Two Sigma Securities LLC Purchases New Position in Essex Property Trust (ESS)

Two Sigma Securities LLC acquired a new position in shares of Essex Property Trust (NYSE:ESS) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 1,098 shares of the real estate investment trust’s stock, valued at approximately $265,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ESS. BlackRock Inc. increased its holdings in shares of Essex Property Trust by 1.4% in the fourth quarter. BlackRock Inc. now owns 6,812,160 shares of the real estate investment trust’s stock valued at $1,644,253,000 after purchasing an additional 94,542 shares in the last quarter. Cbre Clarion Securities LLC increased its holdings in shares of Essex Property Trust by 6.1% in the fourth quarter. Cbre Clarion Securities LLC now owns 1,091,140 shares of the real estate investment trust’s stock valued at $263,368,000 after purchasing an additional 62,762 shares in the last quarter. Bank of Montreal Can increased its holdings in shares of Essex Property Trust by 5.4% in the fourth quarter. Bank of Montreal Can now owns 1,034,873 shares of the real estate investment trust’s stock valued at $249,787,000 after purchasing an additional 53,102 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Essex Property Trust by 2.0% in the third quarter. Dimensional Fund Advisors LP now owns 940,078 shares of the real estate investment trust’s stock valued at $238,806,000 after purchasing an additional 18,322 shares in the last quarter. Finally, Deutsche Bank AG increased its holdings in shares of Essex Property Trust by 17.5% in the fourth quarter. Deutsche Bank AG now owns 847,173 shares of the real estate investment trust’s stock valued at $204,477,000 after purchasing an additional 125,907 shares in the last quarter. 97.28% of the stock is owned by institutional investors.

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In related news, insider Glenn Olnick sold 1,600,000 shares of the firm’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $0.10, for a total transaction of $160,000.00. Also, Director Gary P. Martin sold 500 shares of the firm’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $223.43, for a total transaction of $111,715.00. Following the sale, the director now owns 5,736 shares in the company, valued at $1,281,594.48. The disclosure for this sale can be found here. Company insiders own 3.30% of the company’s stock.

Shares of NYSE ESS traded up $0.88 during midday trading on Friday, reaching $242.38. 475,080 shares of the stock were exchanged, compared to its average volume of 376,999. The stock has a market cap of $16,006.78, a price-to-earnings ratio of 20.35, a P/E/G ratio of 3.30 and a beta of 0.39. Essex Property Trust has a 12 month low of $214.03 and a 12 month high of $270.04. The company has a quick ratio of 1.27, a current ratio of 1.27 and a debt-to-equity ratio of 0.89.

Essex Property Trust (NYSE:ESS) last announced its quarterly earnings results on Wednesday, February 7th. The real estate investment trust reported $3.01 earnings per share for the quarter, topping analysts’ consensus estimates of $3.00 by $0.01. The company had revenue of $345.06 million for the quarter, compared to analysts’ expectations of $346.50 million. Essex Property Trust had a net margin of 31.75% and a return on equity of 6.76%. During the same period last year, the firm posted $2.85 earnings per share. research analysts anticipate that Essex Property Trust will post 12.42 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 16th. Investors of record on Thursday, March 29th will be issued a dividend of $1.86 per share. This represents a $7.44 dividend on an annualized basis and a dividend yield of 3.07%. This is a positive change from Essex Property Trust’s previous quarterly dividend of $1.75. The ex-dividend date of this dividend is Wednesday, March 28th. Essex Property Trust’s dividend payout ratio (DPR) is presently 62.47%.

A number of brokerages recently weighed in on ESS. BTIG Research raised shares of Essex Property Trust from a “neutral” rating to a “buy” rating and set a $273.00 price target for the company in a report on Wednesday, December 13th. Citigroup raised shares of Essex Property Trust from a “neutral” rating to a “buy” rating and set a $280.00 price objective on the stock in a research note on Thursday, December 14th. Evercore ISI raised shares of Essex Property Trust from an “in-line” rating to an “outperform” rating and set a $274.00 price objective on the stock in a research note on Monday, December 11th. SunTrust Banks cut shares of Essex Property Trust from a “buy” rating to a “hold” rating and raised their price objective for the company from $241.99 to $253.00 in a research note on Tuesday, March 20th. They noted that the move was a valuation call. Finally, JMP Securities reaffirmed a “hold” rating on shares of Essex Property Trust in a research note on Wednesday, December 27th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $264.25.

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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 247 apartment communities with an additional 7 properties in various stages of active development.

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

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