Perigon Wealth Management LLC purchased a new stake in Essex Property Trust, Inc. (NYSE:ESS – Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 27,937 shares of the real estate investment trust’s stock, valued at approximately $8,146,000.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Trust Co. of Vermont acquired a new position in shares of Essex Property Trust during the 2nd quarter worth about $160,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in Essex Property Trust in the second quarter worth $65,992,000. OneDigital Investment Advisors LLC acquired a new stake in Essex Property Trust in the second quarter worth $1,004,000. Plato Investment Management Ltd bought a new position in Essex Property Trust during the second quarter worth about $717,000. Finally, Roman Butler Fullerton & Co. bought a new position in Essex Property Trust in the second quarter valued at approximately $268,000. Institutional investors own 96.51% of the company’s stock.
Essex Property Trust Trading Down 1.4%
Essex Property Trust stock opened at $283.41 on Tuesday. Essex Property Trust, Inc. has a 52 week low of $238.46 and a 52 week high of $303.35. The stock has a 50-day simple moving average of $288.40 and a 200 day simple moving average of $268.72. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.60 and a current ratio of 0.60. The stock has a market capitalization of $18.21 billion, a P/E ratio of 44.08, a PEG ratio of 10.54 and a beta of 0.69.
Insider Activity at Essex Property Trust
In related news, Director Mary Kasaris sold 600 shares of Essex Property Trust stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $279.45, for a total transaction of $167,670.00. Following the completion of the sale, the director owned 2,394 shares of the company’s stock, valued at approximately $669,003.30. The trade was a 20.04% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 3.47% of the company’s stock.
Wall Street Analyst Weigh In
A number of equities analysts recently weighed in on the stock. Citigroup raised shares of Essex Property Trust from a “buy” rating to an “outperform” rating in a research note on Friday, July 31st. Wells Fargo & Company increased their price objective on Essex Property Trust from $280.00 to $297.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 22nd. Raymond James Financial raised Essex Property Trust from a “market perform” rating to an “outperform” rating and set a $320.00 price target for the company in a research report on Friday, June 26th. Wall Street Zen downgraded shares of Essex Property Trust from a “hold” rating to a “sell” rating in a research report on Saturday, August 1st. Finally, Piper Sandler boosted their price target on shares of Essex Property Trust from $310.00 to $352.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 21st. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $305.04.
Check Out Our Latest Research Report 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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