Pacer Advisors Inc. Has $780,000 Position in Essex Property Trust, Inc. $ESS

Pacer Advisors Inc. trimmed its position in Essex Property Trust, Inc. (NYSE:ESS) by 36.4% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,223 shares of the real estate investment trust’s stock after selling 1,847 shares during the quarter. Pacer Advisors Inc.’s holdings in Essex Property Trust were worth $780,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in ESS. Dorsey & Whitney Trust CO LLC lifted its holdings in shares of Essex Property Trust by 5.2% during the fourth quarter. Dorsey & Whitney Trust CO LLC now owns 814 shares of the real estate investment trust’s stock worth $213,000 after buying an additional 40 shares in the last quarter. Segment Wealth Management LLC grew its stake in shares of Essex Property Trust by 5.1% in the fourth quarter. Segment Wealth Management LLC now owns 913 shares of the real estate investment trust’s stock valued at $239,000 after acquiring an additional 44 shares in the last quarter. Norinchukin Bank The increased its position in Essex Property Trust by 0.6% during the third quarter. Norinchukin Bank The now owns 6,957 shares of the real estate investment trust’s stock worth $1,862,000 after acquiring an additional 44 shares during the period. Signaturefd LLC increased its position in Essex Property Trust by 11.3% during the fourth quarter. Signaturefd LLC now owns 445 shares of the real estate investment trust’s stock worth $116,000 after acquiring an additional 45 shares during the period. Finally, Tokio Marine Asset Management Co. Ltd. increased its position in Essex Property Trust by 2.0% during the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 2,537 shares of the real estate investment trust’s stock worth $664,000 after acquiring an additional 50 shares during the period. 96.51% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the stock. UBS Group set a $290.00 price objective on shares of Essex Property Trust in a report on Thursday, June 18th. Jefferies Financial Group raised shares of Essex Property Trust to a “strong-buy” rating in a report on Wednesday, July 22nd. Wall Street Zen cut Essex Property Trust from a “hold” rating to a “sell” rating in a research note on Saturday, August 1st. Raymond James Financial upgraded Essex Property Trust from a “market perform” rating to an “outperform” rating and set a $320.00 price target for the company in a research note on Friday, June 26th. Finally, Scotiabank increased their price target on Essex Property Trust from $290.00 to $307.00 and gave the stock an “outperform” rating in a research report on Thursday, July 9th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $303.99.

Essex Property Trust Stock Performance

Shares of Essex Property Trust stock opened at $283.14 on Tuesday. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 1.22. The company has a market cap of $18.20 billion, a PE ratio of 44.03, a price-to-earnings-growth ratio of 10.56 and a beta of 0.69. The company has a 50 day moving average of $288.13 and a 200-day moving average of $267.64. Essex Property Trust, Inc. has a 1-year low of $238.46 and a 1-year high of $303.35.

Essex Property Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were given a dividend of $2.59 per share. This represents a $10.36 annualized dividend and a yield of 3.7%. The ex-dividend date was Tuesday, June 30th. Essex Property Trust’s payout ratio is currently 161.12%.

Insiders Place Their Bets

In other Essex Property Trust news, Director Mary Kasaris sold 600 shares of the company’s stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $279.45, for a total transaction of $167,670.00. Following the completion of the sale, the director directly owned 2,394 shares in the company, valued at $669,003.30. This represents a 20.04% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 3.47% of the stock is owned by insiders.

Essex Property Trust Company Profile

Essex Property Trust, Inc (NYSE: ESS) is a publicly traded real estate investment trust that acquires, develops, owns and operates multifamily residential properties. The company focuses on market-rate apartment communities and delivers a full suite of property services including leasing, resident services, asset management, and capital improvement programs designed to preserve and enhance long‑term property values.

Essex concentrates its portfolio in West Coast markets, with a significant presence in California and the Pacific Northwest.