ORG Partners LLC Decreases Stock Position in Essex Property Trust, Inc. (NYSE:ESS)

ORG Partners LLC cut its stake in shares of Essex Property Trust, Inc. (NYSE:ESS - Free Report) by 74.8% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 686 shares of the real estate investment trust's stock after selling 2,039 shares during the quarter. ORG Partners LLC's holdings in Essex Property Trust were worth $203,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of the stock. State Board of Administration of Florida Retirement System increased its holdings in Essex Property Trust by 2.6% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 81,456 shares of the real estate investment trust's stock valued at $19,941,000 after purchasing an additional 2,083 shares during the period. Canada Pension Plan Investment Board lifted its stake in Essex Property Trust by 8.7% in the first quarter. Canada Pension Plan Investment Board now owns 225,045 shares of the real estate investment trust's stock worth $55,093,000 after acquiring an additional 18,000 shares during the period. Mizuho Markets Americas LLC boosted its holdings in Essex Property Trust by 107.9% in the first quarter. Mizuho Markets Americas LLC now owns 43,802 shares of the real estate investment trust's stock valued at $10,723,000 after acquiring an additional 22,736 shares in the last quarter. Caxton Associates LP purchased a new position in Essex Property Trust during the 1st quarter valued at $532,000. Finally, Swedbank AB bought a new position in Essex Property Trust in the 1st quarter worth $4,299,000. 96.51% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. Piper Sandler boosted their price target 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. Royal Bank of Canada upped their price target on Essex Property Trust from $284.00 to $288.00 and gave the stock an "outperform" rating in a research note on Thursday, August 1st. JPMorgan Chase & Co. raised their price objective on Essex Property Trust from $265.00 to $297.00 and gave the company a "neutral" rating in a research report on Monday, September 16th. Truist Financial lifted their price target 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. Finally, Wedbush upped their price target on Essex Property Trust from $264.00 to $301.00 and gave the stock a "neutral" rating in a research note on Monday, August 5th. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating and seven have issued a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $293.40.

Insider Activity

In related news, CAO Anne Morrison sold 2,571 shares of Essex Property Trust stock in a transaction that occurred 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 sale, the chief accounting officer now owns 2,321 shares of the company's stock, valued at approximately $730,627.59. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Essex Property Trust news, CAO Anne Morrison sold 2,571 shares of the business's stock in a transaction on Monday, September 16th. The shares were sold at an average price of $314.79, for a total value of $809,325.09. Following the sale, the chief accounting officer now owns 2,321 shares in the company, valued at $730,627.59. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Amal M. Johnson sold 2,453 shares of the firm's stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $300.00, for a total value of $735,900.00. Following the transaction, the director now owns 2,585 shares of the company's stock, valued at approximately $775,500. The trade was 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 worth $6,399,663 over the last ninety days. Corporate insiders own 3.80% of the company's stock.

Essex Property Trust Stock Performance

NYSE ESS traded up $4.86 on Wednesday, hitting $297.48. 224,946 shares of the company traded hands, compared to its average volume of 381,549. The business's 50 day moving average price is $295.56 and its 200-day moving average price is $274.91. Essex Property Trust, Inc. has a 52-week low of $203.85 and a 52-week high of $317.73. The company has a current ratio of 1.62, a quick ratio of 1.62 and a debt-to-equity ratio of 1.11. The company has a market capitalization of $19.10 billion, a price-to-earnings ratio of 36.31, a P/E/G ratio of 5.21 and a beta of 0.88.

Essex Property Trust (NYSE:ESS - Get Free Report) last released its earnings results on Tuesday, July 30th. The real estate investment trust reported $1.45 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.85 by ($2.40). Essex Property Trust had a return on equity of 9.14% and a net margin of 30.31%. The firm had revenue of $442.36 million during the quarter, compared to analysts' expectations of $433.26 million. During the same period in the prior year, the company posted $3.77 earnings per share. Equities analysts expect that Essex Property Trust, Inc. will post 15.55 earnings per share for the current year.

Essex Property Trust Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Monday, September 30th were issued a dividend of $2.45 per share. The ex-dividend date was Monday, September 30th. This represents a $9.80 dividend on an annualized basis and a yield of 3.29%. Essex Property Trust's dividend payout ratio is presently 119.80%.

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.