Essex Property Trust Inc (ESS) Insider Angela L. Kleiman Sells 84 Shares
Essex Property Trust Inc (NYSE:ESS) insider Angela L. Kleiman sold 84 shares of the company’s stock in a transaction dated Wednesday, October 10th. The stock was sold at an average price of $249.55, for a total transaction of $20,962.20. Following the transaction, the insider now owns 8,483 shares in the company, valued at $2,116,932.65. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.
Shares of NYSE ESS opened at $238.62 on Friday. Essex Property Trust Inc has a 12-month low of $214.03 and a 12-month high of $264.07. The stock has a market capitalization of $16.30 billion, a price-to-earnings ratio of 20.04, a price-to-earnings-growth ratio of 3.21 and a beta of 0.29. The company has a current ratio of 1.85, a quick ratio of 1.85 and a debt-to-equity ratio of 0.88.
Essex Property Trust (NYSE:ESS) last announced its quarterly earnings results on Wednesday, August 1st. The real estate investment trust reported $3.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.10 by $0.04. Essex Property Trust had a net margin of 27.05% and a return on equity of 5.52%. The company had revenue of $348.72 million for the quarter, compared to the consensus estimate of $348.58 million. During the same quarter in the prior year, the firm earned $2.97 earnings per share. On average, equities analysts predict that Essex Property Trust Inc will post 12.58 EPS for the current fiscal year.
Several research analysts have weighed in on the stock. Zacks Investment Research lowered shares of Essex Property Trust from a “buy” rating to a “hold” rating in a research report on Thursday, October 4th. Jefferies Financial Group restated a “hold” rating and set a $247.00 target price on shares of Essex Property Trust in a research report on Monday, October 1st. Citigroup lowered shares of Essex Property Trust from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $280.00 to $260.00 in a research report on Friday, September 14th. ValuEngine upgraded shares of Essex Property Trust from a “sell” rating to a “hold” rating in a research report on Tuesday, September 4th. Finally, Royal Bank of Canada restated a “buy” rating and set a $269.00 target price on shares of Essex Property Trust in a research report on Thursday, August 30th. Eleven research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $263.89.
Hedge funds and other institutional investors have recently made changes to their positions in the business. Point72 Asia Hong Kong Ltd purchased a new position in shares of Essex Property Trust during the first quarter valued at approximately $105,000. McKinley Carter Wealth Services Inc. purchased a new position in shares of Essex Property Trust during the first quarter valued at approximately $130,000. Piedmont Investment Advisors LLC purchased a new position in shares of Essex Property Trust during the second quarter valued at approximately $185,000. First Midwest Bank Trust Division purchased a new position in shares of Essex Property Trust during the second quarter valued at approximately $218,000. Finally, First Allied Advisory Services Inc. purchased a new position in shares of Essex Property Trust during the second quarter valued at approximately $230,000. 96.22% of the stock is currently owned by institutional investors.
About Essex Property Trust
Essex Property Trust, Inc, an S&P 500 company, is a fully integrated real estate investment trust (REIT) that acquires, develops, redevelops, and manages multifamily residential properties in selected West Coast markets. The Company currently has ownership interests in 247 apartment communities comprising approximately 60,000 apartment homes, excluding six properties in various stages of active development, one commercial building, preferred equity co-investments, and loan investments.
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