Hill Winds Capital LP Buys New Shares in Essex Property Trust Inc (NYSE:ESS)

Hill Winds Capital LP bought a new position in shares of Essex Property Trust Inc (NYSE:ESS) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 11,500 shares of the real estate investment trust’s stock, valued at approximately $3,460,000. Essex Property Trust makes up 2.3% of Hill Winds Capital LP’s holdings, making the stock its 19th biggest holding.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Valeo Financial Advisors LLC acquired a new position in Essex Property Trust in the 4th quarter valued at approximately $30,000. HWG Holdings LP bought a new stake in shares of Essex Property Trust in the 3rd quarter worth approximately $31,000. Prime Capital Investment Advisors LLC bought a new stake in shares of Essex Property Trust in the 3rd quarter worth approximately $46,000. AdvisorNet Financial Inc grew its holdings in shares of Essex Property Trust by 1,241.7% during the 3rd quarter. AdvisorNet Financial Inc now owns 161 shares of the real estate investment trust’s stock worth $53,000 after purchasing an additional 149 shares in the last quarter. Finally, Evoke Wealth LLC grew its holdings in shares of Essex Property Trust by 177.3% during the 4th quarter. Evoke Wealth LLC now owns 183 shares of the real estate investment trust’s stock worth $55,000 after purchasing an additional 117 shares in the last quarter. 94.83% of the stock is currently owned by institutional investors and hedge funds.

A number of research analysts recently commented on ESS shares. SunTrust Banks upped their target price on Essex Property Trust from $315.00 to $330.00 and gave the company a “hold” rating in a research note on Friday, February 21st. BTIG Research cut Essex Property Trust from a “buy” rating to a “neutral” rating in a research report on Monday, November 25th. BMO Capital Markets lowered shares of Essex Property Trust from a “market perform” rating to an “underperform” rating and lowered their price target for the company from $320.00 to $295.00 in a report on Tuesday, January 28th. Sandler O’Neill upgraded shares of Essex Property Trust from a “hold” rating to a “buy” rating and set a $355.00 price objective for the company in a research note on Monday, November 18th. Finally, Evercore ISI raised shares of Essex Property Trust from an “in-line” rating to an “outperform” rating and set a $341.00 price objective for the company in a report on Tuesday, November 19th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and seven have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $331.64.

In other news, Director Irving F. Lyons III sold 2,838 shares of Essex Property Trust stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $309.92, for a total value of $879,552.96. Following the completion of the transaction, the director now owns 10,710 shares in the company, valued at $3,319,243.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO John F. Burkart sold 4,400 shares of the business’s stock in a transaction that occurred on Wednesday, January 22nd. The stock was sold at an average price of $312.89, for a total value of $1,376,716.00. Following the completion of the transaction, the chief operating officer now directly owns 8,313 shares in the company, valued at $2,601,054.57. The disclosure for this sale can be found here. Insiders sold a total of 25,284 shares of company stock worth $8,021,837 in the last 90 days. 3.60% of the stock is owned by corporate insiders.

Shares of Essex Property Trust stock traded down $20.25 during midday trading on Thursday, hitting $296.69. 635,100 shares of the company were exchanged, compared to its average volume of 486,123. The firm has a 50 day simple moving average of $312.89 and a 200-day simple moving average of $315.66. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.36 and a quick ratio of 1.36. The firm has a market cap of $21.04 billion, a P/E ratio of 44.48, a PEG ratio of 3.78 and a beta of 0.32. Essex Property Trust Inc has a 52 week low of $271.58 and a 52 week high of $334.17.

Essex Property Trust (NYSE:ESS) last announced its quarterly earnings results on Wednesday, January 29th. The real estate investment trust reported $1.95 earnings per share for the quarter, missing analysts’ consensus estimates of $3.42 by ($1.47). Essex Property Trust had a net margin of 30.08% and a return on equity of 6.90%. The company had revenue of $375.37 million during the quarter, compared to the consensus estimate of $373.65 million. During the same quarter last year, the company earned $3.19 earnings per share. Equities research analysts expect that Essex Property Trust Inc will post 14.03 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st will be paid a $2.0775 dividend. This represents a $8.31 annualized dividend and a dividend yield of 2.80%. The ex-dividend date is Monday, March 30th. This is an increase from Essex Property Trust’s previous quarterly dividend of $1.95. Essex Property Trust’s payout ratio is currently 58.30%.

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

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