Daiwa Securities Group Inc. lowered its position in shares of Essex Property Trust Inc (NYSE:ESS) by 9.5% during the fourth quarter, HoldingsChannel reports. The firm owned 1,279,706 shares of the real estate investment trust’s stock after selling 134,936 shares during the quarter. Essex Property Trust makes up about 2.2% of Daiwa Securities Group Inc.’s portfolio, making the stock its 12th largest holding. Daiwa Securities Group Inc.’s holdings in Essex Property Trust were worth $308,882,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Tower Research Capital LLC TRC increased its position in shares of Essex Property Trust by 145.3% during the second quarter. Tower Research Capital LLC TRC now owns 471 shares of the real estate investment trust’s stock worth $121,000 after purchasing an additional 279 shares in the last quarter. Breton Hill Capital Ltd. acquired a new stake in shares of Essex Property Trust during the third quarter worth about $200,000. Beacon Investment Advisory Services Inc. acquired a new stake in shares of Essex Property Trust during the third quarter worth about $200,000. Beaton Management Co. Inc. acquired a new stake in shares of Essex Property Trust during the second quarter worth about $207,000. Finally, Shelton Capital Management acquired a new stake in shares of Essex Property Trust during the fourth quarter worth about $208,000. Institutional investors and hedge funds own 96.82% of the company’s stock.

In other Essex Property Trust news, CEO Michael J. Schall sold 4,801 shares of Essex Property Trust stock in a transaction that occurred on Monday, December 11th. The stock was sold at an average price of $247.37, for a total value of $1,187,623.37. Following the sale, the chief executive officer now owns 49,564 shares of the company’s stock, valued at approximately $12,260,646.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP John D. Eudy sold 1,700 shares of Essex Property Trust stock in a transaction that occurred on Monday, December 11th. The shares were sold at an average price of $247.24, for a total value of $420,308.00. Following the completion of the sale, the executive vice president now directly owns 10,130 shares in the company, valued at approximately $2,504,541.20. The disclosure for this sale can be found here. Insiders sold a total of 8,102 shares of company stock worth $2,003,715 in the last 90 days. 3.30% of the stock is currently owned by insiders.

ESS has been the topic of a number of research analyst reports. Raymond James Financial reiterated an “underperform” rating on shares of Essex Property Trust in a research report on Monday, January 8th. Barclays cut their target price on Essex Property Trust from $277.00 to $271.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 30th. BMO Capital Markets reiterated a “hold” rating and set a $257.00 target price on shares of Essex Property Trust in a research report on Monday, November 27th. Stifel Nicolaus cut Essex Property Trust from a “buy” rating to a “hold” rating and cut their target price for the stock from $280.00 to $235.00 in a research report on Friday, January 19th. Finally, Mitsubishi UFJ Financial Group reiterated a “neutral” rating on shares of Essex Property Trust in a research report on Friday, November 3rd. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. The company has an average rating of “Hold” and an average target price of $265.24.

Essex Property Trust Inc (NYSE ESS) opened at $218.28 on Friday. The stock has a market capitalization of $14,383.53, a PE ratio of 33.17, a P/E/G ratio of 2.81 and a beta of 0.42. Essex Property Trust Inc has a 52-week low of $214.03 and a 52-week high of $270.04. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.83 and a quick ratio of 0.83.

Essex Property Trust (NYSE:ESS) last issued its quarterly earnings results on Wednesday, February 7th. The real estate investment trust reported $3.01 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $3.00 by $0.01. The firm had revenue of $345.06 million for the quarter, compared to analysts’ expectations of $346.50 million. Essex Property Trust had a return on equity of 6.76% and a net margin of 31.75%. During the same quarter in the previous year, the firm posted $2.85 EPS. equities analysts expect that Essex Property Trust Inc will post 12.41 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Tuesday, January 16th. Investors of record on Friday, December 29th were given a $1.75 dividend. This represents a $7.00 annualized dividend and a yield of 3.21%. The ex-dividend date was Thursday, December 28th. Essex Property Trust’s dividend payout ratio (DPR) is presently 106.38%.

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Essex Property Trust Company Profile

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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