Ashton Thomas Private Wealth LLC Purchases Shares of 3,953 Essex Property Trust, Inc. (NYSE:ESS)

Ashton Thomas Private Wealth LLC purchased a new stake in Essex Property Trust, Inc. (NYSE:ESS) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 3,953 shares of the real estate investment trust’s stock, valued at approximately $968,000.

Other large investors have also recently bought and sold shares of the company. Lindbrook Capital LLC boosted its holdings in Essex Property Trust by 111.5% in the 4th quarter. Lindbrook Capital LLC now owns 110 shares of the real estate investment trust’s stock valued at $27,000 after purchasing an additional 58 shares during the period. Vima LLC bought a new position in Essex Property Trust in the 4th quarter valued at $40,000. Bruce G. Allen Investments LLC bought a new position in Essex Property Trust in the 4th quarter valued at $41,000. Bear Mountain Capital Inc. bought a new position in Essex Property Trust in the 4th quarter valued at $55,000. Finally, Blue Trust Inc. raised its position in shares of Essex Property Trust by 645.2% during the 4th quarter. Blue Trust Inc. now owns 231 shares of the real estate investment trust’s stock valued at $57,000 after buying an additional 200 shares in the last quarter. 96.51% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, CEO Angela L. Kleiman sold 3,780 shares of the stock in a transaction dated Friday, June 21st. The shares were sold at an average price of $278.27, for a total value of $1,051,860.60. Following the completion of the transaction, 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 this link. In related news, CEO Angela L. Kleiman sold 3,780 shares of the stock in a transaction dated Friday, June 21st. The shares were sold at an average price of $278.27, for a total value of $1,051,860.60. Following the completion of the transaction, 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 this link. Also, Director Keith R. Guericke sold 10,000 shares of the stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $274.57, for a total transaction of $2,745,700.00. Following the completion of the transaction, the director now directly owns 16,118 shares of the company’s stock, valued at $4,425,519.26. The disclosure for this sale can be found here. 3.90% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts recently commented on ESS shares. Truist Financial increased their target price on Essex Property Trust from $255.00 to $282.00 and gave the company a “hold” rating in a research note on Monday, June 24th. StockNews.com raised Essex Property Trust from a “sell” rating to a “hold” rating in a research note on Wednesday, May 1st. Mizuho increased their target price on Essex Property Trust from $250.00 to $266.00 and gave the company a “buy” rating in a research note on Thursday, May 30th. Piper Sandler reissued an “overweight” rating and issued a $315.00 target price on shares of Essex Property Trust in a research note on Friday, June 28th. Finally, Raymond James raised Essex Property Trust from a “market perform” rating to an “outperform” rating and set a $265.00 target price on the stock in a research note on Monday, March 18th. Two investment 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. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $258.63.

Essex Property Trust Trading Down 0.1 %

Shares of Essex Property Trust stock traded down $0.17 during trading on Friday, reaching $269.43. 33,543 shares of the stock were exchanged, compared to its average volume of 377,646. The company has a quick ratio of 3.19, a current ratio of 3.19 and a debt-to-equity ratio of 1.14. The stock’s fifty day moving average is $264.89 and its 200 day moving average is $248.30. The firm has a market cap of $17.30 billion, a price-to-earnings ratio of 32.96, a price-to-earnings-growth ratio of 3.77 and a beta of 0.86. Essex Property Trust, Inc. has a 1 year low of $203.85 and a 1 year high of $284.77.

Essex Property Trust Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 24th. Stockholders of record on Friday, June 28th will be issued a dividend of $2.45 per share. The ex-dividend date of this dividend is Friday, June 28th. This represents a $9.80 dividend on an annualized basis and a dividend yield of 3.64%. Essex Property Trust’s dividend payout ratio is currently 119.80%.

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.