Essex Property Trust Inc (NYSE:ESS) Insider John F. Burkart Sells 13,807 Shares

Essex Property Trust Inc (NYSE:ESS) insider John F. Burkart sold 13,807 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $312.62, for a total value of $4,316,344.34. Following the completion of the transaction, the insider now owns 17,726 shares in the company, valued at approximately $5,541,502.12. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

NYSE:ESS opened at $314.72 on Friday. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.92. The stock has a market capitalization of $20.20 billion, a PE ratio of 25.04, a price-to-earnings-growth ratio of 3.73 and a beta of 0.37. The firm’s 50 day moving average is $302.28 and its 200 day moving average is $290.03. Essex Property Trust Inc has a 12 month low of $235.51 and a 12 month high of $316.88.

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

Several large investors have recently bought and sold shares of ESS. Vanguard Group Inc. raised its holdings in Essex Property Trust by 0.5% during the 2nd quarter. Vanguard Group Inc. now owns 10,673,644 shares of the real estate investment trust’s stock valued at $3,115,957,000 after acquiring an additional 52,605 shares during the period. FMR LLC raised its holdings in Essex Property Trust by 22.4% during 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. Daiwa Securities Group Inc. raised its holdings in Essex Property Trust by 0.4% during the 1st quarter. Daiwa Securities Group Inc. now owns 1,789,893 shares of the real estate investment trust’s stock valued at $517,709,000 after acquiring an additional 7,190 shares during the period. Northern Trust Corp raised its holdings in Essex Property Trust by 7.6% during the 2nd quarter. Northern Trust Corp now owns 1,210,865 shares of the real estate investment trust’s stock valued at $353,488,000 after acquiring an additional 85,299 shares during the period. Finally, Geode Capital Management LLC raised its holdings in Essex Property Trust by 9.1% during the 4th quarter. Geode Capital Management LLC now owns 1,082,222 shares of the real estate investment trust’s stock valued at $265,001,000 after acquiring an additional 90,392 shares during the period. 97.65% of the stock is currently owned by institutional investors.

A number of brokerages have recently weighed in on ESS. Citigroup boosted their target price on Essex Property Trust from $280.00 to $300.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 30th. Barclays boosted 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. 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. Robert W. Baird downgraded Essex Property Trust from an “outperform” rating to a “neutral” rating and boosted their target price for the stock from $297.00 to $302.00 in a research note on Tuesday, June 18th. Finally, Morgan Stanley boosted their target price on Essex Property Trust from $292.00 to $320.00 and gave the stock an “overweight” rating in a research note on Thursday, June 27th. Eight research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Essex Property Trust presently has an average rating of “Buy” and an average 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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Insider Buying and Selling by Quarter for Essex Property Trust (NYSE:ESS)

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