Essex Property Trust Inc (NYSE:ESS) Insider John F. Burkart Sells 13,807 Shares
Essex Property Trust Inc (NYSE:ESS) insider John F. Burkart sold 13,807 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $312.62, for a total value of $4,316,344.34. Following the completion of the transaction, the insider now owns 17,726 shares in the company, valued at approximately $5,541,502.12. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.
NYSE:ESS opened at $314.72 on Friday. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.92. The stock has a market capitalization of $20.20 billion, a PE ratio of 25.04, a price-to-earnings-growth ratio of 3.73 and a beta of 0.37. The firm’s 50 day moving average is $302.28 and its 200 day moving average is $290.03. Essex Property Trust Inc has a 12 month low of $235.51 and a 12 month high of $316.88.
Essex Property Trust (NYSE:ESS) last posted its quarterly earnings results on Wednesday, July 24th. The real estate investment trust reported $1.40 EPS for the quarter, missing analysts’ consensus estimates of $3.26 by ($1.86). The company had revenue of $361.64 million during the quarter, compared to the consensus estimate of $358.15 million. Essex Property Trust had a return on equity of 6.43% and a net margin of 28.83%. During the same period last year, the firm posted $3.14 EPS. Research analysts predict that Essex Property Trust Inc will post 13.29 earnings per share for the current year.
A number of brokerages have recently weighed in on ESS. Citigroup boosted their target price on Essex Property Trust from $280.00 to $300.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 30th. Barclays boosted their target price on Essex Property Trust from $310.00 to $328.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 16th. BMO Capital Markets set a $310.00 target price on Essex Property Trust and gave the stock a “hold” rating in a research note on Wednesday, July 24th. Robert W. Baird downgraded Essex Property Trust from an “outperform” rating to a “neutral” rating and boosted their target price for the stock from $297.00 to $302.00 in a research note on Tuesday, June 18th. Finally, Morgan Stanley boosted their target price on Essex Property Trust from $292.00 to $320.00 and gave the stock an “overweight” rating in a research note on Thursday, June 27th. Eight research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Essex Property Trust presently has an average rating of “Buy” and an average price target of $296.73.
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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