Essex Property Trust, Inc. (ESS) Cut to "Buy" at BidaskClub

"(NYSE:ESS) Issues FY17 Earnings Guidance" was reported by StockNewsTimes and is owned by of StockNewsTimes. Barclays PLC now has an overweight rating on the real estate investment trust's stock. Four analysts have provided estimates for Liberty Property Trust's earnings. Next quarter's EPS is estimated at $1.08 with next year's EPS projected to be $4.55. With a strong property base and solid balance sheet, Essex is likely to leverage on favorable demographic trends in its markets.

In the market the company is trading down by -1.37% since yesterday's close of $267.14. Equity analyst BTIG Research began coverage of LPT giving it an initial rating of "Neutral". Stifel Nicolaus reissued a "buy" rating and set a $44.00 price objective on shares of Liberty Property Trust in a research report on Thursday, July 6th. Zacks Investment Research cut shares of Essex Property Trust from a "hold" rating to a "sell" rating in a research report on Tuesday, April 18th. Mizuho raised shares of Essex Property Trust from a neutral rating to a buy rating and lifted their price objective for the company from $199.00 to $212.00 in a research report on Monday, May 1st. Finally, BidaskClub cut Liberty Property Trust from a "buy" rating to a "hold" rating in a research report on Wednesday, June 21st. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have issued a buy rating to the stock. The stock now has an average rating of Hold and a consensus price target of $255.75.

Brokerages expect that Liberty Property Trust (NYSE:LPT) will announce earnings of $0.62 per share for the current quarter, Zacks Investment Research reports. Trading volume was down 98.47% under the stocks average daily volume. The company has a market capitalization of $17.35 billion, a PE ratio of 33.97 and a beta of 0.52. Essex Property Trust has a 12 month low of $200.01 and a 12 month high of $268.97. The company's 50-day moving average price is $41.49 and its 200-day moving average price is $40.22.

Liberty Property Trust (NYSE:LPT) last posted its quarterly earnings results on Tuesday, April 25th. The real estate investment trust reported $0.60 EPS for the quarter, beating the consensus estimate of $0.58 by $0.02. The firm had revenue of $339.06 million for the quarter, compared to analyst estimates of $336.17 million. During the same period in the previous year, the business earned $2.74 EPS. On average, analysts forecast that Essex Property Trust will post $6.04 earnings per share for the current fiscal year.

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The company also recently announced a quarterly dividend, which was paid on Friday, July 14th. Stockholders of record on Friday, June 30th were given a $1.75 dividend. This represents a $1.60 annualized dividend and a dividend yield of 3.88%. The ex-dividend date was set for Thursday the 29th of June 2017. Jefferies Group also issued estimates for Essex Property Trust's Q2 2017 earnings at $2.89 EPS and FY2018 earnings at $12.23 EPS. Also, insider Michael J. Schall sold 13,668 shares of the stock in a transaction that occurred on Friday, May 12th. Capstone Asset Management Co. now owns 14,797 shares of the real estate investment trust's stock valued at $570,000 after buying an additional 190 shares during the last quarter. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. The stock was sold at an average price of $254.22, for a total transaction of $260,321.28. Following the completion of the transaction, the insider now owns 10,594 shares of the company's stock, valued at approximately $2,673,395.90. The disclosure for this sale can be found here. Insiders sold 32,826 shares of company stock valued at $8,272,799 over the last three months. Institutional investors and hedge funds own 99.96% of the company's stock. Telos Capital Management Inc. increased its stake in shares of Liberty Property Trust by 0.7% in the first quarter. BTR Capital Management Inc. now owns 1,587 shares of the real estate investment trust's stock worth $408,000 after buying an additional 11 shares during the last quarter. Brookfield Asset Management Inc. raised its position in shares of Essex Property Trust by 27.6% in the fourth quarter. The value of the investment in (LPT) went from $508,000 to $601,000 increasing 18.3% quarter over quarter. Creative Planning increased its position in Essex Property Trust by 2.1% in the first quarter. UBS Asset Management Americas Inc. now owns 241,023 shares of the real estate investment trust's stock worth $56,038,000 after buying an additional 11,015 shares during the period. Janney Montgomery Scott LLC added to its position by buying 535 shares an increase of 3.1% in the quarter. Tiemann Investment Advisors LLC now owns 4,050 shares of the real estate investment trust's stock worth $938,000 after buying an additional 25 shares during the last quarter. Finally, Gemmer Asset Management LLC boosted its position in Essex Property Trust by 0.7% in the first quarter.

Hedge funds have recently modified their holdings of the company.

Liberty Property Trust (the Trust) is a self-administered and self-managed Maryland real estate investment trust (REIT).

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