Lenox Wealth Management Inc. Purchases Shares of 1,912 Essex Property Trust Inc (ESS)

Lenox Wealth Management Inc. purchased a new position in Essex Property Trust Inc (NYSE:ESS) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 1,912 shares of the real estate investment trust’s stock, valued at approximately $489,000.

Several other institutional investors have also recently added to or reduced their stakes in ESS. Bbva Compass Bancshares Inc. lifted its holdings in shares of Essex Property Trust by 1.4% during the second quarter. Bbva Compass Bancshares Inc. now owns 1,140 shares of the real estate investment trust’s stock worth $293,000 after purchasing an additional 16 shares during the period. CIBC Asset Management Inc lifted its holdings in shares of Essex Property Trust by 0.3% during the second quarter. CIBC Asset Management Inc now owns 7,065 shares of the real estate investment trust’s stock worth $1,818,000 after purchasing an additional 24 shares during the period. Candriam Luxembourg S.C.A. lifted its holdings in shares of Essex Property Trust by 4.4% during the second quarter. Candriam Luxembourg S.C.A. now owns 5,093 shares of the real estate investment trust’s stock worth $1,310,000 after purchasing an additional 214 shares during the period. Korea Investment CORP lifted its holdings in shares of Essex Property Trust by 26.0% during the second quarter. Korea Investment CORP now owns 40,508 shares of the real estate investment trust’s stock worth $10,421,000 after purchasing an additional 8,357 shares during the period. Finally, IFP Advisors Inc lifted its holdings in shares of Essex Property Trust by 0.3% during the second quarter. IFP Advisors Inc now owns 1,575 shares of the real estate investment trust’s stock worth $405,000 after purchasing an additional 4 shares during the period. 97.14% of the stock is owned by hedge funds and other institutional investors.

Essex Property Trust Inc (ESS) traded up $0.46 during trading on Friday, hitting $241.37. The stock had a trading volume of 257,266 shares, compared to its average volume of 368,606. The stock has a market capitalization of $15,930.00, a PE ratio of 30.25, a PEG ratio of 3.25 and a beta of 0.50. Essex Property Trust Inc has a 1-year low of $218.41 and a 1-year 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.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 16th. Stockholders of record on Friday, December 29th will be given a $1.75 dividend. This represents a $7.00 dividend on an annualized basis and a dividend yield of 2.90%. The ex-dividend date is Thursday, December 28th. Essex Property Trust’s dividend payout ratio (DPR) is presently 87.72%.

In related news, CEO Michael J. Schall sold 4,801 shares of the business’s stock in a transaction that occurred on Monday, December 11th. The stock was sold at an average price of $247.37, for a total transaction of $1,187,623.37. Following the completion of the sale, the chief executive officer now directly owns 49,564 shares in the company, valued at $12,260,646.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Angela L. Kleiman sold 600 shares of the business’s stock in a transaction that occurred on Monday, December 11th. The stock was sold at an average price of $247.16, for a total value of $148,296.00. Following the sale, the chief financial officer now owns 7,777 shares of the company’s stock, valued at $1,922,163.32. The disclosure for this sale can be found here. Insiders sold 10,269 shares of company stock valued at $2,558,882 over the last 90 days. Company insiders own 3.30% of the company’s stock.

ESS has been the subject of a number of research reports. Royal Bank of Canada reaffirmed a “buy” rating on shares of Essex Property Trust in a report on Sunday, November 12th. Cantor Fitzgerald reaffirmed a “buy” rating and set a $279.00 target price on shares of Essex Property Trust in a report on Wednesday, November 8th. Zacks Investment Research raised Essex Property Trust from a “hold” rating to a “buy” rating and set a $289.00 target price for the company in a report on Tuesday, October 10th. Robert W. Baird reaffirmed a “buy” rating and set a $273.00 target price on shares of Essex Property Trust in a report on Tuesday, September 12th. Finally, Stifel Nicolaus initiated coverage on Essex Property Trust in a report on Friday, September 1st. They issued a “buy” rating and a $294.00 price target for the company. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $271.19.

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Essex Property Trust 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.

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

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