Vinva Investment Management Ltd Boosts Stock Holdings in Essex Property Trust, Inc. (NYSE:ESS)

Vinva Investment Management Ltd raised its holdings in Essex Property Trust, Inc. (NYSE:ESS) by 108.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,788 shares of the real estate investment trust’s stock after purchasing an additional 3,017 shares during the period. Vinva Investment Management Ltd’s holdings in Essex Property Trust were worth $1,705,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the business. Public Sector Pension Investment Board boosted its position in shares of Essex Property Trust by 25.0% in the third quarter. Public Sector Pension Investment Board now owns 11,238 shares of the real estate investment trust’s stock valued at $3,320,000 after acquiring an additional 2,247 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Essex Property Trust by 732.9% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 719,596 shares of the real estate investment trust’s stock valued at $212,583,000 after acquiring an additional 633,200 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Essex Property Trust by 10.5% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 39,552 shares of the real estate investment trust’s stock valued at $11,684,000 after acquiring an additional 3,745 shares during the period. Townsquare Capital LLC boosted its position in shares of Essex Property Trust by 17.9% in the third quarter. Townsquare Capital LLC now owns 3,086 shares of the real estate investment trust’s stock valued at $912,000 after acquiring an additional 469 shares during the period. Finally, BNP Paribas Financial Markets boosted its position in shares of Essex Property Trust by 83.3% in the third quarter. BNP Paribas Financial Markets now owns 136,454 shares of the real estate investment trust’s stock valued at $40,311,000 after acquiring an additional 61,991 shares during the period. Hedge funds and other institutional investors own 96.51% of the company’s stock.

Essex Property Trust Stock Down 0.8 %

Shares of NYSE ESS opened at $310.46 on Friday. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 1.13. Essex Property Trust, Inc. has a 52 week low of $211.35 and a 52 week high of $317.73. The firm’s fifty day moving average is $297.12 and its 200 day moving average is $287.00. The company 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 (NYSE:ESS) last issued its earnings results on Tuesday, October 29th. The real estate investment trust reported $1.84 EPS for the quarter, missing the consensus estimate 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 firm had revenue of $450.70 million during the quarter, compared to analysts’ expectations of $445.88 million. During the same period in the previous year, the firm earned $3.78 earnings per share. On average, equities research analysts expect that Essex Property Trust, Inc. will post 15.56 earnings per share for the current year.

Essex Property Trust Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Monday, September 30th were issued a $2.45 dividend. The ex-dividend date of this dividend was Monday, September 30th. This represents a $9.80 annualized dividend and a yield of 3.16%. Essex Property Trust’s dividend payout ratio (DPR) is presently 114.49%.

Insiders Place Their Bets

In other Essex Property Trust news, CEO Angela L. Kleiman sold 8,080 shares of the company’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $315.10, for a total value of $2,546,008.00. Following the completion of the transaction, the chief executive officer now directly owns 9,494 shares in the company, valued at approximately $2,991,559.40. This represents a 45.98 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Anne Morrison sold 2,571 shares of the company’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $314.79, for a total transaction of $809,325.09. Following the completion of the transaction, the chief accounting officer now owns 2,321 shares of the company’s stock, valued at $730,627.59. This trade represents a 52.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 17,949 shares of company stock worth $5,663,763. 3.80% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms have recently commented on ESS. BNP Paribas began coverage on shares of Essex Property Trust in a research report on Wednesday, September 11th. They issued an “outperform” rating and a $333.00 price objective for the company. Truist Financial lifted their target price on shares of Essex Property Trust from $282.00 to $294.00 and gave the company a “hold” rating in a research report on Tuesday, August 27th. Wedbush lifted their target price on shares of Essex Property Trust from $264.00 to $301.00 and gave the company a “neutral” rating in a research report on Monday, August 5th. Piper Sandler lifted their target price on shares of Essex Property Trust from $315.00 to $355.00 and gave the company an “overweight” rating in a research report on Monday, August 26th. Finally, Bank of America lowered shares of Essex Property Trust from a “buy” rating to a “neutral” rating and lifted their target price for the company from $307.00 to $321.00 in a research report on Tuesday, September 24th. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average 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.