Essex Property Trust Inc (NYSE:ESS) Director Irving F. Lyons III sold 2,500 shares of the firm’s stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $324.05, for a total transaction of $810,125.00. Following the completion of the transaction, the director now directly owns 10,372 shares of the company’s stock, valued at $3,361,046.60. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.
Shares of NYSE:ESS opened at $329.03 on Friday. The firm has a fifty day moving average price of $310.31 and a two-hundred day moving average price of $315.03. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.59 and a quick ratio of 1.59. Essex Property Trust Inc has a one year low of $271.58 and a one year high of $334.17. The company has a market cap of $21.55 billion, a price-to-earnings ratio of 24.41, a PEG ratio of 3.88 and a beta of 0.32.
Essex Property Trust (NYSE:ESS) last announced its quarterly earnings results on Wednesday, January 29th. The real estate investment trust reported $1.95 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $3.42 by ($1.47). Essex Property Trust had a net margin of 30.08% and a return on equity of 6.90%. The firm had revenue of $375.37 million during the quarter, compared to the consensus estimate of $373.65 million. During the same period in the previous year, the business earned $3.19 earnings per share. Equities research analysts expect that Essex Property Trust Inc will post 14.02 EPS for the current fiscal year.
Large investors have recently made changes to their positions in the business. Valeo Financial Advisors LLC bought a new position in Essex Property Trust in the 4th quarter valued at $30,000. HWG Holdings LP bought a new position in Essex Property Trust in the 3rd quarter valued at $31,000. Prime Capital Investment Advisors LLC bought a new position in Essex Property Trust in the 3rd quarter valued at $46,000. FTB Advisors Inc. boosted its holdings in Essex Property Trust by 33.1% in the 3rd quarter. FTB Advisors Inc. now owns 157 shares of the real estate investment trust’s stock valued at $51,000 after purchasing an additional 39 shares during the period. Finally, AdvisorNet Financial Inc boosted its holdings in Essex Property Trust by 1,241.7% in the 3rd quarter. AdvisorNet Financial Inc now owns 161 shares of the real estate investment trust’s stock valued at $53,000 after purchasing an additional 149 shares during the period. 94.39% of the stock is owned by hedge funds and other institutional investors.
ESS has been the subject of several analyst reports. Royal Bank of Canada downgraded shares of Essex Property Trust from an “outperform” rating to a “sector perform” rating and cut their price objective for the stock from $320.00 to $315.00 in a report on Wednesday, December 18th. BMO Capital Markets downgraded shares of Essex Property Trust from a “market perform” rating to an “underperform” rating and cut their price objective for the stock from $320.00 to $295.00 in a report on Tuesday, January 28th. Sandler O’Neill raised shares of Essex Property Trust from a “hold” rating to a “buy” rating and set a $355.00 price objective for the company in a report on Monday, November 18th. SunTrust Banks raised their price objective on shares of Essex Property Trust from $315.00 to $330.00 and gave the stock a “hold” rating in a report on Friday. Finally, Evercore ISI raised shares of Essex Property Trust from an “in-line” rating to an “outperform” rating and set a $341.00 price objective for the company in a report on Tuesday, November 19th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have assigned a buy rating to the company. Essex Property Trust currently has an average rating of “Hold” and a consensus target price of $331.64.
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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