Essex Property Trust, Inc. (NYSE:ESS) Shares Acquired by Forsta AP Fonden

Forsta AP Fonden increased its stake in shares of Essex Property Trust, Inc. (NYSE:ESS) by 16.2% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 11,500 shares of the real estate investment trust’s stock after purchasing an additional 1,600 shares during the period. Forsta AP Fonden’s holdings in Essex Property Trust were worth $3,397,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Daiwa Securities Group Inc. boosted 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. lifted its holdings in Essex Property Trust by 27,120.0% in the 2nd quarter. Wulff Hansen & CO. now owns 425,721 shares of the real estate investment trust’s stock valued at $115,881,000 after purchasing an additional 424,157 shares in the last quarter. Duff & Phelps Investment Management Co. acquired a new stake in Essex Property Trust during the 2nd quarter worth $98,594,000. International Assets Investment Management LLC purchased a new stake in shares of Essex Property Trust during the third quarter worth $84,393,000. Finally, Price T Rowe Associates Inc. MD raised its position in shares of 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 valued at $448,701,000 after buying an additional 147,130 shares during the last quarter. Institutional investors and hedge funds own 96.51% of the company’s stock.

Insider Activity at Essex Property Trust

In other Essex Property Trust news, CAO Anne Morrison sold 2,571 shares of the stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $314.79, for a total transaction of $809,325.09. Following the sale, the chief accounting officer now directly owns 2,321 shares in the company, valued at $730,627.59. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 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 stock was sold at an average price of $314.79, for a total transaction of $809,325.09. Following 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Angela L. Kleiman sold 8,080 shares of Essex Property Trust stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $315.10, for a total value of $2,546,008.00. Following the completion of the transaction, the chief executive officer now owns 9,494 shares of the company’s stock, valued at $2,991,559.40. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 20,402 shares of company stock worth $6,399,663. Corporate insiders own 3.90% of the company’s stock.

Essex Property Trust Trading Down 0.4 %

ESS opened at $298.43 on Wednesday. Essex Property Trust, Inc. has a 52 week low of $204.64 and a 52 week high of $317.73. The company has a quick ratio of 1.62, a current ratio of 1.62 and a debt-to-equity ratio of 1.11. The business has a fifty day simple moving average of $298.27 and a 200-day simple moving average of $278.87. The firm has a market cap of $19.16 billion, a P/E ratio of 36.93, a P/E/G ratio of 5.31 and a beta of 0.88.

Essex Property Trust (NYSE:ESS) last announced its earnings results 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). The firm had revenue of $442.36 million for the quarter, compared to analysts’ expectations 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 last year, the business earned $3.77 earnings per share. On average, equities analysts expect 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 disclosed a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Monday, September 30th were paid a $2.45 dividend. This represents a $9.80 annualized dividend and a dividend yield of 3.28%. The ex-dividend date was Monday, September 30th. Essex Property Trust’s payout ratio is 121.29%.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Wedbush boosted their price target on shares of Essex Property Trust from $264.00 to $301.00 and gave the stock a “neutral” rating in a research report on Monday, August 5th. Bank of America lowered Essex Property Trust from a “buy” rating to a “neutral” rating and upped their price target for the company from $307.00 to $321.00 in a research report on Tuesday, September 24th. Wells Fargo & Company lifted their price objective on Essex Property Trust from $269.00 to $314.00 and gave the stock an “equal weight” rating in a research report on Monday, August 26th. Deutsche Bank Aktiengesellschaft upped their target price on Essex Property Trust from $240.00 to $308.00 and gave the company a “hold” rating in a report on Tuesday, September 10th. Finally, Raymond James lowered Essex Property Trust from an “outperform” rating to a “market perform” rating in a report on Monday, October 21st. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $293.40.

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.