Craig K. Zimmerman Sells 167 Shares of Essex Property Trust, Inc. (ESS) Stock
Essex Property Trust, Inc. (NYSE:ESS) insider Craig K. Zimmerman sold 167 shares of the company’s stock in a transaction on Friday, November 10th. The shares were sold at an average price of $255.50, for a total value of $42,668.50. Following the completion of the sale, the insider now directly owns 10,450 shares in the company, valued at approximately $2,669,975. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
Essex Property Trust, Inc. (NYSE:ESS) traded down $1.81 during midday trading on Wednesday, reaching $256.82. The company had a trading volume of 323,800 shares, compared to its average volume of 346,764. Essex Property Trust, Inc. has a 1 year low of $208.92 and a 1 year high of $270.04. The stock has a market capitalization of $17,079.16, a P/E ratio of 22.10, a PEG ratio of 3.66 and a beta of 0.54. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.83 and a quick ratio of 0.83.
The firm also recently announced a quarterly dividend, which was paid on Monday, October 16th. Investors of record on Friday, September 29th were given a dividend of $1.75 per share. The ex-dividend date was Thursday, September 28th. This represents a $7.00 annualized dividend and a yield of 2.73%. Essex Property Trust’s dividend payout ratio (DPR) is presently 87.61%.
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Several research firms have weighed in on ESS. Stifel Nicolaus began coverage on Essex Property Trust in a report on Friday, September 1st. They issued a “buy” rating and a $294.00 target price on the stock. Canaccord Genuity set a $270.00 target price on Essex Property Trust and gave the company a “hold” rating in a report on Monday, July 31st. Mizuho lowered Essex Property Trust from a “buy” rating to a “neutral” rating and set a $283.00 target price on the stock. in a report on Monday, July 31st. Robert W. Baird reissued a “buy” rating and issued a $273.00 target price on shares of Essex Property Trust in a report on Tuesday, September 12th. Finally, Cantor Fitzgerald reissued a “buy” rating and issued a $280.00 target price on shares of Essex Property Trust in a report on Wednesday, September 13th. Three analysts have rated the stock with a sell rating, ten have given a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $266.87.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ESS. Tower Research Capital LLC TRC lifted its position in Essex Property Trust by 145.3% during the second quarter. Tower Research Capital LLC TRC now owns 471 shares of the real estate investment trust’s stock worth $121,000 after buying an additional 279 shares during the period. Sun Life Financial INC raised its holdings in shares of Essex Property Trust by 5,900.0% in the 2nd quarter. Sun Life Financial INC now owns 480 shares of the real estate investment trust’s stock worth $123,000 after purchasing an additional 472 shares during the period. Breton Hill Capital Ltd. purchased a new position in shares of Essex Property Trust in the 3rd quarter worth about $200,000. Beacon Investment Advisory Services Inc. purchased a new position in shares of Essex Property Trust in the 3rd quarter worth about $200,000. Finally, Wetherby Asset Management Inc. purchased a new position in shares of Essex Property Trust in the 2nd quarter worth about $203,000. Hedge funds and other institutional investors own 98.45% of the company’s stock.
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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