O Shaughnessy Asset Management LLC lowered its position in shares of Essex Property Trust, Inc. (NYSE:ESS – Free Report) by 2.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,307 shares of the real estate investment trust’s stock after selling 127 shares during the quarter. O Shaughnessy Asset Management LLC’s holdings in Essex Property Trust were worth $1,299,000 as of its most recent SEC filing.
Other institutional investors have also bought and sold shares of the company. Lindbrook Capital LLC boosted its position in shares of Essex Property Trust by 111.5% during the 4th quarter. Lindbrook Capital LLC now owns 110 shares of the real estate investment trust’s stock worth $27,000 after purchasing an additional 58 shares in the last quarter. Venturi Wealth Management LLC raised its holdings in shares of Essex Property Trust by 112.3% in the 1st quarter. Venturi Wealth Management LLC now owns 138 shares of the real estate investment trust’s stock worth $34,000 after acquiring an additional 73 shares during the last quarter. Vima LLC acquired a new stake in shares of Essex Property Trust in the 4th quarter worth about $40,000. Bear Mountain Capital Inc. acquired a new stake in shares of Essex Property Trust in the 4th quarter worth about $55,000. Finally, Blue Trust Inc. raised its holdings in shares of Essex Property Trust by 645.2% in the 4th quarter. Blue Trust Inc. now owns 231 shares of the real estate investment trust’s stock worth $57,000 after acquiring an additional 200 shares during the last quarter. Institutional investors own 96.51% of the company’s stock.
Insiders Place Their Bets
In other news, Director Keith R. Guericke sold 10,000 shares of Essex Property Trust stock in a transaction on Friday, June 14th. The stock was sold at an average price of $274.57, for a total transaction of $2,745,700.00. Following the completion of the sale, the director now directly owns 16,118 shares in the company, valued at $4,425,519.26. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, Director Keith R. Guericke sold 10,000 shares of Essex Property Trust stock in a transaction on Friday, June 14th. The stock was sold at an average price of $274.57, for a total transaction of $2,745,700.00. Following the completion of the sale, the director now directly owns 16,118 shares in the company, valued at $4,425,519.26. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Angela L. Kleiman sold 3,780 shares of Essex Property Trust stock in a transaction dated Friday, June 21st. The shares were sold at an average price of $278.27, for a total value of $1,051,860.60. Following the completion of the sale, the chief executive officer now owns 9,494 shares of the company’s stock, valued at $2,641,895.38. The disclosure for this sale can be found here. 3.80% of the stock is owned by insiders.
Essex Property Trust Trading Down 1.1 %
ESS stock opened at $282.72 on Friday. The firm has a fifty day moving average price of $272.45 and a 200 day moving average price of $251.92. Essex Property Trust, Inc. has a fifty-two week low of $203.85 and a fifty-two week high of $292.37. The company has a debt-to-equity ratio of 1.14, a quick ratio of 3.19 and a current ratio of 3.19. The firm has a market cap of $18.15 billion, a PE ratio of 34.56, a price-to-earnings-growth ratio of 4.00 and a beta of 0.86.
Essex Property Trust Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 24th. Shareholders of record on Friday, June 28th were paid a dividend of $2.45 per share. This represents a $9.80 annualized dividend and a yield of 3.47%. The ex-dividend date of this dividend was Friday, June 28th. Essex Property Trust’s payout ratio is 119.80%.
Analysts Set New Price Targets
ESS has been the topic of a number of analyst reports. Bank of America upgraded shares of Essex Property Trust from a “neutral” rating to a “buy” rating and upped their target price for the stock from $250.00 to $275.00 in a report on Monday, April 1st. UBS Group upped their target price on shares of Essex Property Trust from $261.00 to $283.00 and gave the stock a “neutral” rating in a report on Thursday, July 18th. Wedbush upped their target price on shares of Essex Property Trust from $240.00 to $264.00 and gave the stock a “neutral” rating in a report on Monday, May 6th. Morgan Stanley increased their price objective on shares of Essex Property Trust from $230.00 to $250.00 and gave the company an “equal weight” rating in a research note on Tuesday, May 14th. Finally, Stifel Nicolaus increased their price objective on shares of Essex Property Trust from $243.50 to $267.00 and gave the company a “hold” rating in a research note on Tuesday, July 9th. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $262.15.
Essex Property Trust Company Profile
Essex Property Trust, Inc, an S&P 500 company, is a fully integrated real estate investment trust (REIT) that acquires, develops, redevelops, and manages multifamily residential properties in selected West Coast markets. Essex currently has ownership interests in 252 apartment communities comprising approximately 62,000 apartment homes with an additional property in active development.
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