Essex Property Trust Inc (NYSE:ESS) CAO Sells $518,350.07 in Stock

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Essex Property Trust Inc (NYSE:ESS) CAO John Farias sold 1,643 shares of Essex Property Trust stock in a transaction on Friday, August 16th. The stock was sold at an average price of $315.49, for a total transaction of $518,350.07. Following the transaction, the chief accounting officer now directly owns 2,377 shares in the company, valued at $749,919.73. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

NYSE ESS opened at $320.99 on Friday. The stock has a market capitalization of $20.75 billion, a price-to-earnings ratio of 24.48, a PEG ratio of 3.83 and a beta of 0.37. Essex Property Trust Inc has a one year low of $235.51 and a one year high of $321.21. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.92 and a quick ratio of 0.92. The business’s fifty day moving average is $304.90 and its 200-day moving average is $291.12.

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

Institutional investors have recently made changes to their positions in the stock. FMR LLC raised its stake in Essex Property Trust by 22.4% in the 1st 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 during the period. Pictet Asset Management Ltd. raised its stake in Essex Property Trust by 17.6% in the 1st quarter. Pictet Asset Management Ltd. now owns 46,111 shares of the real estate investment trust’s stock valued at $13,337,000 after acquiring an additional 6,890 shares during the period. California Public Employees Retirement System raised its stake in Essex Property Trust by 25.2% in the 1st quarter. California Public Employees Retirement System now owns 399,601 shares of the real estate investment trust’s stock valued at $115,581,000 after acquiring an additional 80,501 shares during the period. CIBC Asset Management Inc raised its stake in Essex Property Trust by 2.5% in the 1st quarter. CIBC Asset Management Inc now owns 7,049 shares of the real estate investment trust’s stock valued at $2,039,000 after acquiring an additional 174 shares during the period. Finally, Brinker Capital Inc. raised its stake in Essex Property Trust by 11.9% in the 1st quarter. Brinker Capital Inc. now owns 1,809 shares of the real estate investment trust’s stock valued at $525,000 after acquiring an additional 193 shares during the period. Institutional investors and hedge funds own 97.01% of the company’s stock.

A number of equities research analysts have recently commented on the company. Stifel Nicolaus lifted their target price on Essex Property Trust from $300.00 to $325.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. KeyCorp lifted their target price on Essex Property Trust from $311.00 to $320.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 31st. Zacks Investment Research cut 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 Essex Property Trust and gave the stock a “hold” rating in a research note on Wednesday, July 24th. Finally, Barclays lifted their target price on 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 research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Essex Property Trust has a consensus rating of “Buy” and an average target price of $296.73.

Essex Property Trust Company Profile

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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