Essex property trust director sells shares worth $842,240

Published 13/03/2025, 21:24
Essex property trust director sells shares worth $842,240

Mary Kasaris, a director at Essex Property Trust (NYSE:ESS), recently sold 2,800 shares of the company’s common stock. The transaction, which took place on March 11, 2025, was executed at an average price of $300.80 per share, amounting to a total sale value of approximately $842,240. The real estate investment trust, currently valued at $19.2 billion, has maintained dividend payments for 32 consecutive years, offering investors a 3.51% yield. According to InvestingPro analysis, the stock is trading close to its Fair Value.

In a separate transaction on the same day, Kasaris acquired 2,800 shares through an exercise of stock options at a price of $216.31 per share. This acquisition was valued at $605,668. Following these transactions, Kasaris holds 1,755 shares directly and an additional 450 shares indirectly through a trust. For deeper insights into insider trading patterns and comprehensive financial analysis, including 5+ additional ProTips, check out the detailed Essex Property Trust research report on InvestingPro.

In other recent news, Essex Property Trust has issued $400 million in senior notes, set to mature on April 1, 2035, with an interest rate of 5.375%. The proceeds from this issuance are intended to repay upcoming debt maturities, including a portion of $500 million in senior notes due in April 2025, and for general corporate purposes. Piper Sandler has maintained an Overweight rating on Essex Property Trust, with a price target of $370, citing potential growth in Northern California and Seattle markets. This outlook is supported by anticipated policy shifts and a recovery in tech employment, which could benefit the company’s strategic positioning in these regions.

Additionally, BMO Capital Markets has upgraded Essex Property Trust’s stock rating from Market Perform to Outperform, although it reduced the price target from $323 to $310 due to higher interest rates impacting the real estate market. The firm noted that recent wildfires in Los Angeles could unexpectedly boost demand for multifamily housing units, potentially increasing occupancy rates for Essex Property Trust. The company’s significant presence in Los Angeles positions it to capitalize on this increased demand. Meanwhile, the senior notes offering was managed by several financial institutions, including J.P. Morgan Securities LLC and Wells Fargo (NYSE:WFC) Securities, LLC.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers
© 2007-2025 - Fusion Media Limited. All Rights Reserved.