Fifth Third Bancorp Has $1.19 Million Stock Holdings in Essex Property Trust, Inc. (NYSE:ESS)

Fifth Third Bancorp lifted its holdings in Essex Property Trust, Inc. (NYSE:ESS) by 1.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,871 shares of the real estate investment trust’s stock after buying an additional 61 shares during the period. Fifth Third Bancorp’s holdings in Essex Property Trust were worth $1,187,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of ESS. Norges Bank acquired a new stake in shares of Essex Property Trust in the fourth quarter worth $471,258,000. GAMMA Investing LLC boosted its position in Essex Property Trust by 35,500.1% during the first quarter. GAMMA Investing LLC now owns 448,205 shares of the real estate investment trust’s stock valued at $137,406,000 after purchasing an additional 446,946 shares during the last quarter. Northern Trust Corp boosted its position 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 valued at $321,928,000 after purchasing an additional 404,892 shares during the last quarter. Balyasny Asset Management L.P. boosted its position in Essex Property Trust by 64.0% during the fourth quarter. Balyasny Asset Management L.P. now owns 570,786 shares of the real estate investment trust’s stock valued at $162,925,000 after purchasing an additional 222,713 shares during the last quarter. Finally, Schroder Investment Management Group boosted its position in Essex Property Trust by 1,620.1% during the fourth quarter. Schroder Investment Management Group now owns 197,436 shares of the real estate investment trust’s stock valued at $55,835,000 after purchasing an additional 185,958 shares during the last quarter. Institutional investors and hedge funds own 96.51% of the company’s stock.

Essex Property Trust Trading Down 2.1%

Essex Property Trust stock opened at $283.61 on Monday. 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’s 50-day simple moving average is $278.93 and its 200-day simple moving average is $287.12. The firm has a market capitalization of $18.26 billion, a PE ratio of 24.58, a PEG ratio of 6.84 and a beta of 0.78. 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) last posted its quarterly earnings data on Tuesday, April 29th. The real estate investment trust reported $3.97 EPS for the quarter, topping analysts’ consensus estimates of $3.92 by $0.05. The business 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 in the previous year, the company posted $3.83 earnings per share. Equities research analysts forecast that Essex Property Trust, Inc. will post 15.96 earnings per share for the current year.

Essex Property Trust Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th will be paid 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 dividend yield of 3.62%. Essex Property Trust’s payout ratio is presently 98.37%.

Analyst Ratings Changes

A number of research firms recently issued reports on ESS. Scotiabank reduced their price objective on Essex Property Trust from $344.00 to $320.00 and set a “sector outperform” rating for the company in a research report on Friday. BMO Capital Markets lifted their price objective on Essex Property Trust from $315.00 to $317.00 and gave the company an “outperform” rating in a research report on Wednesday, May 28th. Royal Bank of Canada reduced their price objective on Essex Property Trust from $311.00 to $309.00 and set an “outperform” rating for the company in a research report on Thursday, May 1st. Truist Financial lifted their price objective on Essex Property Trust from $292.00 to $304.00 and gave the company a “hold” rating in a research report on Monday, March 10th. Finally, Mizuho cut their target price 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 assigned a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, Essex Property Trust has an average rating of “Hold” and a consensus 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.