Essex Property Trust, Inc. (NYSE:ESS) CEO Michael J. Schall sold 334 shares of Essex Property Trust stock in a transaction on Friday, November 10th. The shares were sold at an average price of $255.50, for a total value of $85,337.00. Following the sale, the chief executive officer now directly owns 45,097 shares of the company’s stock, valued at $11,522,283.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.
Essex Property Trust, Inc. (ESS) opened at $258.63 on Tuesday. Essex Property Trust, Inc. has a one year low of $208.92 and a one year 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 firm has a market capitalization of $16,930.57, a price-to-earnings ratio of 21.91, a P/E/G ratio of 3.63 and a beta of 0.54.
The firm also recently announced a quarterly dividend, which was paid on Monday, October 16th. Investors of record on Friday, September 29th were paid a dividend of $1.75 per share. The ex-dividend date of this dividend was Thursday, September 28th. This represents a $7.00 annualized dividend and a yield of 2.71%. Essex Property Trust’s dividend payout ratio (DPR) is 87.61%.
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ESS has been the subject of a number of research analyst reports. Canaccord Genuity set a $270.00 target price on Essex Property Trust and gave the company a “hold” rating in a research report on Monday, July 31st. Mitsubishi UFJ Financial Group reiterated a “neutral” rating on shares of Essex Property Trust in a report on Friday, November 3rd. Morgan Stanley lifted their price target on Essex Property Trust from $260.00 to $267.00 and gave the company an “overweight” rating in a report on Wednesday, August 16th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $276.00 price target (up from $267.00) on shares of Essex Property Trust in a report on Sunday, August 13th. Finally, 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 target on the stock. Three equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $266.87.
A number of institutional investors have recently bought and sold shares of the business. Lenox Wealth Management Inc. purchased a new stake in Essex Property Trust during the 3rd quarter valued at about $489,000. Asset Management One Co. Ltd. grew its stake in Essex Property Trust by 4.7% during the 3rd quarter. Asset Management One Co. Ltd. now owns 268,136 shares of the real estate investment trust’s stock valued at $67,972,000 after purchasing an additional 12,061 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its stake 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 valued at $5,363,000 after purchasing an additional 194 shares during the last quarter. Adelante Capital Management LLC grew its stake in Essex Property Trust by 14.6% during the 3rd quarter. Adelante Capital Management LLC now owns 286,643 shares of the real estate investment trust’s stock valued at $72,815,000 after purchasing an additional 36,586 shares during the last quarter. Finally, Envestnet Asset Management Inc. grew its stake in Essex Property Trust by 288.9% during the 3rd quarter. Envestnet Asset Management Inc. now owns 23,149 shares of the real estate investment trust’s stock valued at $5,882,000 after purchasing an additional 17,197 shares during the last quarter. Institutional investors and hedge funds own 98.45% of the company’s stock.
About Essex Property Trust
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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