Pensionfund DSM Netherlands Grows Holdings in Essex Property Trust, Inc. (NYSE:ESS)

Pensionfund DSM Netherlands raised its position in Essex Property Trust, Inc. (NYSE:ESS) by 11.8% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 14,195 shares of the real estate investment trust’s stock after buying an additional 1,500 shares during the period. Essex Property Trust comprises 1.9% of Pensionfund DSM Netherlands’ investment portfolio, making the stock its 15th biggest position. Pensionfund DSM Netherlands’ holdings in Essex Property Trust were worth $3,475,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ESS. Cornercap Investment Counsel Inc. grew its position in shares of Essex Property Trust by 2.4% in the fourth quarter. Cornercap Investment Counsel Inc. now owns 1,913 shares of the real estate investment trust’s stock valued at $474,000 after purchasing an additional 45 shares in the last quarter. Commerzbank Aktiengesellschaft FI increased its position in shares of Essex Property Trust by 1.8% in the 4th quarter. Commerzbank Aktiengesellschaft FI now owns 2,552 shares of the real estate investment trust’s stock valued at $633,000 after purchasing an additional 45 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. lifted its stake in Essex Property Trust by 2.8% during the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 1,866 shares of the real estate investment trust’s stock worth $463,000 after purchasing an additional 51 shares during the last quarter. Lindbrook Capital LLC grew its position in shares of 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 valued at $27,000 after buying an additional 58 shares during the last quarter. Finally, Loudon Investment Management LLC increased its position in shares of Essex Property Trust by 0.4% during the fourth quarter. Loudon Investment Management LLC now owns 15,817 shares of the real estate investment trust’s stock worth $3,922,000 after purchasing an additional 61 shares in the last quarter. Hedge funds and other institutional investors own 96.51% of the company’s stock.

Essex Property Trust Stock Performance

NYSE ESS traded up $3.27 during trading hours on Tuesday, reaching $284.56. The company’s stock had a trading volume of 321,619 shares, compared to its average volume of 378,706. The stock has a market cap of $18.27 billion, a PE ratio of 34.79, a PEG ratio of 3.91 and a beta of 0.84. The business has a 50-day simple moving average of $256.36 and a 200 day simple moving average of $244.79. Essex Property Trust, Inc. has a 52 week low of $203.85 and a 52 week high of $284.77. The company has a current ratio of 3.19, a quick ratio of 3.19 and a debt-to-equity ratio of 1.14.

Essex Property Trust Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 24th. Shareholders of record on Friday, June 28th will be given a $2.45 dividend. This represents a $9.80 annualized dividend and a yield of 3.44%. The ex-dividend date is Friday, June 28th. Essex Property Trust’s dividend payout ratio is presently 119.80%.

Analyst Upgrades and Downgrades

Several analysts recently commented on ESS shares. Piper Sandler upped their price target on shares of Essex Property Trust from $291.00 to $315.00 and gave the company an “overweight” rating in a research report on Monday, May 6th. Wedbush upped their price objective on Essex Property Trust from $240.00 to $264.00 and gave the company a “neutral” rating in a research report on Monday, May 6th. Barclays increased their price target on Essex Property Trust from $224.00 to $225.00 and gave the stock an “underweight” rating in a research note on Tuesday, February 20th. Truist Financial dropped their price objective on Essex Property Trust from $259.00 to $255.00 and set a “hold” rating for the company in a report on Tuesday, April 9th. Finally, Raymond James upgraded shares of Essex Property Trust from a “market perform” rating to an “outperform” rating and set a $265.00 price objective for the company in a research note on Monday, March 18th. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $257.28.

Insider Buying and Selling

In other Essex Property Trust news, Director Keith R. Guericke sold 10,000 shares of Essex Property Trust stock in a transaction on Friday, June 14th. The stock was sold at an average price of $274.57, for a total transaction of $2,745,700.00. Following the sale, the director now owns 16,118 shares of the company’s stock, valued at approximately $4,425,519.26. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 3.90% of the company’s stock.

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.