Blackhawk Capital Partners LLC. Sells 179 Shares of Essex Property Trust, Inc. (NYSE:ESS)

Blackhawk Capital Partners LLC. reduced its holdings in Essex Property Trust, Inc. (NYSE:ESS) by 3.4% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 5,094 shares of the real estate investment trust’s stock after selling 179 shares during the quarter. Blackhawk Capital Partners LLC.’s holdings in Essex Property Trust were worth $1,505,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of the business. Bessemer Group Inc. lifted its position in Essex Property Trust by 29.6% in the 1st quarter. Bessemer Group Inc. now owns 578 shares of the real estate investment trust’s stock worth $141,000 after buying an additional 132 shares during the last quarter. EP Wealth Advisors LLC grew its holdings in shares of Essex Property Trust by 3.7% during the 1st quarter. EP Wealth Advisors LLC now owns 1,228 shares of the real estate investment trust’s stock valued at $301,000 after purchasing an additional 44 shares during the last quarter. Advisors Asset Management Inc. increased its stake in Essex Property Trust by 147.9% in the 1st quarter. Advisors Asset Management Inc. now owns 2,164 shares of the real estate investment trust’s stock worth $530,000 after purchasing an additional 1,291 shares during the period. Canada Pension Plan Investment Board lifted its position in Essex Property Trust by 8.7% in the first quarter. Canada Pension Plan Investment Board now owns 225,045 shares of the real estate investment trust’s stock valued at $55,093,000 after purchasing an additional 18,000 shares during the last quarter. Finally, Long Pond Capital LP purchased a new stake in shares of Essex Property Trust during the first quarter valued at approximately $8,385,000. Institutional investors own 96.51% of the company’s stock.

Insider Activity at Essex Property Trust

In other Essex Property Trust news, Director Amal M. Johnson sold 7,298 shares of the business’s stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $316.31, for a total transaction of $2,308,430.38. Following the sale, the director now owns 2,585 shares in the company, valued at approximately $817,661.35. The trade was a 73.84 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Angela L. Kleiman sold 8,080 shares of the business’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $315.10, for a total transaction of $2,546,008.00. Following the sale, the chief executive officer now directly owns 9,494 shares of the company’s stock, valued at $2,991,559.40. This represents a 45.98 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 20,402 shares of company stock valued at $6,399,663. 3.80% of the stock is owned by corporate insiders.

Essex Property Trust Stock Performance

NYSE ESS opened at $300.59 on Thursday. The company’s 50 day moving average is $297.44 and its 200-day moving average is $284.68. Essex Property Trust, Inc. has a 12-month low of $210.36 and a 12-month high of $317.73. The firm has a market cap of $19.32 billion, a P/E ratio of 35.12, a price-to-earnings-growth ratio of 5.94 and a beta of 0.88. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 1.13.

Essex Property Trust (NYSE:ESS) last issued its quarterly earnings data on Tuesday, October 29th. The real estate investment trust reported $1.84 EPS for the quarter, missing the consensus estimate of $3.88 by ($2.04). Essex Property Trust had a return on equity of 9.72% and a net margin of 31.55%. The company had revenue of $450.70 million during the quarter, compared to the consensus estimate of $445.88 million. During the same quarter last year, the company posted $3.78 earnings per share. Sell-side analysts predict that Essex Property Trust, Inc. will post 15.56 earnings per share for the current year.

Essex Property Trust Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Monday, September 30th were issued a $2.45 dividend. The ex-dividend date was Monday, September 30th. This represents a $9.80 dividend on an annualized basis and a yield of 3.26%. Essex Property Trust’s dividend payout ratio is currently 114.49%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Evercore ISI boosted their price objective on shares of Essex Property Trust from $283.00 to $287.00 and gave the company an “in-line” rating in a research report on Monday, September 16th. Scotiabank upped their price target on Essex Property Trust from $309.00 to $329.00 and gave the stock a “sector outperform” rating in a research note on Monday, September 16th. Truist Financial lifted their target price on shares of Essex Property Trust from $282.00 to $294.00 and gave the stock a “hold” rating in a report on Tuesday, August 27th. Deutsche Bank Aktiengesellschaft upped their price target on Essex Property Trust from $240.00 to $308.00 and gave the company a “hold” rating in a report on Tuesday, September 10th. Finally, Wells Fargo & Company raised their target price on shares of Essex Property Trust from $269.00 to $314.00 and gave the stock an “equal weight” rating in a report on Monday, August 26th. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Essex Property Trust presently has an average rating of “Hold” and an average price target of $297.00.

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.