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

Concurrent Investment Advisors LLC raised its holdings in Essex Property Trust, Inc. (NYSE:ESS - Free Report) by 144.7% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,911 shares of the real estate investment trust's stock after acquiring 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 quarter.

A number of other institutional investors have also recently added to or reduced their stakes in ESS. Norges Bank acquired a new stake in Essex Property Trust in the fourth quarter valued at approximately $471,258,000. Wealthquest Corp acquired a new stake in Essex Property Trust in the first quarter valued at approximately $384,606,000. GAMMA Investing LLC raised its position in shares of Essex Property Trust by 35,500.1% in the first quarter. GAMMA Investing LLC now owns 448,205 shares of the real estate investment trust's stock valued at $137,406,000 after purchasing an additional 446,946 shares during the period. Northern Trust Corp raised its position in shares of Essex Property Trust by 56.0% in the fourth 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 period. Finally, Balyasny Asset Management L.P. raised its position in shares of Essex Property Trust by 64.0% in the fourth quarter. Balyasny Asset Management L.P. now owns 570,786 shares of the real estate investment trust's stock valued at $162,925,000 after purchasing an additional 222,713 shares during the period. 96.51% of the stock is currently owned by institutional investors and hedge funds.

Essex Property Trust Stock Down 0.2%

Shares of NYSE ESS opened at $285.33 on Thursday. The firm's 50-day simple moving average is $283.29 and its 200 day simple moving average is $285.69. The company has a market cap of $18.37 billion, a price-to-earnings ratio of 27.30, a price-to-earnings-growth ratio of 5.96 and a beta of 0.78. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 1.18. Essex Property Trust, Inc. has a 12-month low of $243.85 and a 12-month high of $317.73.

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

Essex Property Trust Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th will be paid a $2.57 dividend. The ex-dividend date is Monday, June 30th. This represents a $10.28 dividend on an annualized basis and a dividend yield of 3.60%. Essex Property Trust's dividend payout ratio (DPR) is presently 98.37%.

Analyst Ratings Changes

ESS has been the topic of a number of recent analyst reports. Raymond James Financial raised shares of Essex Property Trust from a "market perform" rating to an "outperform" rating and set a $315.00 price target on the stock in a research report on Tuesday, June 24th. Scotiabank reissued an "outperform" rating on shares of Essex Property Trust in a research report on Friday, June 13th. Piper Sandler reissued an "overweight" rating and issued a $355.00 price target (down previously from $370.00) on shares of Essex Property Trust in a research report on Friday, May 23rd. Royal Bank Of Canada dropped their price target on shares of Essex Property Trust from $311.00 to $309.00 and set an "outperform" rating on the stock in a research report on Thursday, May 1st. Finally, Mizuho dropped their price target on shares of Essex Property Trust from $314.00 to $293.00 and set an "outperform" rating on the stock in a research report on Friday, May 23rd. Two analysts have rated the stock with a sell rating, ten have given a hold rating and eight have issued a buy rating to the company's stock. According to MarketBeat, Essex Property Trust has a consensus rating of "Hold" and an average price target 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.

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