Amalgamated Bank Sells 457 Shares of Essex Property Trust, Inc. (NYSE:ESS)

Amalgamated Bank cut its stake in Essex Property Trust, Inc. (NYSE:ESS) by 3.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,597 shares of the real estate investment trust’s stock after selling 457 shares during the period. Amalgamated Bank’s holdings in Essex Property Trust were worth $3,721,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of ESS. Continuum Advisory LLC boosted its holdings in shares of Essex Property Trust by 214.3% during the 2nd quarter. Continuum Advisory LLC now owns 110 shares of the real estate investment trust’s stock worth $30,000 after buying an additional 75 shares in the last quarter. UMB Bank n.a. boosted its holdings in shares of Essex Property Trust by 600.0% during the 2nd quarter. UMB Bank n.a. now owns 112 shares of the real estate investment trust’s stock worth $30,000 after buying an additional 96 shares in the last quarter. Family Firm Inc. bought a new position in shares of Essex Property Trust during the 2nd quarter worth approximately $31,000. Whittier Trust Co. of Nevada Inc. boosted its holdings in shares of Essex Property Trust by 121.8% during the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 193 shares of the real estate investment trust’s stock worth $53,000 after buying an additional 106 shares in the last quarter. Finally, Ridgewood Investments LLC bought a new position in shares of Essex Property Trust during the 2nd quarter worth approximately $66,000. 96.51% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, Director Amal M. Johnson sold 2,453 shares of Essex Property Trust stock in a transaction dated 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 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, Director Amal M. Johnson sold 2,453 shares of Essex Property Trust stock in a transaction dated 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 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO Anne Morrison sold 2,571 shares of Essex Property Trust stock in a transaction dated 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 sale, the chief accounting officer now directly owns 2,321 shares of the company’s stock, 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 90 days, insiders sold 20,402 shares of company stock valued at $6,399,663. 3.80% of the stock is owned by insiders.

Essex Property Trust Trading Up 2.7 %

Shares of Essex Property Trust stock opened at $304.66 on Friday. Essex Property Trust, Inc. has a 1 year low of $204.64 and a 1 year high of $317.73. The firm has a market cap of $19.58 billion, a PE ratio of 35.59, a P/E/G ratio of 5.31 and a beta of 0.88. The stock has a fifty day moving average price of $297.47 and a 200-day moving average price of $281.33. The company has a debt-to-equity ratio of 1.13, a current ratio of 1.14 and a quick ratio of 1.14.

Essex Property Trust (NYSE:ESS) last announced its quarterly earnings data on Tuesday, October 29th. The real estate investment trust reported $1.84 earnings per share for the quarter, missing the consensus estimate of $3.88 by ($2.04). Essex Property Trust had a return on equity of 9.72% and a net margin of 31.55%. The firm had revenue of $450.70 million during the quarter, compared to analysts’ expectations of $445.88 million. During the same period last year, the business posted $3.78 EPS. Equities research analysts anticipate that Essex Property Trust, Inc. will post 15.56 EPS for the current year.

Essex Property Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Monday, September 30th were issued a $2.45 dividend. This represents a $9.80 annualized dividend and a yield of 3.22%. The ex-dividend date of this dividend was Monday, September 30th. Essex Property Trust’s dividend payout ratio (DPR) is currently 114.49%.

Wall Street Analyst Weigh In

A number of research firms have issued reports on ESS. Deutsche Bank Aktiengesellschaft increased their price target on Essex Property Trust from $240.00 to $308.00 and gave the stock a “hold” rating in a report on Tuesday, September 10th. Truist Financial increased their target price on Essex Property Trust from $282.00 to $294.00 and gave the stock a “hold” rating in a report on Tuesday, August 27th. Wells Fargo & Company increased their target price on Essex Property Trust from $269.00 to $314.00 and gave the stock an “equal weight” rating in a report on Monday, August 26th. The Goldman Sachs Group initiated coverage on Essex Property Trust in a report on Wednesday, September 4th. They issued a “neutral” rating and a $318.00 target price on the stock. Finally, Piper Sandler increased their target price on Essex Property Trust from $315.00 to $355.00 and gave the stock an “overweight” rating in a report on Monday, August 26th. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $297.00.

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.