abrdn plc Has $41.51 Million Holdings in Essex Property Trust, Inc. (NYSE:ESS)

abrdn plc increased its position in shares of Essex Property Trust, Inc. (NYSE:ESS - Free Report) by 4.5% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 140,250 shares of the real estate investment trust's stock after acquiring an additional 6,092 shares during the quarter. abrdn plc owned 0.22% of Essex Property Trust worth $41,508,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Legacy Wealth Asset Management LLC grew its position in Essex Property Trust by 4.7% during the third quarter. Legacy Wealth Asset Management LLC now owns 775 shares of the real estate investment trust's stock valued at $229,000 after purchasing an additional 35 shares in the last quarter. EP Wealth Advisors LLC boosted its holdings in shares of Essex Property Trust by 3.7% during the 1st quarter. EP Wealth Advisors LLC now owns 1,228 shares of the real estate investment trust's stock worth $301,000 after buying an additional 44 shares during the period. M&R Capital Management Inc. raised its stake in Essex Property Trust by 5.4% during the 2nd quarter. M&R Capital Management Inc. now owns 1,014 shares of the real estate investment trust's stock valued at $276,000 after purchasing an additional 52 shares during the last quarter. Quilter Plc raised its stake in Essex Property Trust by 0.6% during the 2nd quarter. Quilter Plc now owns 8,698 shares of the real estate investment trust's stock valued at $2,368,000 after purchasing an additional 52 shares during the last quarter. Finally, Mather Group LLC. raised its stake in Essex Property Trust by 7.4% during the 3rd quarter. Mather Group LLC. now owns 781 shares of the real estate investment trust's stock valued at $231,000 after purchasing an additional 54 shares during the last quarter. 96.51% of the stock is owned by hedge funds and other institutional investors.

Essex Property Trust Price Performance

NYSE:ESS traded down $10.22 during mid-day trading on Thursday, reaching $283.80. 594,187 shares of the company were exchanged, compared to its average volume of 379,119. Essex Property Trust, Inc. has a 12 month low of $204.64 and a 12 month high of $317.73. The company has a fifty day moving average of $298.24 and a 200 day moving average of $279.01. The company has a quick ratio of 1.62, a current ratio of 1.62 and a debt-to-equity ratio of 1.11. The stock has a market cap of $18.23 billion, a PE ratio of 35.12, a PEG ratio of 5.31 and a beta of 0.88.

Essex Property Trust (NYSE:ESS - Get Free Report) last issued 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). The business had revenue of $442.36 million during the quarter, compared to the consensus estimate of $433.26 million. Essex Property Trust had a net margin of 30.31% and a return on equity of 9.14%. During the same period last year, the business posted $3.77 EPS. On average, research analysts anticipate that Essex Property Trust, Inc. will post 15.55 EPS for the current fiscal year.

Essex Property Trust Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Monday, September 30th were paid a $2.45 dividend. This represents a $9.80 annualized dividend and a dividend yield of 3.45%. The ex-dividend date was Monday, September 30th. Essex Property Trust's dividend payout ratio (DPR) is presently 121.29%.

Insider Activity

In other news, 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. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Amal M. Johnson sold 2,453 shares of the stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $300.00, for a total value of $735,900.00. Following the sale, the director now directly owns 2,585 shares in the company, valued at $775,500. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Amal M. Johnson sold 7,298 shares of the firm's stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $316.31, for a total transaction of $2,308,430.38. Following the sale, the director now owns 2,585 shares in the company, valued at $817,661.35. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 20,402 shares of company stock valued at $6,399,663. 3.90% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. UBS Group upped their target price on shares of Essex Property Trust from $261.00 to $283.00 and gave the company a "neutral" rating in a research note on Thursday, July 18th. Evercore ISI upped their target price on shares of Essex Property Trust from $283.00 to $287.00 and gave the company an "in-line" rating in a research note on Monday, September 16th. JPMorgan Chase & Co. increased their price objective on shares of Essex Property Trust from $265.00 to $297.00 and gave the company a "neutral" rating in a research note on Monday, September 16th. Bank of America cut shares of Essex Property Trust from a "buy" rating to a "neutral" rating and increased their price objective for the company from $307.00 to $321.00 in a research note on Tuesday, September 24th. Finally, BNP Paribas started coverage on shares of Essex Property Trust in a research note on Wednesday, September 11th. They issued an "outperform" rating and a $333.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating and six have assigned a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $293.40.

Essex Property Trust Company 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.