DekaBank Deutsche Girozentrale Sells 4,411 Shares of Essex Property Trust, Inc. (NYSE:ESS)

DekaBank Deutsche Girozentrale lowered its position in shares of Essex Property Trust, Inc. (NYSE:ESS - Free Report) by 8.1% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 50,197 shares of the real estate investment trust's stock after selling 4,411 shares during the period. DekaBank Deutsche Girozentrale owned about 0.08% of Essex Property Trust worth $14,580,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Continuum Advisory LLC raised its holdings in shares of Essex Property Trust by 214.3% during the second quarter. Continuum Advisory LLC now owns 110 shares of the real estate investment trust's stock valued at $30,000 after acquiring an additional 75 shares in the last quarter. UMB Bank n.a. raised its holdings in Essex Property Trust by 600.0% in the 2nd 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. purchased a new stake in shares of Essex Property Trust in the 2nd quarter worth about $31,000. Whittier Trust Co. of Nevada Inc. boosted its stake in shares of Essex Property Trust by 121.8% during the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 193 shares of the real estate investment trust's stock valued at $53,000 after purchasing an additional 106 shares in the last quarter. Finally, Ridgewood Investments LLC purchased a new position in shares of Essex Property Trust during the second quarter valued at about $66,000. Institutional investors own 96.51% of the company's stock.

Insider Buying and Selling at Essex Property Trust

In other news, CAO Anne Morrison sold 2,571 shares of the stock in a transaction that occurred 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 transaction, the chief accounting officer now owns 2,321 shares in the company, valued at $730,627.59. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, CAO Anne Morrison sold 2,571 shares of the firm's stock in a transaction on Monday, September 16th. The stock was sold at an average price of $314.79, for a total value of $809,325.09. Following the transaction, the chief accounting officer now directly 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. Also, CEO Angela L. Kleiman sold 8,080 shares of Essex Property Trust stock in a transaction on Monday, September 16th. The shares were sold at an average price of $315.10, for a total value of $2,546,008.00. Following the transaction, the chief executive officer now owns 9,494 shares in the company, valued at $2,991,559.40. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 20,402 shares of company stock worth $6,399,663 in the last three months. 3.90% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Wedbush lifted their price objective on Essex Property Trust from $264.00 to $301.00 and gave the company a "neutral" rating in a research report on Monday, August 5th. Truist Financial upped their price target on Essex Property Trust from $282.00 to $294.00 and gave the stock a "hold" rating in a research note on Tuesday, August 27th. 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. BNP Paribas initiated coverage on shares of Essex Property Trust in a research report on Wednesday, September 11th. They issued an "outperform" rating and a $333.00 target price on the stock. Finally, UBS Group increased their price target on shares of Essex Property Trust from $261.00 to $283.00 and gave the stock a "neutral" rating in a research note on Thursday, July 18th. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $293.40.

Essex Property Trust Stock Performance

Essex Property Trust stock traded down $4.41 during midday trading on Wednesday, reaching $294.02. 470,711 shares of the company traded hands, compared to its average volume of 378,095. The company has a debt-to-equity ratio of 1.11, a current ratio of 1.62 and a quick ratio of 1.62. Essex Property Trust, Inc. has a 12 month low of $204.64 and a 12 month high of $317.73. The firm has a market capitalization of $18.88 billion, a price-to-earnings ratio of 36.44, a price-to-earnings-growth ratio of 5.31 and a beta of 0.88. The business has a 50 day moving average of $298.27 and a two-hundred day moving average of $278.87.

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

Essex Property Trust Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Monday, September 30th were given a $2.45 dividend. The ex-dividend date of this dividend was Monday, September 30th. This represents a $9.80 annualized dividend and a yield of 3.33%. Essex Property Trust's payout ratio is 121.29%.

About Essex Property Trust

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.