Cibc World Markets Corp Purchases 3,151 Shares of Essex Property Trust, Inc. (NYSE:ESS)

Cibc World Markets Corp increased its holdings in Essex Property Trust, Inc. (NYSE:ESS - Free Report) by 12.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 28,850 shares of the real estate investment trust's stock after buying an additional 3,151 shares during the period. Cibc World Markets Corp's holdings in Essex Property Trust were worth $8,235,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also made changes to their positions in the company. Geode Capital Management LLC raised its holdings in Essex Property Trust by 1.5% in the 3rd quarter. Geode Capital Management LLC now owns 1,726,072 shares of the real estate investment trust's stock valued at $508,381,000 after acquiring an additional 25,591 shares in the last quarter. Principal Financial Group Inc. increased its position in shares of Essex Property Trust by 5.0% in the fourth quarter. Principal Financial Group Inc. now owns 1,494,298 shares of the real estate investment trust's stock worth $426,532,000 after purchasing an additional 70,785 shares during the period. Massachusetts Financial Services Co. MA raised its stake in Essex Property Trust by 16.1% in the third quarter. Massachusetts Financial Services Co. MA now owns 1,329,516 shares of the real estate investment trust's stock valued at $392,766,000 after purchasing an additional 183,947 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in Essex Property Trust by 2.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 772,883 shares of the real estate investment trust's stock worth $220,612,000 after purchasing an additional 18,704 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Essex Property Trust by 732.9% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 719,596 shares of the real estate investment trust's stock worth $212,583,000 after purchasing an additional 633,200 shares during the period. 96.51% of the stock is currently owned by institutional investors.

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Essex Property Trust Trading Down 0.7 %

Shares of ESS stock traded down $2.02 during trading hours on Friday, hitting $300.06. 849,497 shares of the company's stock traded hands, compared to its average volume of 360,806. The stock has a market cap of $19.30 billion, a PE ratio of 26.00, a price-to-earnings-growth ratio of 6.84 and a beta of 0.90. The stock's 50 day simple moving average is $292.37 and its 200 day simple moving average is $294.66. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 1.15. Essex Property Trust, Inc. has a 12 month low of $230.90 and a 12 month high of $317.73.

Essex Property Trust (NYSE:ESS - Get Free Report) last announced its earnings results on Tuesday, February 4th. The real estate investment trust reported $3.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.40 by $2.52. Essex Property Trust had a return on equity of 13.05% and a net margin of 41.79%. On average, sell-side analysts anticipate that Essex Property Trust, Inc. will post 15.96 EPS for the current year.

Essex Property Trust Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be issued a $2.57 dividend. The ex-dividend date is Monday, March 31st. This is a boost from Essex Property Trust's previous quarterly dividend of $2.45. This represents a $10.28 annualized dividend and a yield of 3.43%. Essex Property Trust's dividend payout ratio is presently 89.08%.

Analyst Ratings Changes

Several brokerages have recently commented on ESS. BMO Capital Markets upgraded shares of Essex Property Trust from a "market perform" rating to an "outperform" rating and dropped their target price for the company from $323.00 to $310.00 in a research report on Monday, January 13th. JPMorgan Chase & Co. downgraded shares of Essex Property Trust from a "neutral" rating to an "underweight" rating and boosted their price objective for the company from $297.00 to $303.00 in a research report on Tuesday, December 17th. JMP Securities restated a "market perform" rating on shares of Essex Property Trust in a research note on Thursday, February 6th. Barclays lifted their price target on Essex Property Trust from $302.00 to $304.00 and gave the company an "equal weight" rating in a research note on Wednesday, February 19th. Finally, Mizuho dropped their price objective on Essex Property Trust from $325.00 to $300.00 and set an "outperform" rating for the company in a research report on Monday, January 6th. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating and seven have issued a buy rating to the company's stock. According to MarketBeat.com, Essex Property Trust has an average rating of "Hold" and a consensus price target of $307.16.

Insider Buying and Selling at Essex Property Trust

In other news, Director Keith R. Guericke sold 7,298 shares of Essex Property Trust stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $315.00, for a total value of $2,298,870.00. Following the completion of the sale, the director now owns 16,118 shares in the company, valued at $5,077,170. The trade was a 31.17 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Mary Kasaris sold 2,800 shares of the stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $300.80, for a total transaction of $842,240.00. Following the transaction, the director now directly owns 1,755 shares in the company, valued at approximately $527,904. This represents a 61.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 21,345 shares of company stock valued at $6,682,539. 3.80% of the stock is currently owned by company insiders.

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 252 apartment communities comprising approximately 62,000 apartment homes with an additional property in active development.