Invesco Ltd. Has $222.95 Million Position in Essex Property Trust, Inc. $ESS

Invesco Ltd. reduced its holdings in Essex Property Trust, Inc. (NYSE:ESS - Free Report) by 0.8% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 727,235 shares of the real estate investment trust's stock after selling 5,969 shares during the quarter. Invesco Ltd. owned 1.13% of Essex Property Trust worth $222,949,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of ESS. Zions Bancorporation National Association UT bought a new stake in shares of Essex Property Trust in the first quarter worth about $34,000. Ameriflex Group Inc. acquired a new position in shares of Essex Property Trust during the fourth quarter worth about $59,000. Alpine Bank Wealth Management acquired a new position in shares of Essex Property Trust during the first quarter worth about $82,000. CoreCap Advisors LLC boosted its position in shares of Essex Property Trust by 17.7% during the fourth quarter. CoreCap Advisors LLC now owns 365 shares of the real estate investment trust's stock worth $104,000 after buying an additional 55 shares during the period. Finally, Harvest Fund Management Co. Ltd acquired a new position in shares of Essex Property Trust during the first quarter worth about $112,000. 96.51% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on ESS. Raymond James Financial raised Essex Property Trust from a "market perform" rating to an "outperform" rating and set a $315.00 price objective for the company in a research report on Tuesday, June 24th. Scotiabank reduced their price objective on Essex Property Trust from $320.00 to $309.00 and set a "sector outperform" rating for the company in a research report on Tuesday, August 5th. Truist Financial reduced their price objective on Essex Property Trust from $295.00 to $283.00 and set a "hold" rating for the company in a research report on Tuesday, August 12th. Mizuho reduced their price objective on 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. Finally, Barclays reduced their price objective on Essex Property Trust from $335.00 to $298.00 and set an "equal weight" rating for the company in a research report on Tuesday, August 12th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, Essex Property Trust has an average rating of "Hold" and an average price target of $302.86.

Essex Property Trust Stock Performance

NYSE:ESS traded down $1.18 on Monday, hitting $258.20. The company's stock had a trading volume of 62,272 shares, compared to its average volume of 489,158. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 1.16. The stock has a fifty day moving average of $278.38 and a two-hundred day moving average of $284.18. The firm has a market capitalization of $16.63 billion, a P/E ratio of 20.75, a price-to-earnings-growth ratio of 6.67 and a beta of 0.80. Essex Property Trust, Inc. has a one year low of $243.85 and a one year high of $317.73.

Essex Property Trust (NYSE:ESS - Get Free Report) last announced its earnings results on Tuesday, July 29th. The real estate investment trust reported $4.03 earnings per share for the quarter, topping analysts' consensus estimates of $3.99 by $0.04. The company had revenue of $465.84 million for the quarter, compared to analyst estimates of $466.47 million. Essex Property Trust had a return on equity of 13.98% and a net margin of 43.51%. During the same quarter last year, the company earned $3.94 earnings per share. Research analysts predict that Essex Property Trust, Inc. will post 15.96 earnings per share for the current year.

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.