Essex Property Trust, Inc (NYSE:ESS) price on Friday, February 28, rose 2.52% above its previous day’s close as an upside momentum from buyers pushed the stock’s value to $311.57.
A look at the stock’s price movement, the close in the last trading session was $303.91. The PE ratio in trailing twelve months stood at 27.00. Turning to its 52-week performance, $317.73 and $226.19 were the 52-week high and 52-week low respectively. Overall, ESS moved 12.63% over the past month.
Essex Property Trust, Inc’s market cap currently stands at around $20.75 billion, with investors looking forward to this quarter’s earnings report slated for in April. The company has a Forward Dividend ratio of 9.80, with its dividend yield at 3.15%. As such, investors might be keen on an upside in the stock’s price ahead of the scheduled earnings report.
Analysts have a consensus estimate of 457.92M for the company’s revenue for the quarter, with a low and high estimate of 453.86M and 467.39M respectively. The average forecast suggests up to a 7.94% growth in sales growth compared to quarterly growth in the same period last fiscal year. Wall Street analysts have also projected the company’s year-on-year revenue to grow to 1.86B, representing a 5.59% jump on that reported in the last financial year.
Turning to the stock’s technical picture we see that short term indicators suggest on average that ESS is a 100% Buy. On the other hand, the stock is on average a 50% Sell as suggested by medium term indicators while long term indicators are putting the stock in 100% Buy category.
13 analyst(s) have given their forecast ratings for the stock on a scale of 1.00-5.00 for a strong buy to strong sell recommendation. A total of 2 analyst(s) rate the stock as a Hold, 10 recommend ESS as a Buy and 0 give it an Overweight rating. Meanwhile, 0 analyst(s) rate the stock as Underweight and 1 say it is a Sell. As such, the average rating for the stock is Buy which could provide an opportunity for investors keen on increasing their holdings of the company’s stock.
ESS’s current price about 5.92% and 8.59% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 74.55, while 7-day volatility ratio is 1.86% and 2.09% in the 30-day chart. Further, Essex Property Trust, Inc (ESS) has a beta value of 0.91, and an average true range (ATR) of 6.10. Analysts have given the company’s stock an average 52-week price target of $314, forecast between a low of $302 and high of $321. Looking at the price targets, the low is 3.07% off current price level while to achieve the yearly target high, price needs to move -3.03%. Nonetheless, investors will most likely welcome a -0.78% jump to $314 which is the analysts’ median price.
If we refocus on Essex Property Trust, Inc (NYSE:ESS), historical trading data shows that trading volumes averaged 431.10K over the past 3 months. The company’s latest data on shares outstanding shows there are 64.28 million shares.
The 0.78% of Essex Property Trust, Inc’s shares are in the hands of company insiders while institutional holders own 96.25% of the company’s shares. Current price change has pushed the stock 9.15% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the ESS stock continues to rise going into the next quarter.
