Robert W. Baird reiterated their buy rating on shares of Essex Property Trust, Inc. (NYSE:ESS) in a research report sent to investors on Tuesday, October 17th. Robert W. Baird currently has a $273.00 target price on the real estate investment trust’s stock.
A number of other equities analysts also recently weighed in on the stock. BidaskClub raised shares of Essex Property Trust from a buy rating to a strong-buy rating in a research note on Tuesday, June 20th. BTIG Research downgraded shares of Essex Property Trust from a buy rating to a neutral rating in a research note on Friday, June 30th. Barclays PLC lifted their price target on shares of Essex Property Trust from $267.00 to $269.00 and gave the company an overweight rating in a research note on Tuesday, July 18th. Royal Bank Of Canada reissued a buy rating and set a $267.00 target price on shares of Essex Property Trust in a research report on Sunday, July 16th. Finally, Zacks Investment Research raised shares of Essex Property Trust from a hold rating to a buy rating and set a $289.00 target price for the company in a research report on Tuesday, July 18th. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Essex Property Trust presently has an average rating of Hold and an average price target of $266.93.
Shares of Essex Property Trust (ESS) traded up $1.47 during trading on Tuesday, reaching $255.45. 160,587 shares of the company’s stock were exchanged, compared to its average volume of 297,370. The firm has a market capitalization of $16,930.00, a price-to-earnings ratio of 21.71, a P/E/G ratio of 3.59 and a beta of 0.54. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.83 and a quick ratio of 1.83. Essex Property Trust has a 1 year low of $208.92 and a 1 year high of $270.04.
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The business also recently declared a quarterly dividend, which was paid on Monday, October 16th. Stockholders of record on Friday, September 29th were issued a dividend of $1.75 per share. This represents a $7.00 dividend on an annualized basis and a dividend yield of 2.74%. The ex-dividend date was Thursday, September 28th. Essex Property Trust’s payout ratio is presently 87.72%.
In related news, CEO Michael J. Schall sold 333 shares of the business’s stock in a transaction on Thursday, August 10th. The shares were sold at an average price of $263.97, for a total value of $87,902.01. Following the sale, the chief executive officer now owns 45,096 shares in the company, valued at $11,903,991.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider John D. Eudy sold 167 shares of the business’s stock in a transaction on Thursday, August 10th. The shares were sold at an average price of $263.97, for a total transaction of $44,082.99. Following the transaction, the insider now owns 8,597 shares in the company, valued at approximately $2,269,350.09. The disclosure for this sale can be found here. In the last three months, insiders sold 10,064 shares of company stock worth $2,673,529. 3.30% of the stock is currently owned by insiders.
A number of large investors have recently added to or reduced their stakes in the stock. Tower Research Capital LLC TRC raised its holdings in Essex Property Trust by 145.3% in the second quarter. Tower Research Capital LLC TRC now owns 471 shares of the real estate investment trust’s stock worth $121,000 after purchasing an additional 279 shares in the last quarter. Sun Life Financial INC raised its holdings in Essex Property Trust by 5,900.0% in the second quarter. Sun Life Financial INC now owns 480 shares of the real estate investment trust’s stock worth $123,000 after purchasing an additional 472 shares in the last quarter. FNY Partners Fund LP bought a new position in Essex Property Trust in the first quarter worth about $165,000. Perigon Wealth Management LLC raised its holdings in Essex Property Trust by 835.2% in the first quarter. Perigon Wealth Management LLC now owns 823 shares of the real estate investment trust’s stock worth $192,000 after purchasing an additional 735 shares in the last quarter. Finally, Breton Hill Capital Ltd. bought a new position in Essex Property Trust in the third quarter worth about $200,000. 99.98% of the stock is owned by institutional investors.
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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