Norden Group LLC Grows Position in Essex Property Trust, Inc. (NYSE:ESS)

Norden Group LLC boosted its stake in shares of Essex Property Trust, Inc. (NYSE:ESSFree Report) by 508.4% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 11,286 shares of the real estate investment trust’s stock after purchasing an additional 9,431 shares during the period. Norden Group LLC’s holdings in Essex Property Trust were worth $2,763,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Cornercap Investment Counsel Inc. lifted its position in shares of Essex Property Trust by 2.4% in the fourth quarter. Cornercap Investment Counsel Inc. now owns 1,913 shares of the real estate investment trust’s stock worth $474,000 after buying an additional 45 shares in the last quarter. Commerzbank Aktiengesellschaft FI increased its stake in Essex Property Trust by 1.8% during the fourth quarter. Commerzbank Aktiengesellschaft FI now owns 2,552 shares of the real estate investment trust’s stock worth $633,000 after acquiring an additional 45 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. increased its stake in Essex Property Trust by 2.8% during the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 1,866 shares of the real estate investment trust’s stock worth $463,000 after acquiring an additional 51 shares during the last quarter. GAMMA Investing LLC increased its stake in Essex Property Trust by 10.3% during the first quarter. GAMMA Investing LLC now owns 591 shares of the real estate investment trust’s stock worth $145,000 after acquiring an additional 55 shares during the last quarter. Finally, Czech National Bank increased its stake in Essex Property Trust by 0.5% during the first quarter. Czech National Bank now owns 11,296 shares of the real estate investment trust’s stock worth $2,765,000 after acquiring an additional 55 shares during the last quarter. 96.51% of the stock is currently owned by hedge funds and other institutional investors.

Essex Property Trust Stock Performance

Shares of ESS opened at $269.60 on Friday. Essex Property Trust, Inc. has a 12 month low of $203.85 and a 12 month high of $284.77. The stock has a fifty day moving average price of $264.44 and a 200-day moving average price of $248.15. The company has a current ratio of 3.19, a quick ratio of 3.19 and a debt-to-equity ratio of 1.14. The firm has a market cap of $17.31 billion, a PE ratio of 32.96, a P/E/G ratio of 3.77 and a beta of 0.86.

Essex Property Trust Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 24th. Stockholders of record on Friday, June 28th will be issued a dividend of $2.45 per share. The ex-dividend date of this dividend is Friday, June 28th. This represents a $9.80 annualized dividend and a dividend yield of 3.64%. Essex Property Trust’s dividend payout ratio is presently 119.80%.

Insider Activity

In other news, CEO Angela L. Kleiman sold 3,780 shares of the stock in a transaction on Friday, June 21st. The stock was sold at an average price of $278.27, for a total transaction of $1,051,860.60. Following the completion of the sale, the chief executive officer now owns 9,494 shares in the company, valued at approximately $2,641,895.38. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, CEO Angela L. Kleiman sold 3,780 shares of the stock in a transaction on Friday, June 21st. The stock was sold at an average price of $278.27, for a total transaction of $1,051,860.60. Following the completion of the sale, the chief executive officer now owns 9,494 shares in the company, valued at approximately $2,641,895.38. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Keith R. Guericke sold 10,000 shares of the company’s stock in a transaction on Friday, June 14th. The shares were sold at an average price of $274.57, for a total value of $2,745,700.00. Following the completion of the transaction, the director now directly owns 16,118 shares in the company, valued at $4,425,519.26. The disclosure for this sale can be found here. Company insiders own 3.90% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Bank of America raised Essex Property Trust from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $250.00 to $275.00 in a research note on Monday, April 1st. Stifel Nicolaus boosted their price objective on Essex Property Trust from $239.50 to $243.50 and gave the stock a “hold” rating in a research note on Wednesday, May 1st. Truist Financial boosted their price objective on Essex Property Trust from $255.00 to $282.00 and gave the stock a “hold” rating in a research note on Monday, June 24th. JPMorgan Chase & Co. boosted their price objective on Essex Property Trust from $244.00 to $265.00 and gave the stock a “neutral” rating in a research note on Monday, June 17th. Finally, Wedbush upped their target price on Essex Property Trust from $240.00 to $264.00 and gave the company a “neutral” rating in a research note on Monday, May 6th. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Essex Property Trust has a consensus rating of “Hold” and a consensus target price of $258.63.

Read Our Latest Stock Analysis on Essex Property Trust

Essex Property Trust Company Profile

(Free Report)

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.

Featured Stories

Want to see what other hedge funds are holding ESS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Essex Property Trust, Inc. (NYSE:ESSFree Report).

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

Receive News & Ratings for Essex Property Trust Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Essex Property Trust and related companies with MarketBeat.com's FREE daily email newsletter.