Global X Japan Co. Ltd. Sells 277 Shares of Essex Property Trust, Inc. (NYSE:ESS)

Global X Japan Co. Ltd. lowered its stake in Essex Property Trust, Inc. (NYSE:ESS) by 15.8% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,475 shares of the real estate investment trust’s stock after selling 277 shares during the quarter. Global X Japan Co. Ltd.’s holdings in Essex Property Trust were worth $436,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. State Board of Administration of Florida Retirement System raised its stake in shares of Essex Property Trust by 2.6% in the first quarter. State Board of Administration of Florida Retirement System now owns 81,456 shares of the real estate investment trust’s stock worth $19,941,000 after buying an additional 2,083 shares during the period. Canada Pension Plan Investment Board raised its stake in shares of 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 buying an additional 18,000 shares during the period. Mizuho Markets Americas LLC raised its stake in shares of 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 worth $10,723,000 after buying an additional 22,736 shares during the period. ORG Partners LLC bought a new position in shares of Essex Property Trust in the second quarter worth about $743,000. Finally, Caxton Associates LP purchased a new stake in shares of Essex Property Trust during the first quarter worth about $532,000. Institutional investors own 96.51% of the company’s stock.

Insider Buying and Selling at Essex Property Trust

In other Essex Property Trust news, Director Amal M. Johnson sold 2,453 shares of Essex Property Trust stock in a transaction on Friday, August 30th. The stock was sold at an average price of $300.00, for a total transaction of $735,900.00. Following the completion of the sale, the director now directly owns 2,585 shares of the company’s stock, valued at $775,500. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Essex Property Trust news, Director Amal M. Johnson sold 2,453 shares of Essex Property Trust stock in a transaction on Friday, August 30th. The stock was sold at an average price of $300.00, for a total transaction of $735,900.00. Following the completion of the sale, the director now directly owns 2,585 shares of the company’s stock, valued at $775,500. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Amal M. Johnson sold 7,298 shares of Essex Property Trust stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $316.31, for a total value of $2,308,430.38. Following the completion of the transaction, the director now owns 2,585 shares in the company, valued at $817,661.35. This 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 valued at $6,399,663 in the last ninety days. Corporate insiders own 3.80% of the company’s stock.

Analyst Upgrades and Downgrades

ESS has been the subject of several research analyst reports. JPMorgan Chase & Co. increased their target price on Essex Property Trust from $265.00 to $297.00 and gave the stock a “neutral” rating in a research report on Monday, September 16th. Piper Sandler increased their target price on Essex Property Trust from $315.00 to $355.00 and gave the stock an “overweight” rating in a research report on Monday, August 26th. Evercore ISI increased their target price on Essex Property Trust from $283.00 to $287.00 and gave the stock an “in-line” rating in a research report on Monday, September 16th. BNP Paribas initiated coverage on Essex Property Trust in a research report on Wednesday, September 11th. They set an “outperform” rating and a $333.00 target price for the company. Finally, UBS Group increased their target price on Essex Property Trust from $261.00 to $283.00 and gave the stock a “neutral” rating in a research report on Thursday, July 18th. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $293.40.

Essex Property Trust Price Performance

NYSE:ESS opened at $293.40 on Wednesday. The firm has a market capitalization of $18.84 billion, a price-to-earnings ratio of 35.87, a PEG ratio of 5.21 and a beta of 0.88. Essex Property Trust, Inc. has a 1 year low of $203.85 and a 1 year high of $317.73. The business has a 50 day simple moving average of $296.92 and a 200-day simple moving average of $276.93. 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 (NYSE:ESS) last issued 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). Essex Property Trust had a return on equity of 9.14% and a net margin of 30.31%. The business had revenue of $442.36 million for the quarter, compared to the consensus estimate of $433.26 million. During the same period in the prior year, the business posted $3.77 earnings per share. Equities analysts forecast that Essex Property Trust, Inc. will post 15.55 EPS for the current year.

Essex Property Trust Dividend Announcement

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 dividend of $2.45 per share. This represents a $9.80 dividend on an annualized basis and a yield of 3.34%. The ex-dividend date was Monday, September 30th. Essex Property Trust’s dividend payout ratio (DPR) is presently 119.80%.

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.