Nisa Investment Advisors LLC raised its position in shares of Essex Property Trust Inc (NYSE:ESS) by 13.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 20,160 shares of the real estate investment trust’s stock after buying an additional 2,325 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Essex Property Trust were worth $4,866,000 at the end of the most recent quarter.
A number of other hedge funds have also recently bought and sold shares of the business. Parametric Portfolio Associates LLC lifted its position in shares of Essex Property Trust by 8.2% in the third quarter. Parametric Portfolio Associates LLC now owns 138,279 shares of the real estate investment trust’s stock worth $35,127,000 after purchasing an additional 10,465 shares in the last quarter. Public Employees Retirement System of Ohio lifted its position in shares of Essex Property Trust by 2.1% in the third quarter. Public Employees Retirement System of Ohio now owns 102,825 shares of the real estate investment trust’s stock worth $26,121,000 after purchasing an additional 2,072 shares in the last quarter. GSA Capital Partners LLP purchased a new stake in shares of Essex Property Trust in the third quarter worth approximately $1,696,000. IFM Investors Pty Ltd purchased a new stake in shares of Essex Property Trust in the third quarter worth approximately $474,000. Finally, Neuberger Berman Group LLC lifted its position in shares of Essex Property Trust by 11.1% in the third quarter. Neuberger Berman Group LLC now owns 120,213 shares of the real estate investment trust’s stock worth $30,538,000 after purchasing an additional 12,056 shares in the last quarter. 97.15% of the stock is owned by institutional investors.
In other Essex Property Trust news, insider Craig K. Zimmerman sold 167 shares of the stock in a transaction that occurred on Friday, November 10th. The stock was sold at an average price of $255.50, for a total transaction of $42,668.50. Following the transaction, the insider now owns 10,450 shares in the company, valued at $2,669,975. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Gary P. Martin sold 1,000 shares of the stock in a transaction that occurred on Monday, November 6th. The shares were sold at an average price of $255.59, for a total value of $255,590.00. Following the transaction, the director now owns 6,236 shares in the company, valued at approximately $1,593,859.24. The disclosure for this sale can be found here. Insiders sold 9,687 shares of company stock worth $2,408,772 in the last 90 days. 3.30% of the stock is currently owned by corporate insiders.
Essex Property Trust (NYSE:ESS) last released its quarterly earnings data on Wednesday, November 1st. The real estate investment trust reported $1.22 EPS for the quarter, missing analysts’ consensus estimates of $2.96 by ($1.74). Essex Property Trust had a return on equity of 8.19% and a net margin of 38.95%. analysts expect that Essex Property Trust Inc will post 11.89 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, January 16th. Investors of record on Friday, December 29th were issued a $1.75 dividend. The ex-dividend date was Thursday, December 28th. This represents a $7.00 dividend on an annualized basis and a yield of 3.08%. Essex Property Trust’s dividend payout ratio is currently 87.61%.
A number of research firms have recently issued reports on ESS. BMO Capital Markets reissued a “hold” rating and issued a $250.00 price target on shares of Essex Property Trust in a research report on Tuesday, January 9th. Raymond James Financial reissued an “underperform” rating on shares of Essex Property Trust in a research report on Monday, January 8th. Robert W. Baird reissued a “buy” rating and issued a $273.00 price target on shares of Essex Property Trust in a research report on Tuesday, October 17th. Sandler O’Neill set a $250.00 price target on shares of Essex Property Trust and gave the stock a “hold” rating in a research report on Friday, January 12th. Finally, BTIG Research raised shares of Essex Property Trust from a “neutral” rating to a “buy” rating and set a $273.00 price target for the company in a research report on Wednesday, December 13th. Three analysts have rated the stock with a sell rating, seven have issued a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $269.41.
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Essex Property Trust Company Profile
Essex Property Trust, Inc is a self-administered and self-managed real estate investment trust. The Company is engaged primarily in the ownership, operation, management, acquisition, development and redevelopment of predominantly apartment communities, located along the West Coast. Its segments include Southern California, Northern California, Seattle Metro and Other real estate assets.
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