Insider Trading at Essex Property Trust Inc.?

Judith Bessette
Agosto 13, 2017

Strs Ohio owned approximately 0.14% of Essex Property Trust worth $23,594,000 as of its most recent SEC filing. Comerica Bank now owns 18,878 shares of the real estate investment trust's stock worth $4,558,000 after buying an additional 555 shares during the last quarter. Bank of New York Mellon Corp now owns 1,488,052 shares of the real estate investment trust's stock worth $382,832,000 after buying an additional 412,316 shares during the last quarter. Bank of Montreal Can raised its position in shares of Essex Property Trust by 139.6% in the first quarter. NY now owns 10,312 shares of the real estate investment trust's stock worth $223,000 after buying an additional 180 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Essex Property Trust by 2.1% in the first quarter.

As of quarter end Private Advisor Group, LLC had disposed of 1,292 shares trimming its holdings by 2.3%. Finally, National Pension Service increased its stake in Essex Property Trust by 7.2% in the first quarter. Kempen Capital Management N.v. now owns 13,104 shares worth $3,371,000. US Bancorp DE increased its position in shares of Columbia Property Trust by 0.6% in the first quarter. This repurchase authorization permits the real estate investment trust to buy up to 7.7% of its shares through open market purchases. Essex Property Trust Inc (ESS) has risen 15.01% since August 10, 2016 and is uptrending. Pggm Invests has invested 1.03% in Essex Property Trust Inc (NYSE:ESS). The company's stock had a trading volume of 356,435 shares.

Shares of Essex Property Trust, Inc.

The P/E ratio is 18.54 and market capitalization is 2.56B.

Company shares last traded at $261.66 which is marginally higher than $260.66, the 50 day moving average and which is significantly higher than the 200 day moving average of $245.45.

Essex Property Trust (NYSE:ESS) last posted its quarterly earnings data on Thursday, July 27th. The real estate investment trust reported $2.97 earnings per share for the quarter, beating the Zacks' consensus estimate of $2.92 by $0.05. The business had revenue of $339.06 million for the quarter, compared to analysts' expectations of $336.17 million. During the same quarter previous year, the company earned $2.74 earnings per share.

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The firm also recently declared a quarterly dividend, which was paid on Friday, July 14th. Shareholders of record on Friday, June 30th were given a dividend of $1.75 per share. This represents a $1.60 dividend on an annualized basis and a yield of 3.93%. The ex-dividend date is Wednesday, August 30th. Columbia Property Trust's payout ratio is 70.18%.

TRADEMARK VIOLATION NOTICE: This piece was originally reported by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are accessing this piece of content on another publication, it was copied illegally and republished in violation of United States and worldwide trademark and copyright laws. Columbia Property Trust had a net profit margin of 37.27% and a ROE of 5.55%. the company reported sales of $74.86 M for the period end, compared to analysts' anticipations of $79.51 M. For the same quarter from the prior fiscal year, company earned $0.48 Earnings Per Share.

A number of analysts have recently commented on ESS shares. Cantor Fitzgerald reaffirmed a "buy" rating and issued a $269.00 price objective on shares of Essex Property Trust in a report on Wednesday, May 3rd. They noted that the move was a valuation call. Zacks Investment Research downgraded Essex Property Trust from a "hold" rating to a "sell" rating in a research note on Tuesday, April 18th. The rating was downgraded by Evercore to "Underperform" on Monday, June 12. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and six have issued a buy rating to the stock. The stock presently has a consensus rating of "Hold" and a consensus price target of $263.46.

In related news, Director Gary P. Martin sold 1,000 shares of the business's stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $253.79, for a total transaction of $42,129.14. The value in dollars decreased from $2,859,000 to $2,809,000 a change of 1.7% since the last quarter. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. (NYSE:ESS) insider John D. Eudy sold 167 shares of the company's stock in a transaction that occurred on Thursday, August 10th. The stock was sold at an average price of $263.97, for a total transaction of $44,082.99. The disclosure for this sale can be found here. Insiders have sold 6,690 shares of company stock worth $1,717,142 in the last quarter. Stock repurchase programs are typically a sign that the company's board of directors believes its stock is undervalued.

Columbia Property Trust, Inc operates as a real estate investment trust (REIT), which owns and operates commercial real estate properties. 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.

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