ORG Partners LLC Has $203,000 Holdings in Essex Property Trust, Inc. (NYSE:ESS)

ORG Partners LLC trimmed its holdings in Essex Property Trust, Inc. (NYSE:ESS) by 74.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 686 shares of the real estate investment trust’s stock after selling 2,039 shares during the period. ORG Partners LLC’s holdings in Essex Property Trust were worth $203,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in ESS. State Board of Administration of Florida Retirement System lifted its holdings in Essex Property Trust by 2.6% during the 1st 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 purchasing an additional 2,083 shares during the last quarter. Canada Pension Plan Investment Board lifted its stake 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 worth $55,093,000 after buying an additional 18,000 shares during the last quarter. Mizuho Markets Americas LLC boosted its holdings in shares of Essex Property Trust by 107.9% during 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 buying an additional 22,736 shares during the period. Caxton Associates LP acquired a new position in Essex Property Trust in the 1st quarter valued at about $532,000. Finally, Swedbank AB bought a new position in Essex Property Trust in the 1st quarter valued at about $4,299,000. 96.51% of the stock is currently owned by institutional investors.

Essex Property Trust Stock Up 0.4 %

Shares of ESS opened at $292.62 on Wednesday. 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 $317.73. The stock has a market capitalization of $18.79 billion, a price-to-earnings ratio of 35.77, a PEG ratio of 5.21 and a beta of 0.88. The stock has a fifty day moving average of $295.56 and a 200-day moving average of $274.91.

Essex Property Trust (NYSE:ESS) last posted its earnings results on Tuesday, July 30th. The real estate investment trust reported $1.45 EPS for the quarter, missing the consensus estimate of $3.85 by ($2.40). The firm had revenue of $442.36 million during the quarter, compared to the consensus estimate 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 posted $3.77 earnings per share. As a group, sell-side analysts anticipate that Essex Property Trust, Inc. will post 15.55 earnings per share for the current fiscal 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 issued a dividend of $2.45 per share. This represents a $9.80 dividend on an annualized basis and a yield of 3.35%. The ex-dividend date of this dividend was Monday, September 30th. Essex Property Trust’s payout ratio is 119.80%.

Insider Buying and Selling at Essex Property Trust

In related news, Director Amal M. Johnson sold 2,453 shares of the business’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $300.00, for a total value of $735,900.00. Following the sale, the director now owns 2,585 shares of the company’s stock, valued at $775,500. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, CAO Anne Morrison sold 2,571 shares of the firm’s stock in a transaction dated 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 transaction, the chief accounting officer now directly owns 2,321 shares in the company, valued at $730,627.59. This trade represents 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 available through the SEC website. Also, Director Amal M. Johnson sold 2,453 shares of the company’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $300.00, for a total value of $735,900.00. Following the completion of the sale, the director now owns 2,585 shares in the company, valued at $775,500. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 20,402 shares of company stock worth $6,399,663. 3.80% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on ESS. Truist Financial boosted their price objective on Essex Property Trust from $282.00 to $294.00 and gave the stock a “hold” rating in a report on Tuesday, August 27th. Scotiabank boosted their price objective on shares of Essex Property Trust from $309.00 to $329.00 and gave the company a “sector outperform” rating in a report on Monday, September 16th. Wells Fargo & Company raised their target price on shares of Essex Property Trust from $269.00 to $314.00 and gave the stock an “equal weight” rating in a report on Monday, August 26th. Raymond James boosted their price target on Essex Property Trust from $295.00 to $325.00 and gave the company an “outperform” rating in a research note on Thursday, August 29th. Finally, JPMorgan Chase & Co. raised their price objective on Essex Property Trust from $265.00 to $297.00 and gave the stock a “neutral” rating in a research note on Monday, September 16th. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $293.40.

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.