Naviter Wealth LLC Has $1.03 Million Stock Position in Essex Property Trust, Inc. (NYSE:ESS)

Naviter Wealth LLC increased its holdings in shares of Essex Property Trust, Inc. (NYSE:ESS) by 12.2% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 4,154 shares of the real estate investment trust’s stock after buying an additional 452 shares during the quarter. Naviter Wealth LLC’s holdings in Essex Property Trust were worth $1,027,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Lindbrook Capital LLC grew its holdings in shares of Essex Property Trust by 111.5% during the 4th quarter. Lindbrook Capital LLC now owns 110 shares of the real estate investment trust’s stock valued at $27,000 after purchasing an additional 58 shares during the last quarter. Vima LLC bought a new position in shares of Essex Property Trust in the 4th quarter valued at $40,000. Bruce G. Allen Investments LLC acquired a new stake in shares of Essex Property Trust during the 4th quarter valued at $41,000. Bear Mountain Capital Inc. bought a new stake in Essex Property Trust during the 4th quarter worth $55,000. Finally, Blue Trust Inc. grew its position in Essex Property Trust by 645.2% during the 4th 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 last quarter. 96.51% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Essex Property Trust

In related news, Director Keith R. Guericke sold 10,000 shares of the company’s stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $274.57, for a total value of $2,745,700.00. Following the sale, the director now owns 16,118 shares in the company, valued at approximately $4,425,519.26. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CEO Angela L. Kleiman sold 3,780 shares of the business’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 in the company, valued at $2,641,895.38. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Keith R. Guericke sold 10,000 shares of the 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 of the company’s stock, valued at approximately $4,425,519.26. The disclosure for this sale can be found here. Insiders own 3.90% of the company’s stock.

Analyst Ratings Changes

ESS has been the topic of several research reports. StockNews.com upgraded Essex Property Trust from a “sell” rating to a “hold” rating in a report on Wednesday, May 1st. Wells Fargo & Company lifted their price target on shares of Essex Property Trust from $232.00 to $269.00 and gave the stock an “equal weight” rating in a report on Friday, May 31st. Mizuho raised their target price on Essex Property Trust from $250.00 to $266.00 and gave the stock a “buy” rating in a research report on Thursday, May 30th. Raymond James upgraded Essex Property Trust from a “market perform” rating to an “outperform” rating and set a $265.00 price objective for the company in a research report on Monday, March 18th. Finally, Piper Sandler reissued an “overweight” rating and set a $315.00 target price on shares of Essex Property Trust in a research report on Friday, June 28th. Two equities research 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.com, the stock has an average rating of “Hold” and a consensus target price of $258.63.

Essex Property Trust Trading Up 0.1 %

Shares of Essex Property Trust stock opened at $273.00 on Wednesday. The company has a debt-to-equity ratio of 1.14, a quick ratio of 3.19 and a current ratio of 3.19. Essex Property Trust, Inc. has a 52 week low of $203.85 and a 52 week high of $284.77. The stock has a 50 day moving average price of $263.39 and a two-hundred day moving average price of $247.81. The stock has a market capitalization of $17.53 billion, a PE ratio of 33.37, a price-to-earnings-growth ratio of 3.81 and a beta of 0.86.

Essex Property Trust Dividend Announcement

The firm 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. The ex-dividend date is Friday, June 28th. This represents a $9.80 dividend on an annualized basis and a yield of 3.59%. Essex Property Trust’s dividend payout ratio (DPR) is presently 119.80%.

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.