Essex Property Trust - ESS Stock Forecast, Price & News

21 Wall Street research analysts have issued "buy," "hold," and "sell" ratings for Essex Property Trust in the last year. There are currently 4 sell ratings, 11 hold ratings and 6 buy ratings for the stock. The consensus among Wall Street research analysts is that investors should "hold" ESS shares. A hold rating indicates that analysts believe investors should maintain any existing positions they have in ESS, but not buy additional shares or sell existing shares.
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21 analysts have issued 12-month target prices for Essex Property Trust's shares. Their ESS share price forecasts range from $208.00 to $320.00. On average, they expect the company's stock price to reach $253.86 in the next year. This suggests a possible upside of 24.3% from the stock's current price.
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Essex Property Trust's stock was trading at $211.92 at the beginning of 2023. Since then, ESS stock has decreased by 3.7% and is now trading at $204.18.
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Essex Property Trust saw a increase in short interest during the month of March. As of March 15th, there was short interest totaling 1,470,000 shares, an increase of 42.7% from the February 28th total of 1,030,000 shares. Based on an average daily trading volume, of 545,200 shares, the days-to-cover ratio is currently 2.7 days. Approximately 2.3% of the company's shares are sold short.
View Essex Property Trust's Short Interest.

The company is scheduled to release its next quarterly earnings announcement on Tuesday, April 25th 2023.
View our ESS earnings forecast.

Essex Property Trust, Inc. (NYSE:ESS) issued its earnings results on Tuesday, April, 26th. The real estate investment trust reported $1.12 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $3.35 by $2.23. Essex Property Trust had a net margin of 25.41% and a trailing twelve-month return on equity of 6.83%. During the same quarter in the prior year, the company earned $3.07 earnings per share.
Read the conference call transcript.

Essex Property Trust declared a quarterly dividend on Thursday, February 23rd. Stockholders of record on Friday, March 31st will be paid a dividend of $2.31 per share on Friday, April 14th. This represents a $9.24 dividend on an annualized basis and a dividend yield of 4.53%. The ex-dividend date of this dividend is Thursday, March 30th. This is an increase from the stock's previous quarterly dividend of $2.20.
Read our dividend analysis for ESS.

ETFs with the largest weight of Essex Property Trust (NYSE:ESS) stock in their portfolio include Kelly Residential & Apartment Real Estate ETF (RESI), Residential REIT Income ETF (HAUS), Nuveen Short-Term REIT ETF (NURE), iShares Residential and Multisector Real Estate ETF (REZ), Invesco S&P 500 Equal Weight Real Estate ETF (EWRE), Xtrackers S&P ESG Dividend Aristocrats ETF (SNPD), U.S. Diversified Real Estate ETF (PPTY) and iShares Cohen & Steers REIT ETF (ICF).

Essex Property Trust (NYSE:ESS) pays an annual dividend of $8.80 per share and currently has a dividend yield of 4.38%. ESS has a dividend yield higher than 75% of all dividend-paying stocks, making it a leading dividend payer. The company has been increasing its dividend for 30 consecutive years, indicating the company has a strong committment to maintain and grow its dividend. The dividend payout ratio is 140.13%. Payout ratios above 75% are not desirable because they may not be sustainable. Based on earnings estimates, ESS will have a dividend payout ratio of 57.37% next year. This indicates that the company will be able to sustain or increase its dividend.
Read our dividend analysis for ESS.

Essex Property Trust issued an update on its first quarter 2023 earnings guidance on Tuesday, February, 7th. The company provided EPS guidance of $3.51-$3.63 for the period, compared to the consensus EPS estimate of $3.71. The company issued revenue guidance of -.

236 employees have rated Essex Property Trust Chief Executive Officer Michael Schall on Glassdoor.com. Michael Schall has an approval rating of 95% among the company's employees. This puts Michael Schall in the top 30% of approval ratings compared to other CEOs of publicly-traded companies.

Based on aggregate information from My MarketBeat watchlists, some companies that other Essex Property Trust investors own include AT&T (T), Intel (INTC), Johnson & Johnson (JNJ), Cisco Systems (CSCO), Realty Income (O), AbbVie (ABBV), Simon Property Group (SPG), McDonald's (MCD), Crown Castle (CCI) and 3M (MMM).

Essex Property Trust trades on the New York Stock Exchange (NYSE) under the ticker symbol "ESS."

Essex Property Trust's stock is owned by a number of retail and institutional investors. Top institutional investors include Principal Financial Group Inc. (4.49%), Norges Bank (3.47%), Geode Capital Management LLC (2.23%), Price T Rowe Associates Inc. MD (1.65%), Legal & General Group Plc (1.43%) and Dimensional Fund Advisors LP (1.39%). Insiders that own company stock include Adam W Berry, Amal M Johnson, Angela L Kleiman, Barbara Pak, Byron A Scordelis, Irving F Lyons III, Irving F Lyons III, John Farias, Michael J Schall and Thomas E Robinson.
View institutional ownership trends.

Shares of ESS stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include WeBull, Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Robinhood, Fidelity, and Charles Schwab.
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One share of ESS stock can currently be purchased for approximately $204.18.

Essex Property Trust (NYSE:ESS) has a market capitalization of $13.16 billion and generates $1.61 billion in revenue each year. The real estate investment trust earns $408.32 million in net income (profit) each year or $6.28 on an earnings per share basis.

The company employs 1,772 workers across the globe.

Essex Property Trust's mailing address is 1100 PARK PLACE SUITE 200, SAN MATEO CA, 94403. The official website for the company is www.essexapartmenthomes.com. The real estate investment trust can be reached via phone at (650) 655-7800, via email at rburns@essex.com, or via fax at 650-494-8743.