Concurrent Investment Advisors LLC Has $586,000 Stake in Essex Property Trust, Inc. (NYSE:ESS)

Concurrent Investment Advisors LLC lifted its position in Essex Property Trust, Inc. (NYSE:ESS - Free Report) by 144.7% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 1,911 shares of the real estate investment trust's stock after purchasing an additional 1,130 shares during the quarter. Concurrent Investment Advisors LLC's holdings in Essex Property Trust were worth $586,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. grew its stake in Essex Property Trust by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 10,353,157 shares of the real estate investment trust's stock worth $2,955,205,000 after buying an additional 61,645 shares during the last quarter. Geode Capital Management LLC grew its position in Essex Property Trust by 1.9% during the 4th quarter. Geode Capital Management LLC now owns 1,758,174 shares of the real estate investment trust's stock worth $500,688,000 after acquiring an additional 32,102 shares during the last quarter. Norges Bank bought a new stake in Essex Property Trust during the 4th quarter worth approximately $471,258,000. Wealthquest Corp acquired a new stake in Essex Property Trust during the 1st quarter valued at $384,606,000. Finally, Northern Trust Corp raised its position in Essex Property Trust by 56.0% in the 4th quarter. Northern Trust Corp now owns 1,127,830 shares of the real estate investment trust's stock valued at $321,928,000 after purchasing an additional 404,892 shares during the last quarter. Institutional investors and hedge funds own 96.51% of the company's stock.

Essex Property Trust Stock Up 0.8%

Essex Property Trust stock traded up $2.25 during midday trading on Thursday, reaching $287.03. The stock had a trading volume of 374,539 shares, compared to its average volume of 423,998. The stock has a market capitalization of $18.48 billion, a P/E ratio of 27.47, a price-to-earnings-growth ratio of 5.96 and a beta of 0.78. The firm's fifty day simple moving average is $283.29 and its 200-day simple moving average is $285.69. The company has a debt-to-equity ratio of 1.18, a quick ratio of 1.04 and a current ratio of 1.04. Essex Property Trust, Inc. has a 1-year low of $243.85 and a 1-year high of $317.73.

Essex Property Trust (NYSE:ESS - Get Free Report) last announced its earnings results on Tuesday, April 29th. The real estate investment trust reported $3.97 EPS for the quarter, topping the consensus estimate of $3.92 by $0.05. Essex Property Trust had a net margin of 37.08% and a return on equity of 11.81%. The business had revenue of $464.58 million during the quarter, compared to analysts' expectations of $458.03 million. During the same quarter in the prior year, the company posted $3.83 earnings per share. As a group, analysts expect that Essex Property Trust, Inc. will post 15.96 EPS for the current fiscal year.

Essex Property Trust Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 30th will be given a $2.57 dividend. This represents a $10.28 dividend on an annualized basis and a dividend yield of 3.58%. The ex-dividend date is Monday, June 30th. Essex Property Trust's dividend payout ratio is currently 98.37%.

Analysts Set New Price Targets

ESS has been the topic of a number of research analyst reports. Royal Bank Of Canada decreased their price objective on shares of Essex Property Trust from $311.00 to $309.00 and set an "outperform" rating on the stock in a report on Thursday, May 1st. BMO Capital Markets increased their price target on shares of Essex Property Trust from $315.00 to $317.00 and gave the company an "outperform" rating in a research note on Wednesday, May 28th. Mizuho dropped their price objective on shares of 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. Scotiabank reaffirmed an "outperform" rating on shares of Essex Property Trust in a report on Friday, June 13th. Finally, Raymond James Financial raised Essex Property Trust from a "market perform" rating to an "outperform" rating and set a $315.00 target price for the company in a research note on Tuesday, June 24th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $310.28.

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.