Essex Property Trust Inc (NYSE:ESS) Director Gary P. Martin sold 500 shares of the firm’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $223.43, for a total transaction of $111,715.00. Following the sale, the director now owns 5,736 shares in the company, valued at approximately $1,281,594.48. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.
Essex Property Trust Inc (NYSE ESS) traded up $0.43 during mid-day trading on Tuesday, hitting $228.28. 478,379 shares of the company were exchanged, compared to its average volume of 471,619. Essex Property Trust Inc has a 1 year low of $214.03 and a 1 year high of $270.04. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.83 and a current ratio of 0.83. The stock has a market capitalization of $15,056.35, a price-to-earnings ratio of 34.83, a PEG ratio of 2.93 and a beta of 0.42.
Essex Property Trust (NYSE:ESS) last posted its earnings results on Wednesday, February 7th. The real estate investment trust reported $3.01 earnings per share for the quarter, beating analysts’ consensus estimates of $3.00 by $0.01. Essex Property Trust had a net margin of 31.75% and a return on equity of 6.76%. The firm had revenue of $345.06 million during the quarter, compared to analyst estimates of $346.50 million. During the same period last year, the firm posted $2.85 earnings per share. research analysts anticipate that Essex Property Trust Inc will post 12.45 EPS for the current fiscal year.
Several hedge funds have recently bought and sold shares of the stock. BlackRock Inc. grew its holdings in shares of Essex Property Trust by 1.4% in the fourth quarter. BlackRock Inc. now owns 6,812,160 shares of the real estate investment trust’s stock valued at $1,644,253,000 after purchasing an additional 94,542 shares in the last quarter. Principal Financial Group Inc. grew its holdings in shares of Essex Property Trust by 3.6% in the third quarter. Principal Financial Group Inc. now owns 2,328,165 shares of the real estate investment trust’s stock valued at $591,424,000 after purchasing an additional 80,573 shares in the last quarter. Cbre Clarion Securities LLC grew its holdings in shares of Essex Property Trust by 6.1% in the fourth quarter. Cbre Clarion Securities LLC now owns 1,091,140 shares of the real estate investment trust’s stock valued at $263,368,000 after purchasing an additional 62,762 shares in the last quarter. Bank of Montreal Can grew its holdings in shares of Essex Property Trust by 5.4% in the fourth quarter. Bank of Montreal Can now owns 1,034,873 shares of the real estate investment trust’s stock valued at $249,787,000 after purchasing an additional 53,102 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in shares of Essex Property Trust by 2.0% in the third quarter. Dimensional Fund Advisors LP now owns 940,078 shares of the real estate investment trust’s stock valued at $238,806,000 after purchasing an additional 18,322 shares in the last quarter. 96.31% of the stock is owned by hedge funds and other institutional investors.
ESS has been the topic of a number of recent analyst reports. Raymond James Financial restated an “underperform” rating on shares of Essex Property Trust in a research note on Monday, January 8th. Mitsubishi UFJ Financial Group reaffirmed a “neutral” rating on shares of Essex Property Trust in a report on Friday, November 3rd. Sandler O’Neill set a $250.00 price objective on shares of Essex Property Trust and gave the company a “hold” rating in a report on Friday, January 12th. Evercore ISI raised shares of Essex Property Trust from an “in-line” rating to an “outperform” rating and set a $274.00 price objective for the company in a report on Monday, December 11th. Finally, Royal Bank of Canada reaffirmed a “buy” rating and set a $276.00 price objective on shares of Essex Property Trust in a report on Friday, October 20th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $264.94.
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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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