Essex Property Trust, Inc. (NYSE:ESS) Shares Acquired by Siemens Fonds Invest GmbH

Siemens Fonds Invest GmbH grew its stake in Essex Property Trust, Inc. (NYSE:ESS - Free Report) by 355.4% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,197 shares of the real estate investment trust's stock after purchasing an additional 2,495 shares during the period. Siemens Fonds Invest GmbH's holdings in Essex Property Trust were worth $913,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Kestra Investment Management LLC bought a new stake in shares of Essex Property Trust in the 4th quarter valued at approximately $25,000. Newbridge Financial Services Group Inc. bought a new stake in shares of Essex Property Trust in the 4th quarter valued at approximately $45,000. Ameriflex Group Inc. bought a new stake in shares of Essex Property Trust in the 4th quarter valued at approximately $59,000. Assetmark Inc. lifted its stake in shares of Essex Property Trust by 124.0% in the 4th quarter. Assetmark Inc. now owns 224 shares of the real estate investment trust's stock valued at $64,000 after purchasing an additional 124 shares during the last quarter. Finally, Jones Financial Companies Lllp lifted its stake in shares of Essex Property Trust by 486.8% in the 4th quarter. Jones Financial Companies Lllp now owns 223 shares of the real estate investment trust's stock valued at $64,000 after purchasing an additional 185 shares during the last quarter. 96.51% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. Evercore ISI raised their price target on Essex Property Trust from $297.00 to $302.00 and gave the stock an "in-line" rating in a research note on Monday, February 10th. Piper Sandler reissued an "overweight" rating and set a $355.00 price target (down from $370.00) on shares of Essex Property Trust in a research note on Friday, May 23rd. Mizuho decreased their price target on Essex Property Trust from $314.00 to $293.00 and set an "outperform" rating for the company in a research note on Friday, May 23rd. JMP Securities reissued a "market perform" rating on shares of Essex Property Trust in a research note on Thursday, February 6th. Finally, Truist Financial raised their price target on Essex Property Trust from $292.00 to $304.00 and gave the stock a "hold" rating in a research note on Monday, March 10th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and seven have given a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $312.17.

Essex Property Trust Stock Up 0.6%

Shares of NYSE:ESS traded up $1.77 on Friday, reaching $283.85. The company had a trading volume of 820,599 shares, compared to its average volume of 410,463. Essex Property Trust, Inc. has a 52-week low of $243.85 and a 52-week high of $317.73. The firm's 50 day simple moving average is $280.57 and its 200-day simple moving average is $288.78. The firm has a market capitalization of $18.28 billion, a PE ratio of 24.60, a PEG ratio of 6.84 and a beta of 0.78. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 1.15.

Essex Property Trust (NYSE:ESS - Get Free Report) last announced its earnings results on Tuesday, April 29th. The real estate investment trust reported $3.97 earnings per share for the quarter, topping the consensus estimate of $3.92 by $0.05. Essex Property Trust had a return on equity of 13.05% and a net margin of 41.79%. The firm had revenue of $464.58 million for the quarter, compared to the consensus estimate of $458.03 million. During the same period in the previous year, the business earned $3.83 EPS. As a group, analysts expect that Essex Property Trust, Inc. will post 15.96 earnings per share for the current fiscal year.

Essex Property Trust Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th will be given a dividend of $2.57 per share. The ex-dividend date is Monday, June 30th. This represents a $10.28 dividend on an annualized basis and a yield of 3.62%. Essex Property Trust's dividend payout ratio is currently 98.37%.

Insiders Place Their Bets

In other Essex Property Trust news, CEO Angela L. Kleiman sold 4,929 shares of Essex Property Trust stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $314.99, for a total transaction of $1,552,585.71. Following the completion of the sale, the chief executive officer now owns 13,662 shares of the company's stock, valued at approximately $4,303,393.38. The trade was a 26.51% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Keith R. Guericke sold 7,298 shares of Essex Property Trust stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $315.00, for a total value of $2,298,870.00. Following the sale, the director now directly owns 16,118 shares of the company's stock, valued at approximately $5,077,170. This represents a 31.17% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 21,345 shares of company stock valued at $6,682,539. 3.46% of the stock is owned by company insiders.

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.