Signaturefd LLC Sells 66 Shares of Essex Property Trust, Inc. (NYSE:ESS)

Signaturefd LLC cut its stake in shares of Essex Property Trust, Inc. (NYSE:ESS) by 14.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 385 shares of the real estate investment trust’s stock after selling 66 shares during the quarter. Signaturefd LLC’s holdings in Essex Property Trust were worth $105,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of ESS. Savant Capital LLC purchased a new position in Essex Property Trust in the fourth quarter worth $230,000. Victory Capital Management Inc. boosted its holdings in shares of Essex Property Trust by 11.1% in the 4th quarter. Victory Capital Management Inc. now owns 49,277 shares of the real estate investment trust’s stock worth $12,218,000 after purchasing an additional 4,943 shares in the last quarter. Natixis Advisors L.P. increased its position in shares of Essex Property Trust by 3.9% during the 4th quarter. Natixis Advisors L.P. now owns 22,295 shares of the real estate investment trust’s stock valued at $5,527,000 after purchasing an additional 830 shares during the last quarter. Amalgamated Bank raised its holdings in shares of Essex Property Trust by 0.7% during the 4th quarter. Amalgamated Bank now owns 16,282 shares of the real estate investment trust’s stock valued at $4,037,000 after buying an additional 108 shares in the last quarter. Finally, Metis Global Partners LLC lifted its position in Essex Property Trust by 6.9% in the 4th quarter. Metis Global Partners LLC now owns 10,658 shares of the real estate investment trust’s stock worth $2,643,000 after buying an additional 684 shares during the last quarter. Hedge funds and other institutional investors own 96.51% of the company’s stock.

Essex Property Trust Trading Up 0.3 %

Essex Property Trust stock opened at $302.69 on Wednesday. Essex Property Trust, Inc. has a one year low of $203.85 and a one year high of $304.00. The business’s fifty day moving average is $283.28 and its 200 day moving average is $261.96. The stock has a market capitalization of $19.44 billion, a PE ratio of 37.00, a price-to-earnings-growth ratio of 4.32 and a beta of 0.86. The company has a debt-to-equity ratio of 1.11, a current ratio of 1.62 and a quick ratio of 1.62.

Essex Property Trust (NYSE:ESS) last announced its quarterly earnings results on Tuesday, July 30th. The real estate investment trust reported $1.45 earnings per share (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 for the quarter, compared to analysts’ expectations of $433.26 million. During the same period in the previous year, the business earned $3.77 EPS. On average, sell-side analysts predict that Essex Property Trust, Inc. will post 15.53 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages have commented on ESS. Stifel Nicolaus lifted their price target on shares of Essex Property Trust from $267.00 to $268.00 and gave the stock a “hold” rating in a research note on Wednesday, July 31st. Piper Sandler boosted their price target 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. Truist Financial raised their price objective on Essex Property Trust from $282.00 to $294.00 and gave the company a “hold” rating in a research note on Tuesday, August 27th. Morgan Stanley boosted their target price on Essex Property Trust from $230.00 to $250.00 and gave the company an “equal weight” rating in a research note on Tuesday, May 14th. Finally, Scotiabank raised their price target on Essex Property Trust from $290.00 to $309.00 and gave the stock a “sector outperform” rating in a research report on Monday, August 26th. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $276.70.

Insider Activity

In related news, CEO Angela L. Kleiman sold 3,780 shares of Essex Property Trust stock in a transaction on Friday, June 21st. The stock was sold at an average price of $278.27, for a total value of $1,051,860.60. Following the completion of the sale, the chief executive officer now owns 9,494 shares of the company’s stock, valued at $2,641,895.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Keith R. Guericke sold 10,000 shares of the business’s stock in a transaction on 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 sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Angela L. Kleiman sold 3,780 shares of Essex Property Trust stock in a transaction on Friday, June 21st. The shares were sold at an average price of $278.27, for a total value of $1,051,860.60. Following the transaction, the chief executive officer now owns 9,494 shares in the company, valued at $2,641,895.38. The disclosure for this sale can be found here. Insiders own 3.80% of the company’s stock.

About Essex Property Trust

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.