Traders sold shares of Essex Property Trust Inc (NYSE:ESS) on strength during trading hours on Friday. $19.54 million flowed into the stock on the tick-up and $38.29 million flowed out of the stock on the tick-down, for a money net flow of $18.75 million out of the stock. Of all stocks tracked, Essex Property Trust had the 0th highest net out-flow for the day. Essex Property Trust traded up $0.21 for the day and closed at $253.93
A number of research firms have recently commented on ESS. Mizuho restated a “hold” rating and set a $265.00 target price on shares of Essex Property Trust in a research report on Monday, November 5th. BMO Capital Markets cut Essex Property Trust from an “outperform” rating to a “market perform” rating and raised their target price for the company from $255.00 to $260.00 in a research report on Friday, November 2nd. Stifel Nicolaus restated a “buy” rating and set a $275.00 target price on shares of Essex Property Trust in a research report on Wednesday, October 31st. Mitsubishi UFJ Financial Group raised their target price on Essex Property Trust from $266.00 to $270.00 and gave the company an “overweight” rating in a research report on Wednesday, October 31st. Finally, Capital One Financial restated an “equal weight” rating on shares of Essex Property Trust in a research report on Sunday, October 21st. Thirteen analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $264.42.
The company has a market cap of $16.76 billion, a price-to-earnings ratio of 21.32, a PEG ratio of 3.33 and a beta of 0.20. The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.31 and a current ratio of 1.31.
Essex Property Trust (NYSE:ESS) last issued its quarterly earnings results on Monday, October 29th. The real estate investment trust reported $1.22 earnings per share for the quarter, missing the Zacks’ consensus estimate of $3.14 by ($1.92). The company had revenue of $350.92 million during the quarter, compared to analysts’ expectations of $351.58 million. Essex Property Trust had a net margin of 27.01% and a return on equity of 5.52%. During the same period in the prior year, the business posted $2.98 earnings per share. As a group, analysts predict that Essex Property Trust Inc will post 12.56 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, October 12th. Investors of record on Friday, September 28th were paid a $1.86 dividend. This represents a $7.44 dividend on an annualized basis and a yield of 2.93%. The ex-dividend date was Thursday, September 27th. Essex Property Trust’s dividend payout ratio is presently 62.47%.
In other Essex Property Trust news, insider Angela L. Kleiman sold 750 shares of the firm’s stock in a transaction that occurred on Thursday, August 16th. The shares were sold at an average price of $240.80, for a total value of $180,600.00. Following the transaction, the insider now directly owns 9,149 shares of the company’s stock, valued at approximately $2,203,079.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider John D. Eudy sold 1,834 shares of the firm’s stock in a transaction that occurred on Wednesday, October 24th. The stock was sold at an average price of $252.13, for a total transaction of $462,406.42. Following the completion of the transaction, the insider now directly owns 11,486 shares in the company, valued at $2,895,965.18. The disclosure for this sale can be found here. Insiders sold a total of 6,597 shares of company stock worth $1,659,153 over the last ninety days. 3.30% of the stock is currently owned by corporate insiders.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Bbva Compass Bancshares Inc. lifted its stake in Essex Property Trust by 20.7% in the 2nd quarter. Bbva Compass Bancshares Inc. now owns 1,354 shares of the real estate investment trust’s stock worth $324,000 after purchasing an additional 232 shares in the last quarter. Nissay Asset Management Corp Japan ADV lifted its stake in Essex Property Trust by 3.3% in the 2nd quarter. Nissay Asset Management Corp Japan ADV now owns 9,417 shares of the real estate investment trust’s stock worth $2,251,000 after purchasing an additional 298 shares in the last quarter. Parallel Advisors LLC lifted its stake in Essex Property Trust by 14.3% in the 3rd quarter. Parallel Advisors LLC now owns 2,402 shares of the real estate investment trust’s stock worth $593,000 after purchasing an additional 301 shares in the last quarter. Amalgamated Bank lifted its stake in Essex Property Trust by 4.1% in the 2nd quarter. Amalgamated Bank now owns 8,467 shares of the real estate investment trust’s stock worth $2,024,000 after purchasing an additional 330 shares in the last quarter. Finally, Eii Capital Management Inc. lifted its stake in Essex Property Trust by 3.8% in the 3rd quarter. Eii Capital Management Inc. now owns 9,130 shares of the real estate investment trust’s stock worth $2,334,000 after purchasing an additional 331 shares in the last quarter. 95.81% of the stock is currently owned by institutional investors and hedge funds.
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About Essex Property Trust (NYSE:ESS)
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. The Company currently has ownership interests in 247 apartment communities comprising approximately 60,000 apartment homes, excluding six properties in various stages of active development, one commercial building, preferred equity co-investments, and loan investments.
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