Essex Property Trust, Inc. (NYSE:ESS) Shares Sold by Andra AP fonden

Andra AP fonden lowered its holdings in shares of Essex Property Trust, Inc. (NYSE:ESSFree Report) by 8.2% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 41,300 shares of the real estate investment trust’s stock after selling 3,700 shares during the period. Andra AP fonden owned 0.06% of Essex Property Trust worth $11,242,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. State Board of Administration of Florida Retirement System boosted its stake in shares of Essex Property Trust by 2.6% during the first quarter. State Board of Administration of Florida Retirement System now owns 81,456 shares of the real estate investment trust’s stock worth $19,941,000 after buying an additional 2,083 shares during the period. Canada Pension Plan Investment Board grew its stake in shares of Essex Property Trust by 8.7% in the 1st quarter. Canada Pension Plan Investment Board now owns 225,045 shares of the real estate investment trust’s stock valued at $55,093,000 after purchasing an additional 18,000 shares during the last quarter. Mizuho Markets Americas LLC grew its stake in shares of Essex Property Trust by 107.9% in the 1st quarter. Mizuho Markets Americas LLC now owns 43,802 shares of the real estate investment trust’s stock valued at $10,723,000 after purchasing an additional 22,736 shares during the last quarter. Franklin Resources Inc. raised its stake in shares of Essex Property Trust by 10.5% during the fourth quarter. Franklin Resources Inc. now owns 62,067 shares of the real estate investment trust’s stock worth $15,389,000 after purchasing an additional 5,887 shares during the last quarter. Finally, ORG Partners LLC acquired a new stake in shares of Essex Property Trust during the second quarter worth $743,000. 96.51% of the stock is owned by hedge funds and other institutional investors.

Essex Property Trust Stock Performance

Essex Property Trust stock opened at $308.27 on Wednesday. The company has a debt-to-equity ratio of 1.11, a quick ratio of 1.62 and a current ratio of 1.62. Essex Property Trust, Inc. has a fifty-two week low of $203.85 and a fifty-two week high of $308.60. The stock has a fifty day moving average of $286.20 and a two-hundred day moving average of $264.41. The company has a market capitalization of $19.79 billion, a price-to-earnings ratio of 37.69, a PEG ratio of 4.27 and a beta of 0.88.

Essex Property Trust (NYSE:ESSGet Free Report) last posted its quarterly earnings data on Tuesday, July 30th. The real estate investment trust reported $1.45 EPS for the quarter, missing analysts’ consensus estimates of $3.85 by ($2.40). The company had revenue of $442.36 million for the quarter, compared to analysts’ expectations of $433.26 million. Essex Property Trust had a return on equity of 9.14% and a net margin of 30.31%. During the same quarter in the prior year, the business posted $3.77 EPS. On average, analysts anticipate that Essex Property Trust, Inc. will post 15.53 EPS for the current fiscal year.

Essex Property Trust Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 11th. Shareholders of record on Monday, September 30th will be paid a $2.45 dividend. The ex-dividend date is Monday, September 30th. This represents a $9.80 annualized dividend and a yield of 3.18%. Essex Property Trust’s payout ratio is currently 119.80%.

Analysts Set New Price Targets

Several equities analysts have issued reports on ESS shares. Stifel Nicolaus boosted their price objective on shares of Essex Property Trust from $267.00 to $268.00 and gave the company a “hold” rating in a research note on Wednesday, July 31st. Raymond James raised their price objective on shares of Essex Property Trust from $295.00 to $325.00 and gave the company an “outperform” rating in a research report on Thursday, August 29th. Wedbush increased their target price on Essex Property Trust from $264.00 to $301.00 and gave the stock a “neutral” rating in a research note on Monday, August 5th. JPMorgan Chase & Co. lifted their price target on Essex Property Trust from $244.00 to $265.00 and gave the company a “neutral” rating in a research note on Monday, June 17th. Finally, Truist Financial increased their price objective on Essex Property Trust from $282.00 to $294.00 and gave the stock a “hold” rating in a research report on Tuesday, August 27th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $285.95.

Check Out Our Latest Stock Analysis on Essex Property Trust

Insider Buying and Selling at Essex Property Trust

In other news, Director Keith R. Guericke sold 10,000 shares of Essex Property Trust stock in a transaction 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 $4,425,519.26. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Essex Property Trust news, Director Keith R. Guericke sold 10,000 shares of the firm’s stock in a transaction dated 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 sale, the director now directly owns 16,118 shares of the company’s stock, valued at approximately $4,425,519.26. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Angela L. Kleiman sold 3,780 shares of the company’s stock in a transaction dated Friday, June 21st. The shares were 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. In the last three months, insiders sold 16,233 shares of company stock worth $4,533,461. Insiders own 3.80% of the company’s stock.

Essex Property Trust Company Profile

(Free Report)

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.

Further Reading

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

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