Essex Property Trust, Inc. (NYSE:ESS) Stock Position Decreased by Victory Capital Management Inc.

Victory Capital Management Inc. lowered its position in shares of Essex Property Trust, Inc. (NYSE:ESS - Free Report) by 23.3% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 43,383 shares of the real estate investment trust's stock after selling 13,212 shares during the quarter. Victory Capital Management Inc. owned approximately 0.07% of Essex Property Trust worth $12,816,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Continuum Advisory LLC raised its stake in Essex Property Trust by 214.3% in the 2nd quarter. Continuum Advisory LLC now owns 110 shares of the real estate investment trust's stock valued at $30,000 after purchasing an additional 75 shares during the last quarter. UMB Bank n.a. lifted its holdings in 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 valued at $30,000 after acquiring an additional 96 shares during the last quarter. Assetmark Inc. grew its position in Essex Property Trust by 2,400.0% in the third quarter. Assetmark Inc. now owns 100 shares of the real estate investment trust's stock worth $30,000 after acquiring an additional 96 shares during the period. Family Firm Inc. acquired a new stake in Essex Property Trust during the second quarter worth $31,000. Finally, Whittier Trust Co. of Nevada Inc. raised its position in Essex Property Trust by 121.8% in 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. Hedge funds and other institutional investors own 96.51% of the company's stock.

Essex Property Trust Stock Down 0.4 %

NYSE:ESS opened at $300.59 on Thursday. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 1.13. The stock has a 50 day moving average of $297.44 and a 200-day moving average of $284.68. The firm has a market capitalization of $19.32 billion, a PE ratio of 35.12, a price-to-earnings-growth ratio of 5.94 and a beta of 0.88. Essex Property Trust, Inc. has a 52 week low of $210.36 and a 52 week high of $317.73.

Essex Property Trust (NYSE:ESS - Get Free Report) last released its quarterly earnings data on Tuesday, October 29th. The real estate investment trust reported $1.84 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $3.88 by ($2.04). Essex Property Trust had a net margin of 31.55% and a return on equity of 9.72%. The company had revenue of $450.70 million for the quarter, compared to analyst estimates of $445.88 million. During the same quarter in the prior year, the firm earned $3.78 EPS. Analysts predict that Essex Property Trust, Inc. will post 15.56 EPS for the current 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 issued a $2.45 dividend. The ex-dividend date of this dividend was Monday, September 30th. This represents a $9.80 dividend on an annualized basis and a dividend yield of 3.26%. Essex Property Trust's dividend payout ratio (DPR) is presently 114.49%.

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 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 transaction, the director now owns 2,585 shares in the company, valued at approximately $775,500. The trade was a 48.69 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Anne Morrison sold 2,571 shares of the company's stock in a transaction dated 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 directly owns 2,321 shares of the company's stock, valued at $730,627.59. The trade was a 52.56 % 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 worth $6,399,663 in the last ninety days. 3.80% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on ESS shares. Wells Fargo & Company lifted their price target on shares of Essex Property Trust from $269.00 to $314.00 and gave the company an "equal weight" rating in a research report on Monday, August 26th. Royal Bank of Canada raised their price target on Essex Property Trust from $284.00 to $288.00 and gave the company an "outperform" rating in a research note on Thursday, August 1st. BNP Paribas started coverage on shares of Essex Property Trust in a research report on Wednesday, September 11th. They set an "outperform" rating and a $333.00 price objective for the company. Bank of America downgraded Essex Property Trust from a "buy" rating to a "neutral" rating and raised their price target for the stock from $307.00 to $321.00 in a research note on Tuesday, September 24th. Finally, Scotiabank raised their price objective on shares of Essex Property Trust from $309.00 to $329.00 and gave the stock a "sector outperform" rating in a research report on Monday, September 16th. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $297.00.

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.