Bp Plc Reduces Stock Holdings in Essex Property Trust, Inc. (NYSE:ESS)


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Bp Plc cut its stake in Essex Property Trust, Inc. (NYSE:ESS) by 38.9% in the fourth quarter, Holdings Channel reports. The institutional investor owned 3,546 shares of the real estate investment trust’s stock after selling 2,254 shares during the period. Bp Plc’s holdings in Essex Property Trust were worth $842,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Perigon Wealth Management LLC purchased a new position in Essex Property Trust during the fourth quarter worth $29,000. NEXT Financial Group Inc bought a new stake in shares of Essex Property Trust in the 3rd quarter worth about $40,000. Private Capital Group LLC boosted its stake in shares of Essex Property Trust by 26.7% during the 4th quarter. Private Capital Group LLC now owns 242 shares of the real estate investment trust’s stock worth $58,000 after purchasing an additional 51 shares during the period. Planned Solutions Inc. bought a new position in Essex Property Trust during the 4th quarter valued at about $71,000. Finally, IFP Advisors Inc grew its holdings in Essex Property Trust by 130.0% during the 4th quarter. IFP Advisors Inc now owns 322 shares of the real estate investment trust’s stock valued at $76,000 after purchasing an additional 182 shares during the last quarter. Institutional investors own 95.40% of the company’s stock.

Shares of Essex Property Trust stock opened at $264.12 on Tuesday. The company has a debt-to-equity ratio of 1.05, a current ratio of 3.14 and a quick ratio of 3.14. The stock has a market cap of $17.22 billion, a price-to-earnings ratio of 28.93, a PEG ratio of 7.69 and a beta of 0.79. The firm’s 50-day moving average is $247.80 and its two-hundred day moving average is $230.93. Essex Property Trust, Inc. has a 1 year low of $175.81 and a 1 year high of $329.69.

Essex Property Trust (NYSE:ESS) last posted its quarterly earnings results on Thursday, February 4th. The real estate investment trust reported $1.47 EPS for the quarter, missing the consensus estimate of $3.12 by ($1.65). Essex Property Trust had a net margin of 39.89% and a return on equity of 9.46%. During the same quarter in the prior year, the business posted $1.95 earnings per share. On average, equities analysts expect that Essex Property Trust, Inc. will post 12.91 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 15th. Investors of record on Wednesday, March 31st will be paid a $2.09 dividend. This is an increase from Essex Property Trust’s previous quarterly dividend of $2.08. The ex-dividend date of this dividend is Tuesday, March 30th. This represents a $8.36 dividend on an annualized basis and a yield of 3.17%. Essex Property Trust’s payout ratio is 62.11%.

Several brokerages have issued reports on ESS. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell boosted their target price on Essex Property Trust from $235.00 to $250.00 in a research report on Tuesday, December 15th. Morgan Stanley boosted their price objective on Essex Property Trust from $215.00 to $279.00 and gave the company an “equal weight” rating in a report on Friday, November 20th. Raymond James reaffirmed a “sell” rating on shares of Essex Property Trust in a research report on Tuesday. BMO Capital Markets upgraded Essex Property Trust from an “underperform” rating to a “market perform” rating and lifted their target price for the stock from $245.00 to $255.00 in a research report on Thursday, December 3rd. Finally, Smith Barney Citigroup boosted their target price on shares of Essex Property Trust from $235.00 to $250.00 in a research note on Tuesday, December 15th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and seven have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $253.25.

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

Read More: What are Institutional Investors?

Want to see what other hedge funds are holding ESS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Essex Property Trust, Inc. (NYSE:ESS).

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

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