Standard Life Aberdeen plc Has $44.67 Million Position in Essex Property Trust Inc (NYSE:ESS)

Standard Life Aberdeen plc cut its holdings in Essex Property Trust Inc (NYSE:ESS) by 5.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 148,456 shares of the real estate investment trust’s stock after selling 9,211 shares during the period. Standard Life Aberdeen plc owned approximately 0.22% of Essex Property Trust worth $44,665,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also bought and sold shares of ESS. Dean Capital Management lifted its holdings in Essex Property Trust by 1.3% during the fourth quarter. Dean Capital Management now owns 2,668 shares of the real estate investment trust’s stock worth $803,000 after acquiring an additional 34 shares during the period. Mercer Global Advisors Inc. ADV increased its position in shares of Essex Property Trust by 2.5% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 1,541 shares of the real estate investment trust’s stock valued at $464,000 after purchasing an additional 38 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its stake in shares of Essex Property Trust by 1.0% during the 4th quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 4,255 shares of the real estate investment trust’s stock worth $1,280,000 after purchasing an additional 43 shares during the period. Savant Capital LLC raised its stake in shares of Essex Property Trust by 5.1% during the 4th quarter. Savant Capital LLC now owns 930 shares of the real estate investment trust’s stock worth $280,000 after purchasing an additional 45 shares during the period. Finally, Cetera Advisors LLC raised its stake in shares of Essex Property Trust by 1.9% during the 4th quarter. Cetera Advisors LLC now owns 2,470 shares of the real estate investment trust’s stock worth $741,000 after purchasing an additional 45 shares during the period. 97.12% of the stock is owned by hedge funds and other institutional investors.

NYSE ESS traded up $17.93 during trading on Thursday, hitting $218.70. 653,394 shares of the company’s stock traded hands, compared to its average volume of 574,267. The company has a debt-to-equity ratio of 0.91, a quick ratio of 1.36 and a current ratio of 1.36. The stock has a market capitalization of $12.44 billion, a price-to-earnings ratio of 32.79, a PEG ratio of 2.75 and a beta of 0.43. Essex Property Trust Inc has a 12-month low of $175.81 and a 12-month high of $334.17. The business has a 50 day moving average of $287.28 and a 200-day moving average of $308.00.

Essex Property Trust (NYSE:ESS) last announced its quarterly earnings results on Wednesday, January 29th. The real estate investment trust reported $1.95 EPS for the quarter, missing the Zacks’ consensus estimate of $3.42 by ($1.47). Essex Property Trust had a net margin of 30.08% and a return on equity of 6.90%. The business had revenue of $375.37 million for the quarter, compared to analysts’ expectations of $373.65 million. During the same quarter in the previous year, the company posted $3.19 earnings per share. On average, analysts expect that Essex Property Trust Inc will post 13.98 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st will be issued a $2.0775 dividend. This is a positive change from Essex Property Trust’s previous quarterly dividend of $1.95. This represents a $8.31 dividend on an annualized basis and a dividend yield of 3.80%. The ex-dividend date is Monday, March 30th. Essex Property Trust’s dividend payout ratio (DPR) is presently 58.30%.

In other news, COO John F. Burkart sold 4,400 shares of the stock in a transaction dated Wednesday, January 22nd. The shares were sold at an average price of $312.89, for a total value of $1,376,716.00. Following the sale, the chief operating officer now directly owns 8,313 shares of the company’s stock, valued at $2,601,054.57. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO John Farias sold 822 shares of the firm’s stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $316.25, for a total transaction of $259,957.50. Following the completion of the transaction, the chief accounting officer now owns 1,533 shares of the company’s stock, valued at $484,811.25. The disclosure for this sale can be found here. Over the last quarter, insiders sold 25,284 shares of company stock valued at $8,021,837. 3.60% of the stock is owned by company insiders.

Several research firms recently weighed in on ESS. BMO Capital Markets downgraded shares of Essex Property Trust from a “market perform” rating to an “underperform” rating and decreased their price objective for the stock from $320.00 to $295.00 in a report on Tuesday, January 28th. SunTrust Banks lifted their price objective on shares of Essex Property Trust from $315.00 to $330.00 and gave the stock a “hold” rating in a research report on Friday, February 21st. Royal Bank of Canada cut shares of Essex Property Trust from an “outperform” rating to a “sector perform” rating and dropped their target price for the company from $320.00 to $315.00 in a research note on Wednesday, December 18th. Finally, Zelman & Associates raised shares of Essex Property Trust from a “sell” rating to a “hold” rating in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and seven have issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $331.64.

About Essex Property Trust

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 245 apartment communities with an additional 6 properties in various stages of active development.

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

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