Craig K. Zimmerman Sells 167 Shares of Essex Property Trust, Inc. (ESS) Stock

Essex Property Trust, Inc. (NYSE:ESS) insider Craig K. Zimmerman sold 167 shares of Essex Property Trust stock in a transaction on Monday, September 11th. The stock was sold at an average price of $267.02, for a total transaction of $44,592.34. Following the sale, the insider now directly owns 10,450 shares in the company, valued at approximately $2,790,359. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Shares of Essex Property Trust, Inc. (NYSE:ESS) traded down 1.78% during mid-day trading on Tuesday, reaching $264.59. 360,229 shares of the company’s stock were exchanged. The stock has a 50 day moving average price of $264.20 and a 200 day moving average price of $251.57. The stock has a market cap of $17.46 billion, a price-to-earnings ratio of 34.02 and a beta of 0.53. Essex Property Trust, Inc. has a 52 week low of $200.01 and a 52 week high of $270.04.

Essex Property Trust (NYSE:ESS) last released its quarterly earnings data on Thursday, July 27th. The real estate investment trust reported $2.97 earnings per share for the quarter, beating the consensus estimate of $2.92 by $0.05. The business had revenue of $339.06 million for the quarter, compared to analyst estimates of $336.17 million. Essex Property Trust had a return on equity of 8.03% and a net margin of 38.33%. During the same period in the previous year, the company posted $2.74 EPS. Equities research analysts predict that Essex Property Trust, Inc. will post $5.89 EPS for the current year.

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Several research analysts have recently weighed in on the stock. Canaccord Genuity set a $270.00 price target on shares of Essex Property Trust and gave the company a “hold” rating in a research report on Monday, July 31st. Royal Bank Of Canada reissued an “outperform” rating and set a $267.00 price target (up previously from $248.00) on shares of Essex Property Trust in a research report on Tuesday, May 16th. Morgan Stanley boosted their price target on shares of Essex Property Trust from $260.00 to $267.00 and gave the company an “overweight” rating in a research report on Wednesday, August 16th. Stifel Nicolaus assumed coverage on shares of Essex Property Trust in a research report on Friday, September 1st. They set a “buy” rating and a $294.00 price target on the stock. Finally, Cantor Fitzgerald reissued a “buy” rating and set a $278.00 price target on shares of Essex Property Trust in a research report on Thursday, July 27th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $267.57.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ESS. Tower Research Capital LLC TRC raised its holdings in shares of Essex Property Trust by 145.3% during the 2nd quarter. Tower Research Capital LLC TRC now owns 471 shares of the real estate investment trust’s stock valued at $121,000 after buying an additional 279 shares during the period. Sun Life Financial INC raised its holdings in shares of Essex Property Trust by 5,900.0% during the 2nd quarter. Sun Life Financial INC now owns 480 shares of the real estate investment trust’s stock valued at $123,000 after buying an additional 472 shares during the period. Muzinich & Co. Inc. raised its holdings in shares of Essex Property Trust by 246.5% during the 1st quarter. Muzinich & Co. Inc. now owns 551 shares of the real estate investment trust’s stock valued at $128,000 after buying an additional 392 shares during the period. Advisors Asset Management Inc. raised its holdings in shares of Essex Property Trust by 118.0% during the 1st quarter. Advisors Asset Management Inc. now owns 654 shares of the real estate investment trust’s stock valued at $151,000 after buying an additional 354 shares during the period. Finally, FNY Partners Fund LP purchased a new stake in shares of Essex Property Trust during the 1st quarter valued at about $165,000. 99.55% of the stock is currently owned by institutional investors and hedge funds.

About Essex Property Trust

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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