Simon Quick Advisors LLC Takes Position in Essex Property Trust, Inc. (NYSE:ESS)

Simon Quick Advisors LLC purchased a new position in shares of Essex Property Trust, Inc. (NYSE:ESS - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 942 shares of the real estate investment trust's stock, valued at approximately $289,000.

Several other institutional investors have also modified their holdings of the company. Empowered Funds LLC grew its position in Essex Property Trust by 3.3% in the 4th quarter. Empowered Funds LLC now owns 1,195 shares of the real estate investment trust's stock valued at $338,000 after buying an additional 38 shares in the last quarter. DoubleLine ETF Adviser LP increased its stake in Essex Property Trust by 0.8% during the 4th quarter. DoubleLine ETF Adviser LP now owns 4,624 shares of the real estate investment trust's stock valued at $1,320,000 after buying an additional 38 shares during the period. Gen Wealth Partners Inc increased its stake in Essex Property Trust by 2.4% during the 4th quarter. Gen Wealth Partners Inc now owns 1,952 shares of the real estate investment trust's stock valued at $557,000 after buying an additional 45 shares during the period. US Bancorp DE increased its stake in Essex Property Trust by 1.2% during the 4th quarter. US Bancorp DE now owns 4,126 shares of the real estate investment trust's stock valued at $1,178,000 after buying an additional 49 shares during the period. Finally, CoreCap Advisors LLC increased its stake in Essex Property Trust by 17.7% during the 4th quarter. CoreCap Advisors LLC now owns 365 shares of the real estate investment trust's stock valued at $104,000 after buying an additional 55 shares during the period. Institutional investors own 96.51% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on ESS shares. Scotiabank lowered their price objective on shares of Essex Property Trust from $344.00 to $320.00 and set a "sector outperform" rating on the stock in a research note on Friday. Truist Financial lifted their price objective on shares of Essex Property Trust from $292.00 to $304.00 and gave the stock a "hold" rating in a research note on Monday, March 10th. BMO Capital Markets lifted their target price 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. Royal Bank of Canada dropped 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. Finally, Barclays lifted their target price on shares of Essex Property Trust from $303.00 to $328.00 and gave the stock an "equal weight" rating in a research report on Friday, May 9th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and seven have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $310.83.

Essex Property Trust Stock Down 2.1%

NYSE ESS traded down $6.14 during trading on Friday, reaching $283.61. The company's stock had a trading volume of 438,329 shares, compared to its average volume of 419,706. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 1.15. The stock has a market capitalization of $18.26 billion, a PE ratio of 24.58, a PEG ratio of 6.84 and a beta of 0.78. The business has a 50-day moving average price of $278.93 and a 200-day moving average price of $287.30. Essex Property Trust, Inc. has a 1-year low of $243.85 and a 1-year high of $317.73.

Essex Property Trust (NYSE:ESS - Get Free Report) last posted its earnings results on Tuesday, April 29th. The real estate investment trust reported $3.97 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.92 by $0.05. The firm had revenue of $464.58 million during the quarter, compared to analysts' expectations of $458.03 million. Essex Property Trust had a net margin of 41.79% and a return on equity of 13.05%. During the same period in the previous year, the company earned $3.83 earnings per share. On average, research analysts forecast that Essex Property Trust, Inc. will post 15.96 earnings per share for the current fiscal year.

Essex Property Trust Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th will be given a $2.57 dividend. This represents a $10.28 dividend on an annualized basis and a dividend yield of 3.62%. The ex-dividend date of this dividend is Monday, June 30th. Essex Property Trust's dividend payout ratio is 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.