Claro Advisors LLC Raises Position in Essex Property Trust, Inc. (NYSE:ESS)

Claro Advisors LLC increased its position in Essex Property Trust, Inc. (NYSE:ESS - Free Report) by 1,209.2% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 28,278 shares of the real estate investment trust's stock after acquiring an additional 26,118 shares during the period. Essex Property Trust comprises about 0.8% of Claro Advisors LLC's investment portfolio, making the stock its 21st biggest holding. Claro Advisors LLC's holdings in Essex Property Trust were worth $8,354,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Continuum Advisory LLC grew its holdings in shares of Essex Property Trust by 214.3% in the second quarter. Continuum Advisory LLC now owns 110 shares of the real estate investment trust's stock worth $30,000 after acquiring an additional 75 shares during the period. UMB Bank n.a. grew its holdings in shares of Essex Property Trust by 600.0% in the second quarter. UMB Bank n.a. now owns 112 shares of the real estate investment trust's stock worth $30,000 after acquiring an additional 96 shares during the period. Family Firm Inc. bought a new stake in shares of Essex Property Trust in the second quarter worth $31,000. Whittier Trust Co. of Nevada Inc. grew its holdings in Essex Property Trust by 121.8% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 193 shares of the real estate investment trust's stock valued at $53,000 after purchasing an additional 106 shares during the period. Finally, Ridgewood Investments LLC bought a new stake in Essex Property Trust during the second quarter valued at about $66,000. Institutional investors own 96.51% of the company's stock.

Insider Buying and Selling

In other Essex Property Trust news, CAO Anne Morrison sold 2,571 shares of the company's stock in a transaction on Monday, September 16th. The stock was sold at an average price of $314.79, for a total transaction of $809,325.09. Following the completion of the sale, the chief accounting officer now owns 2,321 shares in the company, valued at $730,627.59. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Essex Property Trust news, Director Amal M. Johnson sold 2,453 shares of the company's stock in a transaction on Friday, August 30th. The stock was sold at an average price of $300.00, for a total transaction of $735,900.00. Following the completion of the sale, the director now owns 2,585 shares in the company, valued at $775,500. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Anne Morrison sold 2,571 shares of the stock in a transaction on Monday, September 16th. The shares were sold at an average price of $314.79, for a total value of $809,325.09. Following the sale, the chief accounting officer now owns 2,321 shares of the company's stock, valued at approximately $730,627.59. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 20,402 shares of company stock valued at $6,399,663 over the last quarter. 3.80% of the stock is owned by corporate insiders.

Essex Property Trust Trading Up 0.8 %

Shares of ESS traded up $2.35 during mid-day trading on Friday, reaching $296.60. 198,587 shares of the company's stock traded hands, compared to its average volume of 380,199. The stock has a market cap of $19.04 billion, a P/E ratio of 36.04, a P/E/G ratio of 5.21 and a beta of 0.88. The stock's 50-day moving average is $296.27 and its two-hundred day moving average is $275.20. Essex Property Trust, Inc. has a 12 month low of $203.85 and a 12 month high of $317.73. The company has a debt-to-equity ratio of 1.11, a current ratio of 1.62 and a quick ratio of 1.62.

Essex Property Trust (NYSE:ESS - Get Free Report) last announced its quarterly earnings data on Tuesday, July 30th. The real estate investment trust reported $1.45 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.85 by ($2.40). Essex Property Trust had a return on equity of 9.14% and a net margin of 30.31%. The firm had revenue of $442.36 million during the quarter, compared to the consensus estimate of $433.26 million. During the same period last year, the company earned $3.77 EPS. Research analysts forecast that Essex Property Trust, Inc. will post 15.55 earnings per share for the current fiscal year.

Essex Property Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Monday, September 30th were paid a $2.45 dividend. The ex-dividend date of this dividend was Monday, September 30th. This represents a $9.80 annualized dividend and a yield of 3.30%. Essex Property Trust's dividend payout ratio (DPR) is currently 119.80%.

Wall Street Analyst Weigh In

Several research firms have issued reports on ESS. UBS Group boosted their price target on Essex Property Trust from $261.00 to $283.00 and gave the company a "neutral" rating in a report on Thursday, July 18th. Wedbush boosted their price target on Essex Property Trust from $264.00 to $301.00 and gave the company a "neutral" rating in a report on Monday, August 5th. JPMorgan Chase & Co. boosted their price target on Essex Property Trust from $265.00 to $297.00 and gave the company a "neutral" rating in a report on Monday, September 16th. Stifel Nicolaus boosted their price target on Essex Property Trust from $267.00 to $268.00 and gave the company a "hold" rating in a report on Wednesday, July 31st. Finally, Evercore ISI boosted their price target on Essex Property Trust from $283.00 to $287.00 and gave the company an "in-line" rating in a report on Monday, September 16th. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $293.40.

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