CX Institutional Invests $152,000 in Essex Property Trust, Inc. (NYSE:ESS)

CX Institutional bought a new position in shares of Essex Property Trust, Inc. (NYSE:ESS) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 496 shares of the real estate investment trust’s stock, valued at approximately $152,000.

Several other large investors have also added to or reduced their stakes in the business. Empowered Funds LLC grew its stake in Essex Property Trust by 3.3% during the fourth quarter. Empowered Funds LLC now owns 1,195 shares of the real estate investment trust’s stock worth $338,000 after purchasing an additional 38 shares during the period. DoubleLine ETF Adviser LP grew its stake in Essex Property Trust by 0.8% in the fourth quarter. DoubleLine ETF Adviser LP now owns 4,624 shares of the real estate investment trust’s stock valued at $1,320,000 after acquiring an additional 38 shares during the period. Gen Wealth Partners Inc grew its stake in Essex Property Trust by 2.4% in the fourth quarter. Gen Wealth Partners Inc now owns 1,952 shares of the real estate investment trust’s stock valued at $557,000 after acquiring an additional 45 shares during the period. US Bancorp DE grew its stake in Essex Property Trust by 1.2% in the fourth quarter. US Bancorp DE now owns 4,126 shares of the real estate investment trust’s stock valued at $1,178,000 after acquiring an additional 49 shares during the period. Finally, CoreCap Advisors LLC boosted its position in shares of Essex Property Trust by 17.7% during the fourth 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 last quarter. Institutional investors and hedge funds own 96.51% of the company’s stock.

Essex Property Trust Price Performance

ESS opened at $283.61 on Monday. The firm has a market cap of $18.26 billion, a price-to-earnings ratio of 24.58, a PEG ratio of 6.84 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’s 50 day simple moving average is $278.93 and its 200 day simple moving average is $287.12. The company has a debt-to-equity ratio of 1.15, a current ratio of 1.14 and a quick ratio of 1.14.

Essex Property Trust (NYSE:ESS) last issued its quarterly earnings data on Tuesday, April 29th. The real estate investment trust reported $3.97 earnings per share for the quarter, topping analysts’ consensus estimates of $3.92 by $0.05. The firm had revenue of $464.58 million for the quarter, compared to analyst estimates 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 period last year, the company earned $3.83 EPS. As a group, analysts predict that Essex Property Trust, Inc. will post 15.96 earnings per share for the current year.

Essex Property Trust Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Investors 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 3.62%. Essex Property Trust’s dividend payout ratio is presently 98.37%.

Analyst Ratings Changes

Several research analysts recently issued reports on the company. Piper Sandler reaffirmed an “overweight” rating and set a $355.00 target price (down previously from $370.00) on shares of Essex Property Trust in a research report on Friday, May 23rd. Truist Financial boosted their target price on Essex Property Trust from $292.00 to $304.00 and gave the company a “hold” rating in a research note on Monday, March 10th. Scotiabank dropped their price objective on Essex Property Trust from $344.00 to $320.00 and set a “sector outperform” rating on the stock in a report on Friday. Royal Bank of Canada lowered their price target on Essex Property Trust from $311.00 to $309.00 and set an “outperform” rating on the stock in a report on Thursday, May 1st. Finally, Mizuho lowered their price target on Essex Property Trust from $314.00 to $293.00 and set an “outperform” rating on the stock in a report on Friday, May 23rd. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $310.83.

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.