Essex Property Trust Inc (ESS) reported quarterly earnings results on Thursday, Jul-28-2016. The company said it had a profit of $2.74 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.04. Analysts had a consensus of $2.70. Analysts expectations of $318.82 million. During the same quarter in the previous year, the company posted $2.40 EPS.
Many Wall Street Analysts have commented on Essex Property Trust Inc. Essex Property Trust Inc was Downgraded by Jefferies to ” Hold” on Jun 8, 2016. Essex Property Trust Inc was Upgraded by CapitalOne to ” Overweight” on May 16, 2016. Essex Property Trust Inc was Upgraded by Raymond James to ” Outperform” on May 5, 2016.
Essex Property Trust Inc opened for trading at $218.77 and hit $222.43 on the upside on Thursday, eventually ending the session at $220.59, with a gain of 0.81% or 1.78 points. The heightened volatility saw the trading volume jump to 4,44,675 shares. Company has a market cap of $14,433 M.
In a different news, on Jul 7, 2016, Michael J Schall (President and CEO) sold 10,000 shares at $225.03 per share price. According to the SEC, on Mar 1, 2016, David W Brady (director) purchased 722 shares at $223.82 per share price. On Dec 18, 2015, John F. Burkart (Sr. Executive Vice President) sold 3,000 shares at $236.85 per share price, according to the Form-4 filing with the securities and exchange commission.
Essex Property Trust Inc. (Essex) is a self-administered and self-managed real estate investment trust (REIT). The Company is engaged primarily in the ownership operation management acquisition development and redevelopment of apartment communities. As of December 31 2014 the Company owned or held an interest in 239 communities aggregating 57455 units located along the West Coast as well as four commercial buildings (totaling approximately 325200 square feet) and 12 active development projects with 2920 units in various stages of development. The Company’s apartment communities are located in Southern California which include Los Angeles Orange Riverside San Diego Santa Barbara and Ventura counties; Northern California which include the San Francisco Bay Area and Seattle Metro which include Seattle metropolitan area.