56,380 Shares in Essex Property Trust, Inc. (NYSE:ESS) Acquired by Hazelview Securities Inc.

Hazelview Securities Inc. purchased a new position in shares of Essex Property Trust, Inc. (NYSE:ESS) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 56,380 shares of the real estate investment trust’s stock, valued at approximately $13,513,000. Essex Property Trust makes up approximately 2.5% of Hazelview Securities Inc.’s portfolio, making the stock its 18th largest position. Hazelview Securities Inc. owned approximately 0.09% of Essex Property Trust at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. SG Americas Securities LLC lifted its position in Essex Property Trust by 632.8% during the 4th quarter. SG Americas Securities LLC now owns 15,001 shares of the real estate investment trust’s stock worth $3,719,000 after acquiring an additional 12,954 shares in the last quarter. Daiwa Securities Group Inc. raised its position in shares of Essex Property Trust by 201.1% in the 4th quarter. Daiwa Securities Group Inc. now owns 534,964 shares of the real estate investment trust’s stock valued at $132,639,000 after purchasing an additional 357,268 shares in the last quarter. Victory Capital Management Inc. raised its position in shares of Essex Property Trust by 11.1% in the 4th quarter. Victory Capital Management Inc. now owns 49,277 shares of the real estate investment trust’s stock valued at $12,218,000 after purchasing an additional 4,943 shares in the last quarter. JLP Asset Management LLC acquired a new position in shares of Essex Property Trust in the 4th quarter valued at approximately $2,802,000. Finally, Kingswood Wealth Advisors LLC acquired a new position in shares of Essex Property Trust in the 4th quarter valued at approximately $3,304,000. 96.51% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ESS has been the topic of a number of recent analyst reports. Piper Sandler upped their target price on Essex Property Trust from $291.00 to $315.00 and gave the company an “overweight” rating in a research report on Monday, May 6th. Wells Fargo & Company boosted their price target on Essex Property Trust from $232.00 to $269.00 and gave the company an “equal weight” rating in a report on Friday, May 31st. Stifel Nicolaus upped their price objective on Essex Property Trust from $239.50 to $243.50 and gave the company a “hold” rating in a report on Wednesday, May 1st. Mizuho upped their price objective on Essex Property Trust from $250.00 to $266.00 and gave the company a “buy” rating in a report on Thursday, May 30th. Finally, Truist Financial upped their price objective on Essex Property Trust from $255.00 to $282.00 and gave the company a “hold” rating in a report on Monday. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, Essex Property Trust currently has an average rating of “Hold” and a consensus price target of $258.63.

Essex Property Trust Stock Down 0.9 %

ESS stock traded down $2.57 during mid-day trading on Wednesday, hitting $273.05. The stock had a trading volume of 114,015 shares, compared to its average volume of 379,334. The company has a current ratio of 3.19, a quick ratio of 3.19 and a debt-to-equity ratio of 1.14. Essex Property Trust, Inc. has a 1-year low of $203.85 and a 1-year high of $284.77. The company has a fifty day moving average of $260.39 and a 200 day moving average of $246.75. The stock has a market capitalization of $17.53 billion, a price-to-earnings ratio of 33.62, a PEG ratio of 3.86 and a beta of 0.84.

Essex Property Trust Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 24th. Investors of record on Friday, June 28th will be paid a dividend of $2.45 per share. The ex-dividend date is Friday, June 28th. This represents a $9.80 annualized dividend and a yield of 3.59%. Essex Property Trust’s payout ratio is 119.80%.

Insiders Place Their Bets

In other Essex Property Trust news, CEO Angela L. Kleiman sold 3,780 shares of the company’s stock in a transaction on Friday, June 21st. The shares were 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 shares were sold at an average price of $274.57, for a total value of $2,745,700.00. Following the transaction, the director now owns 16,118 shares of the company’s stock, valued at $4,425,519.26. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, 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 sale, the chief executive officer now directly owns 9,494 shares of the company’s stock, valued at approximately $2,641,895.38. The disclosure for this sale can be found here. Corporate insiders own 3.80% of the company’s stock.

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.