Essex Property Trust, Inc. (NYSE:ESS) Director Irving F. Lyons III sold 7,329 shares of Essex Property Trust stock in a transaction on Tuesday, July 20th. The shares were sold at an average price of $329.90, for a total value of $2,417,837.10. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.
Irving F. Lyons III also recently made the following trade(s):
- On Wednesday, July 14th, Irving F. Lyons III sold 2,609 shares of Essex Property Trust stock. The shares were sold at an average price of $324.28, for a total value of $846,046.52.
ESS traded down $0.20 on Wednesday, hitting $330.53. 301,726 shares of the stock traded hands, compared to its average volume of 398,683. Essex Property Trust, Inc. has a 52 week low of $186.30 and a 52 week high of $334.40. The company has a quick ratio of 2.40, a current ratio of 2.40 and a debt-to-equity ratio of 0.98. The company has a market cap of $21.48 billion, a price-to-earnings ratio of 51.48, a PEG ratio of 7.49 and a beta of 0.73. The business has a fifty day moving average of $305.51.
Essex Property Trust (NYSE:ESS) last released its quarterly earnings data on Tuesday, April 27th. The real estate investment trust reported $2.59 earnings per share for the quarter, missing the consensus estimate of $3.04 by ($0.45). Essex Property Trust had a net margin of 28.95% and a return on equity of 6.58%. During the same period in the prior year, the business earned $3.48 earnings per share. On average, research analysts forecast that Essex Property Trust, Inc. will post 12.24 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 15th. Stockholders of record on Wednesday, June 30th were paid a $2.09 dividend. The ex-dividend date of this dividend was Tuesday, June 29th. This represents a $8.36 annualized dividend and a dividend yield of 2.53%. Essex Property Trust's dividend payout ratio is currently 65.21%.
A number of research analysts have recently weighed in on the company. Truist Securities lifted their price target on Essex Property Trust from $295.00 to $327.00 and gave the company a "buy" rating in a report on Friday, June 4th. Zacks Investment Research raised Essex Property Trust from a "sell" rating to a "hold" rating and set a $302.00 price objective for the company in a research report on Tuesday, April 13th. Wolfe Research initiated coverage on Essex Property Trust in a research report on Monday, June 14th. They set a "peer perform" rating and a $351.00 price objective for the company. KeyCorp lifted their price objective on Essex Property Trust from $300.00 to $341.00 and gave the company an "overweight" rating in a research report on Thursday, July 15th. Finally, Evercore ISI reissued an "in-line" rating on shares of Essex Property Trust in a research report on Monday, May 10th. Eight analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The company currently has an average rating of "Hold" and a consensus target price of $299.56.
Several hedge funds have recently added to or reduced their stakes in the company. CX Institutional grew its stake in shares of Essex Property Trust by 32.1% in the 1st quarter. CX Institutional now owns 173 shares of the real estate investment trust's stock valued at $47,000 after purchasing an additional 42 shares during the period. TownSquare Capital LLC grew its stake in shares of Essex Property Trust by 2.3% in the 1st quarter. TownSquare Capital LLC now owns 1,884 shares of the real estate investment trust's stock valued at $512,000 after purchasing an additional 42 shares during the period. SOA Wealth Advisors LLC. boosted its holdings in shares of Essex Property Trust by 74.6% in the 1st quarter. SOA Wealth Advisors LLC. now owns 110 shares of the real estate investment trust's stock worth $30,000 after acquiring an additional 47 shares in the last quarter. Franklin Resources Inc. boosted its holdings in shares of Essex Property Trust by 2.3% in the 1st quarter. Franklin Resources Inc. now owns 2,191 shares of the real estate investment trust's stock worth $596,000 after acquiring an additional 49 shares in the last quarter. Finally, Cigna Investments Inc. New boosted its holdings in shares of Essex Property Trust by 2.5% in the 1st quarter. Cigna Investments Inc. New now owns 2,362 shares of the real estate investment trust's stock worth $642,000 after acquiring an additional 58 shares in the last quarter. Institutional investors own 92.35% of the company's stock.
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 246 apartment communities comprising approximately 60,000 apartment homes with an additional 6 properties in various stages of active development.
Featured Article: Growth Stocks, What They Are, What They Are Not
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected]
Before you consider Essex Property Trust, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Essex Property Trust wasn't on the list.
While Essex Property Trust currently has a "Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The 5 Stocks Here