TIAA Trust National Association Sells 76 Shares of Essex Property Trust, Inc. (NYSE:ESS)

TIAA Trust National Association trimmed its position in shares of Essex Property Trust, Inc. (NYSE:ESS) by 3.3% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,243 shares of the real estate investment trust’s stock after selling 76 shares during the quarter. TIAA Trust National Association’s holdings in Essex Property Trust were worth $549,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Lindbrook Capital LLC lifted its holdings in shares of Essex Property Trust by 111.5% during the 4th quarter. Lindbrook Capital LLC now owns 110 shares of the real estate investment trust’s stock valued at $27,000 after buying an additional 58 shares during the period. Venturi Wealth Management LLC raised its holdings in Essex Property Trust by 112.3% in the 1st quarter. Venturi Wealth Management LLC now owns 138 shares of the real estate investment trust’s stock worth $34,000 after purchasing an additional 73 shares during the period. Vima LLC bought a new position in Essex Property Trust in the 4th quarter worth $40,000. Bear Mountain Capital Inc. bought a new position in Essex Property Trust in the 4th quarter worth $55,000. Finally, Blue Trust Inc. raised its holdings in Essex Property Trust by 645.2% in the 4th quarter. Blue Trust Inc. now owns 231 shares of the real estate investment trust’s stock worth $57,000 after purchasing an additional 200 shares during the period. 96.51% of the stock is owned by institutional investors.

Essex Property Trust Trading Up 0.2 %

Shares of NYSE:ESS traded up $0.65 during trading on Friday, reaching $284.79. The company’s stock had a trading volume of 347,860 shares, compared to its average volume of 328,219. The company has a current ratio of 3.19, a quick ratio of 3.19 and a debt-to-equity ratio of 1.14. Essex Property Trust, Inc. has a 12 month low of $203.85 and a 12 month high of $289.08. The firm’s 50 day simple moving average is $270.60 and its two-hundred day simple moving average is $250.74. The stock has a market capitalization of $18.29 billion, a PE ratio of 34.82, a price-to-earnings-growth ratio of 3.98 and a beta of 0.86.

Essex Property Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 24th. Shareholders of record on Friday, June 28th will be paid a $2.45 dividend. This represents a $9.80 annualized dividend and a yield of 3.44%. The ex-dividend date is Friday, June 28th. Essex Property Trust’s payout ratio is currently 119.80%.

Insiders Place Their Bets

In other Essex Property Trust news, CEO Angela L. Kleiman sold 3,780 shares of the firm’s stock in a transaction dated Friday, June 21st. The shares were sold at an average price of $278.27, for a total value of $1,051,860.60. Following the completion of the sale, the chief executive officer now owns 9,494 shares of the company’s stock, valued at $2,641,895.38. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, Director Keith R. Guericke sold 10,000 shares of Essex Property Trust stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $274.57, for a total transaction of $2,745,700.00. Following the completion of the sale, the director now owns 16,118 shares of the company’s stock, valued at $4,425,519.26. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Angela L. Kleiman sold 3,780 shares of Essex Property Trust stock in a transaction that occurred on Friday, June 21st. The shares were sold at an average price of $278.27, for a total transaction of $1,051,860.60. Following the sale, the chief executive officer now directly owns 9,494 shares of the company’s stock, valued at approximately $2,641,895.38. The disclosure for this sale can be found here. 3.80% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on ESS shares. Morgan Stanley raised their target price on Essex Property Trust from $230.00 to $250.00 and gave the stock an “equal weight” rating in a report on Tuesday, May 14th. Evercore ISI raised their target price on Essex Property Trust from $254.00 to $260.00 and gave the stock an “in-line” rating in a report on Tuesday, July 9th. Wells Fargo & Company raised their target price on Essex Property Trust from $232.00 to $269.00 and gave the stock an “equal weight” rating in a report on Friday, May 31st. Stifel Nicolaus increased their price target on Essex Property Trust from $243.50 to $267.00 and gave the stock a “hold” rating in a research note on Tuesday, July 9th. Finally, JPMorgan Chase & Co. increased their price target on Essex Property Trust from $244.00 to $265.00 and gave the stock a “neutral” rating in a research note on Monday, June 17th. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $262.15.

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.