Essex Property Trust, Inc. (ESS) Shares Bought by Cleararc Capital Inc.

Cleararc Capital Inc. boosted its stake in Essex Property Trust, Inc. (NYSE:ESS) by 0.9% during the fourth quarter, Holdings Channel reports. The fund owned 1,608 shares of the real estate investment trust’s stock after buying an additional 15 shares during the period. Cleararc Capital Inc.’s holdings in Essex Property Trust were worth $374,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of ESS. Cohen & Steers Inc. raised its stake in Essex Property Trust by 10.9% in the second quarter. Cohen & Steers Inc. now owns 5,562,780 shares of the real estate investment trust’s stock valued at $1,268,814,000 after buying an additional 547,566 shares in the last quarter. BlackRock Institutional Trust Company N.A. raised its stake in Essex Property Trust by 1.3% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 2,720,897 shares of the real estate investment trust’s stock valued at $620,609,000 after buying an additional 35,747 shares in the last quarter. BlackRock Fund Advisors raised its stake in Essex Property Trust by 3.1% in the third quarter. BlackRock Fund Advisors now owns 2,337,868 shares of the real estate investment trust’s stock valued at $520,643,000 after buying an additional 69,659 shares in the last quarter. Principal Financial Group Inc. raised its stake in Essex Property Trust by 6.2% in the third quarter. Principal Financial Group Inc. now owns 2,076,055 shares of the real estate investment trust’s stock valued at $462,338,000 after buying an additional 122,015 shares in the last quarter. Finally, Morgan Stanley raised its stake in Essex Property Trust by 1.1% in the third quarter. Morgan Stanley now owns 1,235,718 shares of the real estate investment trust’s stock valued at $275,195,000 after buying an additional 13,114 shares in the last quarter. 98.95% of the stock is owned by institutional investors.

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

Essex Property Trust, Inc. (NYSE:ESS) traded down 0.63% on Monday, hitting $226.93. The stock had a trading volume of 250,768 shares. The firm’s 50 day moving average price is $227.77 and its 200-day moving average price is $222.17. Essex Property Trust, Inc. has a 12 month low of $192.40 and a 12 month high of $237.50. The stock has a market cap of $14.87 billion, a PE ratio of 36.19 and a beta of 0.52.

Essex Property Trust (NYSE:ESS) last announced its quarterly earnings results on Thursday, February 2nd. The real estate investment trust reported $2.81 earnings per share for the quarter, missing analysts’ consensus estimates of $2.82 by $0.01. Essex Property Trust had a net margin of 32.07% and a return on equity of 6.55%. During the same quarter in the previous year, the firm earned $2.63 earnings per share. On average, analysts forecast that Essex Property Trust, Inc. will post $4.11 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Tuesday, January 17th. Investors of record on Friday, December 30th were given a $1.60 dividend. The ex-dividend date of this dividend was Wednesday, December 28th. This represents a $6.40 dividend on an annualized basis and a yield of 2.80%. Essex Property Trust’s dividend payout ratio (DPR) is presently 102.07%.

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ESS has been the topic of several research analyst reports. KeyCorp upgraded Essex Property Trust from a “sector weight” rating to an “overweight” rating in a research report on Thursday, December 15th. Canaccord Genuity lowered their price objective on Essex Property Trust from $246.00 to $219.00 and set a “hold” rating on the stock in a research report on Monday, October 31st. Zacks Investment Research downgraded Essex Property Trust from a “hold” rating to a “sell” rating in a research report on Wednesday, January 11th. Cantor Fitzgerald set a $250.00 price objective on Essex Property Trust and gave the company a “buy” rating in a research report on Tuesday, December 6th. Finally, BMO Capital Markets restated a “hold” rating and issued a $238.00 price objective on shares of Essex Property Trust in a research report on Thursday, February 2nd. One analyst has rated the stock with a sell rating, ten have issued a hold rating and nine have given a buy rating to the company’s stock. Essex Property Trust currently has an average rating of “Hold” and an average price target of $244.62.

In related news, insider Angela L. Kleiman sold 1,200 shares of the business’s stock in a transaction on Thursday, December 15th. The shares were sold at an average price of $219.55, for a total value of $263,460.00. Following the completion of the sale, the insider now directly owns 7,997 shares of the company’s stock, valued at $1,755,741.35. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Angela L. Kleiman sold 300 shares of the business’s stock in a transaction on Tuesday, December 27th. The shares were sold at an average price of $232.00, for a total transaction of $69,600.00. Following the completion of the sale, the insider now directly owns 7,477 shares of the company’s stock, valued at $1,734,664. The disclosure for this sale can be found here. Over the last three months, insiders sold 5,900 shares of company stock valued at $1,315,956. 3.50% of the stock is owned by corporate insiders.

Essex Property Trust Company Profile

Essex Property Trust, Inc is a self-administered and self-managed real estate investment trust (REIT). The Company owns all of its interest in its real estate and other investments directly or indirectly through Essex Portfolio, L.P. (the Operating Partnership). The Company is engaged in the ownership, operation, management, acquisition, development and redevelopment of apartment communities.

5 Day Chart for NYSE:ESS

Want to see what other hedge funds are holding ESS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Essex Property Trust, Inc. (NYSE:ESS).

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