Hill Winds Capital LP bought a new position in shares of Essex Property Trust Inc (NYSE:ESS) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 11,500 shares of the real estate investment trust’s stock, valued at approximately $3,460,000. Essex Property Trust accounts for 2.3% of Hill Winds Capital LP’s holdings, making the stock its 19th biggest holding.
Other institutional investors also recently modified their holdings of the company. Valeo Financial Advisors LLC purchased a new stake in shares of Essex Property Trust during the 4th quarter worth approximately $30,000. HWG Holdings LP purchased a new position in Essex Property Trust in the 3rd quarter valued at approximately $31,000. Prime Capital Investment Advisors LLC acquired a new position in Essex Property Trust during the third quarter worth $46,000. AdvisorNet Financial Inc boosted its position in Essex Property Trust by 1,241.7% during the third quarter. AdvisorNet Financial Inc now owns 161 shares of the real estate investment trust’s stock worth $53,000 after purchasing an additional 149 shares in the last quarter. Finally, Evoke Wealth LLC grew its holdings in Essex Property Trust by 177.3% in the fourth quarter. Evoke Wealth LLC now owns 183 shares of the real estate investment trust’s stock valued at $55,000 after purchasing an additional 117 shares during the last quarter. 94.83% of the stock is owned by institutional investors.
Shares of NYSE ESS traded down $20.25 during midday trading on Thursday, reaching $296.69. 635,100 shares of the stock were exchanged, compared to its average volume of 486,123. The stock has a 50 day moving average price of $312.89 and a 200-day moving average price of $315.66. The company has a current ratio of 1.36, a quick ratio of 1.36 and a debt-to-equity ratio of 0.91. The company has a market capitalization of $21.04 billion, a P/E ratio of 44.48, a P/E/G ratio of 3.78 and a beta of 0.32. Essex Property Trust Inc has a 52-week low of $271.58 and a 52-week high of $334.17.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st will be given a $2.0775 dividend. The ex-dividend date is Monday, March 30th. This represents a $8.31 dividend on an annualized basis and a dividend yield of 2.80%. This is an increase from Essex Property Trust’s previous quarterly dividend of $1.95. Essex Property Trust’s payout ratio is currently 58.30%.
Several research firms have recently issued reports on ESS. BTIG Research downgraded Essex Property Trust from a “buy” rating to a “neutral” rating in a research note on Monday, November 25th. Evercore ISI raised shares of Essex Property Trust from an “in-line” rating to an “outperform” rating and set a $341.00 price objective on the stock in a research note on Tuesday, November 19th. Goldman Sachs Group began coverage on shares of Essex Property Trust in a research report on Friday, November 8th. They set a “buy” rating and a $355.00 target price for the company. SunTrust Banks increased their price target on shares of Essex Property Trust from $315.00 to $330.00 and gave the company a “hold” rating in a research report on Friday, February 21st. Finally, Sandler O’Neill raised shares of Essex Property Trust from a “hold” rating to a “buy” rating and set a $355.00 price objective for the company in a research note on Monday, November 18th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $331.64.
In other news, CAO John Farias sold 822 shares of the stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $316.25, for a total transaction of $259,957.50. Following the transaction, the chief accounting officer now directly owns 1,533 shares in the company, valued at approximately $484,811.25. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Irving F. Lyons III sold 2,500 shares of the firm’s stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $324.05, for a total transaction of $810,125.00. Following the completion of the sale, the director now directly owns 10,372 shares in the company, valued at $3,361,046.60. The disclosure for this sale can be found here. In the last ninety days, insiders sold 25,284 shares of company stock valued at $8,021,837. Company insiders own 3.60% of the company’s stock.
About Essex Property Trust
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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