Essex Property Trust, Inc. (NYSE:ESS) Shares Purchased by Vanguard Group Inc.

Vanguard Group Inc. boosted its holdings in shares of Essex Property Trust, Inc. (NYSE:ESS) by 0.2% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 10,235,835 shares of the real estate investment trust’s stock after purchasing an additional 19,342 shares during the period. Vanguard Group Inc. owned approximately 15.94% of Essex Property Trust worth $2,505,835,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of ESS. Lindbrook Capital LLC increased 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 valued at $27,000 after acquiring an additional 58 shares during the period. Venturi Wealth Management LLC grew its stake in shares of Essex Property Trust by 112.3% in the 1st quarter. Venturi Wealth Management LLC now owns 138 shares of the real estate investment trust’s stock valued at $34,000 after purchasing an additional 73 shares during the last quarter. Vima LLC acquired a new position in shares of Essex Property Trust in the fourth quarter valued at approximately $40,000. Bear Mountain Capital Inc. purchased a new stake in shares of Essex Property Trust during the fourth quarter worth approximately $55,000. Finally, Blue Trust Inc. lifted its holdings in shares of Essex Property Trust by 645.2% during the fourth quarter. Blue Trust Inc. now owns 231 shares of the real estate investment trust’s stock worth $57,000 after purchasing an additional 200 shares during the period. 96.51% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Essex Property Trust news, Director Keith R. Guericke sold 10,000 shares of the company’s stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $274.57, for a total value of $2,745,700.00. Following the transaction, the director now directly owns 16,118 shares in the company, valued at approximately $4,425,519.26. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, CEO Angela L. Kleiman sold 3,780 shares of Essex Property Trust 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 owns 9,494 shares of the company’s stock, valued at $2,641,895.38. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Keith R. Guericke sold 10,000 shares of the company’s stock in a transaction on Friday, June 14th. The shares were sold at an average price of $274.57, for a total value of $2,745,700.00. Following the completion of the transaction, the director now 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 company insiders.

Essex Property Trust Price Performance

NYSE:ESS traded up $0.65 during trading hours on Friday, reaching $284.79. 347,860 shares of the company traded hands, compared to its average volume of 328,219. The company has a debt-to-equity ratio of 1.14, a current ratio of 3.19 and a quick ratio of 3.19. The firm’s 50-day moving average is $270.60 and its 200-day moving average is $250.74. The stock has a market cap of $18.29 billion, a P/E ratio of 34.82, a P/E/G ratio of 3.98 and a beta of 0.86. Essex Property Trust, Inc. has a 1-year low of $203.85 and a 1-year high of $289.08.

Essex Property Trust Dividend Announcement

The business also recently disclosed 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 dividend on an annualized basis and a dividend yield of 3.44%. The ex-dividend date of this dividend is Friday, June 28th. Essex Property Trust’s payout ratio is currently 119.80%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on ESS shares. Piper Sandler restated an “overweight” rating and set a $315.00 price objective on shares of Essex Property Trust in a research report on Friday, June 28th. Wedbush raised their price objective on shares of Essex Property Trust from $240.00 to $264.00 and gave the company a “neutral” rating in a research report on Monday, May 6th. Bank of America upgraded Essex Property Trust from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $250.00 to $275.00 in a research report on Monday, April 1st. Wells Fargo & Company raised their price target on Essex Property Trust from $232.00 to $269.00 and gave the company an “equal weight” rating in a report on Friday, May 31st. Finally, UBS Group upped their price objective on Essex Property Trust from $261.00 to $283.00 and gave the stock a “neutral” rating in a report on Thursday. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $262.15.

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.