Alps Advisors Inc. Lowers Holdings in Essex Property Trust Inc (ESS)

Alps Advisors Inc. reduced its holdings in shares of Essex Property Trust Inc (NYSE:ESS) by 3.6% during the 4th quarter, Holdings Channel reports. The firm owned 3,897 shares of the real estate investment trust’s stock after selling 146 shares during the period. Alps Advisors Inc.’s holdings in Essex Property Trust were worth $956,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the business. Moody National Bank Trust Division grew its position in Essex Property Trust by 1.1% during the 4th quarter. Moody National Bank Trust Division now owns 5,324 shares of the real estate investment trust’s stock worth $1,306,000 after purchasing an additional 56 shares during the last quarter. GWM Advisors LLC grew its position in Essex Property Trust by 4.2% during the 4th quarter. GWM Advisors LLC now owns 1,793 shares of the real estate investment trust’s stock worth $440,000 after purchasing an additional 72 shares during the last quarter. Gateway Investment Advisers LLC grew its position in Essex Property Trust by 2.2% during the 4th quarter. Gateway Investment Advisers LLC now owns 4,382 shares of the real estate investment trust’s stock worth $1,075,000 after purchasing an additional 94 shares during the last quarter. Ironwood Financial llc purchased a new position in Essex Property Trust during the 4th quarter worth $25,000. Finally, Sumitomo Mitsui Asset Management Company LTD grew its position in Essex Property Trust by 1.6% during the 4th quarter. Sumitomo Mitsui Asset Management Company LTD now owns 9,206 shares of the real estate investment trust’s stock worth $2,257,000 after purchasing an additional 142 shares during the last quarter. 98.89% of the stock is currently owned by institutional investors.

Shares of NYSE ESS opened at $278.66 on Tuesday. The company has a quick ratio of 1.31, a current ratio of 1.31 and a debt-to-equity ratio of 0.88. Essex Property Trust Inc has a 52 week low of $219.62 and a 52 week high of $280.11. The stock has a market capitalization of $18.37 billion, a P/E ratio of 22.17, a P/E/G ratio of 3.74 and a beta of 0.49.

Essex Property Trust (NYSE:ESS) last announced its quarterly earnings data on Wednesday, January 30th. The real estate investment trust reported $3.19 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $3.19. Essex Property Trust had a net margin of 27.87% and a return on equity of 5.74%. The firm had revenue of $353.16 million during the quarter, compared to analysts’ expectations of $351.76 million. During the same quarter last year, the business earned $3.01 earnings per share. As a group, research analysts anticipate that Essex Property Trust Inc will post 13.07 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 15th. Investors of record on Wednesday, January 2nd were paid a $1.86 dividend. This represents a $7.44 annualized dividend and a dividend yield of 2.67%. The ex-dividend date of this dividend was Monday, December 31st. Essex Property Trust’s dividend payout ratio (DPR) is 59.19%.

Several analysts have recently weighed in on the stock. Barclays lifted their target price on shares of Essex Property Trust from $258.00 to $262.00 and gave the company an “overweight” rating in a report on Thursday, November 15th. Capital One Financial reaffirmed an “equal weight” rating on shares of Essex Property Trust in a report on Sunday, October 21st. ValuEngine raised shares of Essex Property Trust from a “hold” rating to a “buy” rating in a report on Wednesday, November 21st. Morgan Stanley lifted their target price on shares of Essex Property Trust from $260.00 to $292.00 and gave the company an “overweight” rating in a report on Monday, December 17th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and issued a $275.00 target price on shares of Essex Property Trust in a report on Wednesday, October 31st. Eleven equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $269.64.

In other Essex Property Trust news, CEO Michael J. Schall sold 331 shares of Essex Property Trust stock in a transaction dated Monday, December 10th. The shares were sold at an average price of $263.91, for a total transaction of $87,354.21. Following the completion of the transaction, the chief executive officer now owns 46,495 shares in the company, valued at $12,270,495.45. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider John D. Eudy sold 166 shares of Essex Property Trust stock in a transaction dated Monday, December 10th. The stock was sold at an average price of $263.91, for a total transaction of $43,809.06. Following the transaction, the insider now owns 10,621 shares of the company’s stock, valued at approximately $2,802,988.11. The disclosure for this sale can be found here. Insiders sold 8,236 shares of company stock valued at $2,167,568 in the last quarter. Company insiders own 3.40% of the company’s stock.

TRADEMARK VIOLATION NOTICE: “Alps Advisors Inc. Lowers Holdings in Essex Property Trust Inc (ESS)” was reported by The Lincolnian Online and is the sole property of of The Lincolnian Online. If you are accessing this news story on another domain, it was illegally stolen and reposted in violation of U.S. & international copyright & trademark laws. The original version of this news story can be accessed at https://www.thelincolnianonline.com/2019/02/12/alps-advisors-inc-lowers-holdings-in-essex-property-trust-inc-ess.html.

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. The Company currently has ownership interests in 248 apartment communities comprising approximately 60,000 apartment homes, excluding six properties in various stages of active development, one commercial building, preferred equity co-investments, and loan investments.

Read More: Cash Flow Analysis in Stock Selection

Want to see what other hedge funds are holding ESS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Essex Property Trust Inc (NYSE:ESS).

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

Receive News & Ratings for Essex Property Trust Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Essex Property Trust and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply