Essex Property Trust Inc (ESS) Holdings Trimmed by Resolution Capital Ltd

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Resolution Capital Ltd cut its holdings in shares of Essex Property Trust Inc (NYSE:ESS) by 6.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 480,943 shares of the real estate investment trust’s stock after selling 34,451 shares during the period. Essex Property Trust makes up approximately 4.5% of Resolution Capital Ltd’s investment portfolio, making the stock its 9th largest holding. Resolution Capital Ltd owned 0.73% of Essex Property Trust worth $139,108,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Ironwood Financial llc bought a new position in Essex Property Trust during the fourth quarter worth about $25,000. Shine Investment Advisory Services Inc. bought a new position in Essex Property Trust during the first quarter worth about $32,000. Dubuque Bank & Trust Co. bought a new stake in shares of Essex Property Trust during the first quarter worth approximately $33,000. Bronfman E.L. Rothschild L.P. boosted 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 acquiring an additional 46 shares during the period. Finally, Acadian Asset Management LLC bought a new stake in shares of Essex Property Trust during the fourth quarter worth approximately $87,000. Hedge funds and other institutional investors own 97.03% of the company’s stock.

In other Essex Property Trust news, insider John D. Eudy sold 3,750 shares of the business’s stock in a transaction that occurred on Thursday, February 14th. The shares were sold at an average price of $276.06, for a total transaction of $1,035,225.00. Following the completion of the transaction, the insider now directly owns 14,205 shares in the company, valued at $3,921,432.30. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Angela L. Kleiman sold 1,177 shares of the business’s stock in a transaction that occurred 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 transaction, the chief financial officer now owns 6,916 shares of the company’s stock, 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 valued at $4,904,753. Company insiders own 3.60% of the company’s stock.

A number of equities research analysts have recently issued reports on ESS shares. Janney Montgomery Scott upgraded Essex Property Trust from a “neutral” rating to a “buy” rating and set a $255.60 price objective for the company in a report on Wednesday, December 19th. Barclays restated a “buy” rating and set a $310.00 price objective on shares of Essex Property Trust in a report on Tuesday. Jefferies Financial Group cut Essex Property Trust from a “buy” rating to a “hold” rating and boosted their price objective for the stock from $290.00 to $295.00 in a report on Thursday, February 7th. They noted that the move was a valuation call. Citigroup set a $275.00 price objective on Essex Property Trust and gave the stock a “hold” rating in a report on Tuesday, February 5th. Finally, BMO Capital Markets restated a “hold” rating and set a $295.00 price objective on shares of Essex Property Trust in a report on Monday, March 25th. Ten analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Essex Property Trust presently has a consensus rating of “Buy” and a consensus price target of $279.57.

Shares of ESS stock traded down $3.44 during trading on Wednesday, hitting $275.06. The company had a trading volume of 4,309 shares, compared to its average volume of 269,602. The company has a current ratio of 1.76, a quick ratio of 1.76 and a debt-to-equity ratio of 0.88. The stock has a market cap of $18.29 billion, a P/E ratio of 21.84, a price-to-earnings-growth ratio of 3.85 and a beta of 0.48. Essex Property Trust Inc has a one year low of $226.22 and a one year high of $294.61.

Essex Property Trust (NYSE:ESS) last issued its quarterly earnings results on Wednesday, January 30th. The real estate investment trust reported $3.19 earnings per share (EPS) for the quarter, meeting the consensus estimate of $3.19. Essex Property Trust had a return on equity of 5.74% and a net margin of 27.87%. The business had revenue of $353.16 million during the quarter, compared to analysts’ expectations of $351.76 million. During the same period in the previous year, the company posted $3.01 earnings per share. Analysts forecast that Essex Property Trust Inc will post 13.07 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 12th. Shareholders of record on Friday, March 29th were given a dividend of $1.95 per share. This is an increase from Essex Property Trust’s previous quarterly dividend of $1.86. This represents a $7.80 annualized dividend and a yield of 2.84%. The ex-dividend date of this dividend was Thursday, March 28th. Essex Property Trust’s payout ratio is currently 62.05%.

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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.

See Also: Cost of Equity For A Business, Investors

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).

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

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