Oppenheimer Asset Management Inc. Purchases 1,194 Shares of Essex Property Trust, Inc. (NYSE:ESS)

Oppenheimer Asset Management Inc. increased its holdings in Essex Property Trust, Inc. (NYSE:ESS) by 25.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,834 shares of the real estate investment trust’s stock after buying an additional 1,194 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Essex Property Trust were worth $1,428,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. SG Americas Securities LLC lifted its holdings in shares of Essex Property Trust by 632.8% in the fourth quarter. SG Americas Securities LLC now owns 15,001 shares of the real estate investment trust’s stock worth $3,719,000 after acquiring an additional 12,954 shares during the last quarter. Daiwa Securities Group Inc. increased its stake in Essex Property Trust by 201.1% in the fourth quarter. Daiwa Securities Group Inc. now owns 534,964 shares of the real estate investment trust’s stock valued at $132,639,000 after purchasing an additional 357,268 shares in the last quarter. Victory Capital Management Inc. raised its holdings in shares of Essex Property Trust by 11.1% during the fourth quarter. Victory Capital Management Inc. now owns 49,277 shares of the real estate investment trust’s stock valued at $12,218,000 after purchasing an additional 4,943 shares during the period. JLP Asset Management LLC bought a new position in shares of Essex Property Trust during the 4th quarter worth about $2,802,000. Finally, Kingswood Wealth Advisors LLC bought a new stake in Essex Property Trust during the 4th quarter valued at $3,304,000. 96.51% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Scotiabank raised their price target on shares of Essex Property Trust from $283.00 to $285.00 and gave the company a “sector outperform” rating in a research report on Friday, June 14th. Bank of America raised shares of Essex Property Trust from a “neutral” rating to a “buy” rating and increased their target price for the company from $250.00 to $275.00 in a research report on Monday, April 1st. Wedbush boosted their target price on Essex Property Trust from $240.00 to $264.00 and gave the company a “neutral” rating in a research note on Monday, May 6th. Mizuho increased 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, Raymond James upgraded Essex Property Trust from a “market perform” rating to an “outperform” rating and set a $265.00 target price on the stock in a research report on Monday, March 18th. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $261.05.

Insider Buying and Selling at Essex Property Trust

In other news, CEO Angela L. Kleiman sold 3,780 shares of the company’s stock in a transaction dated 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 completion of the sale, the chief executive officer now owns 9,494 shares of the company’s stock, valued at approximately $2,641,895.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Angela L. Kleiman sold 3,780 shares of the company’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 sale, the chief executive officer now directly owns 9,494 shares in the company, valued at approximately $2,641,895.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Keith R. Guericke sold 10,000 shares of Essex Property Trust 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 transaction, the director now owns 16,118 shares in the company, 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 Price Performance

Shares of NYSE ESS opened at $274.33 on Monday. The firm has a market cap of $17.61 billion, a P/E ratio of 33.54, a PEG ratio of 3.84 and a beta of 0.86. The company has a quick ratio of 3.19, a current ratio of 3.19 and a debt-to-equity ratio of 1.14. Essex Property Trust, Inc. has a twelve month low of $203.85 and a twelve month high of $284.77. The company has a 50 day moving average of $268.17 and a 200 day moving average of $249.62.

Essex Property Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 24th. Investors of record on Friday, June 28th will be issued a $2.45 dividend. This represents a $9.80 annualized dividend and a dividend yield of 3.57%. The ex-dividend date is Friday, June 28th. Essex Property Trust’s payout ratio is currently 119.80%.

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.