Essex Property Trust, Inc. (NYSE:ESS) Shares Purchased by BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its stake in shares of Essex Property Trust, Inc. (NYSE:ESS) by 12.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 12,050 shares of the real estate investment trust’s stock after buying an additional 1,352 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Essex Property Trust were worth $3,615,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the company. CX Institutional boosted its position in shares of Essex Property Trust by 17.9% during the 2nd quarter. CX Institutional now owns 204 shares of the real estate investment trust’s stock valued at $61,000 after purchasing an additional 31 shares in the last quarter. RB Capital Management LLC boosted its position in shares of Essex Property Trust by 1.4% during the 2nd quarter. RB Capital Management LLC now owns 2,303 shares of the real estate investment trust’s stock valued at $691,000 after purchasing an additional 31 shares in the last quarter. WealthShield Partners LLC boosted its position in shares of Essex Property Trust by 6.9% during the 2nd quarter. WealthShield Partners LLC now owns 604 shares of the real estate investment trust’s stock valued at $181,000 after purchasing an additional 39 shares in the last quarter. TownSquare Capital LLC boosted its position in shares of Essex Property Trust by 2.3% during the 1st quarter. TownSquare Capital LLC now owns 1,884 shares of the real estate investment trust’s stock valued at $512,000 after purchasing an additional 42 shares in the last quarter. Finally, Savant Capital LLC boosted its position in shares of Essex Property Trust by 4.5% during the 2nd quarter. Savant Capital LLC now owns 1,083 shares of the real estate investment trust’s stock valued at $325,000 after purchasing an additional 47 shares in the last quarter. Institutional investors own 92.48% of the company’s stock.

In other news, Director Thomas E. Robinson sold 2,500 shares of Essex Property Trust stock in a transaction that occurred on Tuesday, August 31st. The shares were sold at an average price of $329.30, for a total value of $823,250.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Irving F. Lyons III sold 7,329 shares of Essex Property Trust stock in a transaction that occurred on Tuesday, July 20th. The shares were sold at an average price of $329.90, for a total transaction of $2,417,837.10. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 29,179 shares of company stock worth $9,616,198. Insiders own 3.80% of the company’s stock.

ESS has been the subject of several research reports. Truist Securities raised their price objective on shares of Essex Property Trust from $327.00 to $337.00 and gave the company a “buy” rating in a research report on Wednesday, August 25th. Piper Sandler raised their target price on shares of Essex Property Trust from $340.00 to $390.00 and gave the stock an “overweight” rating in a report on Wednesday, September 1st. Truist raised their target price on shares of Essex Property Trust from $327.00 to $337.00 and gave the stock a “buy” rating in a report on Wednesday, August 25th. KeyCorp raised their target price on shares of Essex Property Trust from $300.00 to $341.00 and gave the stock an “overweight” rating in a report on Thursday, July 15th. Finally, Raymond James upgraded shares of Essex Property Trust from an “underperform” rating to a “market perform” rating in a report on Monday, July 19th. Eight investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $318.69.

NYSE ESS opened at $324.46 on Wednesday. The company has a 50 day simple moving average of $324.54 and a 200-day simple moving average of $302.42. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.86 and a quick ratio of 1.86. The firm has a market capitalization of $21.10 billion, a price-to-earnings ratio of 52.42, a price-to-earnings-growth ratio of 8.74 and a beta of 0.73. Essex Property Trust, Inc. has a 52-week low of $186.30 and a 52-week high of $337.43.

Essex Property Trust (NYSE:ESS) last issued its quarterly earnings data on Thursday, July 29th. The real estate investment trust reported $1.00 earnings per share for the quarter, missing the consensus estimate of $2.99 by ($1.99). Essex Property Trust had a net margin of 27.99% and a return on equity of 6.32%. On average, analysts predict that Essex Property Trust, Inc. will post 12.37 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 15th. Investors of record on Thursday, September 30th will be given a dividend of $2.09 per share. This represents a $8.36 annualized dividend and a yield of 2.58%. The ex-dividend date is Wednesday, September 29th. Essex Property Trust’s payout ratio is presently 65.21%.

About Essex Property Trust

Essex Property Trust, Inc operates as a real estate investment trust. It engages in the ownership, operation, management, acquisition, development, and redevelopment of predominantly apartment communities. The company was founded by George M. Marcus in 1971 and is headquartered in San Mateo, CA.

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Institutional Ownership by Quarter for Essex Property Trust (NYSE:ESS)

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