Essex Property Trust, Inc. (NYSE:ESS) CFO Angela L. Kleiman sold 84 shares of Essex Property Trust stock in a transaction dated Friday, November 10th. The stock was sold at an average price of $255.50, for a total value of $21,462.00. Following the completion of the transaction, the chief financial officer now owns 7,261 shares in the company, valued at approximately $1,855,185.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.
Shares of Essex Property Trust, Inc. (ESS) opened at $258.63 on Tuesday. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.88. The firm has a market capitalization of $16,930.57, a P/E ratio of 21.91, a price-to-earnings-growth ratio of 3.63 and a beta of 0.54. Essex Property Trust, Inc. has a 12-month low of $208.92 and a 12-month high of $270.04.
The company also recently disclosed a quarterly dividend, which was paid on Monday, October 16th. Shareholders 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 2.71%. Essex Property Trust’s payout ratio is 87.61%.
Institutional investors have recently bought and sold shares of the business. Tower Research Capital LLC TRC boosted its position in Essex Property Trust by 145.3% during the 2nd quarter. Tower Research Capital LLC TRC now owns 471 shares of the real estate investment trust’s stock valued at $121,000 after acquiring an additional 279 shares in the last quarter. Sun Life Financial INC boosted its position in Essex Property Trust by 5,900.0% during the 2nd quarter. Sun Life Financial INC now owns 480 shares of the real estate investment trust’s stock valued at $123,000 after acquiring an additional 472 shares in the last quarter. Wetherby Asset Management Inc. bought a new stake in Essex Property Trust during the 2nd quarter valued at approximately $203,000. Breton Hill Capital Ltd. bought a new stake in Essex Property Trust during the 3rd quarter valued at approximately $200,000. Finally, Beaton Management Co. Inc. bought a new stake in Essex Property Trust during the 2nd quarter valued at approximately $207,000. 98.45% of the stock is currently owned by institutional investors and hedge funds.
Several research firms have recently commented 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 price objective on the stock. Canaccord Genuity set a $270.00 price target on Essex Property Trust and gave the company a “hold” rating in a report on Monday, July 31st. Mizuho downgraded Essex Property Trust from a “buy” rating to a “neutral” rating and set a $283.00 price target on the stock. in a report on Monday, July 31st. 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. Finally, Cantor Fitzgerald restated a “buy” rating and set a $280.00 price target on shares of Essex Property Trust in a report on Wednesday, September 13th. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $266.87.
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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