Thomas Robinson, a director at Essex Property Trust Inc (NYSE:ESS), has sold 2,781 shares of the company on March 11, 2024, according to a recent SEC filing. The transaction was executed at an average price of $243.92 per share, resulting in a total value of $678,555.52.
Essex Property Trust Inc is a real estate investment trust (REIT) that acquires, develops, redevelops, and manages multifamily residential properties primarily on the West Coast of the United States. The company's portfolio consists of various properties that cater to middle to upper-middle income demographic markets.
Over the past year, the insider has engaged in the sale of 2,781 shares and has not made any purchases of the company's stock. The recent transaction reflects the only insider sell activity for the company over the past year, with no insider buys recorded during the same period.
The market capitalization of Essex Property Trust Inc stands at $15.559 billion, with the stock trading at $243.92 on the day of the insider's sale.
The company's price-earnings ratio is currently 38.41, which is above the industry median of 16.815. However, it is below the historical median price-earnings ratio for Essex Property Trust Inc.
According to the GuruFocus Value indicator, with a stock price of $243.92 and a GF Value of $303.09, Essex Property Trust Inc is considered modestly undervalued, with a price-to-GF-Value ratio of 0.8. The GF Value is calculated based on historical trading multiples, a GuruFocus adjustment factor, and future business performance estimates provided by Morningstar analysts.
The insider's recent sell transaction may be of interest to investors monitoring insider activities as an indicator of confidence in the company's future prospects. However, it is important to consider the broader context of the company's financial performance, market valuation, and other insider transactions when evaluating the significance of this sale.
This article, generated by GuruFocus, is designed to provide general insights and is not tailored financial advice. Our commentary is rooted in historical data and analyst projections, utilizing an impartial methodology, and is not intended to serve as specific investment guidance. It does not formulate a recommendation to purchase or divest any stock and does not consider individual investment objectives or financial circumstances. Our objective is to deliver long-term, fundamental data-driven analysis. Be aware that our analysis might not incorporate the most recent, price-sensitive company announcements or qualitative information. GuruFocus holds no position in the stocks mentioned herein.
