Stephens Inc. AR Has $295,000 Stock Holdings in Essex Property Trust, Inc. (NYSE:ESS)

Stephens Inc. AR lessened its position in shares of Essex Property Trust, Inc. (NYSE:ESS) by 5.4% during the 3rd quarter, HoldingsChannel reports. The fund owned 997 shares of the real estate investment trust’s stock after selling 57 shares during the quarter. Stephens Inc. AR’s holdings in Essex Property Trust were worth $295,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Legacy Wealth Asset Management LLC lifted its stake in Essex Property Trust by 4.7% in the third quarter. Legacy Wealth Asset Management LLC now owns 775 shares of the real estate investment trust’s stock valued at $229,000 after buying an additional 35 shares during the period. EP Wealth Advisors LLC lifted its stake in Essex Property Trust by 3.7% in the first quarter. EP Wealth Advisors LLC now owns 1,228 shares of the real estate investment trust’s stock valued at $301,000 after buying an additional 44 shares during the period. M&R Capital Management Inc. raised its position in shares of Essex Property Trust by 5.4% during the second quarter. M&R Capital Management Inc. now owns 1,014 shares of the real estate investment trust’s stock worth $276,000 after purchasing an additional 52 shares during the period. Quilter Plc raised its position in shares of Essex Property Trust by 0.6% during the second quarter. Quilter Plc now owns 8,698 shares of the real estate investment trust’s stock worth $2,368,000 after purchasing an additional 52 shares during the period. Finally, Mather Group LLC. raised its position in shares of Essex Property Trust by 7.4% during the third quarter. Mather Group LLC. now owns 781 shares of the real estate investment trust’s stock worth $231,000 after purchasing an additional 54 shares during the period. Institutional investors and hedge funds own 96.51% of the company’s stock.

Insider Buying and Selling at Essex Property Trust

In other Essex Property Trust news, CAO Anne Morrison sold 2,571 shares of the company’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $314.79, for a total value of $809,325.09. Following the sale, the chief accounting officer now owns 2,321 shares in the company, valued at approximately $730,627.59. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, Director Amal M. Johnson sold 7,298 shares of the business’s stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $316.31, for a total value of $2,308,430.38. Following the transaction, the director now directly owns 2,585 shares of the company’s stock, valued at $817,661.35. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Anne Morrison sold 2,571 shares of the business’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $314.79, for a total value of $809,325.09. Following the completion of the transaction, the chief accounting officer now directly owns 2,321 shares in the company, valued at $730,627.59. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 20,402 shares of company stock worth $6,399,663. Insiders own 3.90% of the company’s stock.

Essex Property Trust Trading Up 0.9 %

Shares of ESS opened at $296.54 on Friday. The firm has a market cap of $19.06 billion, a price-to-earnings ratio of 34.64, a PEG ratio of 5.07 and a beta of 0.88. Essex Property Trust, Inc. has a 52-week low of $204.64 and a 52-week high of $317.73. The company has a debt-to-equity ratio of 1.13, a quick ratio of 1.14 and a current ratio of 1.14. The business’s fifty day moving average is $297.44 and its 200-day moving average is $280.77.

Essex Property Trust (NYSE:ESS) last issued its quarterly earnings data on Tuesday, October 29th. The real estate investment trust reported $1.84 earnings per share for the quarter, missing analysts’ consensus estimates of $3.88 by ($2.04). The firm had revenue of $450.70 million for the quarter, compared to the consensus estimate of $445.88 million. Essex Property Trust had a return on equity of 9.72% and a net margin of 31.55%. During the same quarter in the prior year, the firm earned $3.78 EPS. Equities analysts anticipate that Essex Property Trust, Inc. will post 15.56 EPS for the current fiscal year.

Essex Property Trust Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Monday, September 30th were given a $2.45 dividend. The ex-dividend date was Monday, September 30th. This represents a $9.80 dividend on an annualized basis and a dividend yield of 3.30%. Essex Property Trust’s dividend payout ratio (DPR) is presently 114.49%.

Analyst Ratings Changes

A number of equities research analysts have recently commented on ESS shares. Stifel Nicolaus raised their price target on Essex Property Trust from $267.00 to $268.00 and gave the stock a “hold” rating in a research report on Wednesday, July 31st. The Goldman Sachs Group began coverage on Essex Property Trust in a report on Wednesday, September 4th. They set a “neutral” rating and a $318.00 price objective for the company. BNP Paribas began coverage on Essex Property Trust in a report on Wednesday, September 11th. They set an “outperform” rating and a $333.00 price objective for the company. Piper Sandler increased their price objective on Essex Property Trust from $315.00 to $355.00 and gave the stock an “overweight” rating in a report on Monday, August 26th. Finally, UBS Group raised their price target on Essex Property Trust from $261.00 to $283.00 and gave the company a “neutral” rating in a research note on Thursday, July 18th. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $293.40.

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 252 apartment communities comprising approximately 62,000 apartment homes with an additional property in active development.