Montag A & Associates Inc. Takes Position in Essex Property Trust Inc (NYSE:ESS)

Montag A & Associates Inc. acquired a new stake in shares of Essex Property Trust Inc (NYSE:ESS) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 617 shares of the real estate investment trust’s stock, valued at approximately $202,000.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Private Capital Group LLC increased its holdings in shares of Essex Property Trust by 22.2% during the second quarter. Private Capital Group LLC now owns 176 shares of the real estate investment trust’s stock valued at $42,000 after acquiring an additional 32 shares in the last quarter. Commonwealth Bank of Australia increased its holdings in shares of Essex Property Trust by 3.0% during the second quarter. Commonwealth Bank of Australia now owns 1,159 shares of the real estate investment trust’s stock valued at $336,000 after acquiring an additional 34 shares in the last quarter. 6 Meridian increased its holdings in shares of Essex Property Trust by 2.1% during the second quarter. 6 Meridian now owns 1,876 shares of the real estate investment trust’s stock valued at $548,000 after acquiring an additional 38 shares in the last quarter. FTB Advisors Inc. increased its holdings in shares of Essex Property Trust by 33.1% during the third quarter. FTB Advisors Inc. now owns 157 shares of the real estate investment trust’s stock valued at $51,000 after acquiring an additional 39 shares in the last quarter. Finally, World Asset Management Inc increased its holdings in Essex Property Trust by 0.9% in the 2nd quarter. World Asset Management Inc now owns 4,802 shares of the real estate investment trust’s stock worth $1,402,000 after buying an additional 41 shares during the period. Hedge funds and other institutional investors own 96.47% of the company’s stock.

Several equities analysts recently weighed in on the stock. Capital One Financial reiterated an “equal weight” rating on shares of Essex Property Trust in a report on Monday, September 16th. KeyCorp increased their price target on shares of Essex Property Trust from $320.00 to $342.00 and gave the stock an “overweight” rating in a report on Tuesday, October 8th. Stifel Nicolaus set a $355.00 price target on shares of Essex Property Trust and gave the stock a “buy” rating in a report on Friday, October 25th. Barclays set a $350.00 price target on shares of Essex Property Trust and gave the stock a “buy” rating in a report on Friday, October 11th. Finally, Citigroup increased their price target on shares of Essex Property Trust from $280.00 to $300.00 and gave the stock a “neutral” rating in a report on Tuesday, July 30th. Eight analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $324.43.

In other news, EVP John F. Burkart sold 1,546 shares of the firm’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $321.99, for a total transaction of $497,796.54. Following the sale, the executive vice president now owns 5,465 shares of the company’s stock, valued at approximately $1,759,675.35. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Janice L. Sears sold 2,500 shares of the firm’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $324.26, for a total transaction of $810,650.00. Following the sale, the director now directly owns 3,583 shares in the company, valued at approximately $1,161,823.58. The disclosure for this sale can be found here. Insiders have sold a total of 81,551 shares of company stock worth $25,904,657 in the last ninety days. Corporate insiders own 3.60% of the company’s stock.

NYSE:ESS traded up $0.09 during midday trading on Friday, hitting $314.92. The company’s stock had a trading volume of 191,778 shares, compared to its average volume of 298,036. Essex Property Trust Inc has a fifty-two week low of $235.51 and a fifty-two week high of $334.17. The firm’s 50 day moving average is $326.19 and its 200-day moving average is $306.92. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.59 and a quick ratio of 1.59. The firm has a market cap of $21.04 billion, a P/E ratio of 25.05, a P/E/G ratio of 3.80 and a beta of 0.30.

Essex Property Trust (NYSE:ESS) last issued its quarterly earnings data on Wednesday, October 23rd. The real estate investment trust reported $1.53 EPS for the quarter, missing analysts’ consensus estimates of $3.36 by ($1.83). The firm had revenue of $366.93 million for the quarter, compared to analyst estimates of $365.49 million. Essex Property Trust had a return on equity of 6.73% and a net margin of 29.78%. During the same period in the previous year, the business earned $3.15 EPS. As a group, analysts forecast that Essex Property Trust Inc will post 13.33 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were paid a dividend of $1.95 per share. The ex-dividend date was Friday, September 27th. This represents a $7.80 dividend on an annualized basis and a dividend yield of 2.48%. Essex Property Trust’s payout ratio is 62.05%.

Essex Property Trust 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.

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

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