Asset Management One Co. Ltd. Buys 1,569 Shares of Essex Property Trust, Inc. (NYSE:ESS)

Asset Management One Co. Ltd. increased its position in Essex Property Trust, Inc. (NYSE:ESS - Free Report) by 1.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 133,886 shares of the real estate investment trust's stock after acquiring an additional 1,569 shares during the quarter. Asset Management One Co. Ltd. owned about 0.21% of Essex Property Trust worth $41,045,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of ESS. Assetmark Inc. increased its holdings in shares of Essex Property Trust by 124.0% during the 4th 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. QRG Capital Management Inc. bought a new position in shares of Essex Property Trust during the 1st quarter worth about $653,000. CWA Asset Management Group LLC increased its holdings in shares of Essex Property Trust by 10.0% during the 1st quarter. CWA Asset Management Group LLC now owns 883 shares of the real estate investment trust's stock worth $271,000 after purchasing an additional 80 shares during the period. Raymond James Financial Inc. bought a new position in shares of Essex Property Trust during the 4th quarter worth about $7,027,000. Finally, Intact Investment Management Inc. bought a new position in shares of Essex Property Trust during the 1st quarter worth about $705,000. Institutional investors own 96.51% of the company's stock.

Essex Property Trust Trading Down 0.9%

Shares of ESS traded down $2.68 on Friday, reaching $285.04. 579,734 shares of the company's stock were exchanged, compared to its average volume of 420,173. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 1.18. The stock has a market capitalization of $18.35 billion, a P/E ratio of 27.28, a price-to-earnings-growth ratio of 5.95 and a beta of 0.78. The business has a 50 day moving average price of $281.98 and a two-hundred day moving average price of $286.06. 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 posted its quarterly earnings results on Tuesday, April 29th. The real estate investment trust reported $3.97 earnings per share for the quarter, topping analysts' consensus estimates of $3.92 by $0.05. The business had revenue of $464.58 million during the quarter, compared to the consensus estimate of $458.03 million. Essex Property Trust had a net margin of 37.08% and a return on equity of 11.81%. During the same period in the previous year, the firm posted $3.83 earnings per share. Research analysts anticipate that Essex Property Trust, Inc. will post 15.96 earnings per share for the current year.

Essex Property Trust Dividend Announcement

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

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Wall Street Zen lowered shares of Essex Property Trust from a "hold" rating to a "sell" rating in a research report on Friday. BMO Capital Markets lifted their target price on shares of Essex Property Trust from $315.00 to $317.00 and gave the company an "outperform" rating in a research report on Wednesday, May 28th. Scotiabank reiterated an "outperform" rating on shares of Essex Property Trust in a research report on Friday, June 13th. Mizuho decreased their target price 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. Finally, Piper Sandler reiterated an "overweight" rating and set a $355.00 target price (down from $370.00) on shares of Essex Property Trust in a research report on Friday, May 23rd. Two 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's stock. According to data from MarketBeat.com, Essex Property Trust presently has an average 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.