Purchased 43.2994 Shares Essex Property Trust

Today, the Value Investment Fund purchased a second tranche of Essex Property Trust. After calculating the intrinsic value of Essex Property Trust at $256, the REITs Pool allocated $10,000 for a second purchase of Essex Property Trust once the price dipped below $230 per share. Today, 01/11/21 at 12:38 PM, the stock price dropped to $229.95. Using a $1 per share transaction fee, the fund purchased 43.2994 Shares of Essex Property Trust; thus the total cumulative owned and invested is:

Essex Property Trust (Tranche #1)     48.9644 Shares on 10/24/2020; total basis of $10,000
Essex Property Trust (Tranche #2)     43.2994 Shares on 01/11/2021; total basis of $10,000

Thus, the fund’s cumulative investment for Essex Property Trust equals $20,000 owning 92.2638 shares with an average cost basis of $216.77 per share. The first tranche was purchased at $204.23 including the $1 per share transaction fee. Act on Knowledge.

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