Essex Property Trust, Inc. (NYSE:ESS) CFO Angela L. Kleiman sold 83 shares of the firm’s stock in a transaction on Tuesday, October 10th. The stock was sold at an average price of $257.92, for a total value of $21,407.36. Following the completion of the sale, the chief financial officer now directly owns 7,260 shares of the company’s stock, valued at $1,872,499.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.
Essex Property Trust, Inc. (NYSE:ESS) opened at 261.20 on Friday. The company has a market capitalization of $17.24 billion, a price-to-earnings ratio of 33.59 and a beta of 0.53. Essex Property Trust, Inc. has a 12-month low of $200.01 and a 12-month high of $270.04. The stock has a 50 day moving average price of $260.23 and a 200-day moving average price of $255.48.
Essex Property Trust (NYSE:ESS) last posted its quarterly earnings data on Thursday, July 27th. The real estate investment trust reported $2.97 EPS for the quarter, topping the consensus estimate of $2.92 by $0.05. The firm had revenue of $339.06 million during the quarter, compared to analyst estimates of $336.17 million. Essex Property Trust had a return on equity of 8.03% and a net margin of 38.33%. During the same period in the prior year, the business posted $2.74 EPS. Equities analysts predict that Essex Property Trust, Inc. will post $5.89 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 16th. Stockholders of record on Friday, September 29th will be paid a $1.75 dividend. The ex-dividend date is Thursday, September 28th. This represents a $7.00 annualized dividend and a dividend yield of 2.68%. Essex Property Trust’s dividend payout ratio (DPR) is 89.97%.
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A number of hedge funds have recently modified their holdings of ESS. Tower Research Capital LLC TRC increased its stake in Essex Property Trust by 145.3% in the 2nd quarter. Tower Research Capital LLC TRC now owns 471 shares of the real estate investment trust’s stock worth $121,000 after buying an additional 279 shares in the last quarter. Sun Life Financial INC increased its stake in Essex Property Trust by 5,900.0% in the 2nd quarter. Sun Life Financial INC now owns 480 shares of the real estate investment trust’s stock worth $123,000 after buying an additional 472 shares in the last quarter. FNY Partners Fund LP purchased a new stake in Essex Property Trust in the 1st quarter worth $165,000. Perigon Wealth Management LLC increased its stake in Essex Property Trust by 835.2% in the 1st quarter. Perigon Wealth Management LLC now owns 823 shares of the real estate investment trust’s stock worth $192,000 after buying an additional 735 shares in the last quarter. Finally, Wetherby Asset Management Inc. purchased a new stake in Essex Property Trust in the 2nd quarter worth $203,000. Institutional investors and hedge funds own 99.46% of the company’s stock.
A number of analysts have issued reports on ESS shares. BidaskClub downgraded Essex Property Trust from a “strong-buy” rating to a “buy” rating in a research report on Friday, June 30th. Royal Bank Of Canada reissued a “buy” rating and issued a $267.00 target price on shares of Essex Property Trust in a research report on Sunday, July 16th. Zacks Investment Research raised Essex Property Trust from a “hold” rating to a “buy” rating and set a $283.00 target price for the company in a research report on Tuesday, July 11th. Cantor Fitzgerald reissued a “buy” rating and issued a $278.00 target price on shares of Essex Property Trust in a research report on Thursday, July 27th. Finally, Stifel Nicolaus started coverage on Essex Property Trust in a research report on Friday, September 1st. They issued a “buy” rating and a $294.00 target price for the company. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Essex Property Trust has an average rating of “Hold” and a consensus target price of $268.07.
About Essex Property Trust
Essex Property Trust, Inc is a self-administered and self-managed real estate investment trust. The Company is engaged primarily in the ownership, operation, management, acquisition, development and redevelopment of predominantly apartment communities, located along the West Coast. Its segments include Southern California, Northern California, Seattle Metro and Other real estate assets.
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