Essex Property Trust, Inc. (NYSE:ESS) Stake Lifted by Robeco Institutional Asset Management B.V.

Robeco Institutional Asset Management B.V. increased its stake in shares of Essex Property Trust, Inc. (NYSE:ESS) by 205.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 202,552 shares of the real estate investment trust’s stock after buying an additional 136,240 shares during the quarter. Robeco Institutional Asset Management B.V. owned about 0.32% of Essex Property Trust worth $59,838,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. 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 in the last quarter. UMB Bank n.a. grew its stake 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 worth $30,000 after purchasing 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 worth $31,000. Whittier Trust Co. of Nevada Inc. grew 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 worth $53,000 after purchasing an additional 106 shares in the last quarter. Finally, Ridgewood Investments LLC bought a new position in shares of Essex Property Trust in the second quarter worth $66,000. 96.51% of the stock is currently owned by institutional investors.

Essex Property Trust Stock Up 1.3 %

Shares of Essex Property Trust stock opened at $280.61 on Tuesday. The company has a current ratio of 1.14, a quick ratio of 1.62 and a debt-to-equity ratio of 1.13. Essex Property Trust, Inc. has a 1 year low of $204.64 and a 1 year high of $317.73. The stock has a 50-day moving average price of $297.58 and a 200 day moving average price of $280.28. The company has a market cap of $18.03 billion, a P/E ratio of 32.78, a P/E/G ratio of 5.13 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 earnings per share for the quarter, missing the consensus estimate of $3.88 by ($2.04). The firm had revenue of $450.70 million during the quarter, compared to analyst estimates of $445.88 million. Essex Property Trust had a return on equity of 9.72% and a net margin of 31.55%. During the same period in the previous year, the company earned $3.78 earnings per share. As a group, analysts expect 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 issued a dividend of $2.45 per share. This represents a $9.80 dividend on an annualized basis and a dividend yield of 3.49%. The ex-dividend date was Monday, September 30th. Essex Property Trust’s dividend payout ratio is 114.49%.

Insider Buying and Selling at Essex Property Trust

In other Essex Property Trust news, Director Amal M. Johnson sold 7,298 shares of the firm’s stock in a transaction that occurred on 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 sale, the director now 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 transaction was disclosed in a filing with the SEC, which is available through this link. In other Essex Property Trust news, Director Amal M. Johnson sold 7,298 shares of the firm’s stock in a transaction that occurred on 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 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Angela L. Kleiman sold 8,080 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $315.10, for a total value of $2,546,008.00. Following the completion of the sale, the chief executive officer now owns 9,494 shares of the company’s stock, valued at $2,991,559.40. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 20,402 shares of company stock valued at $6,399,663 in the last 90 days. 3.80% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. The Goldman Sachs Group assumed coverage on Essex Property Trust in a research note on Wednesday, September 4th. They issued a “neutral” rating and a $318.00 price target for the company. Wedbush upped 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. BNP Paribas began coverage on Essex Property Trust in a report on Wednesday, September 11th. They issued an “outperform” rating and a $333.00 price objective for the company. Piper Sandler upped 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. Finally, Bank of America lowered Essex Property Trust from a “buy” rating to a “neutral” rating and upped their price objective for the company from $307.00 to $321.00 in a report on Tuesday, September 24th. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, Essex Property Trust currently has an average rating of “Hold” and an average target price of $293.40.

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.