Aaron Wealth Advisors LLC Buys Shares of 1,068 Essex Property Trust, Inc. (NYSE:ESS)

Aaron Wealth Advisors LLC purchased a new position in shares of Essex Property Trust, Inc. (NYSE:ESS) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 1,068 shares of the real estate investment trust’s stock, valued at approximately $316,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in ESS. Daiwa Securities Group Inc. increased its stake in shares of Essex Property Trust by 86.5% in the first quarter. Daiwa Securities Group Inc. now owns 997,792 shares of the real estate investment trust’s stock worth $244,269,000 after acquiring an additional 462,828 shares during the last quarter. Wulff Hansen & CO. raised its stake in shares of Essex Property Trust by 27,120.0% during the 2nd quarter. Wulff Hansen & CO. now owns 425,721 shares of the real estate investment trust’s stock worth $115,881,000 after purchasing an additional 424,157 shares in the last quarter. Duff & Phelps Investment Management Co. purchased a new stake in shares of Essex Property Trust during the 2nd quarter worth about $98,594,000. Price T Rowe Associates Inc. MD lifted its holdings in shares of Essex Property Trust by 8.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,832,845 shares of the real estate investment trust’s stock valued at $448,701,000 after buying an additional 147,130 shares during the last quarter. Finally, Russell Investments Group Ltd. increased its holdings in Essex Property Trust by 34.0% in the first quarter. Russell Investments Group Ltd. now owns 553,015 shares of the real estate investment trust’s stock worth $135,348,000 after buying an additional 140,294 shares during the last quarter. 96.51% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, CEO Angela L. Kleiman sold 8,080 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $315.10, for a total transaction of $2,546,008.00. Following the completion of the transaction, the chief executive officer now owns 9,494 shares in the company, valued at $2,991,559.40. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Angela L. Kleiman sold 8,080 shares of the stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $315.10, for a total transaction of $2,546,008.00. Following the completion of the sale, the chief executive officer now owns 9,494 shares in the company, valued at $2,991,559.40. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Amal M. Johnson sold 2,453 shares of Essex Property Trust stock in a transaction dated 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 directly owns 2,585 shares of the company’s stock, valued at $775,500. This represents 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 have sold 20,402 shares of company stock worth $6,399,663. Company insiders own 3.80% of the company’s stock.

Analysts Set New Price Targets

ESS has been the subject of a number of analyst reports. UBS Group lifted their target price on shares of Essex Property Trust from $261.00 to $283.00 and gave the company a “neutral” rating in a research note on Thursday, July 18th. Truist Financial increased their target price on shares of Essex Property Trust from $282.00 to $294.00 and gave the stock a “hold” rating in a research report on Tuesday, August 27th. Wells Fargo & Company increased their price objective on Essex Property Trust from $269.00 to $314.00 and gave the company an “equal weight” rating in a report on Monday, August 26th. Royal Bank of Canada increased their price target on Essex Property Trust from $284.00 to $288.00 and gave the company an “outperform” rating in a report on Thursday, August 1st. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Essex Property Trust from $240.00 to $308.00 and gave the stock a “hold” rating in a research note on Tuesday, September 10th. 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 stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $293.40.

Essex Property Trust Stock Performance

Shares of NYSE ESS opened at $296.50 on Friday. The firm has a market capitalization of $19.04 billion, a price-to-earnings ratio of 36.25, a PEG ratio of 5.21 and a beta of 0.88. Essex Property Trust, Inc. has a one year low of $203.85 and a one year high of $317.73. The business has a fifty day simple moving average of $296.55 and a 200 day simple moving average of $275.88. The company has a current ratio of 1.62, a quick ratio of 1.62 and a debt-to-equity ratio of 1.11.

Essex Property Trust (NYSE:ESS) last announced 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). Essex Property Trust had a net margin of 30.31% and a return on equity of 9.14%. The business had revenue of $442.36 million during the quarter, compared to analyst estimates of $433.26 million. During the same quarter in the prior year, the company posted $3.77 EPS. Sell-side analysts expect that Essex Property Trust, Inc. will post 15.55 EPS for the current year.

Essex Property Trust Announces Dividend

The business also recently disclosed 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 3.31%. The ex-dividend date was Monday, September 30th. Essex Property Trust’s payout ratio 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.