Livforsakringsbolaget Skandia Omsesidigt Buys 800 Shares of Essex Property Trust, Inc. (NYSE:ESS)

Livforsakringsbolaget Skandia Omsesidigt increased its stake in shares of Essex Property Trust, Inc. (NYSE:ESS) by 311.3% during the 3rd quarter, Holdings Channel reports. The fund owned 1,057 shares of the real estate investment trust’s stock after acquiring an additional 800 shares during the period. Livforsakringsbolaget Skandia Omsesidigt’s holdings in Essex Property Trust were worth $314,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the stock. Price T Rowe Associates Inc. MD boosted its holdings in Essex Property Trust by 8.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 1,832,845 shares of the real estate investment trust’s stock worth $448,701,000 after acquiring an additional 147,130 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in shares of Essex Property Trust by 2.5% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,145,569 shares of the real estate investment trust’s stock worth $311,824,000 after purchasing an additional 27,570 shares in the last quarter. Daiwa Securities Group Inc. grew its position in Essex Property Trust by 0.4% in the 2nd quarter. Daiwa Securities Group Inc. now owns 1,001,769 shares of the real estate investment trust’s stock valued at $272,682,000 after purchasing an additional 3,977 shares during the period. Dimensional Fund Advisors LP increased its stake in Essex Property Trust by 1.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 941,501 shares of the real estate investment trust’s stock valued at $256,280,000 after purchasing an additional 12,822 shares in the last quarter. Finally, Boston Partners lifted its stake in shares of Essex Property Trust by 3.3% in the first quarter. Boston Partners now owns 744,175 shares of the real estate investment trust’s stock valued at $182,185,000 after buying an additional 23,673 shares in the last quarter. 96.51% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms recently weighed in on ESS. Bank of America cut shares of Essex Property Trust from a “buy” rating to a “neutral” rating and boosted their price target for the stock from $307.00 to $321.00 in a report on Tuesday, September 24th. The Goldman Sachs Group assumed coverage on Essex Property Trust in a research report on Wednesday, September 4th. They set a “neutral” rating and a $318.00 price target for the company. Raymond James boosted their price objective on Essex Property Trust from $295.00 to $325.00 and gave the stock an “outperform” rating in a research report on Thursday, August 29th. Truist Financial raised their target price on Essex Property Trust from $282.00 to $294.00 and gave the company a “hold” rating in a research report on Tuesday, August 27th. Finally, Royal Bank of Canada boosted their price target on shares of Essex Property Trust from $284.00 to $288.00 and gave the stock an “outperform” rating in a report on Thursday, August 1st. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Essex Property Trust currently has a consensus rating of “Hold” and a consensus price target of $293.40.

Insider Activity

In other Essex Property Trust news, CAO Anne Morrison sold 2,571 shares of the company’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $314.79, for a total transaction of $809,325.09. Following the completion of the sale, the chief accounting officer now owns 2,321 shares in the company, valued at $730,627.59. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Amal M. Johnson sold 2,453 shares of the business’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 sale, the director now owns 2,585 shares in the company, valued at approximately $775,500. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Anne Morrison sold 2,571 shares of the company’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $314.79, for a total transaction of $809,325.09. Following the transaction, the chief accounting officer now owns 2,321 shares in the company, valued at approximately $730,627.59. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 20,402 shares of company stock worth $6,399,663. 3.80% of the stock is currently owned by corporate insiders.

Essex Property Trust Stock Up 1.1 %

NYSE ESS opened at $291.35 on Tuesday. The company has a quick ratio of 1.62, a current ratio of 1.62 and a debt-to-equity ratio of 1.11. Essex Property Trust, Inc. has a 52 week low of $203.85 and a 52 week high of $317.73. The firm has a market capitalization of $18.71 billion, a price-to-earnings ratio of 35.62, a PEG ratio of 5.21 and a beta of 0.88. The company has a fifty day moving average of $295.32 and a two-hundred day moving average of $274.57.

Essex Property Trust (NYSE:ESS) last issued 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 return on equity of 9.14% and a net margin of 30.31%. The business had revenue of $442.36 million for the quarter, compared to the consensus estimate of $433.26 million. During the same period in the prior year, the business posted $3.77 earnings per share. On average, analysts predict that Essex Property Trust, Inc. will post 15.55 earnings per share for the current year.

Essex Property Trust Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Monday, September 30th were given a dividend of $2.45 per share. This represents a $9.80 dividend on an annualized basis and a yield of 3.36%. The ex-dividend date was Monday, September 30th. Essex Property Trust’s dividend payout ratio (DPR) is 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.