Security Capital Research & Management Inc. Reduces Position in Essex Property Trust Inc (NYSE:ESS)

Security Capital Research & Management Inc. trimmed its position in Essex Property Trust Inc (NYSE:ESS) by 13.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 171,911 shares of the real estate investment trust’s stock after selling 25,918 shares during the period. Essex Property Trust accounts for 1.3% of Security Capital Research & Management Inc.’s investment portfolio, making the stock its 27th biggest position. Security Capital Research & Management Inc. owned about 0.26% of Essex Property Trust worth $41,494,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in ESS. Janus Henderson Group PLC raised its position in shares of Essex Property Trust by 292.6% during the 3rd quarter. Janus Henderson Group PLC now owns 469,858 shares of the real estate investment trust’s stock valued at $119,358,000 after buying an additional 350,192 shares in the last quarter. Koch Industries Inc. purchased a new stake in shares of Essex Property Trust during the 2nd quarter valued at $301,000. Barings LLC purchased a new stake in shares of Essex Property Trust during the 3rd quarter valued at $63,549,000. Canada Pension Plan Investment Board raised its position in shares of Essex Property Trust by 7,265.5% during the 3rd quarter. Canada Pension Plan Investment Board now owns 184,505 shares of the real estate investment trust’s stock valued at $46,870,000 after buying an additional 182,000 shares in the last quarter. Finally, Principal Financial Group Inc. raised its position in shares of Essex Property Trust by 3.6% during the 3rd quarter. Principal Financial Group Inc. now owns 2,328,165 shares of the real estate investment trust’s stock valued at $591,424,000 after buying an additional 80,573 shares in the last quarter. 96.57% of the stock is owned by hedge funds and other institutional investors.

ESS has been the topic of several research reports. SunTrust Banks restated a “hold” rating and set a $270.00 price objective on shares of Essex Property Trust in a research report on Friday, November 3rd. Mizuho cut shares of Essex Property Trust from a “neutral” rating to an “underperform” rating and set a $250.00 price objective on the stock. in a research report on Monday, November 6th. Mitsubishi UFJ Financial Group reiterated a “neutral” rating on shares of Essex Property Trust in a research report on Friday, November 3rd. Cantor Fitzgerald reiterated a “buy” rating and issued a $279.00 target price on shares of Essex Property Trust in a research report on Wednesday, November 8th. Finally, Royal Bank of Canada reiterated a “buy” rating on shares of Essex Property Trust in a research report on Sunday, November 12th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. Essex Property Trust currently has an average rating of “Buy” and a consensus price target of $263.42.

Shares of Essex Property Trust Inc (NYSE ESS) traded up $4.64 during trading on Friday, reaching $226.23. 275,680 shares of the company’s stock were exchanged, compared to its average volume of 464,810. The company has a market cap of $14,541.79, a price-to-earnings ratio of 34.38, a PEG ratio of 2.99 and a beta of 0.42. Essex Property Trust Inc has a 1-year low of $214.03 and a 1-year high of $270.04. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.83 and a current ratio of 0.83.

Essex Property Trust (NYSE:ESS) last announced its quarterly earnings results on Wednesday, February 7th. The real estate investment trust reported $3.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.00 by $0.01. The business had revenue of $345.06 million for the quarter, compared to analyst estimates of $346.50 million. Essex Property Trust had a net margin of 31.75% and a return on equity of 6.76%. During the same quarter last year, the firm earned $2.85 EPS. sell-side analysts expect that Essex Property Trust Inc will post 12.45 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Monday, April 16th. Shareholders of record on Thursday, March 29th will be issued a $1.86 dividend. This represents a $7.44 dividend on an annualized basis and a yield of 3.29%. The ex-dividend date is Wednesday, March 28th. This is a positive change from Essex Property Trust’s previous quarterly dividend of $1.75. Essex Property Trust’s dividend payout ratio (DPR) is 106.38%.

In other news, Director Gary P. Martin sold 500 shares of Essex Property Trust stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $223.43, for a total transaction of $111,715.00. Following the sale, the director now owns 5,736 shares of the company’s stock, valued at approximately $1,281,594.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Angela L. Kleiman sold 600 shares of Essex Property Trust stock in a transaction dated Monday, December 11th. The shares were sold at an average price of $247.16, for a total transaction of $148,296.00. Following the sale, the chief financial officer now directly owns 7,777 shares in the company, valued at approximately $1,922,163.32. The disclosure for this sale can be found here. In the last three months, insiders sold 8,602 shares of company stock worth $2,115,430. Insiders own 3.30% of the company’s stock.

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Essex Property Trust Company Profile

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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