Rockefeller Capital Management LP lowered its holdings in shares of Essex Property Trust, Inc. (NYSE: ESS – Get Rating) by 42.8% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 606 shares of the real estate investment trust’s stock after selling 454 shares during the period. Rockefeller Capital Management LP’s holdings in Essex Property Trust were worth $ 213,000 as of its most recent filing with the SEC.
A number of other institutional investors have also bought and sold shares of ESS. Millennium Management LLC grew its holdings in Essex Property Trust by 225.6% during the third quarter. Millennium Management LLC now owns 181,331 shares of the real estate investment trust’s stock worth $ 57,979,000 after purchasing an additional 125,635 shares during the period. Qube Research & Technologies Ltd bought a new position in Essex Property Trust during the fourth quarter worth about $ 18,177,000. Schonfeld Strategic Advisors LLC grew its holdings in Essex Property Trust by 195.7% during the third quarter. Schonfeld Strategic Advisors LLC now owns 68,923 shares of the real estate investment trust’s stock worth $ 22,038,000 after purchasing an additional 45,611 shares during the period. Bank of New York Mellon Corp grew its holdings in Essex Property Trust by 7.1% during the third quarter. Bank of New York Mellon Corp now owns 573,775 shares of the real estate investment trust’s stock worth $ 183,458,000 after purchasing an additional 38,081 shares during the period. Finally, GEM Realty Capital bought a new position in Essex Property Trust during the third quarter worth about $ 11,766,000. Institutional investors and hedge funds own 96.09% of the company stock.
In related news, CEO Michael J. Schall sold 12,132 shares of the business’s stock in a transaction on Tuesday, March 29th. The shares were sold at an average price of $ 349.19, for a total value of $ 4,236,373.08. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Angela L. Kleiman sold 6,309 shares of the business’s stock in a transaction on Tuesday, March 29th. The stock was sold at an average price of $ 354.21, for a total transaction of $ 2,234,710.89. The disclosure for this sale can be found here. Insiders own 3.70% of the company stock.
NYSE ESS opened at $ 283.09 on Wednesday. The firm’s fifty day moving average price is $ 318.14 and its two-hundred day moving average price is $ 330.68. The stock has a market cap of $ 18.50 billion, a PE ratio of 46.87, a PEG ratio of 3.31 and a beta of 0.75. Essex Property Trust, Inc. has a fifty-two week low of $ 274.50 and a fifty-two week high of $ 363.36. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.41 and a current ratio of 1.41.
Essex Property Trust (NYSE: ESS – Get Rating) last posted its earnings results on Tuesday, April 26th. The real estate investment trust reported $ 1.12 earnings per share for the quarter, missing analysts’ consensus estimates of $ 3.35 by ($ 2.23). Essex Property Trust had a return on equity of 5.25% and a net margin of 26.81%. During the same quarter in the prior year, the firm posted $ 3.07 EPS. As a group, sell-side analysts predict that Essex Property Trust, Inc. will post 14.06 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, July 15th. Shareholders of record on Thursday, June 30th will be paid a dividend of $ 2.20 per share. The ex-dividend date is Wednesday, June 29th. This represents a $ 8.80 dividend on an annualized basis and a dividend yield of 3.11%. Essex Property Trust’s payout ratio is presently 145.70%.
ESS has been the subject of several research reports. Truist Financial cut their price objective on shares of Essex Property Trust from $ 370.00 to $ 323.00 and set a “buy” rating for the company in a research report on Wednesday, May 25th. BMO Capital Markets downgraded shares of Essex Property Trust from an “outperform” rating to a “market perform” rating and cut their price target for the stock from $ 378.00 to $ 320.00 in a research report on Tuesday, May 31st. Barclays downgraded shares of Essex Property Trust from an “equal weight” rating to an “underweight” rating and cut their price target for the stock from $ 367.00 to $ 310.00 in a research report on Tuesday, May 10th. The Goldman Sachs Group upgraded shares of Essex Property Trust from a “sell” rating to a “buy” rating and cut their price target for the stock from $ 352.00 to $ 338.00 in a research report on Tuesday, May 17th. Finally, StockNews.com assumed coverage on shares of Essex Property Trust in a research report on Thursday, March 31st. They issued a “hold” rating for the company. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and nine have issued a buy rating to the company stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $ 350.06.
Essex Property Trust Profile: (Get Rating)
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 246 apartment communities comprising approximately 60,000 apartment homes with an additional 6 properties in various stages of active development.
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