Essex Property Trust (NYSE:ESS) Earning Somewhat Positive Press Coverage, Study Finds
Media headlines about Essex Property Trust (NYSE:ESS) have been trending somewhat positive recently, Accern Sentiment reports. The research group identifies negative and positive news coverage by reviewing more than twenty million blog and news sources. Accern ranks coverage of public companies on a scale of negative one to positive one, with scores nearest to one being the most favorable. Essex Property Trust earned a coverage optimism score of 0.16 on Accern’s scale. Accern also assigned news articles about the real estate investment trust an impact score of 47.9090455970153 out of 100, indicating that recent news coverage is somewhat unlikely to have an impact on the company’s share price in the next few days.
Several equities research analysts recently weighed in on the stock. Citigroup raised shares of Essex Property Trust to an “overweight” rating and upped their price objective for the stock from $253.00 to $278.00 in a research report on Wednesday, January 3rd. They noted that the move was a valuation call. BMO Capital Markets reaffirmed a “hold” rating and set a $250.00 price objective on shares of Essex Property Trust in a research report on Tuesday, January 9th. Mizuho cut shares of Essex Property Trust from a “neutral” rating to an “underperform” rating and set a $250.00 target price for the company. in a report on Monday, November 6th. Barclays reissued a “buy” rating and issued a $283.00 target price on shares of Essex Property Trust in a report on Thursday, October 19th. Finally, Royal Bank of Canada reissued a “buy” rating on shares of Essex Property Trust in a report on Sunday, November 12th. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. Essex Property Trust has an average rating of “Hold” and a consensus target price of $265.94.
Essex Property Trust (NYSE ESS) traded down $0.99 during trading hours on Tuesday, reaching $226.75. 47,609 shares of the company’s stock were exchanged, compared to its average volume of 351,344. The firm has a market cap of $15,177.29, a P/E ratio of 28.50, a PEG ratio of 2.97 and a beta of 0.50. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.83 and a quick ratio of 0.83. Essex Property Trust has a twelve month low of $218.41 and a twelve month high of $270.04.
The company also recently announced a quarterly dividend, which was paid on Tuesday, January 16th. Shareholders of record on Friday, December 29th were given a dividend of $1.75 per share. This represents a $7.00 dividend on an annualized basis and a yield of 3.09%. The ex-dividend date was Thursday, December 28th. Essex Property Trust’s dividend payout ratio is presently 87.61%.
In other news, Director Gary P. Martin sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, November 6th. The shares were sold at an average price of $255.59, for a total transaction of $255,590.00. Following the completion of the sale, the director now owns 6,236 shares of the company’s stock, valued at approximately $1,593,859.24. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Craig K. Zimmerman sold 167 shares of the firm’s stock in a transaction that occurred on Friday, November 10th. The stock was sold at an average price of $255.50, for a total transaction of $42,668.50. Following the sale, the insider now directly owns 10,450 shares of the company’s stock, valued at approximately $2,669,975. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 9,687 shares of company stock valued at $2,408,772. Insiders own 3.30% of the company’s stock.
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.
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