Vest Financial LLC Trims Position in Essex Property Trust, Inc. (NYSE:ESS)

Vest Financial LLC decreased its holdings in Essex Property Trust, Inc. (NYSE:ESS - Free Report) by 7.6% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 169,488 shares of the real estate investment trust's stock after selling 13,977 shares during the quarter. Vest Financial LLC owned 0.26% of Essex Property Trust worth $50,070,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. State Board of Administration of Florida Retirement System raised its holdings in shares of Essex Property Trust by 2.6% during the first quarter. State Board of Administration of Florida Retirement System now owns 81,456 shares of the real estate investment trust's stock valued at $19,941,000 after purchasing an additional 2,083 shares during the last quarter. Canada Pension Plan Investment Board lifted its holdings in shares of Essex Property Trust by 8.7% during the 1st quarter. Canada Pension Plan Investment Board now owns 225,045 shares of the real estate investment trust's stock valued at $55,093,000 after buying an additional 18,000 shares during the period. Mizuho Markets Americas LLC lifted its holdings in shares of Essex Property Trust by 107.9% during the 1st quarter. Mizuho Markets Americas LLC now owns 43,802 shares of the real estate investment trust's stock valued at $10,723,000 after buying an additional 22,736 shares during the period. ORG Partners LLC purchased a new position in shares of Essex Property Trust in the 2nd quarter worth $743,000. Finally, Caxton Associates LP bought a new stake in shares of Essex Property Trust in the first quarter worth $532,000. Institutional investors own 96.51% of the company's stock.

Essex Property Trust Price Performance

ESS stock traded up $2.25 during mid-day trading on Friday, hitting $296.50. The company had a trading volume of 198,747 shares, compared to its average volume of 380,199. The company has a 50-day moving average price of $296.55 and a 200 day moving average price of $276.15. Essex Property Trust, Inc. has a 12-month low of $203.85 and a 12-month high of $317.73. The company has a market capitalization of $19.04 billion, a price-to-earnings ratio of 36.25, a P/E/G ratio of 5.21 and a beta of 0.88. The company has a quick ratio of 1.62, a current ratio of 1.62 and a debt-to-equity ratio of 1.11.

Essex Property Trust (NYSE:ESS - Get Free Report) last released its quarterly earnings results on Tuesday, July 30th. The real estate investment trust reported $1.45 earnings per share for the quarter, missing the consensus estimate of $3.85 by ($2.40). The firm had revenue of $442.36 million for the quarter, compared to analysts' expectations of $433.26 million. Essex Property Trust had a net margin of 30.31% and a return on equity of 9.14%. During the same quarter in the prior year, the business earned $3.77 EPS. On average, research analysts anticipate that Essex Property Trust, Inc. will post 15.55 earnings per share for the current year.

Essex Property Trust Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Monday, September 30th were given a dividend of $2.45 per share. This represents a $9.80 annualized dividend and a dividend yield of 3.31%. The ex-dividend date of this dividend was Monday, September 30th. Essex Property Trust's dividend payout ratio is 119.80%.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Stifel Nicolaus raised their target price on Essex Property Trust from $267.00 to $268.00 and gave the stock a "hold" rating in a research report on Wednesday, July 31st. Bank of America lowered shares of Essex Property Trust from a "buy" rating to a "neutral" rating and boosted their target price for the company from $307.00 to $321.00 in a research report on Tuesday, September 24th. Wells Fargo & Company increased their price target on shares of Essex Property Trust from $269.00 to $314.00 and gave the stock an "equal weight" rating in a research report on Monday, August 26th. Evercore ISI boosted their price objective on shares of Essex Property Trust from $283.00 to $287.00 and gave the company an "in-line" rating in a research report on Monday, September 16th. Finally, JPMorgan Chase & Co. upped their price objective on Essex Property Trust from $265.00 to $297.00 and gave the stock a "neutral" rating in a research note on Monday, September 16th. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and seven have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $293.40.

Insider Activity at Essex Property Trust

In other Essex Property Trust news, Director Amal M. Johnson sold 2,453 shares of the business's stock in a transaction that occurred 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 sale, the director now directly owns 2,585 shares of the company's stock, valued at $775,500. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, Director Amal M. Johnson sold 2,453 shares of the firm's stock in a transaction on Friday, August 30th. The stock was sold at an average price of $300.00, for a total value of $735,900.00. Following the completion of the sale, the director now directly owns 2,585 shares in the company, valued at $775,500. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Amal M. Johnson sold 7,298 shares of the business's stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $316.31, for a total transaction of $2,308,430.38. Following the transaction, the director now owns 2,585 shares in the company, valued at $817,661.35. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 20,402 shares of company stock valued at $6,399,663. Insiders own 3.80% 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 252 apartment communities comprising approximately 62,000 apartment homes with an additional property in active development.