Essex Property Trust, Inc. (NYSE:ESS) Director Byron A. Scordelis sold 6,265 shares of Essex Property Trust stock in a transaction on Thursday, August 24th. The shares were sold at an average price of $267.39, for a total value of $1,675,198.35. Following the transaction, the director now owns 4,986 shares in the company, valued at approximately $1,333,206.54. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Shares of Essex Property Trust, Inc. (ESS) opened at 266.07 on Tuesday. The firm has a market cap of $17.56 billion, a PE ratio of 34.21 and a beta of 0.52. The firm has a 50 day moving average price of $261.58 and a 200-day moving average price of $248.50. Essex Property Trust, Inc. has a 12 month low of $200.01 and a 12 month high of $268.97.

Essex Property Trust (NYSE:ESS) last issued its quarterly earnings data on Thursday, July 27th. The real estate investment trust reported $2.97 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.92 by $0.05. Essex Property Trust had a net margin of 38.33% and a return on equity of 8.03%. The business had revenue of $339.06 million during the quarter, compared to the consensus estimate of $336.17 million. During the same period in the prior year, the firm posted $2.74 EPS. On average, analysts predict that Essex Property Trust, Inc. will post $5.95 EPS for the current fiscal year.

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A number of large investors have recently modified their holdings of the company. State Treasurer State of Michigan increased its stake in shares of Essex Property Trust by 0.5% in the first quarter. State Treasurer State of Michigan now owns 21,502 shares of the real estate investment trust’s stock worth $4,978,000 after buying an additional 100 shares during the last quarter. Commerzbank Aktiengesellschaft FI increased its stake in shares of Essex Property Trust by 101.8% in the first quarter. Commerzbank Aktiengesellschaft FI now owns 2,484 shares of the real estate investment trust’s stock worth $575,000 after buying an additional 1,253 shares during the last quarter. Great West Life Assurance Co. Can increased its stake in shares of Essex Property Trust by 8.7% in the first quarter. Great West Life Assurance Co. Can now owns 94,713 shares of the real estate investment trust’s stock worth $21,912,000 after buying an additional 7,543 shares during the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its stake in shares of Essex Property Trust by 2.9% in the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 21,541 shares of the real estate investment trust’s stock worth $4,987,000 after buying an additional 603 shares during the last quarter. Finally, Canada Pension Plan Investment Board increased its stake in shares of Essex Property Trust by 194.1% in the first quarter. Canada Pension Plan Investment Board now owns 65,005 shares of the real estate investment trust’s stock worth $15,051,000 after buying an additional 42,900 shares during the last quarter. 99.55% of the stock is owned by institutional investors and hedge funds.

ESS has been the topic of a number of research analyst reports. Canaccord Genuity set a $270.00 price target on Essex Property Trust and gave the company a “hold” rating in a report on Monday, July 31st. Royal Bank Of Canada restated an “outperform” rating and issued a $267.00 target price (up previously from $248.00) on shares of Essex Property Trust in a research note on Tuesday, May 16th. Mizuho upgraded Essex Property Trust from a “neutral” rating to a “buy” rating and boosted their target price for the company from $199.00 to $212.00 in a research note on Monday, May 1st. Morgan Stanley boosted their target price on Essex Property Trust from $260.00 to $267.00 and gave the company an “overweight” rating in a research note on Wednesday, August 16th. Finally, Cantor Fitzgerald restated a “buy” rating and issued a $278.00 target price on shares of Essex Property Trust in a research note on Thursday, July 27th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. Essex Property Trust presently has a consensus rating of “Hold” and a consensus price target of $265.54.

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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