Insider Selling: Essex Property Trust Inc (ESS) Director Sells 500 Shares of Stock
Essex Property Trust Inc (NYSE:ESS) Director Gary P. Martin sold 500 shares of the company’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $223.43, for a total value of $111,715.00. Following the completion of the sale, the director now owns 5,736 shares in the company, valued at $1,281,594.48. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.
Shares of Essex Property Trust Inc (NYSE ESS) opened at $228.28 on Wednesday. The company has a market capitalization of $15,050.40, a P/E ratio of 34.69, a P/E/G ratio of 2.93 and a beta of 0.42. Essex Property Trust Inc has a 12-month low of $214.03 and a 12-month high of $270.04. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.89.
Essex Property Trust (NYSE:ESS) last released its quarterly earnings results on Wednesday, February 7th. The real estate investment trust reported $3.01 EPS for the quarter, topping the Zacks’ consensus estimate of $3.00 by $0.01. Essex Property Trust had a return on equity of 6.76% and a net margin of 31.75%. The business had revenue of $345.06 million for the quarter, compared to analyst estimates of $346.50 million. During the same period in the prior year, the company earned $2.85 EPS. analysts anticipate that Essex Property Trust Inc will post 12.46 earnings per share for the current year.
A number of large investors have recently bought and sold shares of the business. Raymond James Financial Services Advisors Inc. lifted its holdings in Essex Property Trust by 1.0% during the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 4,821 shares of the real estate investment trust’s stock worth $1,240,000 after buying an additional 49 shares in the last quarter. Advisor Group Inc. lifted its holdings in Essex Property Trust by 14.2% during the 2nd quarter. Advisor Group Inc. now owns 1,021 shares of the real estate investment trust’s stock worth $262,000 after buying an additional 127 shares in the last quarter. Phocas Financial Corp. lifted its holdings in Essex Property Trust by 3.4% during the 2nd quarter. Phocas Financial Corp. now owns 4,252 shares of the real estate investment trust’s stock worth $1,094,000 after buying an additional 138 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its holdings in Essex Property Trust by 0.9% during the 3rd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 21,110 shares of the real estate investment trust’s stock worth $5,363,000 after buying an additional 194 shares in the last quarter. Finally, Mn Services Vermogensbeheer B.V. lifted its holdings in Essex Property Trust by 1.9% during the 3rd quarter. Mn Services Vermogensbeheer B.V. now owns 10,841 shares of the real estate investment trust’s stock worth $2,754,000 after buying an additional 200 shares in the last quarter. 96.31% of the stock is currently owned by hedge funds and other institutional investors.
Several equities research analysts have recently weighed in on ESS shares. Royal Bank of Canada reiterated a “buy” rating on shares of Essex Property Trust in a research note on Sunday, November 12th. Evercore ISI upgraded Essex Property Trust from an “in-line” rating to an “outperform” rating and set a $274.00 price objective on the stock in a research note on Monday, December 11th. BMO Capital Markets restated a “hold” rating and set a $257.00 price target on shares of Essex Property Trust in a research report on Monday, November 27th. Mitsubishi UFJ Financial Group upgraded Essex Property Trust from a “neutral” rating to an “overweight” rating in a research report on Wednesday, January 3rd. Finally, Sandler O’Neill set a $250.00 price target on Essex Property Trust and gave the stock a “hold” rating in a research report on Friday, January 12th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. Essex Property Trust has an average 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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