SEB Asset Management AB purchased a new position in shares of Essex Property Trust, Inc. (NYSE:ESS – Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 30,011 shares of the real estate investment trust’s stock, valued at approximately $7,263,000.
Several other large investors have also bought and sold shares of ESS. Nemes Rush Group LLC bought a new position in Essex Property Trust in the fourth quarter valued at approximately $27,000. Generali Asset Management SPA SGR bought a new stake in shares of Essex Property Trust during the 4th quarter valued at $29,000. True Wealth Design LLC lifted its stake in shares of Essex Property Trust by 120.0% in the 4th quarter. True Wealth Design LLC now owns 176 shares of the real estate investment trust’s stock valued at $46,000 after purchasing an additional 96 shares during the period. Hantz Financial Services Inc. boosted its position in shares of Essex Property Trust by 67.8% in the 4th quarter. Hantz Financial Services Inc. now owns 193 shares of the real estate investment trust’s stock worth $51,000 after purchasing an additional 78 shares during the last quarter. Finally, Advisory Services Network LLC bought a new position in shares of Essex Property Trust in the 3rd quarter worth $51,000. 96.51% of the stock is currently owned by institutional investors and hedge funds.
Essex Property Trust Stock Performance
Shares of Essex Property Trust stock opened at $293.66 on Wednesday. The company has a market capitalization of $18.87 billion, a PE ratio of 33.00, a PEG ratio of 12.67 and a beta of 0.70. Essex Property Trust, Inc. has a 12 month low of $238.46 and a 12 month high of $303.35. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 1.22. The stock’s fifty day simple moving average is $283.94 and its 200 day simple moving average is $264.27.
Essex Property Trust Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were given a $2.59 dividend. The ex-dividend date was Tuesday, June 30th. This represents a $10.36 annualized dividend and a dividend yield of 3.5%. Essex Property Trust’s payout ratio is currently 116.40%.
Insider Activity
In related news, Director Mary Kasaris sold 600 shares of the business’s stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of $279.45, for a total value of $167,670.00. Following the completion of the transaction, the director directly owned 2,394 shares in the company, valued at approximately $669,003.30. The trade was a 20.04% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 3.47% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of equities research analysts recently commented on the company. Wells Fargo & Company upped their price objective on Essex Property Trust from $262.00 to $280.00 and gave the company an “equal weight” rating in a report on Monday, June 1st. Barclays raised their target price on Essex Property Trust from $277.00 to $296.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 14th. Royal Bank Of Canada boosted their target price on Essex Property Trust from $282.00 to $288.00 and gave the stock an “outperform” rating in a research report on Thursday, April 30th. Morgan Stanley upped their price target on Essex Property Trust from $293.00 to $302.00 and gave the company an “equal weight” rating in a research note on Thursday, June 25th. Finally, Stifel Nicolaus increased their price target on shares of Essex Property Trust from $278.00 to $281.50 and gave the company a “hold” rating in a research report on Wednesday, April 29th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $298.18.
Read Our Latest Stock Analysis on Essex Property Trust
About Essex Property Trust
Essex Property Trust, Inc (NYSE: ESS) is a publicly traded real estate investment trust that acquires, develops, owns and operates multifamily residential properties. The company focuses on market-rate apartment communities and delivers a full suite of property services including leasing, resident services, asset management, and capital improvement programs designed to preserve and enhance long‑term property values.
Essex concentrates its portfolio in West Coast markets, with a significant presence in California and the Pacific Northwest.
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