Essex Property Trust, Inc. (NYSE:ESS) Shares Sold by Envestnet Portfolio Solutions Inc.

Envestnet Portfolio Solutions Inc. decreased its position in Essex Property Trust, Inc. (NYSE:ESS - Free Report) by 88.1% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 1,613 shares of the real estate investment trust's stock after selling 11,916 shares during the period. Envestnet Portfolio Solutions Inc.'s holdings in Essex Property Trust were worth $495,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Ameriflex Group Inc. acquired a new stake in shares of Essex Property Trust during the fourth quarter valued at $59,000. Assetmark Inc. boosted its stake in shares of Essex Property Trust by 124.0% during the fourth quarter. Assetmark Inc. now owns 224 shares of the real estate investment trust's stock valued at $64,000 after acquiring an additional 124 shares during the last quarter. Jones Financial Companies Lllp boosted its stake in shares of 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 valued at $64,000 after acquiring an additional 185 shares during the last quarter. Huntington National Bank boosted its stake in shares of 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 valued at $86,000 after acquiring an additional 138 shares during the last quarter. Finally, Smartleaf Asset Management LLC boosted its stake in shares of Essex Property Trust by 46.1% during the fourth quarter. Smartleaf Asset Management LLC now owns 317 shares of the real estate investment trust's stock valued at $90,000 after acquiring an additional 100 shares during the last quarter. Institutional investors and hedge funds own 96.51% of the company's stock.

Analyst Ratings Changes

ESS has been the topic of a number of analyst reports. Scotiabank reaffirmed an "outperform" rating on shares of Essex Property Trust in a research note on Friday, June 13th. Piper Sandler reaffirmed an "overweight" rating and set a $355.00 price objective (down previously from $370.00) on shares of Essex Property Trust in a research note on Friday, May 23rd. Raymond James Financial raised Essex Property Trust from a "market perform" rating to an "outperform" rating and set a $315.00 price objective on the stock in a research note on Tuesday. BMO Capital Markets increased their price objective on Essex Property Trust from $315.00 to $317.00 and gave the company an "outperform" rating in a research note on Wednesday, May 28th. Finally, Mizuho decreased their price objective on Essex Property Trust from $314.00 to $293.00 and set an "outperform" rating on the stock in a research note 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. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $310.28.

Essex Property Trust Stock Performance

Essex Property Trust stock opened at $285.04 on Friday. The stock's 50-day moving average is $281.98 and its 200-day moving average is $286.14. The company has a market cap of $18.35 billion, a price-to-earnings ratio of 27.28, a price-to-earnings-growth ratio of 6.00 and a beta of 0.78. 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, 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 released its quarterly earnings data on Tuesday, April 29th. The real estate investment trust reported $3.97 EPS for the quarter, topping analysts' consensus estimates of $3.92 by $0.05. The company had revenue of $464.58 million for the quarter, compared to the consensus estimate 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 last year, the business posted $3.83 EPS. Equities analysts anticipate 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 announced a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 30th will be issued 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 dividend yield of 3.61%. Essex Property Trust's payout ratio is currently 98.37%.

Essex Property Trust 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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