Essex Property Trust Inc (ESS) Announces Quarterly Dividend of $1.75
Essex Property Trust Inc (NYSE:ESS) announced a quarterly dividend on Wednesday, December 13th, RTT News reports. Investors of record on Friday, December 29th will be given a dividend of 1.75 per share by the real estate investment trust on Tuesday, January 16th. This represents a $7.00 annualized dividend and a dividend yield of 2.82%.
Essex Property Trust has increased its dividend payment by an average of 9.7% annually over the last three years and has increased its dividend annually for the last 23 consecutive years. Essex Property Trust has a payout ratio of 58.9% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Essex Property Trust to earn $12.43 per share next year, which means the company should continue to be able to cover its $7.00 annual dividend with an expected future payout ratio of 56.3%.
Essex Property Trust (ESS) traded down $1.17 during midday trading on Wednesday, reaching $247.98. The company’s stock had a trading volume of 367,906 shares, compared to its average volume of 347,653. The stock has a market cap of $16,453.79, a PE ratio of 21.30, a PEG ratio of 3.36 and a beta of 0.50. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.83 and a quick ratio of 0.83. Essex Property Trust has a fifty-two week low of $216.71 and a fifty-two week high of $270.04.
In other news, CFO Angela L. Kleiman sold 600 shares of the firm’s stock in a transaction that occurred on Monday, December 11th. The stock was sold at an average price of $247.16, for a total value of $148,296.00. Following the completion of the sale, the chief financial officer now directly owns 7,777 shares of the company’s stock, valued at approximately $1,922,163.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Michael J. Schall sold 4,801 shares of the firm’s stock in a transaction that occurred on Monday, December 11th. The shares were sold at an average price of $247.37, for a total value of $1,187,623.37. Following the completion of the sale, the chief executive officer now directly owns 49,564 shares of the company’s stock, valued at $12,260,646.68. The disclosure for this sale can be found here. Insiders sold a total of 10,269 shares of company stock valued at $2,558,882 over the last ninety days. Corporate insiders own 3.30% of the company’s stock.
COPYRIGHT VIOLATION NOTICE: “Essex Property Trust Inc (ESS) Announces Quarterly Dividend of $1.75” was originally published by American Banking News and is owned by of American Banking News. If you are reading this article on another site, it was copied illegally and republished in violation of US and international copyright & trademark laws. The correct version of this article can be read at https://www.americanbankingnews.com/2017/12/13/essex-property-trust-inc-ess-announces-quarterly-dividend-of-1-75.html.
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.
Receive News & Ratings for Essex Property Trust Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Essex Property Trust and related companies with MarketBeat.com's FREE daily email newsletter.