Bokf Na Reduces Stake in Essex Property Trust Inc (ESS)
Bokf Na lessened its position in Essex Property Trust Inc (NYSE:ESS) by 1.8% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,407 shares of the real estate investment trust’s stock after selling 45 shares during the period. Bokf Na’s holdings in Essex Property Trust were worth $591,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Ironwood Financial llc bought a new stake in shares of Essex Property Trust in the 4th quarter worth $25,000. Acadian Asset Management LLC bought a new stake in shares of Essex Property Trust in the 4th quarter worth $87,000. Capital Guardian Trust Co. bought a new stake in shares of Essex Property Trust in the 3rd quarter worth $113,000. Loeb Partners Corp bought a new stake in shares of Essex Property Trust in the 4th quarter worth $123,000. Finally, Girard Partners LTD. acquired a new stake in shares of Essex Property Trust during the third quarter worth $184,000. 96.09% of the stock is currently owned by institutional investors.
Shares of ESS stock opened at $285.26 on Thursday. Essex Property Trust Inc has a 1-year low of $226.22 and a 1-year high of $291.23. The company has a current ratio of 1.76, a quick ratio of 1.76 and a debt-to-equity ratio of 0.88. The firm has a market cap of $18.77 billion, a PE ratio of 22.73, a price-to-earnings-growth ratio of 3.81 and a beta of 0.47.
The firm also recently declared a quarterly dividend, which will be paid on Friday, April 12th. Stockholders of record on Friday, March 29th will be issued a dividend of $1.95 per share. This is an increase from Essex Property Trust’s previous quarterly dividend of $1.86. The ex-dividend date of this dividend is Thursday, March 28th. This represents a $7.80 dividend on an annualized basis and a dividend yield of 2.73%. Essex Property Trust’s payout ratio is currently 59.19%.
In other Essex Property Trust news, insider John D. Eudy sold 5,000 shares of the business’s stock in a transaction dated Friday, December 21st. The stock was sold at an average price of $256.98, for a total value of $1,284,900.00. Following the transaction, the insider now owns 15,455 shares in the company, valued at $3,971,625.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider John D. Eudy sold 3,750 shares of the business’s stock in a transaction dated Thursday, February 14th. The shares were sold at an average price of $276.06, for a total value of $1,035,225.00. Following the completion of the transaction, the insider now owns 14,205 shares in the company, valued at approximately $3,921,432.30. The disclosure for this sale can be found here. Insiders have sold 19,184 shares of company stock worth $5,314,973 in the last quarter. 3.40% of the stock is currently owned by corporate insiders.
A number of equities research analysts have recently issued reports on ESS shares. JPMorgan Chase & Co. lowered Essex Property Trust from an “overweight” rating to a “neutral” rating in a research report on Wednesday, December 19th. Barclays raised Essex Property Trust from a “neutral” rating to a “positive” rating in a research report on Monday, February 4th. Janney Montgomery Scott raised Essex Property Trust from a “neutral” rating to a “buy” rating and set a $255.60 target price on the stock in a research report on Wednesday, December 19th. Jefferies Financial Group boosted their target price on Essex Property Trust to $262.00 in a research report on Sunday, December 2nd. Finally, ValuEngine raised Essex Property Trust from a “hold” rating to a “buy” rating in a research report on Wednesday, November 21st. Nine analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $276.77.
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Essex Property Trust 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 245 apartment communities with an additional 6 properties in various stages of active development.
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