Edgestream Partners L.P. Sells 26,597 Shares of Essex Property Trust, Inc. $ESS

Edgestream Partners L.P. lessened its holdings in shares of Essex Property Trust, Inc. (NYSE:ESS) by 95.0% during the 1st quarter, Holdings Channel.com reports. The fund owned 1,402 shares of the real estate investment trust’s stock after selling 26,597 shares during the period. Edgestream Partners L.P.’s holdings in Essex Property Trust were worth $339,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Dorsey & Whitney Trust CO LLC grew its position in Essex Property Trust by 5.2% in the fourth quarter. Dorsey & Whitney Trust CO LLC now owns 814 shares of the real estate investment trust’s stock worth $213,000 after acquiring an additional 40 shares in the last quarter. Segment Wealth Management LLC increased its stake in shares of Essex Property Trust by 5.1% during the 4th quarter. Segment Wealth Management LLC now owns 913 shares of the real estate investment trust’s stock worth $239,000 after purchasing an additional 44 shares during the last quarter. Norinchukin Bank The raised its holdings in shares of Essex Property Trust by 0.6% during the 3rd quarter. Norinchukin Bank The now owns 6,957 shares of the real estate investment trust’s stock valued at $1,862,000 after purchasing an additional 44 shares in the last quarter. Signaturefd LLC raised its holdings in shares of Essex Property Trust by 11.3% during the 4th quarter. Signaturefd LLC now owns 445 shares of the real estate investment trust’s stock valued at $116,000 after purchasing an additional 45 shares in the last quarter. Finally, Tokio Marine Asset Management Co. Ltd. lifted its stake in shares of Essex Property Trust by 2.0% in the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 2,537 shares of the real estate investment trust’s stock valued at $664,000 after purchasing an additional 50 shares during the last quarter. 96.51% of the stock is currently owned by institutional investors and hedge funds.

Essex Property Trust Price Performance

Shares of Essex Property Trust stock opened at $287.65 on Thursday. The firm has a fifty day simple moving average of $287.53 and a 200-day simple moving average of $267.05. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 1.22. Essex Property Trust, Inc. has a 1-year low of $238.46 and a 1-year high of $303.35. The stock has a market capitalization of $18.49 billion, a price-to-earnings ratio of 44.74, a PEG ratio of 10.53 and a beta of 0.69.

Essex Property Trust Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were given a dividend of $2.59 per share. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $10.36 dividend on an annualized basis and a yield of 3.6%. Essex Property Trust’s payout ratio is currently 161.12%.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on ESS. UBS Group set a $290.00 price objective on shares of Essex Property Trust in a report on Thursday, June 18th. Citizens Jmp raised shares of Essex Property Trust from a “market perform” rating to an “outperform” rating and set a $330.00 target price on the stock in a research report on Friday, July 31st. Wall Street Zen lowered Essex Property Trust from a “hold” rating to a “sell” rating in a report on Saturday, August 1st. Barclays boosted their price target on Essex Property Trust from $277.00 to $296.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 14th. Finally, Truist Financial upped their price target on Essex Property Trust from $273.00 to $286.00 and gave the stock a “hold” rating in a research note on Wednesday, May 27th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $303.99.

Insiders Place Their Bets

In other Essex Property Trust news, Director Mary Kasaris sold 600 shares of the company’s stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $279.45, for a total transaction of $167,670.00. Following the completion of the sale, the director directly owned 2,394 shares in the company, valued at $669,003.30. This represents a 20.04% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 3.47% of the stock is currently owned by corporate insiders.

About Essex Property Trust

Essex Property Trust, Inc (NYSE: ESS) is a publicly traded real estate investment trust that acquires, develops, owns and operates multifamily residential properties. The company focuses on market-rate apartment communities and delivers a full suite of property services including leasing, resident services, asset management, and capital improvement programs designed to preserve and enhance long‑term property values.

Essex concentrates its portfolio in West Coast markets, with a significant presence in California and the Pacific Northwest.