Kingswood Wealth Advisors LLC Has $3.36 Million Stock Position in Essex Property Trust, Inc. (NYSE:ESS)

Kingswood Wealth Advisors LLC decreased its position in shares of Essex Property Trust, Inc. (NYSE:ESS - Free Report) by 12.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,967 shares of the real estate investment trust's stock after selling 1,502 shares during the period. Kingswood Wealth Advisors LLC's holdings in Essex Property Trust were worth $3,362,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also made changes to their positions in the company. Norges Bank acquired a new stake in shares of Essex Property Trust in the 4th quarter valued at $471,258,000. GAMMA Investing LLC boosted its stake in 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 buying an additional 446,946 shares in the last quarter. Northern Trust Corp boosted its stake in 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 buying an additional 404,892 shares in the last quarter. Balyasny Asset Management L.P. boosted its stake in 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 buying an additional 222,713 shares in the last quarter. Finally, Schroder Investment Management Group boosted its stake in Essex Property Trust by 1,620.1% in the fourth quarter. Schroder Investment Management Group now owns 197,436 shares of the real estate investment trust's stock valued at $55,835,000 after buying an additional 185,958 shares in the last quarter. Institutional investors and hedge funds own 96.51% of the company's stock.

Wall Street Analyst Weigh In

ESS has been the topic of a number of research analyst reports. Mizuho reduced 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 note on Friday, May 23rd. Royal Bank Of Canada cut their target price 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. Piper Sandler restated an "overweight" rating and issued a $355.00 target price (down previously from $370.00) on shares of Essex Property Trust in a research report on Friday, May 23rd. Truist Financial raised their price objective on Essex Property Trust from $292.00 to $304.00 and gave the company a "hold" rating in a report on Monday, March 10th. Finally, Scotiabank reissued an "outperform" rating on shares of Essex Property Trust in a report on Friday, June 13th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and seven have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $310.83.

Essex Property Trust Trading Up 0.2%

Shares of NYSE ESS traded up $0.65 during midday trading on Friday, reaching $284.66. The stock had a trading volume of 607,549 shares, compared to its average volume of 417,369. The firm has a market cap of $18.33 billion, a price-to-earnings ratio of 27.24, a price-to-earnings-growth ratio of 5.93 and a beta of 0.78. 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 1.18, a quick ratio of 1.04 and a current ratio of 1.04. The company's 50 day moving average price is $280.82 and its 200 day moving average price is $286.54.

Essex Property Trust (NYSE:ESS - Get Free Report) last released its earnings results on Tuesday, April 29th. The real estate investment trust reported $3.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.92 by $0.05. The business had revenue of $464.58 million for the quarter, compared to analyst estimates 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 quarter in the previous year, the business earned $3.83 earnings per share. As a group, sell-side analysts expect that Essex Property Trust, Inc. will post 15.96 EPS for the current year.

Essex Property Trust Dividend Announcement

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 given a dividend of $2.57 per share. The ex-dividend date is Monday, June 30th. This represents a $10.28 dividend on an annualized basis and a dividend yield of 3.61%. Essex Property Trust's payout ratio is presently 98.37%.

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.