Aaron Wealth Advisors LLC Purchases New Shares in Essex Property Trust, Inc. (NYSE:ESS)

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

Other hedge funds have also recently added to or reduced their stakes in the company. Continuum Advisory LLC raised its stake in shares of Essex Property Trust by 214.3% in the second quarter. Continuum Advisory LLC now owns 110 shares of the real estate investment trust’s stock worth $30,000 after acquiring an additional 75 shares during the last quarter. UMB Bank n.a. raised its position in Essex Property Trust by 600.0% in the 2nd quarter. UMB Bank n.a. now owns 112 shares of the real estate investment trust’s stock worth $30,000 after purchasing an additional 96 shares during the last quarter. Family Firm Inc. acquired a new position in Essex Property Trust during the 2nd quarter worth $31,000. Whittier Trust Co. of Nevada Inc. boosted its position in Essex Property Trust by 121.8% in the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 193 shares of the real estate investment trust’s stock valued at $53,000 after buying an additional 106 shares during the last quarter. Finally, Ridgewood Investments LLC bought a new position in Essex Property Trust in the 2nd quarter valued at $66,000. Institutional investors own 96.51% of the company’s stock.

Analyst Ratings Changes

ESS has been the topic of several research reports. Piper Sandler upped their price target on Essex Property Trust from $315.00 to $355.00 and gave the company an “overweight” rating in a research note on Monday, August 26th. Wedbush lifted 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 cut shares of Essex Property Trust from a “buy” rating to a “neutral” rating and raised their price objective for the company from $307.00 to $321.00 in a research note on Tuesday, September 24th. Truist Financial increased their price target on Essex Property Trust from $282.00 to $294.00 and gave the company a “hold” rating in a research note on Tuesday, August 27th. Finally, BNP Paribas initiated coverage on Essex Property Trust in a research note on Wednesday, September 11th. They set an “outperform” rating and a $333.00 price objective for the company. One research analyst has rated the stock with a sell rating, thirteen have assigned 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 target price of $293.40.

Insider Activity

In other Essex Property Trust 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 sale, the chief executive officer now directly owns 9,494 shares in the company, valued at $2,991,559.40. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, CEO Angela L. Kleiman sold 8,080 shares of the firm’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $315.10, for a total value of $2,546,008.00. Following the sale, the chief executive officer now directly owns 9,494 shares of the company’s stock, valued at $2,991,559.40. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CAO Anne Morrison sold 2,571 shares of Essex Property Trust 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 trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 20,402 shares of company stock valued at $6,399,663 over the last three months. Insiders own 3.80% of the company’s stock.

Essex Property Trust Stock Up 0.8 %

Essex Property Trust stock opened at $296.50 on Friday. The company has a 50 day moving average of $296.55 and a 200-day moving average of $275.88. The company has a quick ratio of 1.62, a current ratio of 1.62 and a debt-to-equity ratio of 1.11. Essex Property Trust, Inc. has a twelve month low of $203.85 and a twelve month high of $317.73. The stock has a market capitalization of $19.04 billion, a PE ratio of 36.25, a price-to-earnings-growth ratio of 5.21 and a beta of 0.88.

Essex Property Trust (NYSE:ESS) last issued its quarterly 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). Essex Property Trust had a net margin of 30.31% and a return on equity of 9.14%. The firm had revenue of $442.36 million during the quarter, compared to the consensus estimate of $433.26 million. During the same quarter last year, the firm earned $3.77 earnings per share. On average, equities research analysts anticipate that Essex Property Trust, Inc. will post 15.55 EPS for the current fiscal year.

Essex Property Trust Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Monday, September 30th were given a dividend of $2.45 per share. This represents a $9.80 annualized dividend and a dividend yield of 3.31%. The ex-dividend date was Monday, September 30th. Essex Property Trust’s dividend payout ratio (DPR) is 119.80%.

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.