Achmea Investment Management B.V. Decreases Holdings in Essex Property Trust, Inc. (NYSE:ESS)

Achmea Investment Management B.V. trimmed its stake in Essex Property Trust, Inc. (NYSE:ESS) by 47.2% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 8,558 shares of the real estate investment trust’s stock after selling 7,664 shares during the quarter. Achmea Investment Management B.V.’s holdings in Essex Property Trust were worth $2,330,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Continuum Advisory LLC raised its holdings in shares of 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 worth $30,000 after purchasing an additional 75 shares during the period. UMB Bank n.a. raised its stake in shares of Essex Property Trust by 600.0% in the second quarter. UMB Bank n.a. now owns 112 shares of the real estate investment trust’s stock valued at $30,000 after buying an additional 96 shares during the period. Family Firm Inc. purchased a new position in shares of Essex Property Trust during the 2nd quarter valued at $31,000. Vima LLC bought a new position in shares of Essex Property Trust during the 4th quarter worth $40,000. Finally, Whittier Trust Co. of Nevada Inc. increased its holdings in Essex Property Trust by 121.8% in the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 193 shares of the real estate investment trust’s stock worth $53,000 after acquiring an additional 106 shares during the last quarter. 96.51% of the stock is owned by institutional investors.

Essex Property Trust Stock Performance

NYSE ESS opened at $314.05 on Friday. The company has a market capitalization of $20.16 billion, a P/E ratio of 38.39, a P/E/G ratio of 4.41 and a beta of 0.88. The company has a debt-to-equity ratio of 1.11, a quick ratio of 1.62 and a current ratio of 1.62. Essex Property Trust, Inc. has a 52-week low of $203.85 and a 52-week high of $314.31. The company has a fifty day moving average of $288.60 and a 200-day moving average of $265.64.

Essex Property Trust (NYSE:ESS) last posted its quarterly earnings data 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). The firm had revenue of $442.36 million during the quarter, compared to analysts’ expectations of $433.26 million. Essex Property Trust had a return on equity of 9.14% and a net margin of 30.31%. During the same quarter in the previous year, the company posted $3.77 earnings per share. As a group, equities research analysts predict that Essex Property Trust, Inc. will post 15.53 EPS for the current fiscal year.

Essex Property Trust Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Shareholders of record on Monday, September 30th will be paid a dividend of $2.45 per share. This represents a $9.80 annualized dividend and a dividend yield of 3.12%. The ex-dividend date is Monday, September 30th. Essex Property Trust’s dividend payout ratio (DPR) is presently 119.80%.

Insider Transactions at Essex Property Trust

In related news, Director Amal M. Johnson sold 2,453 shares of the stock in a transaction on Friday, August 30th. The shares were sold at an average price of $300.00, for a total transaction of $735,900.00. Following the transaction, the director now owns 2,585 shares of the company’s stock, valued at approximately $775,500. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, Director Amal M. Johnson sold 2,453 shares of the firm’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $300.00, for a total transaction of $735,900.00. Following the transaction, the director now directly owns 2,585 shares of the company’s stock, valued at $775,500. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 value of $1,051,860.60. Following the completion of the sale, the chief executive officer now directly owns 9,494 shares of the company’s stock, valued at approximately $2,641,895.38. The disclosure for this sale can be found here. Company insiders own 3.80% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on ESS. Mizuho lifted 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. Piper Sandler lifted their price objective on shares of Essex Property Trust from $315.00 to $355.00 and gave the company an “overweight” rating in a research note on Monday, August 26th. BNP Paribas assumed coverage on Essex Property Trust in a research report on Wednesday. They set an “outperform” rating and a $333.00 target price on the stock. Stifel Nicolaus lifted their price target on Essex Property Trust from $267.00 to $268.00 and gave the company a “hold” rating in a research report on Wednesday, July 31st. Finally, Evercore ISI increased their price objective on Essex Property Trust from $268.00 to $283.00 and gave the stock an “in-line” rating in a report on Wednesday, August 28th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, Essex Property Trust has a consensus rating of “Hold” and an average target price of $288.30.

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.