Exxonmobil Investment Management Inc. TX Reduces Position in Essex Property Trust Inc (ESS)

Exxonmobil Investment Management Inc. TX lessened its position in shares of Essex Property Trust Inc (NYSE:ESS) by 12.9% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 10,500 shares of the real estate investment trust’s stock after selling 1,551 shares during the period. Exxonmobil Investment Management Inc. TX’s holdings in Essex Property Trust were worth $2,534,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Raymond James Financial Services Advisors Inc. grew its holdings in Essex Property Trust by 1.0% during the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 4,821 shares of the real estate investment trust’s stock worth $1,240,000 after acquiring an additional 49 shares in the last quarter. Lazard Asset Management LLC grew its holdings in Essex Property Trust by 0.8% during the 2nd quarter. Lazard Asset Management LLC now owns 11,436 shares of the real estate investment trust’s stock worth $2,942,000 after acquiring an additional 88 shares in the last quarter. Kemper Corp Master Retirement Trust grew its holdings in Essex Property Trust by 5.3% during the 2nd quarter. Kemper Corp Master Retirement Trust now owns 1,998 shares of the real estate investment trust’s stock worth $514,000 after acquiring an additional 100 shares in the last quarter. Advisor Group Inc. grew its holdings in Essex Property Trust by 14.2% during the 2nd quarter. Advisor Group Inc. now owns 1,021 shares of the real estate investment trust’s stock worth $262,000 after acquiring an additional 127 shares in the last quarter. Finally, Phocas Financial Corp. grew its holdings in Essex Property Trust by 3.4% during the 2nd quarter. Phocas Financial Corp. now owns 4,252 shares of the real estate investment trust’s stock worth $1,094,000 after acquiring an additional 138 shares in the last quarter. Institutional investors own 97.14% of the company’s stock.

In other news, insider Craig K. Zimmerman sold 167 shares of the company’s stock in a transaction on Friday, November 10th. The shares were sold at an average price of $255.50, for a total value of $42,668.50. Following the completion of the transaction, the insider now owns 10,450 shares in the company, valued at approximately $2,669,975. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Angela L. Kleiman sold 600 shares of the company’s stock in a transaction on Monday, December 11th. The shares were sold at an average price of $247.16, for a total transaction of $148,296.00. Following the completion of the transaction, the chief financial officer now owns 7,777 shares of the company’s stock, valued at approximately $1,922,163.32. The disclosure for this sale can be found here. In the last 90 days, insiders sold 9,687 shares of company stock valued at $2,408,772. Company insiders own 3.30% of the company’s stock.

Several research analysts have commented on ESS shares. Raymond James Financial reiterated an “underperform” rating on shares of Essex Property Trust in a report on Monday, January 8th. BMO Capital Markets reiterated a “hold” rating and set a $257.00 price target on shares of Essex Property Trust in a report on Monday, November 27th. Mitsubishi UFJ Financial Group reiterated a “neutral” rating on shares of Essex Property Trust in a report on Friday, November 3rd. Zacks Investment Research upgraded shares of Essex Property Trust from a “hold” rating to a “buy” rating and set a $289.00 price target for the company in a report on Tuesday, October 10th. Finally, JMP Securities reiterated a “hold” rating on shares of Essex Property Trust in a report on Wednesday, December 27th. Three analysts have rated the stock with a sell rating, seven have given a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $269.41.

Essex Property Trust Inc (ESS) opened at $227.10 on Friday. Essex Property Trust Inc has a twelve month low of $218.41 and a twelve month high of $270.04. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.83 and a quick ratio of 0.83. The stock has a market cap of $14,990.00, a price-to-earnings ratio of 28.46, a PEG ratio of 3.00 and a beta of 0.50.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 16th. Stockholders of record on Friday, December 29th will be issued a $1.75 dividend. This represents a $7.00 annualized dividend and a dividend yield of 3.08%. The ex-dividend date of this dividend is Thursday, December 28th. Essex Property Trust’s payout ratio is 87.72%.

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About Essex Property Trust

Essex Property Trust, Inc is a self-administered and self-managed real estate investment trust. The Company is engaged primarily in the ownership, operation, management, acquisition, development and redevelopment of predominantly apartment communities, located along the West Coast. Its segments include Southern California, Northern California, Seattle Metro and Other real estate assets.

Institutional Ownership by Quarter for Essex Property Trust (NYSE:ESS)

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