Stephens Inc. AR Sells 233 Shares of Essex Property Trust, Inc. (NYSE:ESS)

Stephens Inc. AR cut its stake in shares of Essex Property Trust, Inc. (NYSE:ESSGet Rating) by 9.4% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,235 shares of the real estate investment trust’s stock after selling 233 shares during the quarter. Stephens Inc. AR’s holdings in Essex Property Trust were worth $541,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Great West Life Assurance Co. Can increased its holdings in shares of Essex Property Trust by 1.7% during the third quarter. Great West Life Assurance Co. Can now owns 99,847 shares of the real estate investment trust’s stock valued at $24,174,000 after acquiring an additional 1,705 shares in the last quarter. Park Avenue Securities LLC increased its holdings in shares of Essex Property Trust by 150.1% during the third quarter. Park Avenue Securities LLC now owns 2,171 shares of the real estate investment trust’s stock valued at $526,000 after acquiring an additional 1,303 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its holdings in shares of Essex Property Trust by 26.0% during the third quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 99,394 shares of the real estate investment trust’s stock valued at $24,076,000 after acquiring an additional 20,523 shares in the last quarter. Dupont Capital Management Corp increased its holdings in shares of Essex Property Trust by 25.6% during the third quarter. Dupont Capital Management Corp now owns 6,407 shares of the real estate investment trust’s stock valued at $1,552,000 after acquiring an additional 1,306 shares in the last quarter. Finally, Czech National Bank bought a new position in shares of Essex Property Trust during the third quarter valued at $1,833,000. 91.76% of the stock is currently owned by institutional investors.

Insider Activity

In related news, Director Amal M. Johnson acquired 500 shares of the stock in a transaction dated Friday, December 2nd. The shares were purchased at an average cost of $218.44 per share, with a total value of $109,220.00. Following the transaction, the director now directly owns 2,000 shares in the company, valued at $436,880. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 3.70% of the company’s stock.

Essex Property Trust Stock Down 0.0 %

ESS stock opened at $216.19 on Monday. Essex Property Trust, Inc. has a twelve month low of $205.24 and a twelve month high of $363.36. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 1.05. The stock has a market cap of $14.00 billion, a P/E ratio of 39.16, a PEG ratio of 1.93 and a beta of 0.72. The business’s 50-day moving average price is $213.91 and its 200-day moving average price is $240.93.

Essex Property Trust Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 13th. Stockholders of record on Tuesday, January 3rd were given a dividend of $2.20 per share. The ex-dividend date was Friday, December 30th. This represents a $8.80 dividend on an annualized basis and a dividend yield of 4.07%. Essex Property Trust’s payout ratio is currently 159.42%.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on ESS. Raymond James downgraded Essex Property Trust from an “outperform” rating to a “market perform” rating in a report on Wednesday, November 23rd. Piper Sandler cut Essex Property Trust from an “overweight” rating to a “neutral” rating and dropped their price objective for the company from $297.00 to $250.00 in a research report on Friday, October 28th. Mizuho dropped their price objective on Essex Property Trust from $264.00 to $221.00 and set a “neutral” rating on the stock in a research report on Thursday, November 10th. JPMorgan Chase & Co. cut Essex Property Trust from an “overweight” rating to a “neutral” rating and dropped their price objective for the company from $284.00 to $267.00 in a research report on Friday, December 16th. Finally, Barclays dropped their price objective on Essex Property Trust from $300.00 to $219.00 and set an “underweight” rating on the stock in a research report on Thursday, November 10th. Three investment analysts have rated the stock with a sell rating, twelve have given a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, Essex Property Trust currently has an average rating of “Hold” and an average target price of $254.85.

Essex Property Trust Profile

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Essex Property Trust, Inc operates as a real estate investment trust. It engages in the ownership, operation, management, acquisition, development, and redevelopment of predominantly apartment communities. The company was founded by George M. Marcus in 1971 and is headquartered in San Mateo, CA.

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

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