Essex Property Trust, Inc. (NYSE:ESS) Shares Sold by Moody National Bank Trust Division

Moody National Bank Trust Division trimmed its position in Essex Property Trust, Inc. (NYSE:ESSGet Rating) by 62.5% in the second quarter, Holdings Channel reports. The firm owned 1,679 shares of the real estate investment trust’s stock after selling 2,797 shares during the quarter. Moody National Bank Trust Division’s holdings in Essex Property Trust were worth $439,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. First Affirmative Financial Network grew its stake in Essex Property Trust by 5.1% in the first quarter. First Affirmative Financial Network now owns 902 shares of the real estate investment trust’s stock worth $311,000 after purchasing an additional 44 shares in the last quarter. State of Michigan Retirement System boosted its stake in Essex Property Trust by 0.5% in the first quarter. State of Michigan Retirement System now owns 17,576 shares of the real estate investment trust’s stock valued at $6,072,000 after acquiring an additional 92 shares during the period. Tobam boosted its stake in Essex Property Trust by 65.9% in the first quarter. Tobam now owns 370 shares of the real estate investment trust’s stock valued at $128,000 after acquiring an additional 147 shares during the period. Ensign Peak Advisors Inc boosted its stake in Essex Property Trust by 102.5% in the fourth quarter. Ensign Peak Advisors Inc now owns 28,691 shares of the real estate investment trust’s stock valued at $10,107,000 after acquiring an additional 14,523 shares during the period. Finally, Waratah Capital Advisors Ltd. boosted its stake in Essex Property Trust by 38.5% in the fourth quarter. Waratah Capital Advisors Ltd. now owns 10,571 shares of the real estate investment trust’s stock valued at $3,723,000 after acquiring an additional 2,938 shares during the period. 91.57% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have commented on ESS shares. Citigroup lifted their target price on Essex Property Trust to $295.00 in a research note on Tuesday, August 9th. Morgan Stanley decreased their target price on Essex Property Trust from $313.00 to $270.00 and set an “equal weight” rating for the company in a research note on Friday, July 15th. Barclays cut their price target on Essex Property Trust from $310.00 to $300.00 and set an “underweight” rating on the stock in a report on Thursday. BMO Capital Markets cut Essex Property Trust from an “outperform” rating to a “market perform” rating and cut their price target for the company from $378.00 to $320.00 in a report on Tuesday, May 31st. Finally, Credit Suisse Group started coverage on Essex Property Trust in a report on Wednesday, June 22nd. They set an “underperform” rating and a $247.00 price target on the stock. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $309.29.

Essex Property Trust Price Performance

Shares of NYSE:ESS opened at $261.06 on Monday. Essex Property Trust, Inc. has a 12 month low of $250.62 and a 12 month high of $363.36. The stock has a market cap of $17.00 billion, a price-to-earnings ratio of 44.17, a PEG ratio of 2.81 and a beta of 0.79. The stock’s 50 day moving average price is $275.97 and its 200 day moving average price is $297.48. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.30 and a quick ratio of 1.30.

Essex Property Trust Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, October 14th. Investors of record on Friday, September 30th will be issued a dividend of $2.20 per share. The ex-dividend date is Thursday, September 29th. This represents a $8.80 annualized dividend and a yield of 3.37%. Essex Property Trust’s payout ratio is 148.90%.

Essex Property Trust Profile

(Get Rating)

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 246 apartment communities comprising approximately 60,000 apartment homes with an additional 6 properties in various stages of active development.

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

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