Universal Beteiligungs und Servicegesellschaft mbH Buys 70,275 Shares of Essex Property Trust, Inc. (NYSE:ESS)

Universal Beteiligungs und Servicegesellschaft mbH grew its stake in Essex Property Trust, Inc. (NYSE:ESS - Free Report) by 59.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 189,362 shares of the real estate investment trust's stock after buying an additional 70,275 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH owned approximately 0.29% of Essex Property Trust worth $58,053,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Vanguard Group Inc. grew its stake in Essex Property Trust by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 10,353,157 shares of the real estate investment trust's stock worth $2,955,205,000 after buying an additional 61,645 shares in the last quarter. Geode Capital Management LLC lifted its stake in Essex Property Trust by 1.9% during the fourth quarter. Geode Capital Management LLC now owns 1,758,174 shares of the real estate investment trust's stock worth $500,688,000 after purchasing an additional 32,102 shares during the last quarter. Norges Bank bought a new stake in Essex Property Trust during the fourth quarter worth about $471,258,000. Wealthquest Corp bought a new stake in Essex Property Trust during the first quarter worth about $384,606,000. Finally, Northern Trust Corp lifted its stake in Essex Property Trust by 56.0% during the fourth quarter. Northern Trust Corp now owns 1,127,830 shares of the real estate investment trust's stock worth $321,928,000 after purchasing an additional 404,892 shares during the last quarter. Hedge funds and other institutional investors own 96.51% of the company's stock.

Essex Property Trust Trading Down 0.1%

ESS traded down $0.26 during midday trading on Friday, reaching $287.15. 310,194 shares of the company's stock traded hands, compared to its average volume of 381,874. The firm has a fifty day moving average of $283.79 and a two-hundred day moving average of $286.16. The stock has a market capitalization of $18.49 billion, a price-to-earnings ratio of 27.48, a P/E/G ratio of 5.98 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 52 week low of $243.85 and a 52 week high of $317.73.

Essex Property Trust (NYSE:ESS - Get Free Report) last announced its earnings results on Tuesday, April 29th. The real estate investment trust reported $3.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.92 by $0.05. Essex Property Trust had a return on equity of 11.81% and a net margin of 37.08%. The firm had revenue of $464.58 million during the quarter, compared to analyst estimates of $458.03 million. During the same quarter in the prior year, the company earned $3.83 EPS. On average, equities analysts anticipate that Essex Property Trust, Inc. will post 15.96 earnings per share for the current fiscal year.

Essex Property Trust Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Monday, June 30th were paid a dividend of $2.57 per share. This represents a $10.28 annualized dividend and a yield of 3.58%. The ex-dividend date of this dividend was Monday, June 30th. Essex Property Trust's payout ratio is currently 98.37%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on ESS. 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 target (down previously from $370.00) on shares of Essex Property Trust in a research note on Friday, May 23rd. Wall Street Zen lowered Essex Property Trust from a "hold" rating to a "sell" rating in a research note on Saturday, July 5th. Barclays lifted their price target on Essex Property Trust from $303.00 to $328.00 and gave the stock an "equal weight" rating in a research note on Friday, May 9th. Finally, UBS Group reduced their price objective on Essex Property Trust from $297.00 to $295.00 and set a "neutral" rating on the stock in a research note on Tuesday, July 15th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, Essex Property Trust presently has an average rating of "Hold" and an average target price of $310.94.

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.