Essex Property Trust Inc. [NYSE: ESS] gained 6.04% or 11.26 points to close at $197.58 with a heavy trading volume of 1018296 shares. The company report on October 29, 2020 that Essex Announces Third Quarter 2020 Results.
Essex Property Trust, Inc. (NYSE: ESS) (the “Company”) announced today its third quarter 2020 earnings results and related business activities.
Net Income, Funds from Operations (“FFO”), and Core FFO per diluted share for the quarter ended September 30, 2020 are detailed below.
It opened the trading session at $189.34, the shares rose to $200.66 and dropped to $188.85, the range by which the price of stock traded the whole day. The daily chart for ESS points out that the company has recorded -16.57% loss over the past six months. However, it is still -12.38% lower than its most recent low trading price.
If we look at the average trading volume of 422.85K shares, ESS reached to a volume of 1018296 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying about Essex Property Trust Inc. [ESS]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for ESS shares is $237.50 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on ESS stock is a recommendation set at 2.80. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Wells Fargo have made an estimate for Essex Property Trust Inc. shares, keeping their opinion on the stock as Equal Weight, with their previous recommendation back on October 21, 2020. While these analysts kept the previous recommendation, Robert W. Baird raised their target price to Neutral. The new note on the price target was released on September 15, 2020, representing the official price target for Essex Property Trust Inc. stock. On September 09, 2020, analysts decreased their price target for ESS shares from 255 to 235.
The Average True Range (ATR) for Essex Property Trust Inc. is set at 6.20, with the Price to Sales ratio for ESS stock in the period of the last 12 months amounting to 8.53. The Price to Book ratio for the last quarter was 2.10, with the Price to Cash per share for the same quarter was set at 3.79. Price to Free Cash Flow for ESS in the course of the last twelve months was 39.90.
Trading performance analysis for ESS stock
Essex Property Trust Inc. [ESS] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -2.44. With this latest performance, ESS shares dropped by -1.60% in over the last four-week period, additionally sinking by -16.57% over the last 6 months – not to mention a drop of -39.70% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for ESS stock in for the last two-week period is set at 43.87, with the RSI for the last a single of trading hit 44.46, and the three-weeks RSI is set at 43.62 for Essex Property Trust Inc. [ESS]. The present Moving Average for the last 50 days of trading for this stock 209.88, while it was recorded at 196.30 for the last single week of trading, and 240.79 for the last 200 days.
Essex Property Trust Inc. [ESS]: A deeper dive into fundamental analysis
Operating Margin for any stock indicates how profitable investing would be, and Essex Property Trust Inc. [ESS] shares currently have an operating margin of +21.71 and a Gross Margin at +38.17. Essex Property Trust Inc.’s Net Margin is presently recorded at +29.71.
Return on Total Capital for ESS is now 2.64, given the latest momentum, and Return on Invested Capital for the company is 3.80. Return on Equity for this stock inclined to 7.04, with Return on Assets sitting at 3.50. When it comes to the capital structure of this company, Essex Property Trust Inc. [ESS] has a Total Debt to Total Equity ratio set at 94.62. Additionally, ESS Total Debt to Total Capital is recorded at 48.62, with Total Debt to Total Assets ending up at 46.32. Long-Term Debt to Equity for the company is recorded at 89.88, with the Long-Term Debt to Total Capital now at 46.18.
Reflecting on the efficiency of the workforce at the company, Essex Property Trust Inc. [ESS] managed to generate an average of $241,101 per employee. Receivables Turnover for the company is 14.34 with a Total Asset Turnover recorded at a value of 0.12.
Essex Property Trust Inc. [ESS]: An earnings per share (EPS) analysis
With the latest financial reports released by the company, Essex Property Trust Inc. posted 1.95/share EPS, while the average EPS was predicted by analysts to be reported at 1.39/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 40.30%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for ESS. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Essex Property Trust Inc. go to 7.90%.
An analysis of insider ownership at Essex Property Trust Inc. [ESS]
There are presently around $12,561 million, or 98.50% of ESS stock, in the hands of institutional investors. The top three institutional holders of ESS stocks are: VANGUARD GROUP INC with ownership of 10,571,053, which is approximately -3.792% of the company’s market cap and around 2.11% of the total institutional ownership; BLACKROCK INC., holding 6,808,573 shares of the stock with an approximate value of $1.35 billion in ESS stocks shares; and COHEN & STEERS, INC., currently with $1.18 billion in ESS stock with ownership of nearly 24.84% of the company’s market capitalization.
Positions in Essex Property Trust Inc. stocks held by institutional investors increased at the end of October and at the time of the October reporting period, where 225 institutional holders increased their position in Essex Property Trust Inc. [NYSE:ESS] by around 6,190,352 shares. Additionally, 268 investors decreased positions by around 4,960,576 shares, while 62 investors held positions by with 52,423,705 shares. The mentioned changes placed institutional holdings at 63,574,633 shares, according to the latest SEC report filing. ESS stock had 62 new institutional investments in for a total of 1,616,768 shares, while 52 institutional investors sold positions of 557,664 shares during the same period.