Quest Partners LLC Invests $210,000 in Essex Property Trust, Inc. (NYSE:ESS)

Quest Partners LLC acquired a new position in Essex Property Trust, Inc. (NYSE:ESS) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 710 shares of the real estate investment trust’s stock, valued at approximately $210,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Continuum Advisory LLC raised its stake in shares of Essex Property Trust by 214.3% in the second quarter. Continuum Advisory LLC now owns 110 shares of the real estate investment trust’s stock worth $30,000 after purchasing an additional 75 shares during the last quarter. UMB Bank n.a. grew its holdings in shares of Essex Property Trust by 600.0% in the second quarter. UMB Bank n.a. now owns 112 shares of the real estate investment trust’s stock valued at $30,000 after acquiring 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 third quarter. Assetmark Inc. now owns 100 shares of the real estate investment trust’s stock valued at $30,000 after acquiring an additional 96 shares in the last quarter. Family Firm Inc. bought a new position in shares of Essex Property Trust in the second quarter valued at approximately $31,000. Finally, Whittier Trust Co. of Nevada Inc. grew its holdings in shares of Essex Property Trust by 121.8% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 193 shares of the real estate investment trust’s stock valued at $53,000 after acquiring an additional 106 shares in the last quarter. 96.51% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Essex Property Trust

In other Essex Property Trust news, Director Amal M. Johnson sold 2,453 shares of the company’s stock in a transaction dated Friday, August 30th. The shares were 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 owns 2,585 shares in the company, valued at approximately $775,500. This represents a 48.69 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Angela L. Kleiman sold 8,080 shares of the company’s stock in a transaction dated 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 completion of the transaction, the chief executive officer now owns 9,494 shares of the company’s stock, valued at approximately $2,991,559.40. This trade represents a 45.98 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 20,402 shares of company stock worth $6,399,663. Company insiders own 3.90% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on ESS shares. 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 for the company. Piper Sandler increased their price objective on Essex Property Trust from $315.00 to $355.00 and gave the company an “overweight” rating in a report on Monday, August 26th. Truist Financial increased their price objective on Essex Property Trust from $282.00 to $294.00 and gave the company a “hold” rating in a report on Tuesday, August 27th. Wedbush increased their price objective 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, JPMorgan Chase & Co. increased their price objective on Essex Property Trust from $265.00 to $297.00 and gave the company a “neutral” rating in a report on Monday, September 16th. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, Essex Property Trust currently has an average rating of “Hold” and an average price target of $297.00.

Essex Property Trust Stock Up 1.0 %

Shares of ESS stock opened at $312.86 on Thursday. The stock has a market cap of $20.11 billion, a P/E ratio of 36.55, a PEG ratio of 6.09 and a beta of 0.88. Essex Property Trust, Inc. has a 52 week low of $210.36 and a 52 week high of $317.73. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 1.13. The company’s fifty day simple moving average is $297.03 and its two-hundred day simple moving average is $286.47.

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

Essex Property Trust Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Monday, September 30th were paid a dividend of $2.45 per share. The ex-dividend date of this dividend was Monday, September 30th. This represents a $9.80 annualized dividend and a dividend yield of 3.13%. Essex Property Trust’s payout ratio is currently 114.49%.

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.