Forsta AP Fonden Acquires 1,300 Shares of Essex Property Trust, Inc. (NYSE:ESS)

Forsta AP Fonden grew its holdings in Essex Property Trust, Inc. (NYSE:ESS) by 11.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 12,300 shares of the real estate investment trust’s stock after acquiring an additional 1,300 shares during the period. Forsta AP Fonden’s holdings in Essex Property Trust were worth $3,011,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Lindbrook Capital LLC raised its position in Essex Property Trust by 111.5% in the fourth quarter. Lindbrook Capital LLC now owns 110 shares of the real estate investment trust’s stock worth $27,000 after acquiring an additional 58 shares during the period. Venturi Wealth Management LLC increased its stake in shares of Essex Property Trust by 112.3% in the first quarter. Venturi Wealth Management LLC now owns 138 shares of the real estate investment trust’s stock worth $34,000 after purchasing an additional 73 shares in the last quarter. Vima LLC purchased a new stake in shares of Essex Property Trust in the fourth quarter worth $40,000. Bruce G. Allen Investments LLC purchased a new stake in shares of Essex Property Trust in the fourth quarter worth $41,000. Finally, Bear Mountain Capital Inc. purchased a new stake in shares of Essex Property Trust in the fourth quarter worth $55,000. 96.51% of the stock is currently owned by institutional investors.

Essex Property Trust Trading Up 0.2 %

ESS traded up $0.48 on Monday, reaching $274.81. 3,105 shares of the company traded hands, compared to its average volume of 373,028. Essex Property Trust, Inc. has a one year low of $203.85 and a one year high of $284.77. The firm has a fifty day simple moving average of $268.17 and a two-hundred day simple moving average of $249.62. The company has a market cap of $17.65 billion, a P/E ratio of 33.54, a price-to-earnings-growth 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 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 issued a dividend of $2.45 per share. The ex-dividend date is Friday, June 28th. This represents a $9.80 dividend on an annualized basis and a yield of 3.57%. Essex Property Trust’s payout ratio is 119.80%.

Insider Activity at Essex Property Trust

In related news, CEO Angela L. Kleiman sold 3,780 shares of Essex Property Trust 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 in the company, valued at approximately $2,641,895.38. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, CEO Angela L. Kleiman sold 3,780 shares of the business’s stock in a transaction dated Friday, June 21st. The shares were 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 in the company, valued at approximately $2,641,895.38. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Keith R. Guericke sold 10,000 shares of the business’s stock in a transaction dated 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 completion of the sale, the director now owns 16,118 shares of the company’s stock, valued at approximately $4,425,519.26. The disclosure for this sale can be found here. 3.80% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on ESS. JPMorgan Chase & Co. increased their price objective on shares of Essex Property Trust from $244.00 to $265.00 and gave the stock a “neutral” rating in a research note on Monday, June 17th. Raymond James raised shares of Essex Property Trust from a “market perform” rating to an “outperform” rating and set a $265.00 price objective for the company in a research note on Monday, March 18th. Piper Sandler reaffirmed an “overweight” rating and set a $315.00 target price on shares of Essex Property Trust in a research note on Friday, June 28th. UBS Group raised their target price on shares of Essex Property Trust from $250.00 to $261.00 and gave the company a “neutral” rating in a research note on Tuesday, May 14th. Finally, Bank of America raised shares of Essex Property Trust from a “neutral” rating to a “buy” rating and raised their target price for the company from $250.00 to $275.00 in a research note on Monday, April 1st. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, Essex Property Trust has an average rating of “Hold” and an average target price of $261.05.

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.