State of Tennessee Treasury Department lifted its stake in shares of Essex Property Trust Inc (NYSE:ESS) by 57.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 57,489 shares of the real estate investment trust’s stock after acquiring an additional 21,033 shares during the quarter. State of Tennessee Treasury Department owned 0.09% of Essex Property Trust worth $12,662,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Retirement Network bought a new stake in shares of Essex Property Trust during the 1st quarter worth $31,000. BDO Wealth Advisors LLC purchased a new stake in shares of Essex Property Trust during the first quarter worth $33,000. Private Capital Group LLC raised its holdings in shares of Essex Property Trust by 50.0% during the first quarter. Private Capital Group LLC now owns 231 shares of the real estate investment trust’s stock worth $51,000 after acquiring an additional 77 shares in the last quarter. Valeo Financial Advisors LLC raised its holdings in Essex Property Trust by 111.0% during the first quarter. Valeo Financial Advisors LLC now owns 211 shares of the real estate investment trust’s stock valued at $52,000 after buying an additional 111 shares in the last quarter. Finally, Quadrant Capital Group LLC increased its stake in shares of Essex Property Trust by 18.9% in the fourth quarter. Quadrant Capital Group LLC now owns 384 shares of the real estate investment trust’s stock worth $108,000 after purchasing an additional 61 shares during the period. 94.55% of the stock is owned by institutional investors and hedge funds.

Shares of NYSE:ESS traded down $2.71 during trading on Friday, hitting $226.55. 2,894 shares of the company’s stock traded hands, compared to its average volume of 559,210. Essex Property Trust Inc has a 52 week low of $175.81 and a 52 week high of $334.17. The company has a current ratio of 1.64, a quick ratio of 1.64 and a debt-to-equity ratio of 1.01. The company has a market cap of $14.90 billion, a price-to-earnings ratio of 23.83, a price-to-earnings-growth ratio of 4.76 and a beta of 0.69. The company has a 50-day moving average price of $243.91 and a 200-day moving average price of $270.65.

Essex Property Trust (NYSE:ESS) last released its quarterly earnings data on Wednesday, May 6th. The real estate investment trust reported $4.76 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $3.40 by $1.36. Essex Property Trust had a return on equity of 9.94% and a net margin of 42.47%. The business had revenue of $392.37 million for the quarter, compared to analysts’ expectations of $383.23 million. During the same quarter in the previous year, the business posted $3.23 EPS. On average, analysts predict that Essex Property Trust Inc will post 13.32 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th will be issued a dividend of $2.0775 per share. This represents a $8.31 annualized dividend and a dividend yield of 3.67%. The ex-dividend date of this dividend is Monday, June 29th. Essex Property Trust’s dividend payout ratio (DPR) is presently 62.11%.

ESS has been the subject of a number of recent research reports. Raymond James cut Essex Property Trust from a “market perform” rating to an “underperform” rating in a report on Friday, June 12th. Goldman Sachs Group lowered Essex Property Trust from a “buy” rating to a “neutral” rating and lowered their target price for the company from $320.00 to $238.00 in a research note on Thursday, April 2nd. Stifel Nicolaus lifted their price objective on Essex Property Trust from $248.00 to $270.00 and gave the stock a “buy” rating in a research report on Friday, May 8th. SunTrust Banks lifted their price objective on Essex Property Trust from $262.00 to $268.00 and gave the stock a “hold” rating in a research report on Wednesday, May 27th. Finally, Zelman & Associates upgraded Essex Property Trust from a “sell” rating to a “hold” rating in a research report on Wednesday, March 25th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and six have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $291.31.

Essex Property Trust 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 245 apartment communities with an additional 6 properties in various stages of active development.

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Institutional Ownership by Quarter for Essex Property Trust (NYSE:ESS)

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