Gulf International Bank UK Ltd Sells 461 Shares of Essex Property Trust, Inc. (NYSE:ESS)

Gulf International Bank UK Ltd reduced its position in shares of Essex Property Trust, Inc. (NYSE:ESS) by 3.3% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 13,507 shares of the real estate investment trust’s stock after selling 461 shares during the quarter. Gulf International Bank UK Ltd’s holdings in Essex Property Trust were worth $4,318,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. MML Investors Services LLC grew its position in Essex Property Trust by 3.3% during the 2nd quarter. MML Investors Services LLC now owns 1,019 shares of the real estate investment trust’s stock worth $306,000 after acquiring an additional 33 shares during the last quarter. WINTON GROUP Ltd lifted its stake in shares of Essex Property Trust by 3.1% in the 2nd quarter. WINTON GROUP Ltd now owns 1,127 shares of the real estate investment trust’s stock valued at $338,000 after purchasing an additional 34 shares during the period. Cambridge Investment Research Advisors Inc. raised its stake in Essex Property Trust by 1.9% during the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 1,839 shares of the real estate investment trust’s stock worth $552,000 after buying an additional 34 shares during the period. B. Metzler seel. Sohn & Co. Holding AG increased its holdings in Essex Property Trust by 4.9% during the 2nd quarter. B. Metzler seel. Sohn & Co. Holding AG now owns 896 shares of the real estate investment trust’s stock worth $269,000 after purchasing an additional 42 shares in the last quarter. Finally, Intersect Capital LLC grew its holdings in shares of Essex Property Trust by 4.8% in the third quarter. Intersect Capital LLC now owns 956 shares of the real estate investment trust’s stock valued at $306,000 after acquiring an additional 44 shares in the last quarter. 92.45% of the stock is owned by institutional investors and hedge funds.

NYSE:ESS opened at $343.96 on Friday. Essex Property Trust, Inc. has a 12 month low of $235.19 and a 12 month high of $359.49. The company has a 50 day simple moving average of $346.08 and a two-hundred day simple moving average of $332.76. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.99. The company has a market cap of $22.39 billion, a PE ratio of 49.99, a price-to-earnings-growth ratio of 6.09 and a beta of 0.73.

Essex Property Trust (NYSE:ESS) last announced its quarterly earnings results on Tuesday, October 26th. The real estate investment trust reported $1.82 EPS for the quarter, missing the consensus estimate of $3.10 by ($1.28). The company had revenue of $360.62 million during the quarter, compared to analysts’ expectations of $357.54 million. Essex Property Trust had a return on equity of 7.08% and a net margin of 31.27%. The firm’s revenue for the quarter was down 2.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.15 EPS. Research analysts forecast that Essex Property Trust, Inc. will post 12.48 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Friday, January 14th. Shareholders of record on Monday, January 3rd were paid a $2.09 dividend. The ex-dividend date of this dividend was Friday, December 31st. This represents a $8.36 dividend on an annualized basis and a yield of 2.43%. Essex Property Trust’s dividend payout ratio is currently 121.51%.

In other Essex Property Trust news, Director Irving F. Lyons III sold 2,412 shares of the business’s stock in a transaction that occurred on Wednesday, November 24th. The shares were sold at an average price of $354.33, for a total transaction of $854,643.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO John Farias sold 5,040 shares of the company’s stock in a transaction on Wednesday, October 27th. The shares were sold at an average price of $340.61, for a total transaction of $1,716,674.40. The disclosure for this sale can be found here. Insiders sold a total of 78,157 shares of company stock worth $26,885,395 over the last 90 days. Insiders own 3.80% of the company’s stock.

Several equities analysts have weighed in on ESS shares. JPMorgan Chase & Co. raised Essex Property Trust from a “neutral” rating to an “overweight” rating and set a $359.00 price objective for the company in a report on Thursday, October 7th. Truist Securities increased their target price on Essex Property Trust from $337.00 to $366.00 and gave the stock a “buy” rating in a research report on Monday, December 6th. JMP Securities restated a “hold” rating on shares of Essex Property Trust in a research report on Tuesday, December 7th. The Goldman Sachs Group started coverage on Essex Property Trust in a research report on Thursday, September 23rd. They issued a “sell” rating and a $325.00 price objective on the stock. Finally, KeyCorp increased their price objective on Essex Property Trust from $363.00 to $371.00 and gave the stock an “overweight” rating in a research report on Thursday. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $353.61.

Essex Property Trust Company Profile

Essex Property Trust, Inc operates as a real estate investment trust. It engages in the ownership, operation, management, acquisition, development, and redevelopment of predominantly apartment communities. The company was founded by George M. Marcus in 1971 and is headquartered in San Mateo, CA.

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

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