Essex Property Trust Inc (NYSE:ESS) Director Irving F. Lyons III sold 1,024 shares of the business’s stock in a transaction dated Thursday, May 18th. The shares were sold at an average price of $254.22, for a total value of $260,321.28. Following the completion of the transaction, the director now directly owns 8,854 shares in the company, valued at $2,250,863.88. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

Essex Property Trust (NYSE:ESS) last released its earnings results on Thursday, April 27th. The real estate investment trust reported $2.94 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.89 by $0.05. Essex Property Trust had a net margin of 32.07% and a return on equity of 6.55%. The firm had revenue of $335.40 million during the quarter, compared to analyst estimates of $332.80 million. During the same period last year, the business earned $2.68 earnings per share.

Insider Buying and Selling by Quarter for Essex Property Trust (NYSE:ESS)

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 14th. Stockholders of record on Friday, June 30th will be issued a dividend of $1.75 per share. This represents a $7.00 annualized dividend and a dividend yield of 2.74%. Essex Property Trust’s payout ratio is 102.07%.

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Institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its position in Essex Property Trust by 2.1% in the first quarter. Vanguard Group Inc. now owns 11,404,375 shares of the real estate investment trust’s stock valued at $2,640,455,000 after buying an additional 229,503 shares during the last quarter. BlackRock Inc. raised its position in Essex Property Trust by 2,296.8% in the first quarter. BlackRock Inc. now owns 6,479,030 shares of the real estate investment trust’s stock valued at $1,500,090,000 after buying an additional 6,208,705 shares during the last quarter. State Street Corp raised its position in Essex Property Trust by 0.7% in the fourth quarter. State Street Corp now owns 4,802,337 shares of the real estate investment trust’s stock valued at $1,116,579,000 after buying an additional 35,667 shares during the last quarter. Daiwa Securities Group Inc. raised its position in Essex Property Trust by 0.7% in the first quarter. Daiwa Securities Group Inc. now owns 2,350,895 shares of the real estate investment trust’s stock valued at $544,303,000 after buying an additional 16,150 shares during the last quarter. Finally, Principal Financial Group Inc. raised its position in Essex Property Trust by 1.6% in the first quarter. Principal Financial Group Inc. now owns 2,155,778 shares of the real estate investment trust’s stock valued at $499,156,000 after buying an additional 34,654 shares during the last quarter. Hedge funds and other institutional investors own 98.95% of the company’s stock.

A number of research analysts have recently issued reports on ESS shares. Royal Bank of Canada reissued a “buy” rating and issued a $248.00 price objective on shares of Essex Property Trust in a research note on Wednesday, March 29th. Evercore ISI downgraded Essex Property Trust to a “buy” rating in a research note on Friday, March 3rd. Mizuho raised Essex Property Trust from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $199.00 to $212.00 in a research note on Monday, May 1st. Cantor Fitzgerald reissued a “buy” rating and issued a $269.00 price objective on shares of Essex Property Trust in a research note on Wednesday, May 3rd. Finally, Zacks Investment Research raised Essex Property Trust from a “sell” rating to a “hold” rating in a research note on Monday, April 24th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and seven have given a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $246.36.

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.

5 Day Chart for NYSE:ESS

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