Essex Property Trust (ESS) Receives News Sentiment Score of 0.15

Media headlines about Essex Property Trust (NYSE:ESS) have been trending somewhat positive this week, Accern Sentiment Analysis reports. The research group identifies positive and negative news coverage by monitoring more than twenty million blog and news sources in real time. Accern ranks coverage of publicly-traded companies on a scale of -1 to 1, with scores nearest to one being the most favorable. Essex Property Trust earned a coverage optimism score of 0.15 on Accern’s scale. Accern also assigned news articles about the real estate investment trust an impact score of 47.5111824346259 out of 100, indicating that recent news coverage is somewhat unlikely to have an impact on the stock’s share price in the next several days.

Here are some of the news stories that may have impacted Accern’s rankings:

Essex Property Trust stock traded up $0.99 during midday trading on Friday, reaching $246.28. The stock had a trading volume of 302,500 shares, compared to its average volume of 406,964. Essex Property Trust has a 12 month low of $214.03 and a 12 month high of $270.04. The firm has a market capitalization of $16.30 billion, a price-to-earnings ratio of 20.66, a PEG ratio of 3.22 and a beta of 0.39. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.85 and a quick ratio of 1.85.

Essex Property Trust (NYSE:ESS) last issued its earnings results on Wednesday, August 1st. The real estate investment trust reported $3.14 EPS for the quarter, beating analysts’ consensus estimates of $3.10 by $0.04. The business had revenue of $348.72 million during the quarter, compared to analyst estimates of $348.58 million. Essex Property Trust had a return on equity of 5.52% and a net margin of 27.05%. During the same period in the previous year, the company posted $2.97 EPS. sell-side analysts expect that Essex Property Trust will post 12.55 EPS for the current year.

Several research analysts have commented on the company. ValuEngine raised Essex Property Trust from a “sell” rating to a “hold” rating in a report on Wednesday, July 11th. DA Davidson reaffirmed a “neutral” rating on shares of Essex Property Trust in a report on Monday, August 6th. Stifel Nicolaus raised Essex Property Trust from a “hold” rating to a “buy” rating and lifted their target price for the stock from $235.00 to $260.00 in a report on Thursday, August 2nd. Zacks Investment Research raised Essex Property Trust from a “hold” rating to a “buy” rating and set a $262.00 target price on the stock in a report on Tuesday, July 31st. Finally, Barclays cut their target price on Essex Property Trust from $272.00 to $269.00 and set an “overweight” rating on the stock in a report on Tuesday, July 17th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and thirteen have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $264.44.

In other Essex Property Trust news, insider Angela L. Kleiman sold 750 shares of the business’s stock in a transaction that occurred on Thursday, August 16th. The stock was sold at an average price of $240.80, for a total transaction of $180,600.00. Following the completion of the sale, the insider now directly owns 9,149 shares of the company’s stock, valued at approximately $2,203,079.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 3.30% of the company’s stock.

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. The Company currently has ownership interests in 247 apartment communities comprising approximately 60,000 apartment homes, excluding six properties in various stages of active development, one commercial building, preferred equity co-investments, and loan investments.

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