Insider Selling: Essex Property Trust, Inc. (ESS) Insider Sells 166 Shares of Stock
Essex Property Trust, Inc. (NYSE:ESS) insider John D. Eudy sold 166 shares of the firm’s stock in a transaction that occurred on Tuesday, October 10th. The stock was sold at an average price of $257.92, for a total transaction of $42,814.72. The transaction was disclosed in a document filed with the SEC, which is accessible through this link.
Essex Property Trust, Inc. (NYSE:ESS) traded down 0.16% during trading on Wednesday, hitting $258.30. 183,315 shares of the stock were exchanged. The stock has a market cap of $17.05 billion, a price-to-earnings ratio of 33.16 and a beta of 0.53. Essex Property Trust, Inc. has a 1-year low of $200.01 and a 1-year high of $270.04. The firm’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 announced its quarterly earnings data on Thursday, July 27th. The real estate investment trust reported $2.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 company had revenue of $339.06 million for the quarter, compared to analysts’ expectations of $336.17 million. During the same quarter in the prior year, the business posted $2.74 EPS. On average, analysts anticipate that Essex Property Trust, Inc. will post $5.89 EPS for the current 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 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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Several institutional investors have recently made changes to their positions in ESS. BlackRock Inc. raised its stake in shares of Essex Property Trust by 2,296.8% during the 1st quarter. BlackRock Inc. now owns 6,479,030 shares of the real estate investment trust’s stock worth $1,500,090,000 after purchasing an additional 6,208,705 shares in the last quarter. Bank of New York Mellon Corp raised its stake in shares of Essex Property Trust by 38.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,488,052 shares of the real estate investment trust’s stock worth $382,832,000 after purchasing an additional 412,316 shares in the last quarter. Koch Industries Inc. bought a new stake in shares of Essex Property Trust during the 2nd quarter worth approximately $301,000. American Century Companies Inc. bought a new stake in shares of Essex Property Trust during the 2nd quarter worth approximately $61,713,000. Finally, Renaissance Technologies LLC raised its stake in shares of Essex Property Trust by 120.1% during the 2nd quarter. Renaissance Technologies LLC now owns 250,900 shares of the real estate investment trust’s stock worth $64,549,000 after purchasing an additional 136,900 shares in the last quarter. Institutional investors own 99.46% of the company’s stock.
Several analysts recently commented on the stock. BidaskClub upgraded shares of Essex Property Trust from a “buy” rating to a “strong-buy” rating in a report on Tuesday, June 20th. Stifel Nicolaus assumed coverage on shares of Essex Property Trust in a report on Friday, September 1st. They set a “buy” rating and a $294.00 price target for the company. Mizuho cut shares of Essex Property Trust from a “buy” rating to a “neutral” rating and set a $283.00 price target for the company. in a report on Monday, July 31st. Canaccord Genuity set a $270.00 price target on shares of Essex Property Trust and gave the stock a “hold” rating in a report on Monday, July 31st. Finally, Robert W. Baird restated a “buy” rating and set a $273.00 price target on shares of Essex Property Trust in a report on Tuesday, September 12th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. Essex Property Trust has a consensus rating of “Hold” and an average price target 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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