Essex Property Trust Inc reports results for the quarter ended in March - Earnings Summary

Essex Property Trust

01/05/2024 04:53

* Essex Property Trust Inc  ESS.N  reported quarterly
adjusted
earnings of $4.25​​ per share for the quarter ended in March,
higher than the same quarter last year, when the company
reported EPS of $2.38.  The mean expectation of twelve analysts
for the quarter was for earnings of $1.29 per share. Wall Street
expected results to range from 92 cents to $1.51 per share.
    * Revenue rose 4.2% to $426.93 million from a year ago;
analysts
expected $421.41 million. 
    * Essex Property Trust Inc's reported EPS for the quarter
was
$4.25​.
    * The company reported quarterly net income of $272.73
million.
    * Essex Property Trust Inc shares had risen by 1.3% this
quarter and held steady so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had risen by
about 0.2%
in the last three months.​ 
    * In the last 30 days, one analyst negatively revised an
earnings
estimate

RECOMMENDATIONS
    * 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." 
    * Wall Street's median 12-month price target for Essex
Property
Trust Inc is $244.00 

This summary was machine generated from LSEG data May 1 at 03:53
a.m. UTC. ​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) QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Mar. 31 2024      3.75           3.83           Beat
 Dec. 31 2023      3.81           3.83           Beat
 Sep. 30 2023      3.77           3.78           Beat
 Jun. 30 2023      3.73           3.77           Beat