285,671 Shares in Essex Property Trust, Inc. (NYSE:ESS) Bought by International Assets Investment Management LLC

International Assets Investment Management LLC bought a new position in Essex Property Trust, Inc. (NYSE:ESS) during the 3rd quarter, Holdings Channel reports. The fund bought 285,671 shares of the real estate investment trust’s stock, valued at approximately $84,393,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. EP Wealth Advisors LLC lifted its position in shares of Essex Property Trust by 3.7% during the 1st quarter. EP Wealth Advisors LLC now owns 1,228 shares of the real estate investment trust’s stock worth $301,000 after purchasing an additional 44 shares during the last quarter. M&R Capital Management Inc. lifted its holdings in shares of Essex Property Trust by 5.4% during the second quarter. M&R Capital Management Inc. now owns 1,014 shares of the real estate investment trust’s stock worth $276,000 after buying an additional 52 shares during the last quarter. Quilter Plc boosted its position in shares of Essex Property Trust by 0.6% in the second quarter. Quilter Plc now owns 8,698 shares of the real estate investment trust’s stock valued at $2,368,000 after acquiring an additional 52 shares during the period. Mather Group LLC. increased its position in Essex Property Trust by 7.4% during the third quarter. Mather Group LLC. now owns 781 shares of the real estate investment trust’s stock worth $231,000 after acquiring an additional 54 shares during the period. Finally, Truist Financial Corp increased its position in Essex Property Trust by 0.3% during the second quarter. Truist Financial Corp now owns 20,707 shares of the real estate investment trust’s stock worth $5,636,000 after acquiring an additional 55 shares during the period. Institutional investors and hedge funds own 96.51% of the company’s stock.

Insiders Place Their Bets

In other news, Director Amal M. Johnson sold 2,453 shares of Essex Property Trust stock in a transaction on Friday, August 30th. The stock was 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 directly owns 2,585 shares of the company’s stock, valued at approximately $775,500. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Essex Property Trust news, 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 directly owns 2,321 shares in the company, valued at approximately $730,627.59. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Amal M. Johnson sold 2,453 shares of Essex Property Trust stock in a transaction on Friday, August 30th. The stock was sold at an average price of $300.00, for a total value of $735,900.00. Following the sale, the director now directly owns 2,585 shares of the company’s stock, valued at approximately $775,500. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 20,402 shares of company stock valued at $6,399,663. 3.80% of the stock is currently owned by corporate insiders.

Essex Property Trust Price Performance

Shares of ESS stock opened at $295.65 on Friday. 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 $18.99 billion, a PE ratio of 36.59, a PEG ratio of 5.31 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. The stock’s fifty day moving average is $297.76 and its 200-day moving average is $277.63.

Essex Property Trust (NYSE:ESS) last issued its quarterly earnings data on Tuesday, July 30th. The real estate investment trust reported $1.45 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 company 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 company earned $3.77 EPS. Equities research analysts expect that Essex Property Trust, Inc. will post 15.55 EPS for the current fiscal year.

Essex Property Trust Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Monday, September 30th were given a $2.45 dividend. This represents a $9.80 annualized dividend and a yield of 3.31%. The ex-dividend date of this dividend was Monday, September 30th. Essex Property Trust’s dividend payout ratio (DPR) is presently 121.29%.

Analyst Ratings Changes

ESS has been the topic of several research analyst reports. Stifel Nicolaus raised their price target on shares of Essex Property Trust from $267.00 to $268.00 and gave the stock a “hold” rating in a research report on Wednesday, July 31st. Deutsche Bank Aktiengesellschaft upped their price target on Essex Property Trust from $240.00 to $308.00 and gave the company a “hold” rating in a report on Tuesday, September 10th. Bank of America lowered Essex Property Trust from a “buy” rating to a “neutral” rating and lifted their price objective for the stock from $307.00 to $321.00 in a report on Tuesday, September 24th. Raymond James lowered Essex Property Trust from an “outperform” rating to a “market perform” rating in a research note on Monday, October 21st. Finally, The Goldman Sachs Group initiated coverage on shares of Essex Property Trust in a research note on Wednesday, September 4th. They set a “neutral” rating and a $318.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price 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.