Essex Property Trust (NYSE:ESS – Get Free Report) issued an update on its FY 2024 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of 15.380-15.620 for the period, compared to the consensus estimate of 15.350. The company issued revenue guidance of -. Essex Property Trust also updated its FY24 guidance to $15.38-15.62 EPS.
Essex Property Trust Trading Down 1.8 %
Shares of Essex Property Trust stock traded down $5.20 during midday trading on Tuesday, reaching $280.80. The company had a trading volume of 576,986 shares, compared to its average volume of 373,001. The stock has a fifty day moving average price of $273.64 and a 200 day moving average price of $252.73. The company has a debt-to-equity ratio of 1.14, a current ratio of 3.19 and a quick ratio of 3.19. The firm has a market cap of $18.03 billion, a PE ratio of 34.33, a P/E/G ratio of 4.01 and a beta of 0.86. Essex Property Trust has a fifty-two week low of $203.85 and a fifty-two week high of $292.37.
Essex Property Trust Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 24th. Investors of record on Friday, June 28th were paid a $2.45 dividend. This represents a $9.80 dividend on an annualized basis and a dividend yield of 3.49%. The ex-dividend date was Friday, June 28th. Essex Property Trust’s dividend payout ratio is currently 119.80%.
Wall Street Analyst Weigh In
Get Our Latest Stock Analysis on ESS
Insider Activity at Essex Property Trust
In related news, Director Keith R. Guericke sold 10,000 shares of Essex Property Trust stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $274.57, for a total transaction of $2,745,700.00. Following the transaction, the director now owns 16,118 shares of the company’s stock, valued at $4,425,519.26. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Essex Property Trust news, Director Keith R. Guericke sold 10,000 shares of the business’s stock in a transaction on Friday, June 14th. The stock was sold at an average price of $274.57, for a total value of $2,745,700.00. Following the transaction, the director now owns 16,118 shares of the company’s stock, valued at $4,425,519.26. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Angela L. Kleiman sold 3,780 shares of the business’s stock in a transaction on Friday, June 21st. The stock was sold at an average price of $278.27, for a total value of $1,051,860.60. Following the completion of the transaction, the chief executive officer now directly owns 9,494 shares in the company, valued at approximately $2,641,895.38. The disclosure for this sale can be found here. 3.80% of the stock is owned by insiders.
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. 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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