Dynamic Technology Lab Private Ltd Makes New Investment in Essex Property Trust, Inc. (NYSE:ESS)

Dynamic Technology Lab Private Ltd acquired a new stake in Essex Property Trust, Inc. (NYSE:ESS) during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor acquired 800 shares of the real estate investment trust’s stock, valued at approximately $236,000.

Several other large investors also recently modified their holdings of ESS. Continuum Advisory LLC boosted its stake in Essex Property Trust by 214.3% in the 2nd quarter. Continuum Advisory LLC now owns 110 shares of the real estate investment trust’s stock valued at $30,000 after buying an additional 75 shares in the last quarter. UMB Bank n.a. boosted its stake in shares of Essex Property Trust by 600.0% in 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 in the last quarter. Assetmark Inc. grew its holdings in shares of Essex Property Trust by 2,400.0% in the 3rd quarter. Assetmark Inc. now owns 100 shares of the real estate investment trust’s stock worth $30,000 after purchasing an additional 96 shares during the last quarter. Family Firm Inc. acquired a new stake in shares of Essex Property Trust during the 2nd quarter worth about $31,000. Finally, Whittier Trust Co. of Nevada Inc. lifted its holdings 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 last quarter. 96.51% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on ESS. 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 report on Tuesday, August 27th. JPMorgan Chase & Co. lifted their price objective on Essex Property Trust from $265.00 to $297.00 and gave the company a “neutral” rating in a research report on Monday, September 16th. Evercore ISI boosted their price objective on Essex Property Trust from $283.00 to $287.00 and gave the stock an “in-line” rating in a research note on Monday, September 16th. Raymond James lowered Essex Property Trust from an “outperform” rating to a “market perform” rating in a research note on Monday, October 21st. Finally, Wells Fargo & Company upped their price target 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. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $297.00.

Essex Property Trust Trading Down 0.8 %

NYSE ESS opened at $310.46 on Monday. Essex Property Trust, Inc. has a 12 month low of $211.35 and a 12 month high of $317.73. The stock has a 50-day simple moving average of $297.12 and a 200 day simple moving average of $287.29. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 1.13. The company has a market capitalization of $19.95 billion, a PE ratio of 36.27, a P/E/G ratio of 6.11 and a beta of 0.88.

Essex Property Trust (NYSE:ESS) last announced its quarterly earnings results on Tuesday, October 29th. The real estate investment trust reported $1.84 EPS for the quarter, missing analysts’ consensus estimates of $3.88 by ($2.04). Essex Property Trust had a net margin of 31.55% and a return on equity of 9.72%. The company had revenue of $450.70 million during the quarter, compared to the consensus estimate of $445.88 million. During the same period last year, the company earned $3.78 earnings per share. Research analysts forecast that Essex Property Trust, Inc. will post 15.56 EPS for the current year.

Essex Property Trust Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Monday, September 30th were given a dividend of $2.45 per share. The ex-dividend date was Monday, September 30th. This represents a $9.80 dividend on an annualized basis and a dividend yield of 3.16%. Essex Property Trust’s dividend payout ratio is 114.49%.

Insider Activity at Essex Property Trust

In other Essex Property Trust news, Director Amal M. Johnson sold 7,298 shares of Essex Property Trust stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $316.31, for a total value of $2,308,430.38. Following the transaction, the director now owns 2,585 shares of the company’s stock, valued at approximately $817,661.35. The trade was a 73.84 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Angela L. Kleiman sold 8,080 shares of the stock in a transaction on Monday, September 16th. The stock was sold at an average price of $315.10, for a total transaction of $2,546,008.00. Following the sale, the chief executive officer now directly owns 9,494 shares of the company’s stock, valued at $2,991,559.40. This represents a 45.98 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 17,949 shares of company stock worth $5,663,763 in the last quarter. Corporate insiders own 3.80% of the company’s stock.

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.