Essex Property Trust Inc (NYSE:ESS) CIO Adam W. Berry sold 9,369 shares of the company’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $314.22, for a total value of $2,943,927.18. Following the sale, the executive now directly owns 11,966 shares in the company, valued at approximately $3,759,956.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

NYSE ESS traded down $2.03 during trading hours on Tuesday, hitting $315.74. The company had a trading volume of 206,306 shares, compared to its average volume of 291,297. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.92 and a current ratio of 0.92. Essex Property Trust Inc has a 1-year low of $235.51 and a 1-year high of $319.15. The company has a market cap of $20.69 billion, a PE ratio of 25.12, a price-to-earnings-growth ratio of 3.82 and a beta of 0.37. The business has a 50 day moving average of $303.67 and a 200-day moving average of $290.41.

Essex Property Trust (NYSE:ESS) last released its quarterly earnings data on Wednesday, July 24th. The real estate investment trust reported $1.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.26 by ($1.86). Essex Property Trust had a net margin of 28.83% and a return on equity of 6.43%. The company had revenue of $361.64 million during the quarter, compared to analyst estimates of $358.15 million. During the same quarter in the prior year, the company earned $3.14 EPS. Sell-side analysts expect that Essex Property Trust Inc will post 13.29 earnings per share for the current fiscal year.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. FMR LLC boosted its stake in Essex Property Trust by 22.4% in the first quarter. FMR LLC now owns 2,303,608 shares of the real estate investment trust’s stock valued at $666,295,000 after acquiring an additional 420,856 shares in the last quarter. Pictet Asset Management Ltd. boosted its stake in shares of Essex Property Trust by 17.6% during the first quarter. Pictet Asset Management Ltd. now owns 46,111 shares of the real estate investment trust’s stock worth $13,337,000 after buying an additional 6,890 shares during the period. California Public Employees Retirement System boosted its stake in shares of Essex Property Trust by 25.2% during the first quarter. California Public Employees Retirement System now owns 399,601 shares of the real estate investment trust’s stock worth $115,581,000 after buying an additional 80,501 shares during the period. CIBC Asset Management Inc boosted its stake in shares of Essex Property Trust by 2.5% during the first quarter. CIBC Asset Management Inc now owns 7,049 shares of the real estate investment trust’s stock worth $2,039,000 after buying an additional 174 shares during the period. Finally, Brinker Capital Inc. boosted its stake in shares of Essex Property Trust by 11.9% during the first quarter. Brinker Capital Inc. now owns 1,809 shares of the real estate investment trust’s stock worth $525,000 after buying an additional 193 shares during the period. Institutional investors own 97.01% of the company’s stock.

A number of research firms have recently weighed in on ESS. KeyCorp upped their price objective on Essex Property Trust from $311.00 to $320.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 31st. Zacks Investment Research downgraded shares of Essex Property Trust from a “buy” rating to a “hold” rating in a research note on Thursday, May 16th. BMO Capital Markets set a $310.00 target price on shares of Essex Property Trust and gave the stock a “hold” rating in a research note on Wednesday, July 24th. BTIG Research upgraded shares of Essex Property Trust from a “neutral” rating to a “buy” rating and set a $335.00 target price for the company in a research note on Thursday, August 15th. Finally, Barclays boosted their target price on shares of Essex Property Trust from $310.00 to $328.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 16th. Eight investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $296.73.

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. Essex currently has ownership interests in 245 apartment communities with an additional 6 properties in various stages of active development.

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