Essex Property Trust, Inc. (NYSE:ESS) insider Michael J. Schall sold 333 shares of Essex Property Trust stock in a transaction on Monday, July 10th. The stock was sold at an average price of $256.06, for a total transaction of $85,267.98. Following the completion of the sale, the insider now owns 45,096 shares of the company’s stock, valued at approximately $11,547,281.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Essex Property Trust, Inc. (NYSE ESS) traded down 0.54% during mid-day trading on Tuesday, reaching $251.73. 351,728 shares of the company’s stock were exchanged. The stock has a 50-day moving average price of $260.16 and a 200-day moving average price of $238.93. The stock has a market cap of $16.51 billion, a P/E ratio of 32.25 and a beta of 0.52. Essex Property Trust, Inc. has a 52 week low of $200.01 and a 52 week high of $268.97.

Essex Property Trust (NYSE:ESS) last issued its earnings results on Thursday, April 27th. The real estate investment trust reported $2.94 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.89 by $0.05. Essex Property Trust had a return on equity of 8.04% and a net margin of 38.94%. The firm had revenue of $335.40 million for the quarter, compared to analysts’ expectations of $332.80 million. During the same quarter last year, the business earned $2.68 earnings per share. On average, analysts forecast that Essex Property Trust, Inc. will post $6.04 earnings per share for the current year.

The firm also recently disclosed 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 2.78%. The ex-dividend date is Wednesday, June 28th. Essex Property Trust’s dividend payout ratio (DPR) is presently 89.74%.

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Institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. boosted 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 period. Bank of Montreal Can boosted its position in Essex Property Trust by 139.6% in the first quarter. Bank of Montreal Can now owns 950,717 shares of the real estate investment trust’s stock valued at $220,119,000 after buying an additional 553,947 shares during the period. Vanguard Group Inc. boosted 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 period. NN Investment Partners Holdings N.V. boosted its position in Essex Property Trust by 173.3% in the first quarter. NN Investment Partners Holdings N.V. now owns 230,793 shares of the real estate investment trust’s stock valued at $53,435,000 after buying an additional 146,356 shares during the period. Finally, Brookfield Asset Management Inc. boosted its position in Essex Property Trust by 24.1% in the first quarter. Brookfield Asset Management Inc. now owns 687,972 shares of the real estate investment trust’s stock valued at $159,286,000 after buying an additional 133,417 shares during the period.

Several analysts have weighed in on ESS shares. Mizuho upgraded shares of Essex Property Trust from a “neutral” rating to a “buy” rating and boosted their target price for the company from $199.00 to $212.00 in a research note on Monday, May 1st. Royal Bank Of Canada reiterated a “buy” rating and set a $248.00 target price on shares of Essex Property Trust in a research note on Wednesday, March 29th. Cantor Fitzgerald reiterated a “buy” rating and set a $269.00 target price on shares of Essex Property Trust in a research note on Wednesday, May 3rd. BidaskClub lowered shares of Essex Property Trust from a “strong-buy” rating to a “buy” rating in a research note on Friday, June 30th. Finally, Zacks Investment Research upgraded shares of Essex Property Trust from a “hold” rating to a “buy” rating and set a $283.00 target price for the company in a research note on Tuesday. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $253.92.

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.

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

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