Vanderbilt University Decreases Stake in Essex Property Trust, Inc. (NYSE:ESS)

Vanderbilt University cut its holdings in shares of Essex Property Trust, Inc. (NYSE:ESS) by 4.3% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,434 shares of the real estate investment trust’s stock after selling 156 shares during the period. Vanderbilt University’s holdings in Essex Property Trust were worth $1,014,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. State Board of Administration of Florida Retirement System grew its stake in Essex Property Trust by 2.6% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 81,456 shares of the real estate investment trust’s stock valued at $19,941,000 after purchasing an additional 2,083 shares in the last quarter. Canada Pension Plan Investment Board increased its stake 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 buying an additional 18,000 shares during the last quarter. Mizuho Markets Americas LLC increased its stake 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 buying an additional 22,736 shares during the last quarter. ORG Partners LLC acquired a new stake in Essex Property Trust in the second quarter valued at $743,000. Finally, Caxton Associates LP bought a new position in Essex Property Trust during the 1st quarter valued at $532,000. 96.51% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Essex Property Trust

In other news, Director Amal M. Johnson sold 7,298 shares of the stock in a transaction that occurred on Tuesday, September 17th. The shares were 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 $817,661.35. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other Essex Property Trust news, Director Amal M. Johnson sold 2,453 shares of the business’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $300.00, for a total value of $735,900.00. Following the sale, the director now directly owns 2,585 shares in the company, valued at approximately $775,500. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Amal M. Johnson sold 7,298 shares of the company’s stock in a transaction dated 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 sale, the director now directly owns 2,585 shares of the company’s stock, valued at $817,661.35. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 20,402 shares of company stock valued at $6,399,663. Company insiders own 3.80% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. BNP Paribas started coverage on shares of Essex Property Trust in a research report on Wednesday, September 11th. They issued an “outperform” rating and a $333.00 target price for the company. Piper Sandler boosted their price objective on Essex Property Trust from $315.00 to $355.00 and gave the company an “overweight” rating in a report on Monday, August 26th. UBS Group increased their target price on Essex Property Trust from $261.00 to $283.00 and gave the stock a “neutral” rating in a report on Thursday, July 18th. Deutsche Bank Aktiengesellschaft boosted their price target on Essex Property Trust from $240.00 to $308.00 and gave the company a “hold” rating in a report on Tuesday, September 10th. Finally, Wells Fargo & Company raised their price objective on Essex Property Trust from $269.00 to $314.00 and gave the stock an “equal weight” rating in a research note on Monday, August 26th. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, Essex Property Trust has an average rating of “Hold” and an average target price of $293.40.

Essex Property Trust Stock Performance

Shares of ESS traded up $3.81 during mid-day trading on Monday, reaching $299.46. 14,898 shares of the company’s stock traded hands, compared to its average volume of 376,355. Essex Property Trust, Inc. has a 12 month low of $204.64 and a 12 month high of $317.73. The stock has a market capitalization of $19.23 billion, a P/E ratio of 36.59, a price-to-earnings-growth ratio of 5.31 and a beta of 0.88. The business’s 50-day moving average price is $297.76 and its 200-day moving average price is $278.06. The company has a debt-to-equity ratio of 1.11, a quick ratio of 1.62 and a current ratio of 1.62.

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). Essex Property Trust had a net margin of 30.31% and a return on equity of 9.14%. The business had revenue of $442.36 million for the quarter, compared to the consensus estimate of $433.26 million. During the same period in the previous year, the firm earned $3.77 EPS. Equities analysts predict that Essex Property Trust, Inc. will post 15.55 earnings per share for the current year.

Essex Property Trust Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Monday, September 30th were given a $2.45 dividend. The ex-dividend date was Monday, September 30th. This represents a $9.80 dividend on an annualized basis and a yield of 3.27%. Essex Property Trust’s dividend payout ratio is presently 121.29%.

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.