Essex Property Trust Inc (NYSE:ESS) CFO Angela L. Kleiman sold 600 shares of Essex Property Trust stock in a transaction that occurred on Monday, December 11th. The shares were sold at an average price of $247.16, for a total value of $148,296.00. Following the completion of the transaction, the chief financial officer now owns 7,777 shares in the company, valued at $1,922,163.32. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.
Shares of Essex Property Trust Inc (ESS) traded down $1.17 during mid-day trading on Thursday, reaching $247.98. The company had a trading volume of 367,900 shares, compared to its average volume of 347,678. The firm has a market capitalization of $16,453.13, a PE ratio of 21.30, a PEG ratio of 3.36 and a beta of 0.50. Essex Property Trust Inc has a 52-week low of $216.71 and a 52-week high of $270.04. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.83 and a current ratio of 0.83.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 16th. Investors of record on Friday, December 29th will be issued a dividend of $1.75 per share. This represents a $7.00 annualized dividend and a yield of 2.82%. Essex Property Trust’s dividend payout ratio is presently 87.61%.
A number of hedge funds have recently modified their holdings of the stock. Tower Research Capital LLC TRC raised its holdings in shares of Essex Property Trust by 145.3% in the second quarter. Tower Research Capital LLC TRC now owns 471 shares of the real estate investment trust’s stock worth $121,000 after acquiring an additional 279 shares during the last quarter. Sun Life Financial INC raised its holdings in shares of Essex Property Trust by 5,900.0% in the second quarter. Sun Life Financial INC now owns 480 shares of the real estate investment trust’s stock worth $123,000 after acquiring an additional 472 shares during the last quarter. Breton Hill Capital Ltd. acquired a new position in shares of Essex Property Trust in the third quarter worth $200,000. Beacon Investment Advisory Services Inc. acquired a new position in shares of Essex Property Trust in the third quarter worth $200,000. Finally, Wetherby Asset Management Inc. acquired a new position in shares of Essex Property Trust in the second quarter worth $203,000. 97.26% of the stock is owned by hedge funds and other institutional investors.
A number of research firms recently weighed in on ESS. Robert W. Baird restated a “buy” rating and issued a $273.00 price target on shares of Essex Property Trust in a research note on Tuesday, October 17th. SunTrust Banks restated a “hold” rating and issued a $270.00 price target on shares of Essex Property Trust in a research note on Friday, November 3rd. Mizuho downgraded Essex Property Trust from a “neutral” rating to an “underperform” rating and set a $250.00 price target on the stock. in a research note on Monday, November 6th. Barclays restated a “buy” rating and issued a $283.00 price target on shares of Essex Property Trust in a research note on Thursday, October 19th. Finally, BTIG Research upgraded Essex Property Trust from a “neutral” rating to a “buy” rating and set a $273.00 price target on the stock in a research note on Wednesday. Two research analysts have rated the stock with a sell rating, eight have given a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $271.19.
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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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