Pacer Advisors Inc. Has $780,000 Stock Position in Essex Property Trust, Inc. $ESS

Pacer Advisors Inc. trimmed its position in Essex Property Trust, Inc. (NYSE:ESS) by 36.4% in the first quarter, Holdings Channel reports. The fund owned 3,223 shares of the real estate investment trust’s stock after selling 1,847 shares during the quarter. Pacer Advisors Inc.’s holdings in Essex Property Trust were worth $780,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. Nemes Rush Group LLC bought a new stake in Essex Property Trust during the 4th quarter worth $27,000. Generali Asset Management SPA SGR acquired a new stake in shares of Essex Property Trust during the fourth quarter valued at about $29,000. Cassaday & Co Wealth Management LLC acquired a new stake in shares of Essex Property Trust during the first quarter valued at about $38,000. Western Wealth Management LLC bought a new stake in shares of Essex Property Trust during the first quarter worth about $44,000. Finally, MUFG Securities EMEA plc bought a new stake in shares of Essex Property Trust during the second quarter worth about $54,000. Institutional investors and hedge funds own 96.51% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Royal Bank Of Canada upped their price objective on Essex Property Trust from $306.00 to $312.00 and gave the company an “outperform” rating in a research note on Friday, July 31st. Stifel Nicolaus set a $292.75 target price on shares of Essex Property Trust in a report on Thursday, July 30th. JPMorgan Chase & Co. upped their price target on shares of Essex Property Trust from $272.00 to $275.00 and gave the company an “underweight” rating in a research report on Monday, May 18th. Sanford C. Bernstein initiated coverage on shares of Essex Property Trust in a research note on Friday, June 26th. They set an “outperform” rating and a $320.00 price target for the company. Finally, Citizens Jmp upgraded shares of Essex Property Trust from a “market perform” rating to an “outperform” rating and set a $330.00 price target on the stock in a report on Friday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $303.99.

Essex Property Trust Trading Down 1.7%

ESS opened at $283.14 on Tuesday. Essex Property Trust, Inc. has a twelve month low of $238.46 and a twelve month high of $303.35. The company has a fifty day moving average of $288.13 and a 200-day moving average of $267.64. The stock has a market cap of $18.20 billion, a PE ratio of 44.03, a price-to-earnings-growth ratio of 10.56 and a beta of 0.69. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 1.22.

Essex Property Trust Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were issued a dividend of $2.59 per share. This represents a $10.36 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date was Tuesday, June 30th. Essex Property Trust’s dividend payout ratio (DPR) is presently 161.12%.

Insider Buying and Selling at Essex Property Trust

In other news, Director Mary Kasaris sold 600 shares of Essex Property Trust stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $279.45, for a total value of $167,670.00. Following the completion of the transaction, the director directly owned 2,394 shares of the company’s stock, valued at approximately $669,003.30. This trade represents a 20.04% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 3.47% of the company’s stock.

About Essex Property Trust

Essex Property Trust, Inc (NYSE: ESS) is a publicly traded real estate investment trust that acquires, develops, owns and operates multifamily residential properties. The company focuses on market-rate apartment communities and delivers a full suite of property services including leasing, resident services, asset management, and capital improvement programs designed to preserve and enhance long?term property values.

Essex concentrates its portfolio in West Coast markets, with a significant presence in California and the Pacific Northwest.