Massmutual Trust Co. FSB ADV Sells 209 Shares of Essex Property Trust Inc (NYSE:ESS)

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Massmutual Trust Co. FSB ADV lessened its stake in Essex Property Trust Inc (NYSE:ESS) by 6.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 3,266 shares of the real estate investment trust’s stock after selling 209 shares during the period. Massmutual Trust Co. FSB ADV’s holdings in Essex Property Trust were worth $953,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ESS. Geode Capital Management LLC lifted its stake in shares of Essex Property Trust by 9.1% in the fourth quarter. Geode Capital Management LLC now owns 1,082,222 shares of the real estate investment trust’s stock valued at $265,001,000 after buying an additional 90,392 shares during the period. Raymond James & Associates lifted its stake in shares of Essex Property Trust by 3.7% in the first quarter. Raymond James & Associates now owns 15,759 shares of the real estate investment trust’s stock valued at $4,558,000 after buying an additional 562 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its stake in shares of Essex Property Trust by 6.6% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 3,841 shares of the real estate investment trust’s stock valued at $1,111,000 after buying an additional 237 shares during the period. Mason Street Advisors LLC lifted its stake in shares of Essex Property Trust by 0.6% in the first quarter. Mason Street Advisors LLC now owns 9,372 shares of the real estate investment trust’s stock valued at $2,711,000 after buying an additional 58 shares during the period. Finally, TD Asset Management Inc. lifted its stake in shares of Essex Property Trust by 52.0% in the first quarter. TD Asset Management Inc. now owns 31,233 shares of the real estate investment trust’s stock valued at $9,034,000 after buying an additional 10,687 shares during the period. Institutional investors and hedge funds own 96.85% of the company’s stock.

ESS has been the subject of several research reports. BTIG Research upgraded shares of Essex Property Trust from a “neutral” rating to a “buy” rating and set a $335.00 target price for the company in a research note on Thursday, August 15th. KeyCorp increased their target price on shares of Essex Property Trust from $311.00 to $320.00 and gave the company an “overweight” rating in a research note on Wednesday, July 31st. Morgan Stanley increased their target price on shares of Essex Property Trust from $320.00 to $354.00 and gave the company an “overweight” rating in a research note on Friday, September 6th. Capital One Financial reiterated an “equal weight” rating on shares of Essex Property Trust in a research note on Monday. Finally, Barclays raised their price target on shares of Essex Property Trust from $310.00 to $328.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 16th. Eight investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $300.84.

ESS traded down $1.48 during midday trading on Thursday, reaching $326.93. 133,060 shares of the company’s stock were exchanged, compared to its average volume of 287,200. The firm has a market capitalization of $21.32 billion, a price-to-earnings ratio of 26.01, a price-to-earnings-growth ratio of 3.92 and a beta of 0.35. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.92. Essex Property Trust Inc has a one year low of $235.51 and a one year high of $330.80. The business has a 50-day simple moving average of $315.63 and a two-hundred day simple moving average of $296.80.

Essex Property Trust (NYSE:ESS) last announced its quarterly earnings results on Wednesday, July 24th. The real estate investment trust reported $1.40 EPS for the quarter, missing analysts’ consensus estimates of $3.26 by ($1.86). The business had revenue of $361.64 million for the quarter, compared to the consensus estimate of $358.15 million. Essex Property Trust had a return on equity of 6.43% and a net margin of 28.83%. During the same quarter in the prior year, the business earned $3.14 EPS. As a group, research analysts anticipate that Essex Property Trust Inc will post 13.32 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be paid a dividend of $1.95 per share. This represents a $7.80 dividend on an annualized basis and a yield of 2.39%. The ex-dividend date is Friday, September 27th. Essex Property Trust’s dividend payout ratio is 62.05%.

In other news, Director Byron A. Scordelis sold 5,109 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $322.00, for a total transaction of $1,645,098.00. Following the completion of the sale, the director now owns 4,595 shares of the company’s stock, valued at $1,479,590. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider John F. Burkart sold 13,807 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $312.62, for a total transaction of $4,316,344.34. Following the sale, the insider now directly owns 17,726 shares of the company’s stock, valued at approximately $5,541,502.12. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 79,051 shares of company stock valued at $25,094,007. Corporate insiders own 3.60% of the company’s stock.

Essex Property Trust Profile

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 245 apartment communities with an additional 6 properties in various stages of active development.

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

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