Essex Property Trust, Inc. (ESS) CFO Sells $21,407.36 in Stock
Essex Property Trust, Inc. (NYSE:ESS) CFO Angela L. Kleiman sold 83 shares of the company’s stock in a transaction on Tuesday, October 10th. The shares were sold at an average price of $257.92, for a total transaction of $21,407.36. Following the completion of the transaction, the chief financial officer now owns 7,260 shares of the company’s stock, valued at approximately $1,872,499.20. The sale was disclosed in a filing with the SEC, which is available at this link.
Shares of Essex Property Trust, Inc. (NYSE:ESS) traded down 0.16% during midday trading on Wednesday, reaching $258.30. 186,184 shares of the company’s stock traded hands. The firm has a market capitalization of $17.04 billion, a P/E ratio of 33.21 and a beta of 0.53. Essex Property Trust, Inc. has a 52-week low of $200.01 and a 52-week high of $270.04. The stock’s 50 day moving average price is $260.60 and its 200 day moving average price is $255.42.
Essex Property Trust (NYSE:ESS) last released its earnings results on Thursday, July 27th. The real estate investment trust reported $2.97 earnings per share for the quarter, beating the consensus estimate of $2.92 by $0.05. Essex Property Trust had a return on equity of 8.03% and a net margin of 38.33%. The firm had revenue of $339.06 million for the quarter, compared to analyst estimates of $336.17 million. During the same quarter in the prior year, the firm posted $2.74 earnings per share. On average, equities research analysts anticipate that Essex Property Trust, Inc. will post $5.89 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, October 16th. Stockholders of record on Friday, September 29th will be given a dividend of $1.75 per share. This represents a $7.00 dividend on an annualized basis and a dividend yield of 2.71%. The ex-dividend date is Thursday, September 28th. Essex Property Trust’s dividend payout ratio is currently 89.97%.
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A number of equities analysts have commented on the stock. Royal Bank Of Canada restated an “outperform” rating and set a $276.00 price objective (up previously from $267.00) on shares of Essex Property Trust in a research report on Sunday, August 13th. Canaccord Genuity set a $270.00 price target on shares of Essex Property Trust and gave the company a “hold” rating in a report on Monday, July 31st. Stifel Nicolaus initiated coverage on shares of Essex Property Trust in a research note on Friday, September 1st. They issued a “buy” rating and a $294.00 price objective on the stock. Mizuho cut shares of Essex Property Trust from a “buy” rating to a “neutral” rating and set a $283.00 price objective on the stock. in a research note on Monday, July 31st. Finally, Zacks Investment Research cut shares of Essex Property Trust from a “buy” rating to a “hold” rating in a research note on Monday, July 17th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. Essex Property Trust presently has a consensus rating of “Hold” and an average price target of $268.07.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. LMR Partners LLP raised its position in Essex Property Trust by 15.7% in the 2nd quarter. LMR Partners LLP now owns 3,263 shares of the real estate investment trust’s stock valued at $840,000 after buying an additional 443 shares during the last quarter. BlueCrest Capital Management Ltd bought a new position in Essex Property Trust in the first quarter valued at approximately $438,000. NN Investment Partners Holdings N.V. grew its stake in Essex Property Trust by 4.0% in the second quarter. NN Investment Partners Holdings N.V. now owns 240,093 shares of the real estate investment trust’s stock valued at $61,769,000 after purchasing an additional 9,300 shares in the last quarter. Principal Financial Group Inc. grew its stake in Essex Property Trust by 4.3% in the second quarter. Principal Financial Group Inc. now owns 2,247,592 shares of the real estate investment trust’s stock valued at $578,237,000 after purchasing an additional 91,814 shares in the last quarter. Finally, Old Mutual Global Investors UK Ltd. bought a new position in Essex Property Trust in the second quarter valued at approximately $2,102,000. 99.46% of the stock is currently owned by institutional investors.
Essex Property Trust Company Profile
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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