Azzad Asset Management Inc. ADV Buys 148 Shares of Essex Property Trust, Inc. (NYSE:ESS)

Azzad Asset Management Inc. ADV grew its stake in Essex Property Trust, Inc. (NYSE:ESS) by 2.7% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,707 shares of the real estate investment trust’s stock after purchasing an additional 148 shares during the quarter. Azzad Asset Management Inc. ADV’s holdings in Essex Property Trust were worth $1,397,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the stock. Lindbrook Capital LLC lifted its holdings in Essex Property Trust by 111.5% during the fourth quarter. Lindbrook Capital LLC now owns 110 shares of the real estate investment trust’s stock worth $27,000 after acquiring an additional 58 shares during the period. Vima LLC bought a new stake in Essex Property Trust during the fourth quarter worth $40,000. Bruce G. Allen Investments LLC bought a new stake in Essex Property Trust during the fourth quarter worth $41,000. Bear Mountain Capital Inc. bought a new stake in Essex Property Trust during the fourth quarter worth $55,000. Finally, Blue Trust Inc. lifted its holdings in Essex Property Trust by 645.2% during the fourth quarter. Blue Trust Inc. now owns 231 shares of the real estate investment trust’s stock worth $57,000 after acquiring an additional 200 shares during the period. Institutional investors own 96.51% of the company’s stock.

Insider Activity

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

Analysts Set New Price Targets

A number of analysts recently commented on the company. Morgan Stanley lifted their price target on Essex Property Trust from $230.00 to $250.00 and gave the stock an “equal weight” rating in a report on Tuesday, May 14th. Raymond James raised Essex Property Trust from a “market perform” rating to an “outperform” rating and set a $265.00 target price for the company in a research report on Monday, March 18th. Stifel Nicolaus raised their target price on Essex Property Trust from $239.50 to $243.50 and gave the stock a “hold” rating in a research report on Wednesday, May 1st. UBS Group raised their target price on Essex Property Trust from $250.00 to $261.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 14th. Finally, JPMorgan Chase & Co. raised their target price on Essex Property Trust from $244.00 to $265.00 and gave the stock a “neutral” rating in a research report on Monday, June 17th. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $258.63.

Essex Property Trust Price Performance

ESS stock traded down $1.44 during mid-day trading on Wednesday, hitting $271.55. 59,049 shares of the stock were exchanged, compared to its average volume of 379,430. The company has a debt-to-equity ratio of 1.14, a current ratio of 3.19 and a quick ratio of 3.19. The business has a fifty day moving average price of $264.00 and a 200 day moving average price of $248.00. Essex Property Trust, Inc. has a 12 month low of $203.85 and a 12 month high of $284.77. The stock has a market capitalization of $17.44 billion, a price-to-earnings ratio of 33.25, a PEG ratio of 3.81 and a beta of 0.86.

Essex Property Trust Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 24th. Shareholders of record on Friday, June 28th will be paid a dividend of $2.45 per share. This represents a $9.80 annualized dividend and a yield of 3.61%. The ex-dividend date of this dividend is Friday, June 28th. Essex Property Trust’s dividend payout ratio (DPR) is currently 119.80%.

About Essex Property Trust

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.