Essex Property Trust Inc (ESS) Shares Bought by Fmr LLC

FMR LLC grew its stake in shares of Essex Property Trust Inc (NYSE:ESS) by 10.5% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 1,882,752 shares of the real estate investment trust’s stock after acquiring an additional 178,866 shares during the period. FMR LLC owned about 2.85% of Essex Property Trust worth $461,670,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Ironwood Financial llc acquired a new stake in shares of Essex Property Trust during the fourth quarter worth approximately $25,000. Bronfman E.L. Rothschild L.P. increased its holdings in shares of Essex Property Trust by 21.7% during the fourth quarter. Bronfman E.L. Rothschild L.P. now owns 258 shares of the real estate investment trust’s stock worth $63,000 after buying an additional 46 shares in the last quarter. Acadian Asset Management LLC acquired a new stake in shares of Essex Property Trust during the fourth quarter worth approximately $87,000. Capital Guardian Trust Co. acquired a new stake in shares of Essex Property Trust during the third quarter worth approximately $113,000. Finally, Loeb Partners Corp acquired a new stake in shares of Essex Property Trust during the fourth quarter worth approximately $123,000. 97.03% of the stock is currently owned by institutional investors.

Shares of NYSE ESS traded up $1.76 during midday trading on Wednesday, reaching $278.66. 341,743 shares of the stock were exchanged, compared to its average volume of 300,536. The stock has a market cap of $18.28 billion, a price-to-earnings ratio of 22.17, a P/E/G ratio of 3.69 and a beta of 0.48. Essex Property Trust Inc has a 12 month low of $226.22 and a 12 month high of $294.61. The company has a quick ratio of 1.76, a current ratio of 1.76 and a debt-to-equity ratio of 0.88.

Essex Property Trust (NYSE:ESS) last issued its quarterly earnings data on Wednesday, January 30th. The real estate investment trust reported $3.19 EPS for the quarter, hitting analysts’ consensus estimates of $3.19. Essex Property Trust had a net margin of 27.87% and a return on equity of 5.74%. The business had revenue of $353.16 million for the quarter, compared to analyst estimates of $351.76 million. During the same period last year, the business posted $3.01 earnings per share. On average, research analysts anticipate that Essex Property Trust Inc will post 13.07 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 12th. Investors of record on Friday, March 29th were issued a dividend of $1.95 per share. This represents a $7.80 dividend on an annualized basis and a dividend yield of 2.80%. This is a positive change from Essex Property Trust’s previous quarterly dividend of $1.86. The ex-dividend date of this dividend was Thursday, March 28th. Essex Property Trust’s dividend payout ratio (DPR) is presently 62.05%.

In other Essex Property Trust news, insider John D. Eudy sold 3,000 shares of Essex Property Trust stock in a transaction on Tuesday, March 26th. The shares were sold at an average price of $291.56, for a total value of $874,680.00. Following the sale, the insider now directly owns 10,642 shares in the company, valued at approximately $3,102,781.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Angela L. Kleiman sold 1,177 shares of Essex Property Trust stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $289.72, for a total transaction of $341,000.44. Following the completion of the sale, the chief financial officer now owns 6,916 shares in the company, valued at $2,003,703.52. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 17,184 shares of company stock worth $4,904,753. 3.60% of the stock is currently owned by company insiders.

Several research firms have recently weighed in on ESS. Barclays reaffirmed a “buy” rating and set a $310.00 price objective on shares of Essex Property Trust in a report on Tuesday, April 16th. BMO Capital Markets reissued a “hold” rating and issued a $295.00 price target on shares of Essex Property Trust in a report on Monday, March 25th. BTIG Research lowered shares of Essex Property Trust from a “buy” rating to a “neutral” rating in a report on Monday, March 25th. KeyCorp raised their price target on shares of Essex Property Trust from $268.00 to $301.00 and gave the company an “overweight” rating in a report on Tuesday, March 19th. Finally, Jefferies Financial Group cut shares of Essex Property Trust from a “buy” rating to a “hold” rating and raised their price objective for the company from $290.00 to $295.00 in a research note on Thursday, February 7th. They noted that the move was a valuation call. Ten analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $279.57.

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

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