Essex Property Trust Earnings Preview: Get Ahead of the Analysts

Essex Property Trust (NYSE:ESS) will report earnings after markets close on Wednesday, May 1st. Essex Property Trust, Inc. is a self-administered and self-managed real estate investment trust company. The Company specializes in acquiring, developing and managing multifamily residential properties. Essex has ownership interests in residential properties and commercial properties located in California, Oregon and Washington.

Here is your Cheat Sheet to Essex Property Trust Earnings:

Earnings Expectations: Analysts expect earnings of $1.88 per share on revenues of $146.03 million. Currently, the company’s P/E ratio stands at 44.85.

Analyst Trends:

Analysts have a more positive outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings has risen from a profit of $1.86 to a profit $1.89. For the current year, the average estimate is a profit of $7.72, which is better than the estimate ninety days ago.

Earnings Trends:

Here’s how Essex Property Trust has been performing on an annual basis:

Fiscal Year 2008 2009 2010 2011 2012
Revenue ($) in millions 408.43 411.39 410.28 472.49 543.42
Diluted EPS ($) 2.09 2.91 1.14 1.24 3.41

Next, our CHEAT SHEET investing framework asks us to drill down to the recent quarterly data:

Quarter Dec. 31, 2011 Mar. 31, 2012 Jun. 30, 2012 Sep. 30, 2012 Dec. 31, 2012
Revenue ($) in millions 124.57 127.92 132.56 138.14 144.80
Diluted EPS ($) 0.4148 0.67 1.07 0.45 1.217

Past Performance:
Essex Property Trust has beat analyst estimates 2 times in the past four quarters. This is not consistent enough to get bullish yet.

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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)