Essex Property Trust Inc expected to post earnings of $1.35 a share - Earnings Preview

Essex Property Trust

26/07/2024 22:56

* Essex Property Trust Inc  ESS.N   ESS  is expected to show
a
rise in quarterly revenue when it reports  results on July 30
for the period ending June 30 2024
    * The San Mateo California-based  company is expected to
report a
4.5% increase in revenue to $431.822 million from $413.27
million a year ago, according to the mean estimate from 16
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 $1.35 per share. 
    * The current average analyst rating on the shares is "hold"
and
the breakdown of recommendations is 7 "strong buy" or "buy," 16
"hold" and 1 "sell" or "strong sell."  
    * The mean earnings estimate of analysts was unchanged in
the last
three months. ​
    * Wall Street's median 12-month price target for Essex
Property
Trust Inc is $274.50​, below​ its last closing price of $286.74.
​​​

The company's guidance on April 30 2024 for the period ended
June 30 was for Funds Flow from Operations between USD3.77 and
USD3.89.
Previous quarterly performance (using preferred earnings measure
in US dollars). ​
 QUARTER       STARMINESM  LSEG IBES  ACTUAL    BEAT,   SURPRI
 ENDING        ARTESTIMAT  ESTIMATE             MET,    SE %
               E®                               MISSED  
 Mar. 31 2024  3.76        3.75       3.83      Beat    2
 Dec. 31 2024  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.        3.62        3.61       3.65      Beat    1.1
 31 2023                                                
 Dec. 31 2022  3.73        3.73       3.77      Beat    1​
 Sep. 30 2022  3.67        3.67       3.69      Beat    0.6
 Jun. 30 2022  3.57        3.54       3.68      Beat    3.9
 This summary was machine generated July 26 at 21:56 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)