Essex Property Trust, Inc. (NYSE:ESS) Shares Sold by Pensionfund Sabic

Pensionfund Sabic reduced its holdings in Essex Property Trust, Inc. (NYSE:ESS) by 7.8% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,100 shares of the real estate investment trust’s stock after selling 600 shares during the quarter. Pensionfund Sabic’s holdings in Essex Property Trust were worth $1,930,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Principal Financial Group Inc. increased its position in shares of Essex Property Trust by 28.9% during the 4th quarter. Principal Financial Group Inc. now owns 3,220,194 shares of the real estate investment trust’s stock valued at $764,538,000 after purchasing an additional 721,110 shares during the period. Norges Bank bought a new stake in shares of Essex Property Trust during the 4th quarter worth $485,997,000. Dimensional Fund Advisors LP boosted its stake in shares of Essex Property Trust by 1.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,073,166 shares of the real estate investment trust’s stock worth $254,793,000 after acquiring an additional 12,119 shares in the last quarter. UBS Asset Management Americas Inc. boosted its stake in shares of Essex Property Trust by 3.5% during the 4th quarter. UBS Asset Management Americas Inc. now owns 590,962 shares of the real estate investment trust’s stock worth $140,306,000 after acquiring an additional 19,709 shares in the last quarter. Finally, Resolution Capital Ltd bought a new stake in shares of Essex Property Trust during the 4th quarter worth $137,715,000. Hedge funds and other institutional investors own 95.40% of the company’s stock.

Essex Property Trust stock opened at $282.83 on Thursday. The company has a debt-to-equity ratio of 1.05, a quick ratio of 3.14 and a current ratio of 3.14. The business’s 50-day simple moving average is $272.98 and its 200-day simple moving average is $243.18. The firm has a market capitalization of $18.38 billion, a PE ratio of 30.98, a PEG ratio of 7.69 and a beta of 0.79. Essex Property Trust, Inc. has a 52 week low of $186.30 and a 52 week high of $294.79.

Essex Property Trust (NYSE:ESS) last posted its quarterly earnings data on Thursday, February 4th. The real estate investment trust reported $1.47 EPS for the quarter, missing analysts’ consensus estimates of $3.12 by ($1.65). Essex Property Trust had a return on equity of 9.46% and a net margin of 39.89%. During the same period in the prior year, the business earned $1.95 earnings per share. Research analysts forecast that Essex Property Trust, Inc. will post 12.91 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 15th. Stockholders of record on Wednesday, March 31st will be paid a $2.09 dividend. The ex-dividend date of this dividend is Tuesday, March 30th. This is a positive change from Essex Property Trust’s previous quarterly dividend of $2.08. This represents a $8.36 dividend on an annualized basis and a dividend yield of 2.96%. Essex Property Trust’s payout ratio is presently 62.48%.

Several equities research analysts have recently weighed in on the company. BMO Capital Markets raised Essex Property Trust from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from $275.00 to $310.00 in a research note on Monday. Raymond James reaffirmed a “sell” rating on shares of Essex Property Trust in a research report on Tuesday, February 23rd. Smith Barney Citigroup raised their target price on Essex Property Trust from $235.00 to $250.00 in a research report on Tuesday, December 15th. Royal Bank of Canada assumed coverage on Essex Property Trust in a research report on Tuesday, March 30th. They issued an “outperform” rating and a $303.00 target price for the company. Finally, Evercore ISI raised Essex Property Trust from an “in-line” rating to an “outperform” rating in a research report on Wednesday, January 20th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and nine have issued a buy rating to the company. Essex Property Trust presently has an average rating of “Buy” and an average target price of $268.75.

Essex Property Trust 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. Essex currently has ownership interests in 246 apartment communities comprising approximately 60,000 apartment homes 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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