Entropy Technologies LP Has $1.15 Million Position in Essex Property Trust, Inc. (NYSE:ESS)

Key Points

• Entropy Technologies LP reduced its stake in Essex Property Trust by 61.4%, selling 5,945 shares and now holding 3,741 shares, valued at approximately $1.15 million.
• Institutional investors own 96.51% of Essex Property Trust, with recent modifications in holdings from several hedge funds including new purchases and increased stakes.
• Essex Property Trust reported an earnings per share (EPS) of $4.03, exceeding estimates, and declared a quarterly dividend of $2.57 with an annual yield of 4.1%.

Entropy Technologies LP lowered its holdings in Essex Property Trust, Inc. (NYSE:ESS - Free Report) by 61.4% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,741 shares of the real estate investment trust's stock after selling 5,945 shares during the period. Entropy Technologies LP's holdings in Essex Property Trust were worth $1,147,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the business. DoubleLine ETF Adviser LP increased its stake in shares of Essex Property Trust by 0.8% during the fourth quarter. DoubleLine ETF Adviser LP now owns 4,624 shares of the real estate investment trust's stock valued at $1,320,000 after acquiring an additional 38 shares during the period. Stephens Inc. AR increased its stake in shares of Essex Property Trust by 4.6% during the first quarter. Stephens Inc. AR now owns 985 shares of the real estate investment trust's stock valued at $302,000 after acquiring an additional 43 shares during the period. Gen Wealth Partners Inc increased its stake in shares of Essex Property Trust by 2.4% during the fourth quarter. Gen Wealth Partners Inc now owns 1,952 shares of the real estate investment trust's stock valued at $557,000 after acquiring an additional 45 shares during the period. Sequoia Financial Advisors LLC increased its stake in shares of Essex Property Trust by 6.3% during the first quarter. Sequoia Financial Advisors LLC now owns 778 shares of the real estate investment trust's stock valued at $239,000 after acquiring an additional 46 shares during the period. Finally, GF Fund Management CO. LTD. increased its stake in shares of Essex Property Trust by 4.3% during the first quarter. GF Fund Management CO. LTD. now owns 1,217 shares of the real estate investment trust's stock valued at $373,000 after acquiring an additional 50 shares during the period. Institutional investors own 96.51% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on ESS. Truist Financial lowered their price objective on shares of Essex Property Trust from $295.00 to $283.00 and set a "hold" rating on the stock in a research note on Tuesday. Mizuho decreased 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. Stifel Nicolaus lifted their price target on shares of Essex Property Trust from $301.50 to $305.50 and gave the stock a "hold" rating in a research report on Wednesday, July 30th. Barclays decreased their price target on shares of Essex Property Trust from $335.00 to $298.00 and set an "equal weight" rating on the stock in a research report on Tuesday. Finally, Raymond James Financial upgraded 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. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and seven have issued a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $302.86.

Essex Property Trust Trading Up 1.8%

Essex Property Trust stock traded up $4.63 during midday trading on Wednesday, reaching $258.62. The stock had a trading volume of 382,531 shares, compared to its average volume of 628,276. The firm's fifty day simple moving average is $279.21 and its two-hundred day simple moving average is $284.44. Essex Property Trust, Inc. has a twelve month low of $243.85 and a twelve month high of $317.73. The company has a debt-to-equity ratio of 1.16, a current ratio of 1.09 and a quick ratio of 1.09. The firm has a market cap of $16.66 billion, a price-to-earnings ratio of 20.79, a PEG ratio of 6.53 and a beta of 0.80.

Essex Property Trust (NYSE:ESS - Get Free Report) last posted its quarterly earnings data on Tuesday, July 29th. The real estate investment trust reported $4.03 EPS for the quarter, topping analysts' consensus estimates of $3.99 by $0.04. Essex Property Trust had a net margin of 43.51% and a return on equity of 13.98%. The firm had revenue of $465.84 million during the quarter, compared to analyst estimates of $466.47 million. During the same quarter last year, the business posted $3.94 EPS. Equities analysts anticipate 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 was paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th were paid a dividend of $2.57 per share. The ex-dividend date of this dividend was Monday, June 30th. This represents a $10.28 dividend on an annualized basis and a dividend yield of 4.0%. Essex Property Trust's dividend payout ratio (DPR) is 82.64%.

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.