ORG Wealth Partners LLC acquired a new position in shares of Essex Property Trust, Inc. (NYSE:ESS – Free Report) in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund acquired 2,050 shares of the real estate investment trust’s stock, valued at approximately $606,000.
Several other large investors have also recently modified their holdings of the company. Thurston Springer Miller Herd & Titak Inc. boosted its position in shares of Essex Property Trust by 12.1% in the 3rd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 539 shares of the real estate investment trust’s stock worth $159,000 after purchasing an additional 58 shares in the last quarter. Exchange Traded Concepts LLC increased its position in Essex Property Trust by 1,247.2% during the 3rd quarter. Exchange Traded Concepts LLC now owns 485 shares of the real estate investment trust’s stock valued at $143,000 after buying an additional 449 shares in the last quarter. Code Waechter LLC purchased a new stake in Essex Property Trust in the third quarter valued at about $207,000. Livforsakringsbolaget Skandia Omsesidigt boosted its holdings in Essex Property Trust by 311.3% in the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,057 shares of the real estate investment trust’s stock worth $314,000 after acquiring an additional 800 shares in the last quarter. Finally, Contravisory Investment Management Inc. purchased a new stake in shares of Essex Property Trust during the third quarter worth about $488,000. Institutional investors own 96.51% of the company’s stock.
Analysts Set New Price Targets
Several analysts have weighed in on ESS shares. The Goldman Sachs Group assumed coverage on shares of Essex Property Trust in a research report on Wednesday, September 4th. They set a “neutral” rating and a $318.00 target price on the stock. Wells Fargo & Company upped their target price on Essex Property Trust from $269.00 to $314.00 and gave the company an “equal weight” rating in a research report on Monday, August 26th. UBS Group lifted their price target on Essex Property Trust from $261.00 to $283.00 and gave the stock a “neutral” rating in a research report on Thursday, July 18th. JPMorgan Chase & Co. increased their price objective on Essex Property Trust from $265.00 to $297.00 and gave the company a “neutral” rating in a report on Monday, September 16th. Finally, Evercore ISI lifted their target price on Essex Property Trust from $283.00 to $287.00 and gave the stock an “in-line” rating in a report on Monday, September 16th. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $293.40.
Essex Property Trust Trading Up 1.0 %
Shares of Essex Property Trust stock opened at $288.08 on Monday. The stock has a 50 day moving average of $294.95 and a 200 day moving average of $274.25. The company has a debt-to-equity ratio of 1.11, a quick ratio of 1.62 and a current ratio of 1.62. The firm has a market capitalization of $18.50 billion, a price-to-earnings ratio of 35.22, a PEG ratio of 5.21 and a beta of 0.88. Essex Property Trust, Inc. has a fifty-two week low of $203.85 and a fifty-two week high of $317.73.
Essex Property Trust (NYSE:ESS – Get Free Report) last posted its earnings results 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). Essex Property Trust had a net margin of 30.31% and a return on equity of 9.14%. The company had revenue of $442.36 million during the quarter, compared to analyst estimates of $433.26 million. During the same period in the previous year, the company earned $3.77 EPS. As a group, research analysts predict that Essex Property Trust, Inc. will post 15.55 earnings per share for the current year.
Essex Property Trust Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Monday, September 30th were issued a $2.45 dividend. The ex-dividend date of this dividend was Monday, September 30th. This represents a $9.80 annualized dividend and a yield of 3.40%. Essex Property Trust’s dividend payout ratio (DPR) is presently 119.80%.
Insider Buying and Selling at Essex Property Trust
In other news, Director Amal M. Johnson sold 2,453 shares of the firm’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $300.00, for a total transaction of $735,900.00. Following the completion of the transaction, the director now directly owns 2,585 shares in the company, valued at $775,500. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, Director Amal M. Johnson sold 7,298 shares of the company’s stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $316.31, for a total transaction of $2,308,430.38. Following the sale, the director now directly owns 2,585 shares of the company’s stock, valued at $817,661.35. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Amal M. Johnson sold 2,453 shares of the company’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $300.00, for a total value of $735,900.00. Following the sale, the director now owns 2,585 shares in the company, valued at approximately $775,500. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 20,402 shares of company stock valued at $6,399,663 over the last quarter. 3.80% of the stock is owned by company 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.
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