Achmea Investment Management B.V. Buys 8,420 Shares of Essex Property Trust, Inc. (NYSE:ESS)

Achmea Investment Management B.V. boosted its stake in shares of Essex Property Trust, Inc. (NYSE:ESS - Free Report) by 39.4% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 29,772 shares of the real estate investment trust's stock after purchasing an additional 8,420 shares during the quarter. Achmea Investment Management B.V.'s holdings in Essex Property Trust were worth $9,128,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in ESS. Ameriflex Group Inc. bought a new stake in Essex Property Trust during the fourth quarter worth approximately $59,000. Assetmark Inc. boosted its position in Essex Property Trust by 124.0% during the fourth quarter. Assetmark Inc. now owns 224 shares of the real estate investment trust's stock worth $64,000 after purchasing an additional 124 shares during the period. Jones Financial Companies Lllp boosted its position in Essex Property Trust by 486.8% during the fourth quarter. Jones Financial Companies Lllp now owns 223 shares of the real estate investment trust's stock worth $64,000 after purchasing an additional 185 shares during the period. Alpine Bank Wealth Management bought a new stake in Essex Property Trust during the first quarter worth approximately $82,000. Finally, Huntington National Bank boosted its position in Essex Property Trust by 85.2% during the fourth quarter. Huntington National Bank now owns 300 shares of the real estate investment trust's stock worth $86,000 after purchasing an additional 138 shares during the period. Institutional investors own 96.51% of the company's stock.

Essex Property Trust Stock Down 0.9%

Shares of ESS stock opened at $285.04 on Friday. The stock has a market cap of $18.35 billion, a P/E ratio of 27.28, a price-to-earnings-growth ratio of 6.00 and a beta of 0.78. Essex Property Trust, Inc. has a one year low of $243.85 and a one year high of $317.73. The stock has a fifty day moving average price of $281.98 and a 200 day moving average price of $286.14. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.04 and a quick ratio of 1.04.

Essex Property Trust (NYSE:ESS - Get Free Report) last released its quarterly earnings data on Tuesday, April 29th. The real estate investment trust reported $3.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.92 by $0.05. Essex Property Trust had a return on equity of 11.81% and a net margin of 37.08%. The firm had revenue of $464.58 million during the quarter, compared to analyst estimates of $458.03 million. During the same period in the prior year, the company posted $3.83 earnings per share. Analysts predict that Essex Property Trust, Inc. will post 15.96 earnings per share for the current year.

Essex Property Trust Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th will be paid a dividend of $2.57 per share. The ex-dividend date of this dividend is Monday, June 30th. This represents a $10.28 annualized dividend and a yield of 3.61%. Essex Property Trust's dividend payout ratio is currently 98.37%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. Piper Sandler reaffirmed an "overweight" rating and set a $355.00 target price (down previously from $370.00) on shares of Essex Property Trust in a research report on Friday, May 23rd. Royal Bank Of Canada reduced their price objective on Essex Property Trust from $311.00 to $309.00 and set an "outperform" rating for the company in a research report on Thursday, May 1st. Barclays increased their price objective on Essex Property Trust from $303.00 to $328.00 and gave the company an "equal weight" rating in a research report on Friday, May 9th. Truist Financial increased their price objective on Essex Property Trust from $292.00 to $304.00 and gave the company a "hold" rating in a research report on Monday, March 10th. Finally, Mizuho reduced their price objective on Essex Property Trust from $314.00 to $293.00 and set an "outperform" rating for the company in a research report on Friday, May 23rd. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, Essex Property Trust presently has a consensus rating of "Hold" and an average target price of $310.28.

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.

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