Essex Property Trust, Inc. (NYSE:ESS) Shares Sold by Wellington Management Group LLP

Wellington Management Group LLP trimmed its holdings in shares of Essex Property Trust, Inc. (NYSE:ESS - Free Report) by 4.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 612,104 shares of the real estate investment trust's stock after selling 30,852 shares during the period. Wellington Management Group LLP owned about 0.95% of Essex Property Trust worth $174,719,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in ESS. Kestra Investment Management LLC purchased a new position in shares of Essex Property Trust in the 4th quarter valued at $25,000. UMB Bank n.a. boosted its position in Essex Property Trust by 37.5% during the fourth quarter. UMB Bank n.a. now owns 154 shares of the real estate investment trust's stock valued at $44,000 after purchasing an additional 42 shares in the last quarter. Newbridge Financial Services Group Inc. purchased a new position in Essex Property Trust in the fourth quarter valued at about $45,000. Jones Financial Companies Lllp raised its holdings in Essex Property Trust by 486.8% in the fourth quarter. Jones Financial Companies Lllp now owns 223 shares of the real estate investment trust's stock worth $64,000 after purchasing an additional 185 shares in the last quarter. Finally, Assetmark Inc. lifted its position in shares of Essex Property Trust by 124.0% during the fourth quarter. Assetmark Inc. now owns 224 shares of the real estate investment trust's stock valued at $64,000 after buying an additional 124 shares during the last quarter. Hedge funds and other institutional investors own 96.51% of the company's stock.

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Essex Property Trust Stock Performance

NYSE ESS traded down $8.42 on Monday, reaching $262.61. 708,841 shares of the company's stock traded hands, compared to its average volume of 392,640. Essex Property Trust, Inc. has a fifty-two week low of $230.90 and a fifty-two week high of $317.73. The company has a debt-to-equity ratio of 1.15, a quick ratio of 1.14 and a current ratio of 1.14. The firm has a market cap of $16.89 billion, a price-to-earnings ratio of 22.76, a P/E/G ratio of 6.84 and a beta of 0.78. The stock has a 50 day moving average price of $295.76 and a 200-day moving average price of $293.72.

Essex Property Trust (NYSE:ESS - Get Free Report) last issued its quarterly earnings data on Tuesday, February 4th. The real estate investment trust reported $3.92 earnings per share (EPS) for the quarter, beating 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%. Equities research analysts predict that Essex Property Trust, Inc. will post 15.96 EPS for the current fiscal year.

Essex Property Trust Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be given a $2.57 dividend. This represents a $10.28 annualized dividend and a yield of 3.91%. The ex-dividend date is Monday, March 31st. This is a positive change from Essex Property Trust's previous quarterly dividend of $2.45. Essex Property Trust's dividend payout ratio is currently 89.08%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on ESS. JPMorgan Chase & Co. downgraded shares of Essex Property Trust from a "neutral" rating to an "underweight" rating and lifted their price objective for the stock from $297.00 to $303.00 in a research report on Tuesday, December 17th. Royal Bank of Canada lifted their price target on shares of Essex Property Trust from $302.00 to $315.00 and gave the stock an "outperform" rating in a report on Thursday, February 6th. BMO Capital Markets upgraded Essex Property Trust from a "market perform" rating to an "outperform" rating and decreased their price objective for the company from $323.00 to $310.00 in a report on Monday, January 13th. Wells Fargo & Company dropped their target price on Essex Property Trust from $314.00 to $305.00 and set an "equal weight" rating on the stock in a research note on Friday, January 24th. Finally, Deutsche Bank Aktiengesellschaft raised Essex Property Trust from a "hold" rating to a "buy" rating and upped their target price for the company from $308.00 to $310.00 in a research report on Tuesday, January 21st. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $307.16.

Insider Transactions at Essex Property Trust

In other Essex Property Trust news, Director Mary Kasaris sold 2,800 shares of the company's stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $300.80, for a total value of $842,240.00. Following the completion of the transaction, the director now 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 sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Barbara Pak sold 6,318 shares of the firm's stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $314.79, for a total value of $1,988,843.22. Following the sale, the chief financial officer now owns 8,654 shares in the company, valued at $2,724,192.66. This trade represents a 42.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 21,345 shares of company stock valued at $6,682,539 in the last 90 days. 3.80% of the stock is currently owned by company insiders.

Essex Property Trust Company 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.