Livforsakringsbolaget Skandia Omsesidigt Trims Stake in Essex Property Trust Inc (ESS)

Livforsakringsbolaget Skandia Omsesidigt trimmed its holdings in Essex Property Trust Inc (NYSE:ESS) by 40.0% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 600 shares of the real estate investment trust’s stock after selling 400 shares during the period. Livforsakringsbolaget Skandia Omsesidigt’s holdings in Essex Property Trust were worth $148,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. Bbva Compass Bancshares Inc. raised its holdings in Essex Property Trust by 20.7% during the second quarter. Bbva Compass Bancshares Inc. now owns 1,354 shares of the real estate investment trust’s stock worth $324,000 after purchasing an additional 232 shares in the last quarter. Nissay Asset Management Corp Japan ADV raised its holdings in Essex Property Trust by 3.3% during the second quarter. Nissay Asset Management Corp Japan ADV now owns 9,417 shares of the real estate investment trust’s stock worth $2,251,000 after purchasing an additional 298 shares in the last quarter. Amalgamated Bank raised its holdings in Essex Property Trust by 4.1% during the second quarter. Amalgamated Bank now owns 8,467 shares of the real estate investment trust’s stock worth $2,024,000 after purchasing an additional 330 shares in the last quarter. TD Asset Management Inc. raised its holdings in Essex Property Trust by 1.7% during the second quarter. TD Asset Management Inc. now owns 19,605 shares of the real estate investment trust’s stock worth $4,687,000 after purchasing an additional 336 shares in the last quarter. Finally, Bridgewater Associates LP raised its holdings in Essex Property Trust by 11.6% during the second quarter. Bridgewater Associates LP now owns 3,568 shares of the real estate investment trust’s stock worth $853,000 after purchasing an additional 370 shares in the last quarter. 96.22% of the stock is owned by institutional investors and hedge funds.

Several research firms recently issued reports on ESS. BMO Capital Markets cut shares of Essex Property Trust from an “outperform” rating to a “market perform” rating and increased their price target for the stock from $255.00 to $260.00 in a report on Friday. Stifel Nicolaus reissued a “buy” rating and set a $275.00 price target on shares of Essex Property Trust in a report on Wednesday. Mitsubishi UFJ Financial Group increased their price target on shares of Essex Property Trust from $266.00 to $270.00 and gave the stock an “overweight” rating in a report on Wednesday. Capital One Financial reissued an “equal weight” rating on shares of Essex Property Trust in a report on Sunday, October 21st. Finally, Zacks Investment Research cut shares of Essex Property Trust from a “buy” rating to a “hold” rating in a report on Tuesday, October 16th. Thirteen research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $264.32.

In other Essex Property Trust news, insider Angela L. Kleiman sold 750 shares of the company’s stock in a transaction dated Thursday, August 16th. The shares were sold at an average price of $240.80, for a total transaction of $180,600.00. Following the transaction, the insider now directly owns 9,149 shares in the company, valued at $2,203,079.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Michael J. Schall sold 3,012 shares of the company’s stock in a transaction dated Wednesday, October 24th. The stock was sold at an average price of $252.63, for a total transaction of $760,921.56. Following the transaction, the chief executive officer now owns 47,997 shares in the company, valued at $12,125,482.11. The disclosure for this sale can be found here. Insiders have sold 6,597 shares of company stock worth $1,659,153 over the last 90 days. 3.30% of the stock is currently owned by company insiders.

Shares of ESS opened at $247.88 on Friday. The company has a current ratio of 1.31, a quick ratio of 1.85 and a debt-to-equity ratio of 0.88. Essex Property Trust Inc has a twelve month low of $214.03 and a twelve month high of $259.83. The stock has a market cap of $16.38 billion, a price-to-earnings ratio of 20.01, a P/E/G ratio of 3.23 and a beta of 0.20.

Essex Property Trust (NYSE:ESS) last issued its earnings results on Monday, October 29th. The real estate investment trust reported $1.22 earnings per share for the quarter, missing the consensus estimate of $3.14 by ($1.92). Essex Property Trust had a return on equity of 5.52% and a net margin of 27.01%. The company had revenue of $350.92 million for the quarter, compared to analyst estimates of $351.58 million. During the same quarter in the previous year, the company posted $2.98 earnings per share. Equities analysts anticipate that Essex Property Trust Inc will post 12.56 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Friday, October 12th. Shareholders of record on Friday, September 28th were given a dividend of $1.86 per share. The ex-dividend date of this dividend was Thursday, September 27th. This represents a $7.44 annualized dividend and a yield of 3.00%. Essex Property Trust’s payout ratio is currently 62.47%.

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. The Company currently has ownership interests in 247 apartment communities comprising approximately 60,000 apartment homes, excluding six properties in various stages of active development, one commercial building, preferred equity co-investments, and loan investments.

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

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