BNP Paribas Financial Markets Increases Holdings in Essex Property Trust, Inc. (NYSE:ESS)

BNP Paribas Financial Markets grew its holdings in shares of Essex Property Trust, Inc. (NYSE:ESSFree Report) by 93.2% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 110,546 shares of the real estate investment trust’s stock after purchasing an additional 53,340 shares during the quarter. BNP Paribas Financial Markets owned approximately 0.17% of Essex Property Trust worth $27,063,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. increased its holdings in Essex Property Trust by 10.0% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 16,109 shares of the real estate investment trust’s stock worth $3,625,000 after acquiring an additional 1,466 shares during the last quarter. Diversify Advisory Services LLC purchased a new stake in Essex Property Trust in the 1st quarter worth about $3,786,000. Van ECK Associates Corp increased its holdings in Essex Property Trust by 3.2% in the 1st quarter. Van ECK Associates Corp now owns 27,031 shares of the real estate investment trust’s stock worth $6,617,000 after acquiring an additional 841 shares during the last quarter. SpiderRock Advisors LLC purchased a new stake in Essex Property Trust in the 1st quarter worth about $601,000. Finally, Vest Financial LLC increased its holdings in Essex Property Trust by 23.6% in the 1st quarter. Vest Financial LLC now owns 154,928 shares of the real estate investment trust’s stock worth $37,928,000 after acquiring an additional 29,607 shares during the last quarter. 96.51% of the stock is owned by hedge funds and other institutional investors.

Essex Property Trust Stock Performance

NYSE:ESS opened at $272.24 on Monday. The business has a 50 day moving average of $265.40 and a 200 day moving average of $248.56. The company has a market capitalization of $17.48 billion, a price-to-earnings ratio of 33.28, a PEG ratio of 3.81 and a beta of 0.86. Essex Property Trust, Inc. has a 1-year low of $203.85 and a 1-year high of $284.77. The company has a debt-to-equity ratio of 1.14, a current ratio of 3.19 and a quick ratio of 3.19.

Essex Property Trust Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 24th. Investors of record on Friday, June 28th will be given a $2.45 dividend. The ex-dividend date of this dividend is Friday, June 28th. This represents a $9.80 dividend on an annualized basis and a yield of 3.60%. Essex Property Trust’s payout ratio is 119.80%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Stifel Nicolaus lifted their price objective on Essex Property Trust from $239.50 to $243.50 and gave the stock a “hold” rating in a report on Wednesday, May 1st. Morgan Stanley lifted their price objective on Essex Property Trust from $230.00 to $250.00 and gave the stock an “equal weight” rating in a report on Tuesday, May 14th. UBS Group lifted their target price on Essex Property Trust from $250.00 to $261.00 and gave the company a “neutral” rating in a report on Tuesday, May 14th. Scotiabank lifted their target price on Essex Property Trust from $283.00 to $285.00 and gave the company a “sector outperform” rating in a report on Friday, June 14th. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $315.00 target price on shares of Essex Property Trust in a report on Friday, June 28th. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, Essex Property Trust currently has an average rating of “Hold” and a consensus target price of $258.63.

Read Our Latest Stock Analysis on Essex Property Trust

Insider Buying and Selling

In related news, CEO Angela L. Kleiman sold 3,780 shares of the business’s stock in a transaction that occurred on Friday, June 21st. The stock was sold at an average price of $278.27, for a total value 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Essex Property Trust news, Director Keith R. Guericke sold 10,000 shares of Essex Property Trust stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $274.57, for a total value of $2,745,700.00. Following the transaction, the director now directly owns 16,118 shares of the company’s stock, valued at approximately $4,425,519.26. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Angela L. Kleiman sold 3,780 shares of Essex Property Trust stock in a transaction that occurred on Friday, June 21st. The stock was sold at an average price of $278.27, for a total value of $1,051,860.60. Following the completion of the transaction, the chief executive officer now directly owns 9,494 shares in the company, valued at $2,641,895.38. The disclosure for this sale can be found here. 3.90% of the stock is currently owned by corporate insiders.

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.

See Also

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

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