Thrivent Financial For Lutherans raised its stake in shares of Essex Property Trust Inc (NYSE:ESS) by 3.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 35,936 shares of the real estate investment trust’s stock after purchasing an additional 1,353 shares during the period. Thrivent Financial For Lutherans owned 0.05% of Essex Property Trust worth $8,674,000 as of its most recent SEC filing.
A number of other hedge funds also recently made changes to their positions in ESS. First Trust Advisors LP grew its holdings in Essex Property Trust by 55.2% during the third quarter. First Trust Advisors LP now owns 29,664 shares of the real estate investment trust’s stock valued at $7,536,000 after purchasing an additional 10,546 shares during the last quarter. Global X MANAGEMENT CO LLC grew its holdings in Essex Property Trust by 18.1% during the third quarter. Global X MANAGEMENT CO LLC now owns 2,183 shares of the real estate investment trust’s stock valued at $555,000 after purchasing an additional 334 shares during the last quarter. Retirement Systems of Alabama grew its holdings in Essex Property Trust by 0.7% during the third quarter. Retirement Systems of Alabama now owns 32,014 shares of the real estate investment trust’s stock valued at $8,133,000 after purchasing an additional 208 shares during the last quarter. New York State Common Retirement Fund grew its holdings in Essex Property Trust by 1.7% during the third quarter. New York State Common Retirement Fund now owns 146,200 shares of the real estate investment trust’s stock valued at $37,139,000 after purchasing an additional 2,400 shares during the last quarter. Finally, Toronto Dominion Bank grew its holdings in Essex Property Trust by 12.6% during the third quarter. Toronto Dominion Bank now owns 25,015 shares of the real estate investment trust’s stock valued at $6,354,000 after purchasing an additional 2,794 shares during the last quarter. Institutional investors own 97.24% of the company’s stock.
Several brokerages have commented on ESS. BTIG Research upgraded Essex Property Trust from a “neutral” rating to a “buy” rating and set a $273.00 price target on the stock in a report on Wednesday, December 13th. Citigroup upgraded Essex Property Trust from a “neutral” rating to a “buy” rating and set a $280.00 price target on the stock in a report on Thursday, December 14th. BMO Capital Markets reiterated a “hold” rating and set a $257.00 price target on shares of Essex Property Trust in a report on Monday, November 27th. Evercore ISI upgraded shares of Essex Property Trust from an “in-line” rating to an “outperform” rating and set a $274.00 price objective on the stock in a research note on Monday, December 11th. Finally, JMP Securities restated a “hold” rating on shares of Essex Property Trust in a research note on Wednesday, December 27th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $264.35.
Shares of Essex Property Trust Inc (ESS) opened at $238.05 on Wednesday. Essex Property Trust Inc has a 52 week low of $214.03 and a 52 week high of $270.04. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.27 and a quick ratio of 1.27. The stock has a market cap of $15,766.46, a price-to-earnings ratio of 20.06, a PEG ratio of 3.25 and a beta of 0.45.
Essex Property Trust (NYSE:ESS) last posted its quarterly earnings results on Wednesday, February 7th. The real estate investment trust reported $3.01 earnings per share for the quarter, topping the Zacks’ consensus estimate of $3.00 by $0.01. Essex Property Trust had a net margin of 31.75% and a return on equity of 6.76%. The firm had revenue of $345.06 million for the quarter, compared to the consensus estimate of $346.50 million. During the same quarter in the previous year, the company earned $2.85 earnings per share. research analysts expect that Essex Property Trust Inc will post 12.44 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, April 16th. Shareholders of record on Thursday, March 29th will be paid a dividend of $1.86 per share. The ex-dividend date is Wednesday, March 28th. This represents a $7.44 dividend on an annualized basis and a yield of 3.13%. This is an increase from Essex Property Trust’s previous quarterly dividend of $1.75. Essex Property Trust’s payout ratio is currently 106.38%.
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Essex Property Trust Profile
Essex Property Trust, Inc is a self-administered and self-managed real estate investment trust. The Company is engaged primarily in the ownership, operation, management, acquisition, development and redevelopment of predominantly apartment communities, located along the West Coast. Its segments include Southern California, Northern California, Seattle Metro and Other real estate assets.
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