Neuberger Berman Group LLC Has $30.54 Million Position in Essex Property Trust Inc (ESS)

Neuberger Berman Group LLC grew its stake in Essex Property Trust Inc (NYSE:ESS) by 11.1% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 120,213 shares of the real estate investment trust’s stock after buying an additional 12,056 shares during the quarter. Neuberger Berman Group LLC owned 0.18% of Essex Property Trust worth $30,538,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. raised its holdings in Essex Property Trust by 0.8% in the 2nd quarter. Vanguard Group Inc. now owns 11,496,906 shares of the real estate investment trust’s stock worth $2,957,809,000 after purchasing an additional 92,531 shares during the period. BlackRock Inc. raised its holdings in Essex Property Trust by 1.5% in the 2nd quarter. BlackRock Inc. now owns 6,573,361 shares of the real estate investment trust’s stock worth $1,691,128,000 after purchasing an additional 94,331 shares during the period. State Street Corp raised its holdings in Essex Property Trust by 0.7% in the 2nd quarter. State Street Corp now owns 4,744,926 shares of the real estate investment trust’s stock worth $1,220,731,000 after purchasing an additional 30,726 shares during the period. Principal Financial Group Inc. raised its holdings in Essex Property Trust by 3.6% in the 3rd quarter. Principal Financial Group Inc. now owns 2,328,165 shares of the real estate investment trust’s stock worth $591,424,000 after purchasing an additional 80,573 shares during the period. Finally, Northern Trust Corp raised its holdings in Essex Property Trust by 3.6% in the 2nd quarter. Northern Trust Corp now owns 1,094,493 shares of the real estate investment trust’s stock worth $281,580,000 after purchasing an additional 37,953 shares during the period. 97.14% of the stock is owned by institutional investors and hedge funds.

A number of research firms recently weighed in on ESS. Sandler O’Neill set a $250.00 price target on Essex Property Trust and gave the stock a “hold” rating in a report on Friday. BMO Capital Markets reiterated a “hold” rating and set a $250.00 price objective on shares of Essex Property Trust in a research note on Tuesday. Raymond James Financial reiterated an “underperform” rating on shares of Essex Property Trust in a research note on Monday, January 8th. Mitsubishi UFJ Financial Group upgraded Essex Property Trust from a “neutral” rating to an “overweight” rating in a research note on Wednesday, January 3rd. Finally, Citigroup upgraded Essex Property Trust to an “overweight” rating and boosted their price objective for the stock from $253.00 to $278.00 in a research note on Wednesday, January 3rd. They noted that the move was a valuation call. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $269.41.

In other news, CEO Michael J. Schall sold 334 shares of the company’s stock in a transaction that occurred on Friday, November 10th. The stock was sold at an average price of $255.50, for a total value of $85,337.00. Following the completion of the sale, the chief executive officer now directly owns 45,097 shares in the company, valued at $11,522,283.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Michael J. Schall sold 4,801 shares of the company’s stock in a transaction that occurred on Monday, December 11th. The shares were sold at an average price of $247.37, for a total value of $1,187,623.37. Following the completion of the sale, the chief executive officer now owns 49,564 shares of the company’s stock, valued at $12,260,646.68. The disclosure for this sale can be found here. Insiders sold 9,687 shares of company stock valued at $2,408,772 over the last 90 days. Company insiders own 3.30% of the company’s stock.

Essex Property Trust Inc (ESS) traded down $5.27 during mid-day trading on Friday, hitting $227.10. The stock had a trading volume of 435,730 shares, compared to its average volume of 388,197. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.88. The stock has a market capitalization of $14,990.00, a price-to-earnings ratio of 28.46, a PEG ratio of 3.00 and a beta of 0.50. Essex Property Trust Inc has a 1-year low of $218.41 and a 1-year high of $270.04.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 16th. Stockholders of record on Friday, December 29th will be given a $1.75 dividend. The ex-dividend date of this dividend is Thursday, December 28th. This represents a $7.00 dividend on an annualized basis and a dividend yield of 3.08%. Essex Property Trust’s dividend payout ratio (DPR) is presently 87.72%.

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Essex Property Trust Profile

Essex Property Trust, Inc is a self-administered and self-managed real estate investment trust. The Company is engaged primarily in the ownership, operation, management, acquisition, development and redevelopment of predominantly apartment communities, located along the West Coast. Its segments include Southern California, Northern California, Seattle Metro and Other real estate assets.

Institutional Ownership by Quarter for Essex Property Trust (NYSE:ESS)

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