Ontario Teachers Pension Plan Board Acquires 6,833 Shares of Essex Property Trust, Inc. (NYSE:ESS)

Ontario Teachers Pension Plan Board increased its position in shares of Essex Property Trust, Inc. (NYSE:ESS) by 151.6% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 11,341 shares of the real estate investment trust’s stock after buying an additional 6,833 shares during the quarter. Ontario Teachers Pension Plan Board’s holdings in Essex Property Trust were worth $2,776,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in ESS. Lindbrook Capital LLC raised its stake in Essex Property Trust by 111.5% during the 4th quarter. Lindbrook Capital LLC now owns 110 shares of the real estate investment trust’s stock worth $27,000 after buying an additional 58 shares during the period. Venturi Wealth Management LLC raised its stake in 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 buying an additional 73 shares during the period. Vima LLC acquired a new position in Essex Property Trust during the 4th quarter worth approximately $40,000. Bear Mountain Capital Inc. acquired a new position in Essex Property Trust during the 4th quarter worth approximately $55,000. Finally, Blue Trust Inc. raised its stake in Essex Property Trust by 645.2% during the 4th quarter. Blue Trust Inc. now owns 231 shares of the real estate investment trust’s stock worth $57,000 after buying an additional 200 shares during the period. 96.51% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Essex Property Trust

In other Essex Property Trust news, CEO Angela L. Kleiman sold 3,780 shares of the stock in a transaction on Friday, June 21st. The stock was sold at an average price of $278.27, for a total transaction of $1,051,860.60. Following the completion of the transaction, the chief executive officer now directly owns 9,494 shares of the company’s stock, valued at $2,641,895.38. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other 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 transaction, the chief executive officer now directly owns 9,494 shares of the company’s stock, valued at $2,641,895.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available 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 transaction, 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 owned by corporate insiders.

Essex Property Trust Stock Performance

NYSE ESS traded up $5.34 on Monday, hitting $290.13. 396,818 shares of the stock traded hands, compared to its average volume of 374,020. The business’s fifty day moving average is $270.60 and its two-hundred day moving average is $250.80. Essex Property Trust, Inc. has a 12 month low of $203.85 and a 12 month high of $290.68. The firm has a market capitalization of $18.63 billion, a price-to-earnings ratio of 34.82, a PEG ratio of 3.98 and a beta of 0.86. The company has a debt-to-equity ratio of 1.14, a quick ratio of 3.19 and a current ratio of 3.19.

Essex Property Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 24th. Shareholders of record on Friday, June 28th will be issued a dividend of $2.45 per share. This represents a $9.80 annualized dividend and a yield of 3.38%. The ex-dividend date of this dividend is Friday, June 28th. Essex Property Trust’s dividend payout ratio (DPR) is 119.80%.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on ESS shares. Bank of America raised Essex Property Trust from a “neutral” rating to a “buy” rating and upped their price target for the stock from $250.00 to $275.00 in a research note on Monday, April 1st. JPMorgan Chase & Co. increased their price objective on Essex Property Trust from $244.00 to $265.00 and gave the stock a “neutral” rating in a research note on Monday, June 17th. 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. Wells Fargo & Company increased their price objective on Essex Property Trust from $232.00 to $269.00 and gave the stock an “equal weight” rating in a research note on Friday, May 31st. Finally, Evercore ISI increased their price objective on Essex Property Trust from $254.00 to $260.00 and gave the stock an “in-line” rating in a research note on Tuesday, July 9th. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating and seven have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $262.15.

About Essex Property Trust

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.