Essex Property Trust Inc (ESS) Director Sells $644,770.56 in Stock

Essex Property Trust Inc (NYSE:ESS) Director Byron A. Scordelis sold 2,324 shares of the stock in a transaction that occurred on Friday, February 8th. The shares were sold at an average price of $277.44, for a total transaction of $644,770.56. Following the completion of the sale, the director now directly owns 4,824 shares of the company’s stock, valued at approximately $1,338,370.56. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

NYSE:ESS opened at $278.66 on Tuesday. The company has a market cap of $18.37 billion, a P/E ratio of 22.17, a P/E/G ratio of 3.74 and a beta of 0.49. Essex Property Trust Inc has a fifty-two week low of $219.62 and a fifty-two week high of $280.11. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.31 and a quick ratio of 1.31.

Essex Property Trust (NYSE:ESS) last released its earnings results on Wednesday, January 30th. The real estate investment trust reported $3.19 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $3.19. The company had revenue of $353.16 million for the quarter, compared to analyst estimates of $351.76 million. Essex Property Trust had a net margin of 27.87% and a return on equity of 5.74%. During the same period in the prior year, the business earned $3.01 EPS. As a group, equities analysts forecast that Essex Property Trust Inc will post 13.07 EPS for the current year.



The firm also recently announced a quarterly dividend, which was paid on Tuesday, January 15th. Shareholders of record on Wednesday, January 2nd were issued a dividend of $1.86 per share. The ex-dividend date of this dividend was Monday, December 31st. This represents a $7.44 dividend on an annualized basis and a yield of 2.67%. Essex Property Trust’s dividend payout ratio (DPR) is presently 59.19%.

ESS has been the subject of a number of research analyst reports. Jefferies Financial Group increased their price objective on shares of Essex Property Trust from $262.00 to $297.00 in a research report on Sunday, December 9th. ValuEngine raised shares of Essex Property Trust from a “hold” rating to a “buy” rating in a research report on Wednesday, November 21st. Stifel Nicolaus reaffirmed a “buy” rating and set a $275.00 price objective on shares of Essex Property Trust in a research report on Wednesday, October 31st. Janney Montgomery Scott raised shares of Essex Property Trust from a “neutral” rating to a “buy” rating and set a $255.60 price objective for the company in a research report on Wednesday, December 19th. Finally, Capital One Financial initiated coverage on shares of Essex Property Trust in a research report on Monday, October 22nd. They set an “equal weight” rating and a $255.00 price objective for the company. Eleven investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $269.64.

Institutional investors have recently added to or reduced their stakes in the business. Ironwood Financial llc acquired a new stake in Essex Property Trust during the 4th quarter worth approximately $25,000. Acadian Asset Management LLC acquired a new stake in Essex Property Trust during the 4th quarter worth approximately $87,000. First Hawaiian Bank acquired a new stake in Essex Property Trust during the 3rd quarter worth approximately $101,000. Capital Guardian Trust Co. acquired a new stake in Essex Property Trust during the 3rd quarter worth approximately $113,000. Finally, Loeb Partners Corp acquired a new stake in Essex Property Trust during the 4th quarter worth approximately $123,000. Institutional investors own 98.89% of the company’s stock.

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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. The Company currently has ownership interests in 248 apartment communities comprising approximately 60,000 apartment homes, excluding six properties in various stages of active development, one commercial building, preferred equity co-investments, and loan investments.

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