Highstreet Asset Management Inc. decreased its holdings in shares of Essex Property Trust Inc (NYSE:ESS) by 54.7% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 650 shares of the real estate investment trust’s stock after selling 785 shares during the quarter. Highstreet Asset Management Inc.’s holdings in Essex Property Trust were worth $157,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in ESS. Advisor Group Inc. grew its stake in shares of Essex Property Trust by 14.2% during the second quarter. Advisor Group Inc. now owns 1,021 shares of the real estate investment trust’s stock valued at $262,000 after buying an additional 127 shares during the last quarter. Stifel Financial Corp grew its stake in shares of Essex Property Trust by 1.5% during the second quarter. Stifel Financial Corp now owns 13,791 shares of the real estate investment trust’s stock valued at $3,548,000 after buying an additional 210 shares during the last quarter. Balyasny Asset Management LLC bought a new position in shares of Essex Property Trust during the second quarter valued at approximately $5,866,000. First Allied Advisory Services Inc. bought a new position in shares of Essex Property Trust during the second quarter valued at approximately $210,000. Finally, Janus Henderson Group PLC grew its stake in shares of Essex Property Trust by 1,333.6% during the second quarter. Janus Henderson Group PLC now owns 119,666 shares of the real estate investment trust’s stock valued at $30,787,000 after buying an additional 111,319 shares during the last quarter. 97.01% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Essex Property Trust Inc (NYSE:ESS) opened at $225.38 on Friday. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.88. The stock has a market capitalization of $14,883.42, a P/E ratio of 28.21, a P/E/G ratio of 2.91 and a beta of 0.42. Essex Property Trust Inc has a twelve month low of $218.41 and a twelve month high of $270.04.

Essex Property Trust (NYSE:ESS) last posted its earnings results on Wednesday, November 1st. The real estate investment trust reported $1.22 earnings per share for the quarter, missing analysts’ consensus estimates of $2.96 by ($1.74). The company had revenue of $344.37 million for the quarter, compared to analysts’ expectations of $342.10 million. Essex Property Trust had a return on equity of 8.19% and a net margin of 38.95%. research analysts expect that Essex Property Trust Inc will post 11.89 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Tuesday, January 16th. Shareholders of record on Friday, December 29th were issued a dividend of $1.75 per share. The ex-dividend date was Thursday, December 28th. This represents a $7.00 dividend on an annualized basis and a yield of 3.11%. Essex Property Trust’s dividend payout ratio is currently 87.61%.

A number of research analysts have recently commented on the company. Barclays reaffirmed a “buy” rating and set a $283.00 target price on shares of Essex Property Trust in a research note on Thursday, October 19th. Zacks Investment Research cut Essex Property Trust from a “buy” rating to a “hold” rating in a research note on Friday, October 13th. Robert W. Baird reaffirmed a “buy” rating and set a $273.00 target price on shares of Essex Property Trust in a research note on Tuesday, October 17th. Royal Bank of Canada reiterated a “buy” rating and issued a $276.00 price target on shares of Essex Property Trust in a report on Friday, October 20th. Finally, Cantor Fitzgerald reiterated a “buy” rating and issued a $279.00 price target on shares of Essex Property Trust in a report on Wednesday, November 8th. Three analysts have rated the stock with a sell rating, seven have given a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $265.24.

In other Essex Property Trust news, CFO Angela L. Kleiman sold 600 shares of the company’s stock in a transaction on Monday, December 11th. The stock was sold at an average price of $247.16, for a total transaction of $148,296.00. Following the completion of the sale, the chief financial officer now owns 7,777 shares in the company, valued at $1,922,163.32. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Craig K. Zimmerman sold 167 shares of the company’s stock in a transaction on Friday, November 10th. The stock was sold at an average price of $255.50, for a total value of $42,668.50. Following the sale, the insider now owns 10,450 shares of the company’s stock, valued at approximately $2,669,975. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 9,687 shares of company stock valued at $2,408,772. 3.30% of the stock is owned by company insiders.

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About Essex Property Trust

Essex Property Trust, Inc is a self-administered and self-managed real estate investment trust. The Company is engaged primarily in the ownership, operation, management, acquisition, development and redevelopment of predominantly apartment communities, located along the West Coast. Its segments include Southern California, Northern California, Seattle Metro and Other real estate assets.

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

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