust Banks Forecasts (ESS) (americanbankingnews.com)
- Colony Capital (CLNY) vs. Essex Property Trust (NYSE:ESS) Head to Head Review (americanbankingnews.com)
- Royal Bank Of Canada Reaffirms “Buy” Rating for Essex Property Trust, Inc. (ESS) (americanbankingnews.com)
Essex Property Trust (NYSE:ESS) traded up 0.61% during mid-day trading on Tuesday, hitting $265.08. 444,893 shares of the stock were exchanged. The stock’s 50-day moving average is $260.44 and its 200 day moving average is $246.50. The company has a market capitalization of $17.49 billion, a PE ratio of 34.09 and a beta of 0.52. Essex Property Trust has a 52 week low of $200.01 and a 52 week high of $268.97.
Essex Property Trust (NYSE:ESS) last posted its quarterly earnings results on Thursday, July 27th. The real estate investment trust reported $2.97 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.92 by $0.05. The company had revenue of $339.06 million during the quarter, compared to analyst estimates of $336.17 million. Essex Property Trust had a net margin of 38.33% and a return on equity of 8.03%. During the same quarter in the prior year, the business earned $2.74 earnings per share. On average, analysts anticipate that Essex Property Trust will post $5.95 EPS for the current year.
A number of brokerages have commented on ESS. Mizuho upgraded shares of Essex Property Trust from a “neutral” rating to a “buy” rating and increased their price target for the company from $199.00 to $212.00 in a research note on Monday, May 1st. Zacks Investment Research cut shares of Essex Property Trust from a “hold” rating to a “sell” rating in a research note on Tuesday, April 18th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $267.00 price target (up previously from $248.00) on shares of Essex Property Trust in a research note on Tuesday, May 16th. SunTrust Banks, Inc. cut shares of Essex Property Trust from a “buy” rating to a “hold” rating and set a $257.00 price target for the company. in a research note on Thursday, May 18th. They noted that the move was a valuation call. Finally, Canaccord Genuity set a $270.00 price target on shares of Essex Property Trust and gave the company a “hold” rating in a research note on Monday, July 31st. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and six have given a buy rating to the company. Essex Property Trust has a consensus rating of “Hold” and a consensus target price of $264.15.
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In related news, insider John D. Eudy sold 167 shares of the stock in a transaction dated Thursday, August 10th. The shares were sold at an average price of $263.97, for a total transaction of $44,082.99. Following the completion of the transaction, the insider now owns 8,597 shares in the company, valued at $2,269,350.09. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Michael J. Schall sold 333 shares of the stock in a transaction dated Thursday, August 10th. The shares were sold at an average price of $263.97, for a total transaction of $87,902.01. Following the transaction, the chief executive officer now owns 45,096 shares of the company’s stock, valued at approximately $11,903,991.12. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 6,690 shares of company stock valued at $1,717,142. 3.30% of the stock is owned by company insiders.
About Essex Property Trust
Essex Property Trust, Inc is a self-administered and self-managed real estate investment trust. The Company is engaged primarily in the ownership, operation, management, acquisition, development and redevelopment of predominantly apartment communities, located along the West Coast. Its segments include Southern California, Northern California, Seattle Metro and Other real estate assets.
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