Essex Property Trust, Inc. (NYSE:ESS) Shares Bought by Norden Group LLC

Norden Group LLC raised its stake in Essex Property Trust, Inc. (NYSE:ESS) by 508.4% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 11,286 shares of the real estate investment trust’s stock after purchasing an additional 9,431 shares during the quarter. Norden Group LLC’s holdings in Essex Property Trust were worth $2,763,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Lindbrook Capital LLC boosted its holdings 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 purchasing an additional 58 shares during the last quarter. Vima LLC purchased a new stake in Essex Property Trust during the 4th quarter worth $40,000. Bruce G. Allen Investments LLC purchased a new stake in Essex Property Trust during the 4th quarter worth $41,000. Bear Mountain Capital Inc. purchased a new stake in Essex Property Trust during the 4th quarter worth $55,000. Finally, Blue Trust Inc. increased 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. Institutional investors and hedge funds own 96.51% of the company’s stock.

Essex Property Trust Trading Down 1.2 %

Essex Property Trust stock opened at $269.60 on Friday. The company has a quick ratio of 3.19, a current ratio of 3.19 and a debt-to-equity ratio of 1.14. The firm has a 50-day moving average price of $264.44 and a two-hundred day moving average price of $248.15. The firm has a market capitalization of $17.31 billion, a price-to-earnings ratio of 32.96, a PEG ratio of 3.77 and a beta of 0.86. Essex Property Trust, Inc. has a 52-week low of $203.85 and a 52-week high of $284.77.

Essex Property Trust Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 24th. Stockholders of record on Friday, June 28th will be paid a $2.45 dividend. This represents a $9.80 dividend on an annualized basis and a dividend yield of 3.64%. The ex-dividend date is Friday, June 28th. Essex Property Trust’s dividend payout ratio is currently 119.80%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on ESS shares. Bank of America raised shares of Essex Property Trust from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $250.00 to $275.00 in a research note on Monday, April 1st. UBS Group boosted their target price on shares of Essex Property Trust from $250.00 to $261.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 14th. StockNews.com raised shares of Essex Property Trust from a “sell” rating to a “hold” rating in a research report on Wednesday, May 1st. Mizuho boosted their target price on shares of Essex Property Trust from $250.00 to $266.00 and gave the stock a “buy” rating in a research report on Thursday, May 30th. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $315.00 price target on shares of Essex Property Trust in a report on Friday, June 28th. Two 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. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $258.63.

Insider Buying and Selling

In other news, CEO Angela L. Kleiman sold 3,780 shares of the business’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 transaction of $1,051,860.60. Following the sale, the chief executive officer now owns 9,494 shares in the company, valued at $2,641,895.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO Angela L. Kleiman sold 3,780 shares of the business’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 transaction of $1,051,860.60. Following 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Keith R. Guericke sold 10,000 shares of the business’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 transaction, the director now directly owns 16,118 shares in the company, valued at $4,425,519.26. The disclosure for this sale can be found here. Insiders own 3.90% of the company’s stock.

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.