Natixis Advisors LLC Acquires 1,762 Shares of Essex Property Trust, Inc. (NYSE:ESS)

Key Points

• Natixis Advisors LLC increased its holdings in Essex Property Trust by 8.9%, acquiring an additional 1,762 shares, bringing their total to 21,549 shares valued at $6,606,000.
• Essex Property Trust recently declared a quarterly dividend of $2.57, translating to an annualized dividend of $10.28 and a yield of 4.0%.
• Multiple analysts have adjusted their price targets for Essex Property Trust, with Piper Sandler lowering it from $355.00 to $275.00, while BMO Capital Markets raised it to $317.00 and maintained an "outperform" rating.

Natixis Advisors LLC lifted its holdings in shares of Essex Property Trust, Inc. (NYSE:ESS - Free Report) by 8.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 21,549 shares of the real estate investment trust's stock after acquiring an additional 1,762 shares during the period. Natixis Advisors LLC's holdings in Essex Property Trust were worth $6,606,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in ESS. Ameriflex Group Inc. bought a new stake in Essex Property Trust in the 4th quarter worth about $59,000. Alpine Bank Wealth Management bought a new stake in Essex Property Trust in the 1st quarter worth about $82,000. Huntington National Bank grew its position in Essex Property Trust by 85.2% in the 4th quarter. Huntington National Bank now owns 300 shares of the real estate investment trust's stock worth $86,000 after purchasing an additional 138 shares in the last quarter. CoreCap Advisors LLC grew its position in Essex Property Trust by 17.7% in the 4th quarter. CoreCap Advisors LLC now owns 365 shares of the real estate investment trust's stock worth $104,000 after purchasing an additional 55 shares in the last quarter. Finally, Harvest Fund Management Co. Ltd bought a new stake in Essex Property Trust in the 1st quarter worth about $112,000. 96.51% of the stock is owned by institutional investors.

Essex Property Trust Stock Performance

Shares of ESS stock opened at $254.72 on Tuesday. The stock has a market capitalization of $16.40 billion, a P/E ratio of 20.48, a PEG ratio of 5.36 and a beta of 0.80. 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 firm's 50 day moving average is $282.79 and its 200 day moving average is $285.72. 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 announced its quarterly earnings results on Tuesday, July 29th. The real estate investment trust reported $4.03 EPS for the quarter, beating 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 company had revenue of $465.84 million for the quarter, compared to analysts' expectations of $466.47 million. During the same period in the prior year, the company posted $3.94 EPS. On average, sell-side analysts anticipate that Essex Property Trust, Inc. will post 15.96 earnings per share for the current year.

Essex Property Trust Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th were issued a $2.57 dividend. This represents a $10.28 annualized dividend and a yield of 4.0%. The ex-dividend date of this dividend was Monday, June 30th. Essex Property Trust's dividend payout ratio (DPR) is presently 82.64%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on ESS shares. Piper Sandler downgraded shares of Essex Property Trust from an "overweight" rating to a "neutral" rating and reduced their price objective for the stock from $355.00 to $275.00 in a research report on Monday. BMO Capital Markets upped their price objective on shares of Essex Property Trust from $315.00 to $317.00 and gave the stock an "outperform" rating in a research report on Wednesday, May 28th. UBS Group reduced their price objective on shares of Essex Property Trust from $297.00 to $295.00 and set a "neutral" rating for the company in a research report on Tuesday, July 15th. Raymond James Financial raised shares of Essex Property Trust from a "market perform" rating to an "outperform" rating and set a $315.00 target price for the company in a research report on Tuesday, June 24th. Finally, Stifel Nicolaus increased their target price on shares of Essex Property Trust from $301.50 to $305.50 and gave the company a "hold" rating in a research report on Wednesday, July 30th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $308.47.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.