Vert Asset Management LLC Purchases 471 Shares of Essex Property Trust, Inc. (NYSE:ESS)

Vert Asset Management LLC raised its position in Essex Property Trust, Inc. (NYSE:ESS) by 1.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 26,001 shares of the real estate investment trust’s stock after purchasing an additional 471 shares during the quarter. Essex Property Trust accounts for about 2.6% of Vert Asset Management LLC’s holdings, making the stock its 12th biggest holding. Vert Asset Management LLC’s holdings in Essex Property Trust were worth $7,681,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in ESS. Continuum Advisory LLC grew 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 position 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 buying an additional 96 shares during the last quarter. Family Firm Inc. acquired a new stake in shares of Essex Property Trust in the second quarter valued at about $31,000. Whittier Trust Co. of Nevada Inc. increased its stake 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 buying an additional 106 shares during the period. Finally, Ridgewood Investments LLC bought a new position in shares of Essex Property Trust during the second quarter worth about $66,000. 96.51% of the stock is owned by institutional investors and hedge funds.

Essex Property Trust Trading Up 0.8 %

ESS opened at $296.60 on Friday. The firm has a market capitalization of $19.04 billion, a PE ratio of 36.26, a P/E/G ratio of 5.21 and a beta of 0.88. The company has a debt-to-equity ratio of 1.11, a current ratio of 1.62 and a quick ratio of 1.62. Essex Property Trust, Inc. has a fifty-two week low of $203.85 and a fifty-two week high of $317.73. The company’s 50-day moving average is $296.55 and its 200 day moving average is $275.60.

Essex Property Trust (NYSE:ESS) last posted its earnings results on Tuesday, July 30th. The real estate investment trust reported $1.45 earnings per share for the quarter, missing analysts’ consensus estimates of $3.85 by ($2.40). Essex Property Trust had a net margin of 30.31% and a return on equity of 9.14%. The company had revenue of $442.36 million during the quarter, compared to the consensus estimate of $433.26 million. During the same quarter in the prior year, the business earned $3.77 EPS. As a group, research analysts predict that Essex Property Trust, Inc. will post 15.55 earnings per share for the current fiscal year.

Essex Property Trust Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Monday, September 30th were given a dividend of $2.45 per share. This represents a $9.80 dividend on an annualized basis and a dividend yield of 3.30%. The ex-dividend date of this dividend was Monday, September 30th. Essex Property Trust’s payout ratio is currently 119.80%.

Insider Buying and Selling

In other Essex Property Trust news, Director Amal M. Johnson sold 7,298 shares of the stock in a transaction dated 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 completion of the sale, the director now owns 2,585 shares in the company, valued at approximately $817,661.35. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, Director Amal M. Johnson sold 7,298 shares of the firm’s stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $316.31, for a total transaction of $2,308,430.38. Following the completion of the sale, the director now directly owns 2,585 shares of the company’s stock, valued at $817,661.35. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Anne Morrison sold 2,571 shares of Essex Property Trust stock in a transaction on Monday, September 16th. The stock was sold at an average price of $314.79, for a total value of $809,325.09. Following the sale, the chief accounting officer now owns 2,321 shares in the company, valued at $730,627.59. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 20,402 shares of company stock worth $6,399,663. 3.80% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several analysts recently commented on ESS shares. BNP Paribas assumed 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. Royal Bank of Canada lifted their target price on shares of Essex Property Trust from $284.00 to $288.00 and gave the stock an “outperform” rating in a research note on Thursday, August 1st. JPMorgan Chase & Co. upped their price target on shares of Essex Property Trust from $265.00 to $297.00 and gave the company a “neutral” rating in a research report on Monday, September 16th. Truist Financial lifted their price objective on Essex Property Trust from $282.00 to $294.00 and gave the stock a “hold” rating in a research report on Tuesday, August 27th. Finally, Stifel Nicolaus upped their target price on Essex Property Trust from $267.00 to $268.00 and gave the company a “hold” rating in a research report on Wednesday, July 31st. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $293.40.

About Essex Property Trust

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.