Vert Asset Management LLC grew its stake in Essex Property Trust, Inc. (NYSE:ESS - Free Report) by 5.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 29,940 shares of the real estate investment trust's stock after buying an additional 1,573 shares during the period. Essex Property Trust accounts for 3.2% of Vert Asset Management LLC's holdings, making the stock its 12th biggest position. Vert Asset Management LLC's holdings in Essex Property Trust were worth $9,179,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds have also made changes to their positions in ESS. Kestra Investment Management LLC acquired a new stake in Essex Property Trust during the 4th quarter worth about $25,000. Newbridge Financial Services Group Inc. purchased a new position in shares of Essex Property Trust in the fourth quarter worth about $45,000. Ameriflex Group Inc. acquired a new stake in shares of Essex Property Trust during the fourth quarter worth about $59,000. Assetmark Inc. boosted its position in Essex Property Trust by 124.0% in the fourth quarter. Assetmark Inc. now owns 224 shares of the real estate investment trust's stock valued at $64,000 after buying an additional 124 shares during the last quarter. Finally, Jones Financial Companies Lllp boosted its position in Essex Property Trust by 486.8% in the fourth quarter. Jones Financial Companies Lllp now owns 223 shares of the real estate investment trust's stock valued at $64,000 after buying an additional 185 shares during the last quarter. 96.51% of the stock is currently owned by institutional investors and hedge funds.
Essex Property Trust Price Performance
Shares of ESS stock traded up $3.31 on Thursday, reaching $289.50. 574,916 shares of the company were exchanged, compared to its average volume of 419,156. Essex Property Trust, Inc. has a 1 year low of $243.85 and a 1 year high of $317.73. The company has a debt-to-equity ratio of 1.15, a quick ratio of 1.14 and a current ratio of 1.14. The business has a 50-day moving average price of $277.81 and a 200 day moving average price of $287.79. The company has a market cap of $18.64 billion, a price-to-earnings ratio of 25.09, a P/E/G ratio of 6.84 and a beta of 0.78.
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 EPS for the quarter, beating analysts' consensus estimates of $3.92 by $0.05. The business had revenue of $464.58 million during the quarter, compared to analysts' expectations of $458.03 million. Essex Property Trust had a return on equity of 13.05% and a net margin of 41.79%. During the same quarter in the prior year, the firm earned $3.83 earnings per share. Equities 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 disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th will be issued a $2.57 dividend. The ex-dividend date of this dividend is Monday, June 30th. This represents a $10.28 dividend on an annualized basis and a yield of 3.55%. Essex Property Trust's payout ratio is currently 98.37%.
Analyst Ratings Changes
Several equities research analysts have commented on the stock. Truist Financial upped their price target on shares of Essex Property Trust from $292.00 to $304.00 and gave the company a "hold" rating in a report on Monday, March 10th. Barclays upped their target price 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. Mizuho reduced their price target on Essex Property Trust from $314.00 to $293.00 and set an "outperform" rating for the company in a research report on Friday, May 23rd. Piper Sandler reissued an "overweight" rating and issued a $355.00 price target (down from $370.00) on shares of Essex Property Trust in a report on Friday, May 23rd. Finally, BMO Capital Markets raised 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 note on Wednesday, May 28th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and seven have given a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $312.17.
Read Our Latest Report on ESS
About Essex Property Trust
(
Free Report)
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.
Further Reading
Before you consider Essex Property Trust, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Essex Property Trust wasn't on the list.
While Essex Property Trust currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Which stocks are likely to thrive in today's challenging market? Enter your email address and we'll send you MarketBeat's list of ten stocks that will drive in any economic environment.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
