Essex Property Trust, Inc. (NYSE:ESS) Shares Acquired by Azzad Asset Management Inc. ADV

Azzad Asset Management Inc. ADV raised its holdings in shares of Essex Property Trust, Inc. (NYSE:ESS) by 2.7% during the first quarter, HoldingsChannel.com reports. The firm owned 5,707 shares of the real estate investment trust’s stock after buying an additional 148 shares during the period. Azzad Asset Management Inc. ADV’s holdings in Essex Property Trust were worth $1,397,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in ESS. Norges Bank acquired a new position in shares of Essex Property Trust during the fourth quarter worth $675,183,000. Cohen & Steers Inc. increased its position in shares of Essex Property Trust by 31.2% in the 4th quarter. Cohen & Steers Inc. now owns 3,072,004 shares of the real estate investment trust’s stock valued at $761,760,000 after acquiring an additional 730,141 shares during the period. Daiwa Securities Group Inc. increased its position in shares of Essex Property Trust by 201.1% in the 4th quarter. Daiwa Securities Group Inc. now owns 534,964 shares of the real estate investment trust’s stock valued at $132,639,000 after acquiring an additional 357,268 shares during the period. Russell Investments Group Ltd. increased its position in shares of Essex Property Trust by 119.3% in the 4th quarter. Russell Investments Group Ltd. now owns 412,721 shares of the real estate investment trust’s stock valued at $102,602,000 after acquiring an additional 224,554 shares during the period. Finally, Wellington Management Group LLP increased its position in shares of Essex Property Trust by 5,069.7% in the 3rd quarter. Wellington Management Group LLP now owns 208,651 shares of the real estate investment trust’s stock valued at $44,253,000 after acquiring an additional 204,615 shares during the period. 96.51% of the stock is owned by institutional investors and hedge funds.

Essex Property Trust Price Performance

ESS stock traded down $1.44 during mid-day trading on Wednesday, reaching $271.55. The company’s stock had a trading volume of 59,049 shares, compared to its average volume of 379,430. The stock has a market cap of $17.44 billion, a PE ratio of 33.25, a P/E/G ratio of 3.81 and a beta of 0.86. The company has a current ratio of 3.19, a quick ratio of 3.19 and a debt-to-equity ratio of 1.14. Essex Property Trust, Inc. has a fifty-two week low of $203.85 and a fifty-two week high of $284.77. The company’s 50 day moving average is $264.00 and its two-hundred day moving average is $248.00.

Essex Property Trust Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 24th. Shareholders of record on Friday, June 28th will be issued a $2.45 dividend. The ex-dividend date of this dividend is Friday, June 28th. This represents a $9.80 dividend on an annualized basis and a yield of 3.61%. Essex Property Trust’s payout ratio is 119.80%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Stifel Nicolaus upped their target price on Essex Property Trust from $239.50 to $243.50 and gave the company a “hold” rating in a research report on Wednesday, May 1st. Bank of America raised Essex Property Trust from a “neutral” rating to a “buy” rating and upped their target price for the company from $250.00 to $275.00 in a research report on Monday, April 1st. Wells Fargo & Company upped their target price on Essex Property Trust from $232.00 to $269.00 and gave the company an “equal weight” rating in a research report on Friday, May 31st. StockNews.com raised shares of Essex Property Trust from a “sell” rating to a “hold” rating in a report on Wednesday, May 1st. Finally, Raymond James raised shares of Essex Property Trust from a “market perform” rating to an “outperform” rating and set a $265.00 price target on the stock in a report on Monday, March 18th. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $258.63.

Insider Buying and Selling at Essex Property Trust

In other news, Director Keith R. Guericke sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $274.57, for a total transaction of $2,745,700.00. Following the completion of the sale, the director now owns 16,118 shares in the company, valued at approximately $4,425,519.26. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Keith R. Guericke sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $274.57, for a total transaction of $2,745,700.00. Following the completion of the sale, the director now owns 16,118 shares in the company, valued at approximately $4,425,519.26. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Angela L. Kleiman sold 3,780 shares of the stock in a transaction that occurred on Friday, June 21st. The stock was sold at an average price of $278.27, for a total transaction of $1,051,860.60. Following the transaction, the chief executive officer now directly owns 9,494 shares of the company’s stock, valued at approximately $2,641,895.38. The disclosure for this sale can be found here. 3.90% of the stock is owned by insiders.

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.