Mirae Asset Global Investments Co. Ltd. Has $4.13 Million Position in Essex Property Trust, Inc. (NYSE:ESS)

Mirae Asset Global Investments Co. Ltd. increased its position in Essex Property Trust, Inc. (NYSE:ESS) by 6.1% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 14,011 shares of the real estate investment trust’s stock after buying an additional 803 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Essex Property Trust were worth $4,128,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in ESS. Continuum Advisory LLC increased its position in 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 valued at $30,000 after purchasing an additional 75 shares during the period. UMB Bank n.a. increased its position in Essex Property Trust by 600.0% during the 2nd quarter. UMB Bank n.a. now owns 112 shares of the real estate investment trust’s stock valued at $30,000 after purchasing an additional 96 shares during the period. Family Firm Inc. acquired a new stake in Essex Property Trust during the 2nd quarter valued at approximately $31,000. Whittier Trust Co. of Nevada Inc. increased its position in Essex Property Trust by 121.8% during the 2nd 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 during the period. Finally, Ridgewood Investments LLC acquired a new stake in Essex Property Trust during the 2nd quarter valued at approximately $66,000. Institutional investors and hedge funds own 96.51% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on ESS shares. JPMorgan Chase & Co. increased their target price on shares of Essex Property Trust from $265.00 to $297.00 and gave the company a “neutral” rating in a research report on Monday, September 16th. Wells Fargo & Company raised their price objective on shares of Essex Property Trust from $269.00 to $314.00 and gave the stock an “equal weight” rating in a research report on Monday, August 26th. UBS Group raised their price objective on shares of Essex Property Trust from $261.00 to $283.00 and gave the stock a “neutral” rating in a research report on Thursday, July 18th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Essex Property Trust from $240.00 to $308.00 and gave the stock a “hold” rating in a research report on Tuesday, September 10th. Finally, Truist Financial raised their price objective on shares of Essex Property Trust from $282.00 to $294.00 and gave the stock a “hold” rating in a research report on Tuesday, August 27th. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, Essex Property Trust has a consensus rating of “Hold” and an average target price of $293.40.

Insider Buying and Selling at Essex Property Trust

In other Essex Property Trust news, CAO Anne Morrison sold 2,571 shares of the firm’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $314.79, for a total transaction of $809,325.09. Following the transaction, the chief accounting officer now directly owns 2,321 shares in the company, valued at approximately $730,627.59. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CAO Anne Morrison sold 2,571 shares of Essex Property Trust stock in a transaction on Monday, September 16th. The stock was sold at an average price of $314.79, for a total transaction of $809,325.09. Following the sale, the chief accounting officer now directly owns 2,321 shares in the company, valued at $730,627.59. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Angela L. Kleiman sold 8,080 shares of Essex Property Trust 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 owns 9,494 shares in the company, valued at $2,991,559.40. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 20,402 shares of company stock worth $6,399,663. Corporate insiders own 3.90% of the company’s stock.

Essex Property Trust Price Performance

Shares of NYSE:ESS opened at $298.43 on Wednesday. The company has a current ratio of 1.62, a quick ratio of 1.62 and a debt-to-equity ratio of 1.11. The stock’s fifty day simple moving average is $298.27 and its two-hundred day simple moving average is $278.87. Essex Property Trust, Inc. has a 1-year low of $204.64 and a 1-year high of $317.73. The stock has a market cap of $19.16 billion, a PE ratio of 36.93, a price-to-earnings-growth ratio of 5.31 and a beta of 0.88.

Essex Property Trust (NYSE:ESS) last issued 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). Essex Property Trust had a net margin of 30.31% and a return on equity of 9.14%. The company had revenue of $442.36 million for the quarter, compared to the consensus estimate of $433.26 million. During the same quarter last year, the business posted $3.77 earnings per share. As a group, analysts forecast that Essex Property Trust, Inc. will post 15.55 EPS for the current fiscal year.

Essex Property Trust Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Monday, September 30th were paid a dividend of $2.45 per share. This represents a $9.80 annualized dividend and a yield of 3.28%. The ex-dividend date was Monday, September 30th. Essex Property Trust’s dividend payout ratio (DPR) is presently 121.29%.

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.