GAMMA Investing LLC Has $145,000 Holdings in Essex Property Trust, Inc. (NYSE:ESS)

GAMMA Investing LLC lifted its position in shares of Essex Property Trust, Inc. (NYSE:ESS) by 10.3% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 591 shares of the real estate investment trust’s stock after purchasing an additional 55 shares during the quarter. GAMMA Investing LLC’s holdings in Essex Property Trust were worth $145,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of ESS. Norges Bank acquired a new stake 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% during the fourth quarter. Cohen & Steers Inc. now owns 3,072,004 shares of the real estate investment trust’s stock worth $761,760,000 after buying an additional 730,141 shares during the period. Daiwa Securities Group Inc. boosted its stake in Essex Property Trust by 201.1% during the fourth quarter. Daiwa Securities Group Inc. now owns 534,964 shares of the real estate investment trust’s stock worth $132,639,000 after acquiring an additional 357,268 shares in the last quarter. Russell Investments Group Ltd. boosted its stake in Essex Property Trust by 119.3% during the fourth quarter. Russell Investments Group Ltd. now owns 412,721 shares of the real estate investment trust’s stock worth $102,602,000 after acquiring an additional 224,554 shares in the last quarter. Finally, Wellington Management Group LLP boosted its stake in Essex Property Trust by 5,069.7% during the third quarter. Wellington Management Group LLP now owns 208,651 shares of the real estate investment trust’s stock worth $44,253,000 after acquiring an additional 204,615 shares in the last quarter. 96.51% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Keith R. Guericke sold 10,000 shares of the firm’s stock in a transaction dated 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 $4,425,519.26. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 3.80% of the stock is currently owned by corporate insiders.

Essex Property Trust Stock Performance

Shares of ESS stock opened at $278.02 on Friday. The firm has a 50-day moving average of $258.66 and a 200-day moving average of $245.70. The company has a market cap of $17.85 billion, a P/E ratio of 33.99, a P/E/G ratio of 3.99 and a beta of 0.84. The company has a debt-to-equity ratio of 1.14, a current ratio of 3.19 and a quick ratio of 3.19. Essex Property Trust, Inc. has a one year low of $203.85 and a one year high of $284.77.

Essex Property Trust Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 24th. Stockholders of record on Friday, June 28th will be issued a $2.45 dividend. The ex-dividend date is Friday, June 28th. This represents a $9.80 annualized dividend and a dividend yield of 3.52%. Essex Property Trust’s dividend payout ratio is currently 119.80%.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on ESS shares. Wells Fargo & Company increased their target price on shares of Essex Property Trust from $232.00 to $269.00 and gave the stock an “equal weight” rating in a research note on Friday, May 31st. Mizuho increased their target price on shares of Essex Property Trust from $250.00 to $266.00 and gave the stock a “buy” rating in a research note on Thursday, May 30th. UBS Group increased their target price on shares of Essex Property Trust from $250.00 to $261.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 14th. Wedbush increased their target price on shares of Essex Property Trust from $240.00 to $264.00 and gave the stock a “neutral” rating in a research note on Monday, May 6th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Essex Property Trust from $244.00 to $265.00 and gave the company a “neutral” rating in a research note on Monday, June 17th. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and seven have issued a buy rating to the company. According to MarketBeat, Essex Property Trust presently has an average rating of “Hold” and a consensus price target of $257.28.

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.