1,653 Shares in Essex Property Trust, Inc. (NYSE:ESS) Acquired by Contravisory Investment Management Inc.

Contravisory Investment Management Inc. bought a new position in Essex Property Trust, Inc. (NYSE:ESS) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 1,653 shares of the real estate investment trust’s stock, valued at approximately $488,000.

Other hedge funds have also modified their holdings of the company. State Board of Administration of Florida Retirement System boosted its position in shares of Essex Property Trust by 2.6% in the first quarter. State Board of Administration of Florida Retirement System now owns 81,456 shares of the real estate investment trust’s stock worth $19,941,000 after acquiring an additional 2,083 shares during the last quarter. Canada Pension Plan Investment Board boosted its position in shares of Essex Property Trust by 8.7% in the first quarter. Canada Pension Plan Investment Board now owns 225,045 shares of the real estate investment trust’s stock worth $55,093,000 after acquiring an additional 18,000 shares during the last quarter. Mizuho Markets Americas LLC boosted its position in shares of Essex Property Trust by 107.9% in the first quarter. Mizuho Markets Americas LLC now owns 43,802 shares of the real estate investment trust’s stock worth $10,723,000 after acquiring an additional 22,736 shares during the last quarter. ORG Partners LLC acquired a new stake in shares of Essex Property Trust in the second quarter worth approximately $743,000. Finally, Caxton Associates LP acquired a new stake in shares of Essex Property Trust in the first quarter worth approximately $532,000. 96.51% of the stock is owned by institutional investors and hedge funds.

Essex Property Trust Stock Down 1.0 %

Shares of Essex Property Trust stock opened at $285.31 on Friday. The business has a 50-day moving average of $294.83 and a 200-day moving average of $273.34. The company has a debt-to-equity ratio of 1.11, a current ratio of 1.62 and a quick ratio of 1.62. The company has a market capitalization of $18.32 billion, a PE ratio of 35.31, a P/E/G ratio of 5.21 and a beta of 0.88. Essex Property Trust, Inc. has a 1-year low of $203.85 and a 1-year high of $317.73.

Essex Property Trust (NYSE:ESS) last announced its earnings results on Tuesday, July 30th. The real estate investment trust reported $1.45 earnings per share for the quarter, missing the consensus estimate of $3.85 by ($2.40). The business had revenue of $442.36 million for the quarter, compared to analyst estimates 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 in the prior year, the business earned $3.77 earnings per share. As a group, equities analysts forecast that Essex Property Trust, Inc. will post 15.55 EPS for the current fiscal year.

Essex Property Trust Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Monday, September 30th will be paid a $2.45 dividend. The ex-dividend date of this dividend is Monday, September 30th. This represents a $9.80 dividend on an annualized basis and a yield of 3.43%. Essex Property Trust’s dividend payout ratio (DPR) is 121.29%.

Insider Buying and Selling

In related news, Director Amal M. Johnson sold 7,298 shares of Essex Property Trust stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $316.31, for a total value of $2,308,430.38. Following the completion of the transaction, the director now directly owns 2,585 shares in the company, valued at approximately $817,661.35. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Amal M. Johnson sold 7,298 shares of Essex Property Trust stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $316.31, for a total value of $2,308,430.38. Following the completion of the transaction, the director now directly owns 2,585 shares in the company, valued at approximately $817,661.35. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, 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 transaction of $2,546,008.00. Following the completion of the transaction, 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 position. The disclosure for this sale can be found here. Over the last three months, insiders sold 20,402 shares of company stock worth $6,399,663. Corporate insiders own 3.80% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on ESS shares. Scotiabank raised their target price on shares of Essex Property Trust from $309.00 to $329.00 and gave the stock a “sector outperform” rating in a research report on Monday, September 16th. Piper Sandler increased their price objective on shares of Essex Property Trust from $315.00 to $355.00 and gave the stock an “overweight” rating in a research report on Monday, August 26th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Essex Property Trust from $240.00 to $308.00 and gave the stock a “hold” rating in a research report on Tuesday, September 10th. The Goldman Sachs Group started coverage on Essex Property Trust in a report on Wednesday, September 4th. They issued a “neutral” rating and a $318.00 price target for the company. Finally, Evercore ISI increased their price target on Essex Property Trust from $283.00 to $287.00 and gave the company an “in-line” rating in a report on Monday, September 16th. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average 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.