Dimensional Fund Advisors LP decreased its stake in shares of Essex Property Trust Inc (NYSE:ESS) by 0.4% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 998,022 shares of the real estate investment trust’s stock after selling 4,509 shares during the quarter. Dimensional Fund Advisors LP’s holdings in Essex Property Trust were worth $244,727,000 as of its most recent filing with the SEC.
Other large investors also recently bought and sold shares of the company. Ironwood Financial llc bought a new position in shares of Essex Property Trust during the 4th quarter worth about $25,000. Acadian Asset Management LLC acquired a new stake in shares of Essex Property Trust during the 4th quarter valued at about $87,000. Loeb Partners Corp acquired a new stake in shares of Essex Property Trust during the 4th quarter valued at about $123,000. Comerica Securities Inc. acquired a new stake in shares of Essex Property Trust during the 4th quarter valued at about $207,000. Finally, Pennsylvania Trust Co acquired a new stake in shares of Essex Property Trust during the 4th quarter valued at about $240,000. Institutional investors own 97.10% of the company’s stock.
In other Essex Property Trust news, insider John D. Eudy sold 3,000 shares of the business’s stock in a transaction dated Tuesday, March 26th. The shares were sold at an average price of $291.56, for a total value of $874,680.00. Following the transaction, the insider now directly owns 10,642 shares in the company, valued at $3,102,781.52. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, EVP John F. Burkart sold 1,413 shares of the business’s stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $290.22, for a total transaction of $410,080.86. Following the completion of the transaction, the executive vice president now owns 5,332 shares in the company, valued at $1,547,453.04. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 17,184 shares of company stock worth $4,904,753. Company insiders own 3.60% of the company’s stock.
Several brokerages have recently weighed in on ESS. BTIG Research lowered shares of Essex Property Trust from a “buy” rating to a “neutral” rating in a research report on Monday, March 25th. BMO Capital Markets reiterated a “hold” rating and set a $260.00 target price on shares of Essex Property Trust in a research report on Wednesday, January 30th. Barclays reiterated a “buy” rating and set a $310.00 target price on shares of Essex Property Trust in a research report on Tuesday, April 16th. KeyCorp lifted their target price on shares of Essex Property Trust from $268.00 to $301.00 and gave the company an “overweight” rating in a research report on Tuesday, March 19th. Finally, Citigroup set a $275.00 target price on shares of Essex Property Trust and gave the company a “hold” rating in a research report on Tuesday, February 5th. Ten analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Essex Property Trust presently has an average rating of “Buy” and a consensus target price of $279.57.
NYSE:ESS opened at $278.48 on Thursday. The stock has a market capitalization of $18.68 billion, a price-to-earnings ratio of 22.15, a PEG ratio of 3.83 and a beta of 0.45. Essex Property Trust Inc has a 12 month low of $226.22 and a 12 month high of $294.61. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.91.
Essex Property Trust (NYSE:ESS) last released its quarterly earnings results on Wednesday, April 24th. The real estate investment trust reported $3.23 EPS for the quarter, beating the Zacks’ consensus estimate of $3.19 by $0.04. The firm had revenue of $356.22 million for the quarter, compared to analyst estimates of $353.55 million. Essex Property Trust had a net margin of 29.67% and a return on equity of 6.50%. During the same period in the previous year, the business earned $3.09 earnings per share. Research analysts predict that Essex Property Trust Inc will post 13.1 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, April 12th. Shareholders of record on Friday, March 29th were given a $1.95 dividend. The ex-dividend date was Thursday, March 28th. This is a positive change from Essex Property Trust’s previous quarterly dividend of $1.86. This represents a $7.80 dividend on an annualized basis and a yield of 2.80%. Essex Property Trust’s payout ratio is 62.05%.
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. Essex currently has ownership interests in 245 apartment communities with an additional 6 properties in various stages of active development.
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