Mutual of America Capital Management LLC lowered its holdings in shares of Essex Property Trust, Inc. (NYSE:ESS – Free Report) by 2.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,418 shares of the real estate investment trust’s stock after selling 172 shares during the period. Mutual of America Capital Management LLC’s holdings in Essex Property Trust were worth $2,061,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Norges Bank acquired a new stake in shares of Essex Property Trust during the 4th quarter valued at about $675,183,000. Cohen & Steers Inc. grew its stake in shares of Essex Property Trust by 31.2% in the 4th quarter. Cohen & Steers Inc. now owns 3,072,004 shares of the real estate investment trust’s stock valued at $761,760,000 after purchasing an additional 730,141 shares during the period. Daiwa Securities Group Inc. raised its holdings in shares of Essex Property Trust by 86.5% in the 1st quarter. Daiwa Securities Group Inc. now owns 997,792 shares of the real estate investment trust’s stock worth $244,269,000 after buying an additional 462,828 shares in the last quarter. Russell Investments Group Ltd. lifted its position in shares of Essex Property Trust by 119.3% during the 4th quarter. Russell Investments Group Ltd. now owns 412,721 shares of the real estate investment trust’s stock worth $102,602,000 after buying an additional 224,554 shares during the period. Finally, Wellington Management Group LLP boosted its stake in Essex Property Trust by 5,069.7% in the 3rd quarter. Wellington Management Group LLP now owns 208,651 shares of the real estate investment trust’s stock valued at $44,253,000 after buying an additional 204,615 shares in the last quarter. Institutional investors own 96.51% of the company’s stock.
Essex Property Trust Trading Down 1.5 %
Shares of NYSE ESS opened at $274.33 on Friday. Essex Property Trust, Inc. has a fifty-two week low of $203.85 and a fifty-two week high of $284.77. The firm has a market capitalization of $17.61 billion, a P/E ratio of 33.54, a P/E/G ratio of 3.89 and a beta of 0.86. The company has a debt-to-equity ratio of 1.14, a current ratio of 3.19 and a quick ratio of 3.19. The company’s 50 day simple moving average is $268.17 and its 200 day simple moving average is $249.62.
Essex Property Trust Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 24th. Stockholders of record on Friday, June 28th will be paid a $2.45 dividend. This represents a $9.80 dividend on an annualized basis and a dividend yield of 3.57%. The ex-dividend date is Friday, June 28th. Essex Property Trust’s dividend payout ratio (DPR) is currently 119.80%.
Insider Transactions at Essex Property Trust
In related news, CEO Angela L. Kleiman sold 3,780 shares of the company’s stock in a transaction dated Friday, June 21st. The stock was sold at an average price of $278.27, for a total value of $1,051,860.60. Following the completion of the sale, the chief executive officer now owns 9,494 shares in the company, valued at $2,641,895.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Angela L. Kleiman sold 3,780 shares of the business’s stock in a transaction dated Friday, June 21st. The stock was sold at an average price of $278.27, for a total transaction of $1,051,860.60. Following the completion of the transaction, the chief executive officer now directly owns 9,494 shares in the company, valued at approximately $2,641,895.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Keith R. Guericke sold 10,000 shares of the stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $274.57, for a total transaction of $2,745,700.00. Following the completion of the sale, the director now owns 16,118 shares in the company, valued at $4,425,519.26. The disclosure for this sale can be found here. 3.80% of the stock is owned by corporate insiders.
Wall Street Analysts Forecast Growth
Several research firms have issued reports on ESS. Wells Fargo & Company increased their price objective on Essex Property Trust from $232.00 to $269.00 and gave the stock an “equal weight” rating in a research note on Friday, May 31st. Evercore ISI lifted their price target on shares of Essex Property Trust from $254.00 to $260.00 and gave the company an “in-line” rating in a report on Tuesday, July 9th. Raymond James raised shares of Essex Property Trust from a “market perform” rating to an “outperform” rating and set a $265.00 price objective on the stock in a research note on Monday, March 18th. StockNews.com upgraded shares of Essex Property Trust from a “sell” rating to a “hold” rating in a research note on Wednesday, May 1st. Finally, Morgan Stanley increased their price target on Essex Property Trust from $230.00 to $250.00 and gave the stock an “equal weight” rating in a research report on Tuesday, May 14th. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $261.05.
Check Out Our Latest Analysis on Essex Property Trust
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 252 apartment communities comprising approximately 62,000 apartment homes with an additional property in active development.
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