Janney Montgomery Scott LLC Has $10.58 Million Stock Holdings in Essex Property Trust, Inc. (NYSE:ESS)

Janney Montgomery Scott LLC increased its stake in Essex Property Trust, Inc. (NYSE:ESSFree Report) by 1.6% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 43,212 shares of the real estate investment trust’s stock after acquiring an additional 690 shares during the quarter. Janney Montgomery Scott LLC owned about 0.07% of Essex Property Trust worth $10,579,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in ESS. Lindbrook Capital LLC increased its holdings in Essex Property Trust by 111.5% in the fourth quarter. Lindbrook Capital LLC now owns 110 shares of the real estate investment trust’s stock worth $27,000 after purchasing an additional 58 shares in the last quarter. Venturi Wealth Management LLC lifted its position in shares of Essex Property Trust by 112.3% during the 1st quarter. Venturi Wealth Management LLC now owns 138 shares of the real estate investment trust’s stock valued at $34,000 after acquiring an additional 73 shares during the period. Vima LLC acquired a new position in shares of Essex Property Trust during the 4th quarter valued at $40,000. Bruce G. Allen Investments LLC bought a new position in Essex Property Trust during the fourth quarter worth $41,000. Finally, Bear Mountain Capital Inc. acquired a new stake in Essex Property Trust in the fourth quarter worth $55,000. 96.51% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

ESS has been the subject of several analyst reports. Mizuho increased their target price on shares of Essex Property Trust from $250.00 to $266.00 and gave the company a “buy” rating in a report on Thursday, May 30th. Scotiabank lifted their target price on Essex Property Trust from $283.00 to $285.00 and gave the stock a “sector outperform” rating in a research note on Friday, June 14th. StockNews.com upgraded shares of Essex Property Trust from a “sell” rating to a “hold” rating in a research report on Wednesday, May 1st. Raymond James raised Essex Property Trust from a “market perform” rating to an “outperform” rating and set a $265.00 price objective for the company in a report on Monday, March 18th. Finally, Morgan Stanley lifted their price target on Essex Property Trust from $230.00 to $250.00 and gave the company an “equal weight” rating in a research report on Tuesday, May 14th. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $258.63.

Check Out Our Latest Stock Analysis on ESS

Essex Property Trust Price Performance

ESS stock opened at $272.24 on Monday. The company has a current ratio of 3.19, a quick ratio of 3.19 and a debt-to-equity ratio of 1.14. The firm’s 50-day moving average price is $265.40 and its two-hundred day moving average price is $248.56. The stock has a market capitalization of $17.48 billion, a price-to-earnings ratio of 33.28, a PEG ratio of 3.81 and a beta of 0.86. Essex Property Trust, Inc. has a 12-month low of $203.85 and a 12-month high of $284.77.

Essex Property Trust Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 24th. Investors of record on Friday, June 28th will be issued a dividend of $2.45 per share. The ex-dividend date of this dividend is Friday, June 28th. This represents a $9.80 dividend on an annualized basis and a dividend yield of 3.60%. Essex Property Trust’s dividend payout ratio is presently 119.80%.

Insider Activity at Essex Property Trust

In other news, Director Keith R. Guericke sold 10,000 shares of Essex Property Trust stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $274.57, for a total transaction of $2,745,700.00. Following the sale, the director now owns 16,118 shares of the company’s stock, valued at approximately $4,425,519.26. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Angela L. Kleiman sold 3,780 shares of Essex Property Trust stock in a transaction that occurred on Friday, June 21st. The shares were sold at an average price of $278.27, for a total transaction of $1,051,860.60. Following the completion of the transaction, the chief executive officer now directly owns 9,494 shares in the company, valued at $2,641,895.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Keith R. Guericke sold 10,000 shares of the business’s stock in a transaction on Friday, June 14th. The stock was sold at an average price of $274.57, for a total value of $2,745,700.00. Following the completion of the sale, the director now directly owns 16,118 shares in the company, valued at $4,425,519.26. The disclosure for this sale can be found here. 3.90% of the stock is currently owned by company insiders.

Essex Property Trust Profile

(Free Report)

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.

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

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