Essex Property Trust (NYSE:ESS – Get Free Report) updated its FY24 earnings guidance on Tuesday. The company provided EPS guidance of $15.03-$15.43 for the period, compared to the consensus EPS estimate of $15.17.
Wall Street Analysts Forecast Growth
Several research analysts have commented on the stock. Piper Sandler reaffirmed an overweight rating and set a $291.00 price objective on shares of Essex Property Trust in a research note on Tuesday, March 26th. Morgan Stanley lifted their price target on shares of Essex Property Trust from $227.00 to $230.00 and gave the stock an equal weight rating in a research note on Monday, February 26th. Raymond James raised shares of Essex Property Trust from a market perform rating to an outperform rating and set a $265.00 price objective on the stock in a research report on Monday, March 18th. Mizuho upgraded Essex Property Trust from a neutral rating to a buy rating and dropped their target price for the company from $255.00 to $250.00 in a research report on Wednesday, February 28th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on Essex Property Trust in a report on Tuesday, January 30th. They issued a hold rating and a $240.00 price target on the stock. Four investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the stock. According to MarketBeat, Essex Property Trust presently has an average rating of Hold and an average price target of $246.16.
Get Our Latest Stock Report on Essex Property Trust
Essex Property Trust Stock Performance
Essex Property Trust Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 12th. Shareholders of record on Friday, March 29th were issued a $2.45 dividend. This represents a $9.80 dividend on an annualized basis and a yield of 3.98%. The ex-dividend date of this dividend was Wednesday, March 27th. This is a positive change from Essex Property Trust’s previous quarterly dividend of $2.31. Essex Property Trust’s payout ratio is currently 155.31%.
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.
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