Essex Property Trust Inc reports results for the quarter ended in September 30 - Earnings Summary

Essex Property Trust

30/10/2024 03:06

* Essex Property Trust Inc  ESS.N  reported quarterly
adjusted
earnings of $1.84​​ per share for the quarter ended September
30, higher than the same quarter last year, when the company
reported EPS of $1.36.  The mean expectation of twelve analysts
for the quarter was for earnings of $1.37 per share. Wall Street
expected results to range from $1.26  to $1.54 per share.
    * Revenue rose 6.9% to $448.14 million from a year ago;
analysts
expected $444.89 million. 
    * Essex Property Trust Inc's reported EPS for the quarter
was
$1.84​.
    * The company reported quarterly net income of $118.42
million.
    * Essex Property Trust Inc shares had risen by 1.4% this
quarter and gained 20.9% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had risen by
about 1.2%
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 6 "strong buy" or "buy," 19
"hold" and 1 "sell" or "strong sell." 
    * The average consensus recommendation for the residential
reits
peer group is also "hold"

Wall Street's median 12-month price target for Essex Property
Trust Inc is $308.00 
This summary was machine generated from LSEG data October 30 at
03:05 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
 Sep. 30 2024      3.88           3.91           Beat
 Jun. 30 2024      3.85           3.94           Beat
 Mar. 31 2024      3.75           3.83           Beat
 Dec. 31 2023      3.81           3.83           Beat