Naviter Wealth LLC Sells 237 Shares of Essex Property Trust, Inc. (NYSE:ESS)

Naviter Wealth LLC lowered its holdings in shares of Essex Property Trust, Inc. (NYSE:ESS) by 5.5% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,056 shares of the real estate investment trust’s stock after selling 237 shares during the period. Naviter Wealth LLC’s holdings in Essex Property Trust were worth $1,208,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Continuum Advisory LLC lifted its holdings in shares of Essex Property Trust by 214.3% during the 2nd quarter. Continuum Advisory LLC now owns 110 shares of the real estate investment trust’s stock worth $30,000 after acquiring an additional 75 shares during the period. UMB Bank n.a. lifted its stake in Essex Property Trust by 600.0% during the second quarter. UMB Bank n.a. now owns 112 shares of the real estate investment trust’s stock worth $30,000 after purchasing an additional 96 shares during the period. Family Firm Inc. acquired a new stake in Essex Property Trust during the second quarter valued at approximately $31,000. Whittier Trust Co. of Nevada Inc. boosted its holdings in Essex Property Trust by 121.8% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 193 shares of the real estate investment trust’s stock valued at $53,000 after purchasing an additional 106 shares in the last quarter. Finally, Ridgewood Investments LLC bought a new stake in shares of Essex Property Trust in the 2nd quarter valued at approximately $66,000. Institutional investors own 96.51% of the company’s stock.

Insider Activity at Essex Property Trust

In other Essex Property Trust news, CEO Angela L. Kleiman sold 8,080 shares of the firm’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $315.10, for a total transaction of $2,546,008.00. Following the transaction, the chief executive officer now owns 9,494 shares in the company, valued at approximately $2,991,559.40. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Amal M. Johnson sold 7,298 shares of the company’s stock in a transaction 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 sale, the director now owns 2,585 shares in the company, valued at $817,661.35. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Angela L. Kleiman sold 8,080 shares of the firm’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $315.10, for a total value of $2,546,008.00. Following the sale, the chief executive officer now directly owns 9,494 shares in the company, valued at $2,991,559.40. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 20,402 shares of company stock worth $6,399,663. 3.80% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts recently commented on ESS shares. Royal Bank of Canada boosted their price target on Essex Property Trust from $284.00 to $288.00 and gave the company an “outperform” rating in a research note on Thursday, August 1st. Truist Financial upped their target price on shares of Essex Property Trust from $282.00 to $294.00 and gave the stock a “hold” rating in a report on Tuesday, August 27th. Bank of America downgraded shares of Essex Property Trust from a “buy” rating to a “neutral” rating and lifted their price target for the company from $307.00 to $321.00 in a report on Tuesday, September 24th. Scotiabank upped their price objective on shares of Essex Property Trust from $309.00 to $329.00 and gave the stock a “sector outperform” rating in a research note on Monday, September 16th. Finally, Raymond James lifted their target price on shares of Essex Property Trust from $295.00 to $325.00 and gave the company an “outperform” rating in a research note on Thursday, August 29th. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $293.40.

Essex Property Trust Stock Performance

Shares of NYSE:ESS opened at $294.35 on Friday. The company has a current ratio of 1.62, a quick ratio of 1.62 and a debt-to-equity ratio of 1.11. Essex Property Trust, Inc. has a 1-year low of $203.85 and a 1-year high of $317.73. The stock has a market capitalization of $18.90 billion, a P/E ratio of 35.98, a P/E/G ratio of 5.21 and a beta of 0.88. The business has a 50-day moving average price of $296.27 and a two-hundred day moving average price of $275.20.

Essex Property Trust (NYSE:ESS) last announced its quarterly earnings data 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). The business had revenue of $442.36 million during the quarter, compared to analyst estimates of $433.26 million. Essex Property Trust had a net margin of 30.31% and a return on equity of 9.14%. During the same quarter in the prior year, the company earned $3.77 earnings per share. 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 disclosed a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Monday, September 30th were paid a dividend of $2.45 per share. The ex-dividend date of this dividend was Monday, September 30th. This represents a $9.80 dividend on an annualized basis and a dividend yield of 3.33%. Essex Property Trust’s dividend payout ratio (DPR) 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.