Dynamic Technology Lab Private Ltd Buys Shares of 800 Essex Property Trust, Inc. (NYSE:ESS)

Dynamic Technology Lab Private Ltd purchased a new position in shares of Essex Property Trust, Inc. (NYSE:ESS) in the 3rd quarter, Holdings Channel reports. The firm purchased 800 shares of the real estate investment trust’s stock, valued at approximately $236,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Swedbank AB acquired a new stake in Essex Property Trust in the 1st quarter valued at $4,299,000. DekaBank Deutsche Girozentrale boosted its position in Essex Property Trust by 15.1% during the first quarter. DekaBank Deutsche Girozentrale now owns 47,068 shares of the real estate investment trust’s stock valued at $11,287,000 after purchasing an additional 6,163 shares during the last quarter. GAMMA Investing LLC grew its stake in Essex Property Trust by 53.5% in the second quarter. GAMMA Investing LLC now owns 907 shares of the real estate investment trust’s stock valued at $247,000 after purchasing an additional 316 shares in the last quarter. DNB Asset Management AS increased its position in shares of Essex Property Trust by 11.2% during the 2nd quarter. DNB Asset Management AS now owns 12,316 shares of the real estate investment trust’s stock worth $3,352,000 after purchasing an additional 1,238 shares during the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Essex Property Trust during the 2nd quarter worth approximately $131,000. 96.51% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on ESS shares. Wedbush boosted their target price on shares of Essex Property Trust from $264.00 to $301.00 and gave the stock a “neutral” rating in a report on Monday, August 5th. The Goldman Sachs Group initiated coverage on shares of Essex Property Trust in a report on Wednesday, September 4th. They issued a “neutral” rating and a $318.00 target price on the stock. Deutsche Bank Aktiengesellschaft lifted 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. Bank of America lowered Essex Property Trust from a “buy” rating to a “neutral” rating and upped their price objective for the company from $307.00 to $321.00 in a research note on Tuesday, September 24th. Finally, Piper Sandler lifted their target price on Essex Property Trust from $315.00 to $355.00 and gave the stock an “overweight” rating in a research note on Monday, August 26th. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $297.00.

Essex Property Trust Trading Down 0.8 %

Shares of Essex Property Trust stock opened at $310.46 on Monday. The company has a debt-to-equity ratio of 1.13, a quick ratio of 1.14 and a current ratio of 1.14. The firm has a 50-day moving average of $297.12 and a 200-day moving average of $287.29. Essex Property Trust, Inc. has a 52-week low of $211.35 and a 52-week high of $317.73. The stock has a market cap of $19.95 billion, a PE ratio of 36.27, a PEG ratio of 6.11 and a beta of 0.88.

Essex Property Trust (NYSE:ESS) last posted its quarterly earnings data on Tuesday, October 29th. The real estate investment trust reported $1.84 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.88 by ($2.04). Essex Property Trust had a net margin of 31.55% and a return on equity of 9.72%. The business had revenue of $450.70 million during the quarter, compared to the consensus estimate of $445.88 million. During the same period in the prior year, the firm earned $3.78 EPS. As a group, sell-side analysts forecast that Essex Property Trust, Inc. will post 15.56 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 paid a dividend of $2.45 per share. The ex-dividend date of this dividend was Monday, September 30th. This represents a $9.80 dividend on an annualized basis and a yield of 3.16%. Essex Property Trust’s dividend payout ratio (DPR) is presently 114.49%.

Insiders Place Their Bets

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 45.98 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Amal M. Johnson sold 7,298 shares of the business’s stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $316.31, for a total transaction of $2,308,430.38. Following the completion of the transaction, the director now owns 2,585 shares of the company’s stock, valued at $817,661.35. The trade was a 73.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 17,949 shares of company stock worth $5,663,763 in the last 90 days. Company insiders own 3.80% of the company’s stock.

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.