Essex Property Trust, Inc. (NYSE:ESS) Shares Bought by Vanderbilt University

Vanderbilt University boosted its position in Essex Property Trust, Inc. (NYSE:ESS - Free Report) by 61.1% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 7,326 shares of the real estate investment trust's stock after buying an additional 2,779 shares during the period. Vanderbilt University's holdings in Essex Property Trust were worth $2,246,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of ESS. Vanguard Group Inc. boosted its stake in shares of Essex Property Trust by 0.6% in the fourth 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 during the last quarter. Geode Capital Management LLC lifted its holdings in Essex Property Trust by 1.9% in the fourth quarter. Geode Capital Management LLC now owns 1,758,174 shares of the real estate investment trust's stock valued at $500,688,000 after acquiring an additional 32,102 shares during the period. Norges Bank purchased a new stake in Essex Property Trust in the 4th quarter worth approximately $471,258,000. Northern Trust Corp grew its stake in shares of Essex Property Trust by 56.0% during the 4th 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 period. Finally, Dimensional Fund Advisors LP increased its holdings in shares of Essex Property Trust by 2.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 957,038 shares of the real estate investment trust's stock valued at $273,173,000 after purchasing an additional 18,778 shares in the last quarter. Institutional investors and hedge funds own 96.51% of the company's stock.

Essex Property Trust Price Performance

Shares of NYSE ESS traded up $0.65 during mid-day trading on Friday, reaching $284.66. The company's stock had a trading volume of 607,549 shares, compared to its average volume of 419,344. The stock has a market capitalization of $18.33 billion, a P/E ratio of 27.24, a P/E/G ratio of 5.92 and a beta of 0.78. Essex Property Trust, Inc. has a 1-year low of $243.85 and a 1-year high of $317.73. The stock has a 50-day moving average of $280.82 and a two-hundred day moving average of $286.64. The company has a debt-to-equity ratio of 1.18, a quick ratio of 1.04 and a current ratio of 1.04.

Essex Property Trust (NYSE:ESS - Get Free Report) last issued its earnings results on Tuesday, April 29th. The real estate investment trust reported $3.97 earnings per share 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 business had revenue of $464.58 million for the quarter, compared to analysts' expectations of $458.03 million. During the same period in the previous year, the firm posted $3.83 EPS. On average, equities research analysts anticipate that Essex Property Trust, Inc. will post 15.96 EPS for the current fiscal year.

Essex Property Trust Dividend Announcement

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

Wall Street Analyst Weigh In

Several analysts recently commented on ESS shares. BMO Capital Markets raised their price target on shares of Essex Property Trust from $315.00 to $317.00 and gave the company an "outperform" rating in a research report on Wednesday, May 28th. Mizuho lowered their target price 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. Barclays lifted their price target on Essex Property Trust from $303.00 to $328.00 and gave the company an "equal weight" rating in a research note on Friday, May 9th. Scotiabank reaffirmed an "outperform" rating on shares of Essex Property Trust in a research note on Friday, June 13th. Finally, Royal Bank Of Canada dropped their price target on shares of Essex Property Trust from $311.00 to $309.00 and set an "outperform" rating on the stock in a research note on Thursday, May 1st. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $310.83.

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.