Essex Property Trust, Inc. (NYSE:ESS) Shares Sold by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC decreased its position in shares of Essex Property Trust, Inc. (NYSE:ESS) by 5.0% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 37,896 shares of the real estate investment trust’s stock after selling 2,010 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Essex Property Trust were worth $11,195,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of ESS. Continuum Advisory LLC raised its holdings in shares of Essex Property Trust by 214.3% during the second quarter. Continuum Advisory LLC now owns 110 shares of the real estate investment trust’s stock worth $30,000 after purchasing an additional 75 shares during the last quarter. UMB Bank n.a. raised its stake in shares of Essex Property Trust by 600.0% during the 2nd quarter. UMB Bank n.a. now owns 112 shares of the real estate investment trust’s stock valued at $30,000 after buying an additional 96 shares during the last quarter. Family Firm Inc. acquired a new position in shares of Essex Property Trust in the 2nd quarter valued at about $31,000. Whittier Trust Co. of Nevada Inc. boosted its stake in shares of Essex Property Trust by 121.8% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 193 shares of the real estate investment trust’s stock worth $53,000 after buying an additional 106 shares during the last quarter. Finally, Ridgewood Investments LLC acquired a new stake in Essex Property Trust during the second quarter worth about $66,000. Hedge funds and other institutional investors own 96.51% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have issued reports on ESS shares. BNP Paribas started coverage on Essex Property Trust in a report on Wednesday, September 11th. They issued an “outperform” rating and a $333.00 price target for the company. Evercore ISI increased their price target on shares of Essex Property Trust from $283.00 to $287.00 and gave the stock an “in-line” rating in a report on Monday, September 16th. Wells Fargo & Company lifted their price objective on shares of Essex Property Trust from $269.00 to $314.00 and gave the company an “equal weight” rating in a report on Monday, August 26th. JPMorgan Chase & Co. increased their target price on shares of Essex Property Trust from $265.00 to $297.00 and gave the stock a “neutral” rating in a research note on Monday, September 16th. Finally, Piper Sandler lifted their price target on Essex Property Trust from $315.00 to $355.00 and gave the company an “overweight” rating in a research note on Monday, August 26th. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $293.40.

Essex Property Trust Price Performance

Shares of NYSE ESS opened at $293.76 on Thursday. The stock has a market capitalization of $18.88 billion, a price-to-earnings ratio of 34.32, a price-to-earnings-growth ratio of 5.01 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 firm has a 50-day simple moving average of $297.44 and a 200-day simple moving average of $280.77. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 1.13.

Essex Property Trust (NYSE:ESS) last released its earnings results 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 business had revenue of $450.70 million during the quarter, compared to analysts’ expectations 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 period last year, the business earned $3.78 earnings per share. On average, equities analysts predict that Essex Property Trust, Inc. will post 15.56 earnings per share for the current fiscal year.

Essex Property Trust Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Monday, September 30th were issued a $2.45 dividend. This represents a $9.80 annualized dividend and a yield of 3.34%. The ex-dividend date of this dividend was Monday, September 30th. Essex Property Trust’s payout ratio is currently 114.49%.

Insiders Place Their Bets

In other news, Director Amal M. Johnson sold 2,453 shares of the business’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $300.00, for a total transaction of $735,900.00. Following the transaction, the director now owns 2,585 shares of the company’s stock, valued at approximately $775,500. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, CAO Anne Morrison sold 2,571 shares of Essex Property Trust stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $314.79, for a total transaction of $809,325.09. Following the sale, the chief accounting officer now owns 2,321 shares of the company’s stock, 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 Securities & Exchange Commission, which can be accessed through this link. Also, Director Amal M. Johnson sold 2,453 shares of the stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $300.00, for a total value of $735,900.00. Following the completion of the transaction, the director now owns 2,585 shares of the company’s stock, valued at $775,500. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 20,402 shares of company stock valued at $6,399,663 in the last three months. 3.80% of the stock is currently owned by insiders.

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.