First Quadrant L P CA cut its position in Essex Property Trust Inc (NYSE:ESS) by 20.6% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,032 shares of the real estate investment trust’s stock after selling 268 shares during the quarter. First Quadrant L P CA’s holdings in Essex Property Trust were worth $237,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Retirement Network acquired a new position in shares of Essex Property Trust during the first quarter valued at about $31,000. BDO Wealth Advisors LLC purchased a new stake in Essex Property Trust in the first quarter valued at approximately $33,000. Valeo Financial Advisors LLC boosted its position in Essex Property Trust by 111.0% in the first quarter. Valeo Financial Advisors LLC now owns 211 shares of the real estate investment trust’s stock valued at $52,000 after buying an additional 111 shares during the last quarter. Private Capital Group LLC boosted its position in Essex Property Trust by 50.0% in the first quarter. Private Capital Group LLC now owns 231 shares of the real estate investment trust’s stock valued at $51,000 after buying an additional 77 shares during the last quarter. Finally, Quadrant Capital Group LLC boosted its position in Essex Property Trust by 18.9% in the fourth quarter. Quadrant Capital Group LLC now owns 384 shares of the real estate investment trust’s stock valued at $108,000 after buying an additional 61 shares during the last quarter. Hedge funds and other institutional investors own 94.52% of the company’s stock.
Shares of NYSE:ESS opened at $220.74 on Friday. Essex Property Trust Inc has a 1 year low of $175.81 and a 1 year high of $334.17. The firm has a market capitalization of $14.44 billion, a price-to-earnings ratio of 22.95, a price-to-earnings-growth ratio of 6.08 and a beta of 0.67. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.64 and a quick ratio of 1.64. The business’s 50 day moving average price is $229.73 and its 200-day moving average price is $256.98.
Essex Property Trust (NYSE:ESS) last announced its earnings results on Wednesday, May 6th. The real estate investment trust reported $4.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.40 by $1.36. Essex Property Trust had a return on equity of 9.94% and a net margin of 42.47%. The firm had revenue of $392.37 million for the quarter, compared to analyst estimates of $383.23 million. During the same quarter last year, the firm posted $3.23 EPS. On average, sell-side analysts expect that Essex Property Trust Inc will post 13.29 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were given a dividend of $2.0775 per share. The ex-dividend date of this dividend was Monday, June 29th. This represents a $8.31 dividend on an annualized basis and a dividend yield of 3.76%. Essex Property Trust’s dividend payout ratio (DPR) is 62.11%.
A number of brokerages recently commented on ESS. Piper Sandler dropped their target price on Essex Property Trust from $265.00 to $255.00 and set an “overweight” rating on the stock in a research report on Monday, July 27th. Stifel Nicolaus upped their target price on Essex Property Trust from $248.00 to $270.00 and gave the company a “buy” rating in a research report on Friday, May 8th. Raymond James lowered Essex Property Trust from a “market perform” rating to an “underperform” rating in a research report on Friday, June 12th. Citigroup lowered their price objective on Essex Property Trust from $320.00 to $210.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 7th. Finally, SunTrust Banks upped their price objective on Essex Property Trust from $262.00 to $268.00 and gave the stock a “hold” rating in a research report on Wednesday, May 27th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have given a buy rating to the company. Essex Property Trust currently has a consensus rating of “Hold” and a consensus target price of $290.54.
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 245 apartment communities with an additional 6 properties in various stages of active development.
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