Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer or Stephanie Link.
Trade-Ideas LLC identified
) as a new lifetime high candidate. In addition to specific proprietary factors, Trade-Ideas identified Essex Property as such a stock due to the following factors:
- ESS has an average dollar-volume (as measured by average daily share volume multiplied by share price) of $56.3 million.
- ESS has traded 201 shares today.
- ESS is trading at a new lifetime high.
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More details on ESS:
Essex Property Trust, Inc. operates as a self-administered and self-managed real estate investment trust in the United States. It engages in the ownership, operation, management, acquisition, development, and redevelopment of apartment communities, as well as commercial properties. The stock currently has a dividend yield of 2.7%. ESS has a PE ratio of 79.3. Currently there are 5 analysts that rate Essex Property a buy, no analysts rate it a sell, and 8 rate it a hold.
The average volume for Essex Property has been 335,200 shares per day over the past 30 days. Essex Property has a market cap of $12.4 billion and is part of the financial sector and real estate industry. The stock has a beta of 0.93 and a short float of 2.2% with 4.10 days to cover. Shares are up 36.4% year-to-date as of the close of trading on Wednesday.
rates Essex Property as a
. The company's strengths can be seen in multiple areas, such as its robust revenue growth, good cash flow from operations and solid stock price performance. We feel these strengths outweigh the fact that the company has had sub par growth in net income.
Highlights from the ratings report include:
- ESS's very impressive revenue growth greatly exceeded the industry average of 12.2%. Since the same quarter one year prior, revenues leaped by 67.4%. This growth in revenue does not appear to have trickled down to the company's bottom line, displayed by a decline in earnings per share.
- Net operating cash flow has increased to $96.18 million or 48.20% when compared to the same quarter last year. In addition, ESSEX PROPERTY TRUST has also vastly surpassed the industry average cash flow growth rate of -24.40%.
- Looking at where the stock is today compared to one year ago, we find that it is not only higher, but it has also clearly outperformed the rise in the S&P 500 over the same period, despite the company's weak earnings results. Turning our attention to the future direction of the stock, it goes without saying that even the best stocks can fall in an overall down market. However, in any other environment, this stock still has good upside potential despite the fact that it has already risen in the past year.
- ESSEX PROPERTY TRUST has experienced a steep decline in earnings per share in the most recent quarter in comparison to its performance from the same quarter a year ago. This company has reported somewhat volatile earnings recently. We feel it is likely to report a decline in earnings in the coming year. During the past fiscal year, ESSEX PROPERTY TRUST increased its bottom line by earning $3.24 versus $3.09 in the prior year. For the next year, the market is expecting a contraction of 59.7% in earnings ($1.31 versus $3.24).
- The company, on the basis of change in net income from the same quarter one year ago, has significantly underperformed when compared to that of the S&P 500 and the Real Estate Investment Trusts (REITs) industry. The net income has significantly decreased by 76.0% when compared to the same quarter one year ago, falling from $26.31 million to $6.30 million.
- You can view the full Essex Property Ratings Report.