Essex Property Trust Inc expected to post earnings of $1.29 a share - Earnings Preview

Essex Property Trust

26/04/2024 21:43

* Essex Property Trust Inc  ESS.N   ESS  is expected to show
a
rise in quarterly revenue when it reports  results on April 30
for the period ending March 31 2024
    * The San Mateo California-based  company is expected to
report a
2.9% increase in revenue to $421.407 million from $409.66
million a year ago, according to the mean estimate from 17
analysts, based on LSEG data. (Revenue basis is on Rental and
other property revenue)
    * ​LSEG's mean analyst estimate for Essex Property Trust Inc
is
for earnings of $1.29 per share. 
    * The current average analyst rating on the shares is "hold"
and
the breakdown of recommendations is 7 "strong buy" or "buy," 15
"hold" and 3 "sell" or "strong sell."  
    * The mean earnings estimate of analysts had fallen by
about 0.1%
in the last three months. ​
    * Wall Street's median 12-month price target for Essex
Property
Trust Inc is $244.00​, below​ its last closing price of $247.21.
​​​

The company's guidance on February 6 2024 for the period ended
March 31 was for Funds Flow from Operations between USD3.68 and
USD3.8.
Previous quarterly performance (using preferred earnings measure
in US dollars). ​
 QUARTER       STARMINESM  LSEG IBES  ACTUAL    BEAT,   SURPRI
 ENDING        ARTESTIMAT  ESTIMATE             MET,    SE %
               E®                               MISSED  
 Dec. 31 2023  3.82        3.81       3.83      Beat    0.5
 Sep. 30 2023  3.77        3.77       3.78      Beat    0.4
 Jun. 30 2023  3.75        3.73       3.77      Beat    1​
 Mar. 31 2023  3.62        3.61       3.65      Beat    1.1
 ​​Dec.        3.73        3.73       3.77      Beat    1
 31 2022                                                
 Sep. 30 2022  3.67        3.67       3.69      Beat    0.6​
 Jun. 30 2022  3.57        3.54       3.68      Beat    3.9
 Mar. 31 2022  3.35        3.34       3.37      Beat    0.9
 This summary was machine generated April 26 at 20:43 GMT.  All
figures in US dollars unless otherwise stated. (For questions
concerning the data in this report, contact
Estimates.Support@lseg.com. For any other questions or feedback,
contact RefinitivNewsSupport@thomsonreuters.com)