Analysis of Essex Property Trust Inc. (ESS)’s performance, earnings and valuation

Essex Property Trust Inc. [ESS] stock is trading at $278.05, up up 0.94%. In order to assess the stock’s recent performance, you can check whether its short-term value is rising or falling. The ESS shares have lost -2.37% over the last week, with a monthly amount glided 4.52%, and seem to be holding up well over a long-time horizon.

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On 26, July 2022, Essex Announces Second Quarter 2022 Results and Increases Full-Year 2022 Guidance. In a post published today on Yahoo Finance, Essex Property Trust, Inc. (NYSE: ESS) (the “Company”) announced today its second quarter 2022 earnings results and related business activities. Net Income, Funds from Operations (“FFO”), and Core FFO per diluted share for the three and six months ended June 30, 2022 are detailed below.

From an analyst’s perspective:

Essex Property Trust Inc. [NYSE: ESS] stock has seen the most recent analyst activity on June 23, 2022, when Credit Suisse initiated its Underperform rating and assigned the stock a price target of $247. Previously, BMO Capital Markets downgraded its rating to Market Perform on May 31, 2022, and dropped its price target to $320. On May 17, 2022, upgrade upgraded it’s rating to Buy and revised its price target to $338 on the stock. Barclays downgraded its rating to a Underweight and decreased its price target to $310 on May 10, 2022. Scotiabank downgraded its rating to a Sector Underperform and reduced its price target to $338 on December 16, 2021. Stifel started tracking with a Buy rating for this stock on December 07, 2021, and assigned it a price target of $390. In a note dated October 25, 2021, Evercore ISI upgraded an Outperform rating on this stock but restated the target price of $381.

Essex Property Trust Inc. [ESS] stock has fluctuated between $250.62 and $363.36 over the past year. Currently, Wall Street analysts expect the stock to reach $309.45 within the next 12 months. Essex Property Trust Inc. [NYSE: ESS] shares were valued at $278.05 at the most recent close of the market. An investor can expect a potential return of 11.29% based on the average price forecast.

Analyzing the ESS fundamentals

Essex Property Trust Inc. [NYSE:ESS] reported sales of 381.9 billion for the most recent quarter, which represents a growth of 14.00%. Gross Margin for this corporation currently stands at +30.48% with Operating Margin at +28.25%, Pretax Margin comes in at +35.80%, and Net Margin reading is +33.91%.

Before buying any particular stock, readers tend to pay close attention to the indicators that support and create resistance. The company’s stock is currently sitting at 275.03 points at the first support level, and at 272.01 for the second support level. However, for the 1st resistance point, the stock is sitting at 279.64, and for the 2nd resistance point, it is at 281.23.

Essex Property Trust Inc. [ESS] reported earnings per share of $0.87 for its fiscal quarter that ended on 6/29/2022. Based on the Wall Street analysts’ estimates, the company was expected to report earnings of $1.32/share, meaning a difference of $-0.45 and a surprise factor of -34.10%. By comparison, the stated earnings for the previous quarter ended on 3/30/2022 were $1.12 per share as compared to estimates of $1.21 per share, a difference of $-0.09 representing a surprise of -7.40%.

Ratios To Look Out For

Considering the valuation of this stock, the price to sales ratio is 15.91, the price to book ratio is 3.83 and the P/E (TTM) ratio is 47.02.

Transactions by insiders

In the past 3 months, 1 insiders have purchased 960 shares, and 0 have sold 0 shares. Recent insider trading involved Kleiman Angela L., Sr. EVP & COO, that happened on Mar 29 when 6309.0 shares were sold. President and CEO, SCHALL MICHAEL J completed a deal on Mar 29 to sell 12132.0 shares. Meanwhile, Director Johnson Amal M sold 7329.0 shares on Mar 15.