GAMMA Investing LLC Acquires 316 Shares of Essex Property Trust, Inc. (NYSE:ESS)

GAMMA Investing LLC grew its holdings in Essex Property Trust, Inc. (NYSE:ESS) by 53.5% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 907 shares of the real estate investment trust’s stock after buying an additional 316 shares during the period. GAMMA Investing LLC’s holdings in Essex Property Trust were worth $247,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the business. Lindbrook Capital LLC raised its position in Essex Property Trust by 111.5% in the 4th quarter. Lindbrook Capital LLC now owns 110 shares of the real estate investment trust’s stock worth $27,000 after purchasing an additional 58 shares during the period. Venturi Wealth Management LLC lifted its stake in shares of Essex Property Trust by 112.3% during the 1st quarter. Venturi Wealth Management LLC now owns 138 shares of the real estate investment trust’s stock worth $34,000 after acquiring an additional 73 shares during the last quarter. Vima LLC bought a new position in Essex Property Trust in the 4th quarter valued at $40,000. Bear Mountain Capital Inc. bought a new position in Essex Property Trust in the 4th quarter valued at $55,000. Finally, Tobam purchased a new stake in Essex Property Trust in the fourth quarter worth $60,000. 96.51% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Essex Property Trust

In other Essex Property Trust news, CEO Angela L. Kleiman sold 3,780 shares of the firm’s stock in a transaction on Friday, June 21st. The stock was sold at an average price of $278.27, for a total value of $1,051,860.60. Following the transaction, the chief executive officer now owns 9,494 shares in the company, valued at approximately $2,641,895.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Essex Property Trust news, CEO Angela L. Kleiman sold 3,780 shares of the firm’s stock in a transaction on Friday, June 21st. The stock was sold at an average price of $278.27, for a total value of $1,051,860.60. Following the completion of the sale, the chief executive officer now directly owns 9,494 shares of the company’s stock, valued at approximately $2,641,895.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Keith R. Guericke sold 10,000 shares of the firm’s stock in a transaction on Friday, June 14th. The stock was sold at an average price of $274.57, for a total value of $2,745,700.00. Following the completion of the sale, the director now directly owns 16,118 shares of the company’s stock, valued at $4,425,519.26. The disclosure for this sale can be found here. 3.80% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. StockNews.com raised shares of Essex Property Trust from a “sell” rating to a “hold” rating in a research note on Wednesday, May 1st. JPMorgan Chase & Co. raised their target price on shares of Essex Property Trust from $244.00 to $265.00 and gave the stock a “neutral” rating in a research report on Monday, June 17th. Evercore ISI boosted their price target on Essex Property Trust from $254.00 to $260.00 and gave the company an “in-line” rating in a report on Tuesday, July 9th. Mizuho increased their price objective on Essex Property Trust from $250.00 to $266.00 and gave the stock a “buy” rating in a research note on Thursday, May 30th. Finally, Royal Bank of Canada lifted their target price on Essex Property Trust from $284.00 to $288.00 and gave the company an “outperform” rating in a research report on Thursday, August 1st. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, Essex Property Trust has an average rating of “Hold” and an average target price of $266.50.

Essex Property Trust Price Performance

Shares of NYSE:ESS traded up $7.94 during midday trading on Tuesday, reaching $280.56. 221,553 shares of the company’s stock traded hands, compared to its average volume of 384,577. Essex Property Trust, Inc. has a 1 year low of $203.85 and a 1 year high of $292.37. The company has a market cap of $18.01 billion, a P/E ratio of 34.03, a PEG ratio of 3.96 and a beta of 0.86. The company has a debt-to-equity ratio of 1.11, a quick ratio of 3.19 and a current ratio of 1.62. The company has a fifty day simple moving average of $275.21 and a two-hundred day simple moving average of $253.72.

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 (EPS) for the quarter, missing analysts’ consensus estimates of $3.85 by ($2.40). The business had revenue of $442.36 million for the quarter, compared to analysts’ expectations 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 last year, the business earned $3.77 EPS. Equities analysts predict that Essex Property Trust, Inc. will post 15.53 EPS for the current fiscal year.

Essex Property Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 24th. Shareholders of record on Friday, June 28th were issued a $2.45 dividend. The ex-dividend date of this dividend was Friday, June 28th. This represents a $9.80 dividend on an annualized basis and a yield of 3.49%. Essex Property Trust’s payout ratio is currently 119.80%.

Essex Property Trust 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.