Essex Property Trust Inc (NYSE:ESS) EVP John D. Eudy sold 166 shares of the company’s stock in a transaction on Monday, November 12th. The stock was sold at an average price of $254.03, for a total transaction of $42,168.98. Following the completion of the sale, the executive vice president now owns 9,818 shares of the company’s stock, valued at approximately $2,494,066.54. The transaction was disclosed in a filing with the SEC, which is available through this link.
Shares of ESS opened at $255.22 on Wednesday. The company has a market capitalization of $16.83 billion, a P/E ratio of 21.43, a P/E/G ratio of 3.34 and a beta of 0.20. The company has a current ratio of 1.31, a quick ratio of 1.31 and a debt-to-equity ratio of 0.88. Essex Property Trust Inc has a 1-year low of $214.03 and a 1-year high of $259.83.
Essex Property Trust (NYSE:ESS) last announced its earnings results on Monday, October 29th. The real estate investment trust reported $1.22 earnings per share for the quarter, missing analysts’ consensus estimates of $3.14 by ($1.92). The company had revenue of $350.92 million during the quarter, compared to analysts’ expectations of $351.58 million. Essex Property Trust had a net margin of 27.01% and a return on equity of 5.52%. During the same period in the prior year, the business earned $2.98 earnings per share. On average, analysts anticipate that Essex Property Trust Inc will post 12.56 EPS for the current fiscal year.
Several research firms recently weighed in on ESS. Capital One Financial restated an “equal weight” rating on shares of Essex Property Trust in a research report on Sunday, October 21st. Mizuho restated a “hold” rating and set a $263.00 price target on shares of Essex Property Trust in a research report on Monday, August 6th. DA Davidson reiterated a “neutral” rating on shares of Essex Property Trust in a research report on Monday, August 6th. Stifel Nicolaus reiterated a “buy” rating and set a $275.00 target price on shares of Essex Property Trust in a research report on Wednesday, October 31st. Finally, Raymond James upgraded shares of Essex Property Trust from an “underperform” rating to a “market perform” rating in a research report on Monday, July 23rd. Thirteen investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Essex Property Trust presently has a consensus rating of “Hold” and an average price target of $264.42.
Several hedge funds have recently bought and sold shares of ESS. First Hawaiian Bank purchased a new position in shares of Essex Property Trust during the third quarter worth approximately $101,000. Girard Partners LTD. bought a new stake in Essex Property Trust in the third quarter valued at $184,000. Piedmont Investment Advisors LLC bought a new stake in Essex Property Trust in the second quarter valued at $185,000. Destination Wealth Management bought a new stake in Essex Property Trust in the third quarter valued at $202,000. Finally, First Midwest Bank Trust Division bought a new stake in Essex Property Trust in the second quarter valued at $218,000. 96.54% of the stock is currently owned by hedge funds and other institutional investors.
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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 247 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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