Bessemer Group Inc. boosted its position in Essex Property Trust, Inc. (NYSE:ESS – Free Report) by 29.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 578 shares of the real estate investment trust’s stock after purchasing an additional 132 shares during the period. Bessemer Group Inc.’s holdings in Essex Property Trust were worth $141,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other large investors have also modified their holdings of ESS. Cohen & Steers Inc. lifted its stake in shares of Essex Property Trust by 31.2% during the 4th quarter. Cohen & Steers Inc. now owns 3,072,004 shares of the real estate investment trust’s stock worth $761,760,000 after acquiring an additional 730,141 shares during the last quarter. Norges Bank bought a new stake in shares of Essex Property Trust during the fourth quarter worth $675,183,000. Daiwa Securities Group Inc. boosted its stake in shares of Essex Property Trust by 86.5% during the first quarter. Daiwa Securities Group Inc. now owns 997,792 shares of the real estate investment trust’s stock valued at $244,269,000 after purchasing an additional 462,828 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in shares of Essex Property Trust by 2.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 689,608 shares of the real estate investment trust’s stock worth $170,981,000 after purchasing an additional 18,324 shares during the last quarter. Finally, Russell Investments Group Ltd. increased its stake in Essex Property Trust by 34.0% in the 1st quarter. Russell Investments Group Ltd. now owns 553,015 shares of the real estate investment trust’s stock worth $135,348,000 after buying an additional 140,294 shares during the period. Hedge funds and other institutional investors own 96.51% of the company’s stock.
Wall Street Analysts Forecast Growth
Several equities research analysts have issued reports on ESS shares. Evercore ISI boosted their price objective on shares of Essex Property Trust from $254.00 to $260.00 and gave the company an “in-line” rating in a research report on Tuesday, July 9th. Bank of America upgraded Essex Property Trust from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $250.00 to $275.00 in a report on Monday, April 1st. Truist Financial upped their target price on Essex Property Trust from $255.00 to $282.00 and gave the stock a “hold” rating in a report on Monday, June 24th. Wells Fargo & Company raised their price target on Essex Property Trust from $232.00 to $269.00 and gave the company an “equal weight” rating in a research note on Friday, May 31st. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $315.00 price objective on shares of Essex Property Trust in a research note on Friday, June 28th. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $262.15.
Get Our Latest Stock Analysis on Essex Property Trust
Insiders Place Their Bets
In other Essex Property Trust news, CEO Angela L. Kleiman sold 3,780 shares of the firm’s stock in a transaction on 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 transaction, the chief executive officer now owns 9,494 shares of the company’s stock, valued at $2,641,895.38. The transaction was disclosed in a filing with the SEC, which is available at this link. In related news, Director Keith R. Guericke sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $274.57, for a total value of $2,745,700.00. Following the sale, the director now owns 16,118 shares in the company, valued at $4,425,519.26. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Angela L. Kleiman sold 3,780 shares of the firm’s stock in a transaction that occurred on Friday, June 21st. The stock was 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 disclosure for this sale can be found here. 3.80% of the stock is owned by insiders.
Essex Property Trust Trading Up 1.4 %
Shares of NYSE:ESS opened at $286.74 on Monday. The company has a debt-to-equity ratio of 1.14, a current ratio of 3.19 and a quick ratio of 3.19. The firm has a market capitalization of $18.41 billion, a P/E ratio of 35.05, a P/E/G ratio of 4.01 and a beta of 0.86. The business’s 50-day moving average is $272.85 and its 200 day moving average is $252.24. Essex Property Trust, Inc. has a 1 year low of $203.85 and a 1 year high of $292.37.
Essex Property Trust Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Wednesday, July 24th. Investors of record on Friday, June 28th were paid a $2.45 dividend. This represents a $9.80 dividend on an annualized basis and a yield of 3.42%. The ex-dividend date was Friday, June 28th. 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.
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