Essex Property Trust, Inc. $ESS Shares Bought by Handelsbanken Fonder AB

Handelsbanken Fonder AB lifted its position in shares of Essex Property Trust, Inc. (NYSE:ESS) by 53.8% during the second quarter, HoldingsChannel reports. The firm owned 63,326 shares of the real estate investment trust’s stock after purchasing an additional 22,157 shares during the quarter. Handelsbanken Fonder AB’s holdings in Essex Property Trust were worth $18,465,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Nemes Rush Group LLC acquired a new stake in Essex Property Trust during the 4th quarter valued at $27,000. Generali Asset Management SPA SGR purchased a new position in Essex Property Trust in the 4th quarter valued at about $29,000. Cassaday & Co Wealth Management LLC purchased a new position in Essex Property Trust in the 1st quarter valued at about $38,000. Western Wealth Management LLC acquired a new stake in shares of Essex Property Trust during the first quarter valued at about $44,000. Finally, Elevation Wealth Partners LLC grew its stake in shares of Essex Property Trust by 523.1% during the second quarter. Elevation Wealth Partners LLC now owns 162 shares of the real estate investment trust’s stock valued at $47,000 after acquiring an additional 136 shares in the last quarter. 96.51% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Director Mary Kasaris sold 600 shares of the business’s stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $279.45, for a total value of $167,670.00. Following the completion of the sale, the director directly owned 2,394 shares of the company’s stock, valued at $669,003.30. The trade was a 20.04% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 3.47% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on ESS. Citizens Jmp raised Essex Property Trust from a “market perform” rating to an “outperform” rating and set a $330.00 target price on the stock in a research report on Friday, July 31st. Scotiabank raised their price objective on Essex Property Trust from $290.00 to $307.00 and gave the company an “outperform” rating in a research note on Thursday, July 9th. Weiss Ratings lowered Essex Property Trust from a “buy (b-)” rating to a “hold (c)” rating in a research note on Monday, August 3rd. Mizuho lifted their price objective on Essex Property Trust from $285.00 to $308.00 and gave the stock an “outperform” rating in a report on Wednesday, June 10th. Finally, Piper Sandler upped their target price on Essex Property Trust from $310.00 to $352.00 and gave the company an “overweight” rating in a research report on Tuesday, July 21st. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $303.99.

Essex Property Trust Price Performance

Shares of ESS stock opened at $281.09 on Thursday. The firm has a fifty day moving average of $288.28 and a two-hundred day moving average of $268.02. The firm has a market cap of $18.07 billion, a P/E ratio of 43.72, a P/E/G ratio of 10.35 and a beta of 0.69. Essex Property Trust, Inc. has a 1-year low of $238.46 and a 1-year high of $303.35. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.60 and a quick ratio of 0.60.

Essex Property Trust Profile

Essex Property Trust, Inc (NYSE: ESS) is a publicly traded real estate investment trust that acquires, develops, owns and operates multifamily residential properties. The company focuses on market-rate apartment communities and delivers a full suite of property services including leasing, resident services, asset management, and capital improvement programs designed to preserve and enhance long‑term property values.

Essex concentrates its portfolio in West Coast markets, with a significant presence in California and the Pacific Northwest.