Dimensional Fund Advisors LP Buys 12,822 Shares of Essex Property Trust, Inc. (NYSE:ESS)

Dimensional Fund Advisors LP boosted its stake in shares of Essex Property Trust, Inc. (NYSE:ESS) by 1.4% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 941,501 shares of the real estate investment trust’s stock after acquiring an additional 12,822 shares during the period. Dimensional Fund Advisors LP owned 1.47% of Essex Property Trust worth $256,280,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in ESS. Cohen & Steers Inc. increased its stake in 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 period. Daiwa Securities Group Inc. increased its stake in Essex Property Trust by 86.5% during the 1st quarter. Daiwa Securities Group Inc. now owns 997,792 shares of the real estate investment trust’s stock worth $244,269,000 after acquiring an additional 462,828 shares during the period. Price T Rowe Associates Inc. MD increased its stake in Essex Property Trust by 8.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,832,845 shares of the real estate investment trust’s stock worth $448,701,000 after acquiring an additional 147,130 shares during the period. Russell Investments Group Ltd. boosted its holdings in shares of 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 valued at $135,348,000 after purchasing an additional 140,294 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. boosted its holdings in shares of Essex Property Trust by 326.3% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 147,864 shares of the real estate investment trust’s stock valued at $36,199,000 after purchasing an additional 113,178 shares in the last quarter. Institutional investors own 96.51% of the company’s stock.

Insider Transactions at Essex Property Trust

In other news, Director Amal M. Johnson sold 2,453 shares of Essex Property Trust stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $300.00, for a total value of $735,900.00. Following the completion of the transaction, the director now directly owns 2,585 shares of the company’s stock, valued at approximately $775,500. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, Director Amal M. Johnson sold 2,453 shares of Essex Property Trust stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $300.00, for a total value of $735,900.00. Following the completion of the transaction, the director now directly owns 2,585 shares of the company’s stock, valued at approximately $775,500. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CAO Anne Morrison sold 2,571 shares of Essex Property Trust stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $314.79, for a total value of $809,325.09. Following the completion of the transaction, the chief accounting officer now directly owns 2,321 shares of the company’s stock, valued at $730,627.59. The disclosure for this sale can be found here. In the last ninety days, insiders sold 16,884 shares of company stock valued at $5,143,094. Corporate insiders own 3.80% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on ESS. Piper Sandler raised their target price on Essex Property Trust from $315.00 to $355.00 and gave the company an “overweight” rating in a report on Monday, August 26th. Wells Fargo & Company raised their target price on Essex Property Trust from $269.00 to $314.00 and gave the company an “equal weight” rating in a report on Monday, August 26th. JPMorgan Chase & Co. raised their target price on Essex Property Trust from $265.00 to $297.00 and gave the company a “neutral” rating in a report on Monday. Wedbush raised their target price on Essex Property Trust from $264.00 to $301.00 and gave the company a “neutral” rating in a report on Monday, August 5th. Finally, BNP Paribas initiated coverage on Essex Property Trust in a report on Wednesday, September 11th. They issued an “outperform” rating and a $333.00 target price on the stock. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, Essex Property Trust has a consensus rating of “Hold” and a consensus target price of $291.10.

Essex Property Trust Stock Down 0.0 %

Shares of NYSE:ESS opened at $312.00 on Thursday. The firm has a market cap of $20.03 billion, a P/E ratio of 38.14, a P/E/G ratio of 4.41 and a beta of 0.88. The company has a quick ratio of 1.62, a current ratio of 1.62 and a debt-to-equity ratio of 1.11. Essex Property Trust, Inc. has a 12-month low of $203.85 and a 12-month high of $317.73. The business has a fifty day simple moving average of $290.87 and a 200 day simple moving average of $267.61.

Essex Property Trust (NYSE:ESS) last announced its earnings results on Tuesday, July 30th. The real estate investment trust reported $1.45 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.85 by ($2.40). The company had revenue of $442.36 million for the quarter, compared to the consensus estimate of $433.26 million. Essex Property Trust had a return on equity of 9.14% and a net margin of 30.31%. During the same period in the prior year, the business earned $3.77 earnings per share. Analysts predict that Essex Property Trust, Inc. will post 15.53 earnings per share for the current year.

Essex Property Trust Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Monday, September 30th will be given a $2.45 dividend. This represents a $9.80 annualized dividend and a dividend yield of 3.14%. The ex-dividend date is Monday, September 30th. 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.