Brooklyn Investment Group Buys Shares of 132 Essex Property Trust, Inc. (NYSE:ESS)

Brooklyn Investment Group bought a new stake in shares of Essex Property Trust, Inc. (NYSE:ESS) during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 132 shares of the real estate investment trust’s stock, valued at approximately $39,000.

Several other hedge funds have also recently added to or reduced their stakes in ESS. Wulff Hansen & CO. raised its stake in Essex Property Trust by 27,120.0% during the 2nd quarter. Wulff Hansen & CO. now owns 425,721 shares of the real estate investment trust’s stock valued at $115,881,000 after acquiring an additional 424,157 shares in the last quarter. Duff & Phelps Investment Management Co. acquired a new position in shares of Essex Property Trust during the 2nd quarter valued at $98,594,000. International Assets Investment Management LLC acquired a new position in shares of Essex Property Trust during the 3rd quarter valued at $84,393,000. Massachusetts Financial Services Co. MA increased its position in shares of Essex Property Trust by 16.1% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,329,516 shares of the real estate investment trust’s stock valued at $392,766,000 after purchasing an additional 183,947 shares during the period. Finally, Robeco Institutional Asset Management B.V. increased its position in shares of Essex Property Trust by 205.5% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 202,552 shares of the real estate investment trust’s stock valued at $59,838,000 after purchasing an additional 136,240 shares during the period. Institutional investors own 96.51% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Angela L. Kleiman sold 8,080 shares of the business’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. The trade was a 45.98 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Amal M. Johnson sold 7,298 shares of the business’s stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $316.31, for a total value of $2,308,430.38. Following the transaction, the director now directly owns 2,585 shares of the company’s stock, valued at $817,661.35. This represents a 73.84 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 17,949 shares of company stock valued at $5,663,763 over the last quarter. Insiders own 3.80% of the company’s stock.

Essex Property Trust Price Performance

ESS opened at $310.46 on Friday. The stock has a market cap of $19.95 billion, a price-to-earnings ratio of 36.27, a PEG ratio of 6.16 and a beta of 0.88. Essex Property Trust, Inc. has a 1 year low of $211.35 and a 1 year high of $317.73. 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 stock has a fifty day moving average price of $297.12 and a 200 day moving average price of $287.00.

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

Essex Property Trust Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Monday, September 30th were given a $2.45 dividend. The ex-dividend date of this dividend 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 currently 114.49%.

Analyst Upgrades and Downgrades

ESS has been the topic of several research analyst reports. Wedbush lifted their price target on Essex Property Trust from $264.00 to $301.00 and gave the company a “neutral” rating in a research report on Monday, August 5th. Wells Fargo & Company lifted their price target on Essex Property Trust from $269.00 to $314.00 and gave the company an “equal weight” rating in a research report on Monday, August 26th. Raymond James cut Essex Property Trust from an “outperform” rating to a “market perform” rating in a research report on Monday, October 21st. Evercore ISI lifted their price target on Essex Property Trust from $283.00 to $287.00 and gave the company an “in-line” rating in a research report on Monday, September 16th. Finally, Truist Financial lifted their target price on Essex Property Trust from $282.00 to $294.00 and gave the stock a “hold” rating in a report on Tuesday, August 27th. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $297.00.

Essex Property Trust 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.