Michael J. Schall Sells 334 Shares of Essex Property Trust, Inc. (ESS) Stock

Essex Property Trust, Inc. (NYSE:ESS) CEO Michael J. Schall sold 334 shares of the company’s stock in a transaction on Friday, November 10th. The shares were sold at an average price of $255.50, for a total value of $85,337.00. Following the sale, the chief executive officer now owns 45,097 shares of the company’s stock, valued at approximately $11,522,283.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Shares of Essex Property Trust, Inc. (NYSE:ESS) opened at $256.82 on Wednesday. Essex Property Trust, Inc. has a 52-week low of $208.92 and a 52-week high of $270.04. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.83 and a current ratio of 0.83. The company has a market capitalization of $17,079.16, a PE ratio of 22.10, a price-to-earnings-growth ratio of 3.66 and a beta of 0.54.

The company also recently declared a quarterly dividend, which was paid on Monday, October 16th. Shareholders of record on Friday, September 29th were given a dividend of $1.75 per share. The ex-dividend date of this dividend was Thursday, September 28th. This represents a $7.00 dividend on an annualized basis and a yield of 2.73%. Essex Property Trust’s dividend payout ratio is currently 87.61%.

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Several hedge funds have recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in shares of Essex Property Trust by 0.8% in the 2nd quarter. Vanguard Group Inc. now owns 11,496,906 shares of the real estate investment trust’s stock valued at $2,957,809,000 after buying an additional 92,531 shares during the period. BlackRock Inc. lifted its holdings in shares of Essex Property Trust by 1.5% in the 2nd quarter. BlackRock Inc. now owns 6,573,361 shares of the real estate investment trust’s stock valued at $1,691,128,000 after buying an additional 94,331 shares during the period. State Street Corp lifted its holdings in shares of Essex Property Trust by 0.7% in the 2nd quarter. State Street Corp now owns 4,744,926 shares of the real estate investment trust’s stock valued at $1,220,731,000 after buying an additional 30,726 shares during the period. Principal Financial Group Inc. lifted its holdings in shares of Essex Property Trust by 3.6% in the 3rd quarter. Principal Financial Group Inc. now owns 2,328,165 shares of the real estate investment trust’s stock valued at $591,424,000 after buying an additional 80,573 shares during the period. Finally, Bank of New York Mellon Corp lifted its holdings in shares of Essex Property Trust by 38.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,488,052 shares of the real estate investment trust’s stock valued at $382,832,000 after buying an additional 412,316 shares during the period. 98.45% of the stock is owned by institutional investors and hedge funds.

ESS has been the subject of a number of analyst reports. Zacks Investment Research upgraded Essex Property Trust from a “hold” rating to a “buy” rating and set a $289.00 price target for the company in a research report on Tuesday, July 18th. Robert W. Baird restated a “buy” rating and issued a $273.00 price target on shares of Essex Property Trust in a research report on Tuesday, September 12th. Stifel Nicolaus assumed coverage on Essex Property Trust in a research report on Friday, September 1st. They issued a “buy” rating and a $294.00 price target for the company. Cantor Fitzgerald reiterated a “buy” rating and set a $278.00 target price on shares of Essex Property Trust in a research report on Thursday, July 27th. Finally, Barclays PLC reiterated a “buy” rating and set a $283.00 target price on shares of Essex Property Trust in a research report on Thursday, October 19th. Three equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $266.87.

Essex Property Trust Company Profile

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.

Insider Buying and Selling by Quarter for Essex Property Trust (NYSE:ESS)

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