Essex Property Trust, Inc. (NYSE:ESS) Shares Acquired by Vert Asset Management LLC

Vert Asset Management LLC lifted its holdings in shares of Essex Property Trust, Inc. (NYSE:ESS) by 5.5% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 26,669 shares of the real estate investment trust’s stock after acquiring an additional 1,385 shares during the quarter. Essex Property Trust comprises approximately 2.7% of Vert Asset Management LLC’s holdings, making the stock its 13th biggest holding. Vert Asset Management LLC’s holdings in Essex Property Trust were worth $6,529,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in ESS. Norges Bank acquired a new position in shares of Essex Property Trust during the 4th quarter valued at $675,183,000. Cohen & Steers Inc. lifted its holdings in shares of Essex Property Trust by 31.2% during the 4th quarter. Cohen & Steers Inc. now owns 3,072,004 shares of the real estate investment trust’s stock valued at $761,760,000 after acquiring an additional 730,141 shares in the last quarter. Daiwa Securities Group Inc. lifted its holdings in shares of Essex Property Trust by 201.1% during the 4th quarter. Daiwa Securities Group Inc. now owns 534,964 shares of the real estate investment trust’s stock valued at $132,639,000 after acquiring an additional 357,268 shares in the last quarter. Russell Investments Group Ltd. lifted its holdings in shares of Essex Property Trust by 119.3% during the 4th quarter. Russell Investments Group Ltd. now owns 412,721 shares of the real estate investment trust’s stock valued at $102,602,000 after acquiring an additional 224,554 shares in the last quarter. Finally, Wellington Management Group LLP lifted its holdings in shares of Essex Property Trust by 5,069.7% during the 3rd quarter. Wellington Management Group LLP now owns 208,651 shares of the real estate investment trust’s stock valued at $44,253,000 after acquiring an additional 204,615 shares in the last quarter. Institutional investors and hedge funds own 96.51% of the company’s stock.

Insider Activity at Essex Property Trust

In related news, CEO Angela L. Kleiman sold 3,780 shares of the company’s stock in a transaction that occurred on Friday, June 21st. The shares were 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 owns 9,494 shares in the company, valued at approximately $2,641,895.38. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, CEO Angela L. Kleiman sold 3,780 shares of the company’s stock in a transaction that occurred on Friday, June 21st. The shares were 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 owns 9,494 shares in the company, valued at approximately $2,641,895.38. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Keith R. Guericke sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $274.57, for a total transaction of $2,745,700.00. Following the completion of the transaction, the director now owns 16,118 shares in the company, valued at approximately $4,425,519.26. The disclosure for this sale can be found here. Company insiders own 3.80% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Wedbush boosted their price objective on shares of Essex Property Trust from $240.00 to $264.00 and gave the stock a “neutral” rating in a report on Monday, May 6th. Wells Fargo & Company boosted their price objective on shares of Essex Property Trust from $232.00 to $269.00 and gave the stock an “equal weight” rating in a report on Friday, May 31st. Bank of America upgraded shares of Essex Property Trust from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $250.00 to $275.00 in a report on Monday, April 1st. JPMorgan Chase & Co. boosted their price objective on shares of Essex Property Trust from $244.00 to $265.00 and gave the stock a “neutral” rating in a report on Monday, June 17th. Finally, Mizuho boosted their price objective on shares of Essex Property Trust from $250.00 to $266.00 and gave the stock a “buy” rating in a report on Thursday, May 30th. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $258.63.

Essex Property Trust Price Performance

ESS stock traded up $0.28 on Thursday, hitting $273.51. 34,378 shares of the company’s stock traded hands, compared to its average volume of 377,939. Essex Property Trust, Inc. has a 1-year low of $203.85 and a 1-year high of $284.77. The stock has a market cap of $17.56 billion, a price-to-earnings ratio of 33.36, a P/E/G ratio of 3.86 and a beta of 0.84. The stock has a fifty day moving average of $260.39 and a 200-day moving average of $246.75. 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 Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 24th. Investors of record on Friday, June 28th will be paid a dividend of $2.45 per share. This represents a $9.80 annualized dividend and a yield of 3.58%. The ex-dividend date is Friday, June 28th. Essex Property Trust’s dividend payout ratio is presently 119.80%.

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.