Aurora Investment Managers LLC. Raises Stock Holdings in Essex Property Trust, Inc. (NYSE:ESS)

Aurora Investment Managers LLC. boosted its stake in Essex Property Trust, Inc. (NYSE:ESS) by 10.0% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 12,475 shares of the real estate investment trust’s stock after buying an additional 1,132 shares during the period. Essex Property Trust makes up approximately 2.2% of Aurora Investment Managers LLC.’s portfolio, making the stock its 17th biggest position. Aurora Investment Managers LLC.’s holdings in Essex Property Trust were worth $3,685,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of ESS. Continuum Advisory LLC raised its holdings in Essex Property Trust by 214.3% in the 2nd quarter. Continuum Advisory LLC now owns 110 shares of the real estate investment trust’s stock valued at $30,000 after buying an additional 75 shares during the period. UMB Bank n.a. increased its stake in shares of Essex Property Trust by 600.0% during the second quarter. UMB Bank n.a. now owns 112 shares of the real estate investment trust’s stock worth $30,000 after buying an additional 96 shares during the period. Family Firm Inc. purchased a new stake in shares of Essex Property Trust during the second quarter worth approximately $31,000. Whittier Trust Co. of Nevada Inc. increased its stake in shares of Essex Property Trust by 121.8% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 193 shares of the real estate investment trust’s stock worth $53,000 after buying an additional 106 shares during the period. Finally, Ridgewood Investments LLC purchased a new stake in shares of Essex Property Trust during the second quarter worth approximately $66,000. 96.51% of the stock is currently owned by hedge funds and other institutional investors.

Essex Property Trust Price Performance

Shares of ESS traded down $3.23 during trading hours on Friday, reaching $294.25. 291,794 shares of the company traded hands, compared to its average volume of 381,102. The company has a quick ratio of 1.62, a current ratio of 1.62 and a debt-to-equity ratio of 1.11. The stock has a market capitalization of $18.89 billion, a PE ratio of 35.98, a price-to-earnings-growth 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. The stock has a fifty day simple moving average of $296.27 and a 200 day simple moving average of $275.20.

Essex Property Trust (NYSE:ESS) 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 analyst estimates of $433.26 million. Essex Property Trust had a net margin of 30.31% and a return on equity of 9.14%. During the same period in the previous year, the business earned $3.77 EPS. As a group, research analysts predict that Essex Property Trust, Inc. will post 15.55 EPS for the current fiscal year.

Essex Property Trust Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Monday, September 30th were given a dividend of $2.45 per share. This represents a $9.80 annualized dividend and a yield of 3.33%. The ex-dividend date was Monday, September 30th. Essex Property Trust’s dividend payout ratio (DPR) is presently 119.80%.

Insider Buying and Selling

In other Essex Property Trust news, Director Amal M. Johnson sold 7,298 shares of the company’s stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $316.31, for a total value of $2,308,430.38. Following the transaction, 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 document filed with the SEC, which is available at the SEC website. In related news, Director Amal M. Johnson sold 2,453 shares of the company’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 represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Amal M. Johnson sold 7,298 shares of the company’s stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $316.31, for a total value of $2,308,430.38. Following the sale, the director now directly owns 2,585 shares of the company’s stock, valued at approximately $817,661.35. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 20,402 shares of company stock valued at $6,399,663. Corporate insiders own 3.80% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on ESS shares. Piper Sandler upped their target price on shares of Essex Property Trust from $315.00 to $355.00 and gave the stock an “overweight” rating in a research note on Monday, August 26th. The Goldman Sachs Group initiated coverage on Essex Property Trust in a report on Wednesday, September 4th. They issued a “neutral” rating and a $318.00 price target for the company. Raymond James upped their price target on Essex Property Trust from $295.00 to $325.00 and gave the company an “outperform” rating in a report on Thursday, August 29th. Stifel Nicolaus upped their price target on Essex Property Trust from $267.00 to $268.00 and gave the company a “hold” rating in a report on Wednesday, July 31st. Finally, Evercore ISI upped their price target on Essex Property Trust from $283.00 to $287.00 and gave the company an “in-line” rating in a report on Monday, September 16th. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $293.40.

Essex Property Trust Company 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.