1,628 Shares in Essex Property Trust, Inc. (NYSE:ESS) Acquired by Edgestream Partners L.P.

Edgestream Partners L.P. bought a new stake in shares of Essex Property Trust, Inc. (NYSE:ESS) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 1,628 shares of the real estate investment trust’s stock, valued at approximately $443,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of ESS. State Board of Administration of Florida Retirement System increased its position in Essex Property Trust by 2.6% during the first quarter. State Board of Administration of Florida Retirement System now owns 81,456 shares of the real estate investment trust’s stock valued at $19,941,000 after acquiring an additional 2,083 shares during the last quarter. Canada Pension Plan Investment Board increased its position in shares of Essex Property Trust by 8.7% during the 1st quarter. Canada Pension Plan Investment Board now owns 225,045 shares of the real estate investment trust’s stock valued at $55,093,000 after purchasing an additional 18,000 shares during the last quarter. Mizuho Markets Americas LLC lifted its stake in shares of Essex Property Trust by 107.9% in the 1st quarter. Mizuho Markets Americas LLC now owns 43,802 shares of the real estate investment trust’s stock worth $10,723,000 after purchasing an additional 22,736 shares during the period. Franklin Resources Inc. boosted its holdings in shares of Essex Property Trust by 10.5% in the fourth quarter. Franklin Resources Inc. now owns 62,067 shares of the real estate investment trust’s stock worth $15,389,000 after buying an additional 5,887 shares during the last quarter. Finally, ORG Partners LLC bought a new stake in Essex Property Trust during the second quarter valued at approximately $743,000. 96.51% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Truist Financial lifted their price target on shares of Essex Property Trust from $282.00 to $294.00 and gave the stock a “hold” rating in a research note on Tuesday, August 27th. Piper Sandler boosted their price target on Essex Property Trust from $315.00 to $355.00 and gave the company an “overweight” rating in a report on Monday, August 26th. Stifel Nicolaus upped their price target on Essex Property Trust from $267.00 to $268.00 and gave the stock a “hold” rating in a research report on Wednesday, July 31st. UBS Group lifted their price objective on Essex Property Trust from $261.00 to $283.00 and gave the company a “neutral” rating in a research report on Thursday, July 18th. Finally, JPMorgan Chase & Co. increased their target price on shares of Essex Property Trust from $265.00 to $297.00 and gave the stock a “neutral” rating in a report on Monday, September 16th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, Essex Property Trust has a consensus rating of “Hold” and a consensus target price of $291.10.

Insider Activity at Essex Property Trust

In other Essex Property Trust news, CAO Anne Morrison sold 2,571 shares of Essex Property Trust stock in a transaction on Monday, September 16th. The shares were sold at an average price of $314.79, for a total value of $809,325.09. Following the completion of the transaction, the chief accounting officer now directly owns 2,321 shares of the company’s stock, valued at approximately $730,627.59. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 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 transaction of $2,308,430.38. Following the sale, the director now directly owns 2,585 shares in the company, valued at $817,661.35. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Anne Morrison sold 2,571 shares of Essex Property Trust stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $314.79, for a total value of $809,325.09. Following the completion of the transaction, the chief accounting officer now owns 2,321 shares of the company’s stock, valued at approximately $730,627.59. The disclosure for this sale can be found here. Insiders have sold a total of 20,402 shares of company stock valued at $6,399,663 over the last 90 days. 3.80% of the stock is owned by corporate insiders.

Essex Property Trust Trading Down 2.0 %

Shares of Essex Property Trust stock opened at $306.21 on Monday. Essex Property Trust, Inc. has a twelve month low of $203.85 and a twelve month high of $317.73. 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 business has a 50-day moving average price of $292.19 and a 200-day moving average price of $268.71. The firm has a market cap of $19.66 billion, a price-to-earnings ratio of 37.43, a PEG ratio of 4.41 and a beta of 0.88.

Essex Property Trust (NYSE:ESS) last released its quarterly earnings results on Tuesday, July 30th. The real estate investment trust reported $1.45 earnings per share for the quarter, missing the consensus estimate of $3.85 by ($2.40). The firm had revenue of $442.36 million for the quarter, compared to analysts’ expectations 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 quarter in the prior year, the business earned $3.77 EPS. Equities research analysts anticipate 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. Investors of record on Monday, September 30th will be given a $2.45 dividend. This represents a $9.80 annualized dividend and a yield of 3.20%. The ex-dividend date is Monday, September 30th. Essex Property Trust’s dividend payout ratio is presently 119.80%.

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.