We recently published a list of 20 Most Expensive Stocks Insiders Are Dumping In March. In this article, we are going to take a look at where Essex Property Trust, Inc. (NYSE:ESS) stands against other most expensive stocks insiders are dumping in March.
After being in the green for a few trading sessions, the broader market index slid 0.8% on Wednesday, and blue-chip companies declined 0.1%. The NASDAQ Composite was down 1.6% in the early afternoon. On Tuesday, Trump provided an update on tariffs, saying they will likely be more “lenient than reciprocal,” suggesting a more relaxed approach, reports CNBC.
As investors process daily market developments, uncertainty continues to impact the market. In these periods, insider trading often attracts attention, as purchases of company stock by executives may suggest confidence in the company’s future. However, insider selling doesn’t necessarily imply a lack of faith—it may be driven by personal financial needs or a desire for diversification. Executives frequently rely on pre-established plans, such as 10b5-1, to maintain transparency. While insider trading can provide useful insights, it should be evaluated in the context of a company’s financial health, market trends, and industry changes.
What are some of the most expensive stocks insiders have been selling this month so far? To find out, we used Insider Monkey’s insider trading stock screener, focusing only on stocks where at least three insiders had sold shares in March. From there, we ranked the 20 stocks with the highest average price per share in times of sales.
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With each stock, we note the average price per share of these sales and the stock’s market capitalization.
A telecom tower in the landscape surrounded by the base station infrastructure products of the company.
Essex Property Trust, Inc. (NYSE:ESS)
Market Capitalization: $21.00 billion
Essex Property Trust, Inc. (NYSE:ESS) is a real estate investment trust (REIT) that owns and manages over 62,000 apartment homes across the West Coast, including Southern California, the San Francisco Bay Area, and Seattle. The company focuses on strategic acquisitions and developments to optimize its portfolio, targeting strong job growth and innovation in these markets. Essex is a leading choice for apartment investments and is part of the S&P 500.
For the full year of 2024, Essex Property (NYSE:ESS) reported a net income per diluted share of $11.54 compared to $6.32 in 2023. For the full year 2024, the company acquired or increased its ownership interest in 13 apartment communities for a total contract price of $1.4 billion on a gross basis and disposed of one apartment community for a contract price of $252.4 million on a gross basis. For the full year 2024, the company received cash proceeds of $108.8 million from redemptions of structured finance investments yielding a weighted average return rate of 10.4%.
This month, five insiders, including the CEO and CFO, sold around $6.78 million worth of Essex Property shares at an average price of $314.94 per share. Year-to-date, the stock is up 6.53%, trading at $304.07 per share. Over the past 12 months, Essex Property shares returned 28.11% to its investors.
Twenty analysts rate Essex Property stock as “Hold” with a price target of $307.16, reports MarketBeat. The average price target suggests a potential upside of 0.82% from the latest price.
Essex Property (NYSE:ESS) is also one of the 12 best self storage and apartment stocks to invest in.
Overall, ESS ranks 20th on our list of most expensive stocks insiders are dumping in March. While we acknowledge the potential of ESS our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns, and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than ESS but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.
READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires.
Disclosure: None. This article is originally published at Insider Monkey.
