Vert Asset Management LLC Has $6.53 Million Stock Holdings in Essex Property Trust, Inc. (NYSE:ESS)

Vert Asset Management LLC increased its holdings in shares of Essex Property Trust, Inc. (NYSE:ESS) by 5.5% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 26,669 shares of the real estate investment trust’s stock after acquiring an additional 1,385 shares during the quarter. Essex Property Trust comprises about 2.7% of Vert Asset Management LLC’s investment portfolio, making the stock its 13th largest holding. Vert Asset Management LLC’s holdings in Essex Property Trust were worth $6,529,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of ESS. Hazelview Securities Inc. bought a new position in Essex Property Trust in the 1st quarter valued at about $13,513,000. Aurora Investment Managers LLC. increased its holdings in Essex Property Trust by 25.3% in the 1st quarter. Aurora Investment Managers LLC. now owns 10,441 shares of the real estate investment trust’s stock valued at $2,556,000 after buying an additional 2,105 shares during the period. Park Avenue Securities LLC grew its holdings in shares of Essex Property Trust by 55.7% during the 1st quarter. Park Avenue Securities LLC now owns 1,325 shares of the real estate investment trust’s stock valued at $324,000 after purchasing an additional 474 shares during the last quarter. Czech National Bank grew its holdings in shares of Essex Property Trust by 0.5% during the 1st quarter. Czech National Bank now owns 11,296 shares of the real estate investment trust’s stock valued at $2,765,000 after purchasing an additional 55 shares during the last quarter. Finally, Mather Group LLC. bought a new stake in shares of Essex Property Trust during the 1st quarter valued at approximately $173,000. 96.51% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, Director Keith R. Guericke sold 10,000 shares of the business’s stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $274.57, for a total value of $2,745,700.00. Following the transaction, the director now directly owns 16,118 shares of the company’s stock, valued at approximately $4,425,519.26. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Essex Property Trust news, CEO Angela L. Kleiman sold 3,780 shares of the company’s stock in a transaction dated Friday, June 21st. The shares were sold at an average price of $278.27, for a total transaction of $1,051,860.60. Following the sale, the chief executive officer now directly owns 9,494 shares of the company’s stock, valued at $2,641,895.38. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Keith R. Guericke sold 10,000 shares of the company’s stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $274.57, for a total transaction of $2,745,700.00. Following the sale, the director now directly owns 16,118 shares in the company, valued at $4,425,519.26. The disclosure for this sale can be found here. 3.80% of the stock is owned by insiders.

Wall Street Analyst Weigh In

ESS has been the topic of several recent research reports. Morgan Stanley lifted their target price on shares of Essex Property Trust from $230.00 to $250.00 and gave the stock an “equal weight” rating in a research report on Tuesday, May 14th. Mizuho lifted their target price on shares of Essex Property Trust from $250.00 to $266.00 and gave the stock a “buy” rating in a research report on Thursday, May 30th. Wells Fargo & Company lifted their target price on shares of Essex Property Trust from $232.00 to $269.00 and gave the stock an “equal weight” rating in a research report on Friday, May 31st. Scotiabank boosted their price target on shares of Essex Property Trust from $283.00 to $285.00 and gave the stock a “sector outperform” rating in a research report on Friday, June 14th. Finally, Wedbush boosted their price target on shares of Essex Property Trust from $240.00 to $264.00 and gave the stock a “neutral” rating in a research report on Monday, May 6th. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, Essex Property Trust presently has an average rating of “Hold” and an average target price of $258.63.

Essex Property Trust Stock Performance

Shares of NYSE:ESS traded up $0.28 during midday trading on Thursday, reaching $273.51. The company had a trading volume of 34,378 shares, compared to its average volume of 377,939. The company’s 50 day moving average price is $260.39 and its 200 day moving average price is $246.75. The company has a current ratio of 3.19, a quick ratio of 3.19 and a debt-to-equity ratio of 1.14. The stock has a market cap of $17.56 billion, a P/E ratio of 33.36, a P/E/G ratio of 3.86 and a beta of 0.84. Essex Property Trust, Inc. has a 52-week low of $203.85 and a 52-week high of $284.77.

Essex Property Trust Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 24th. Investors of record on Friday, June 28th will be issued a $2.45 dividend. This represents a $9.80 dividend on an annualized basis and a dividend yield of 3.58%. The ex-dividend date is Friday, June 28th. Essex Property Trust’s dividend payout ratio (DPR) is currently 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.