Revisor Wealth Management LLC Sells 283 Shares of Essex Property Trust, Inc. (NYSE:ESS)

Revisor Wealth Management LLC reduced its holdings in shares of Essex Property Trust, Inc. (NYSE:ESS) by 25.8% during the fourth quarter, HoldingsChannel.com reports. The fund owned 816 shares of the real estate investment trust’s stock after selling 283 shares during the quarter. Revisor Wealth Management LLC’s holdings in Essex Property Trust were worth $233,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Assetmark Inc. grew its position in shares of Essex Property Trust by 124.0% in the fourth quarter. Assetmark Inc. now owns 224 shares of the real estate investment trust’s stock valued at $64,000 after purchasing an additional 124 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd boosted its holdings in shares of Essex Property Trust by 5.3% in the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 19,656 shares of the real estate investment trust’s stock worth $5,611,000 after purchasing an additional 986 shares in the last quarter. Raymond James Financial Inc. purchased a new position in shares of Essex Property Trust in the 4th quarter worth about $7,027,000. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Essex Property Trust by 10.8% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 15,527 shares of the real estate investment trust’s stock worth $4,408,000 after purchasing an additional 1,516 shares in the last quarter. Finally, Vert Asset Management LLC boosted its holdings in Essex Property Trust by 9.1% during the 4th quarter. Vert Asset Management LLC now owns 28,367 shares of the real estate investment trust’s stock valued at $8,097,000 after acquiring an additional 2,366 shares during the period. 96.51% of the stock is currently owned by institutional investors.

Essex Property Trust Stock Performance

ESS stock opened at $269.80 on Friday. The company has a market cap of $17.37 billion, a P/E ratio of 23.38, a price-to-earnings-growth ratio of 6.84 and a beta of 0.78. Essex Property Trust, Inc. has a 1 year low of $243.85 and a 1 year high of $317.73. The company has a debt-to-equity ratio of 1.15, a current ratio of 1.14 and a quick ratio of 1.14. The stock’s fifty day moving average price is $283.01 and its 200-day moving average price is $289.67.

Essex Property Trust (NYSE:ESS) last released its earnings results on Tuesday, April 29th. The real estate investment trust reported $3.97 earnings per share for the quarter, beating the consensus estimate of $3.92 by $0.05. The company had revenue of $464.58 million for the quarter, compared to the consensus estimate of $458.03 million. Essex Property Trust had a return on equity of 13.05% and a net margin of 41.79%. During the same period in the previous year, the business earned $3.83 earnings per share. On average, equities analysts forecast that Essex Property Trust, Inc. will post 15.96 earnings per share for the current year.

Essex Property Trust Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 30th will be given a dividend of $2.57 per share. The ex-dividend date of this dividend is Monday, June 30th. This represents a $10.28 annualized dividend and a yield of 3.81%. Essex Property Trust’s dividend payout ratio (DPR) is presently 98.37%.

Insider Buying and Selling at Essex Property Trust

In other news, Director Keith R. Guericke sold 7,298 shares of Essex Property Trust stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $315.00, for a total value of $2,298,870.00. Following the sale, the director now directly owns 16,118 shares of the company’s stock, valued at approximately $5,077,170. The trade was a 31.17% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Mary Kasaris sold 2,800 shares of Essex Property Trust stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $300.80, for a total value of $842,240.00. Following the completion of the sale, the director now directly owns 1,755 shares in the company, valued at $527,904. This trade represents a 61.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 21,345 shares of company stock valued at $6,682,539 over the last ninety days. 3.46% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several brokerages recently weighed in on ESS. Scotiabank increased their target price on Essex Property Trust from $329.00 to $344.00 and gave the company a “sector outperform” rating in a report on Monday, May 12th. Royal Bank of Canada decreased their target price on Essex Property Trust from $311.00 to $309.00 and set an “outperform” rating for the company in a research report on Thursday, May 1st. Evercore ISI increased their target price on Essex Property Trust from $297.00 to $302.00 and gave the stock an “in-line” rating in a research report on Monday, February 10th. JMP Securities reaffirmed a “market perform” rating on shares of Essex Property Trust in a research report on Thursday, February 6th. Finally, Mizuho reduced their price objective on Essex Property Trust from $314.00 to $293.00 and set an “outperform” rating for the company in a research report on Friday. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, Essex Property Trust currently has an average rating of “Hold” and a consensus price target of $311.78.

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 252 apartment communities comprising approximately 62,000 apartment homes with an additional property in active development.