Essex Property Trust, Inc. (NYSE:ESS) Shares Sold by Aew Capital Management L P

Aew Capital Management L P reduced its position in Essex Property Trust, Inc. (NYSE:ESS) by 4.6% in the 4th quarter, Holdings Channel reports. The firm owned 59,791 shares of the real estate investment trust’s stock after selling 2,910 shares during the quarter. Aew Capital Management L P’s holdings in Essex Property Trust were worth $17,067,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in ESS. Kestra Investment Management LLC purchased a new stake in Essex Property Trust in the 4th quarter valued at $25,000. Assetmark Inc. grew its holdings in Essex Property Trust by 2,400.0% in the 3rd quarter. Assetmark Inc. now owns 100 shares of the real estate investment trust’s stock valued at $30,000 after buying an additional 96 shares in the last quarter. Brooklyn Investment Group purchased a new stake in Essex Property Trust in the 3rd quarter valued at $39,000. UMB Bank n.a. grew its holdings in Essex Property Trust by 37.5% in the 4th quarter. UMB Bank n.a. now owns 154 shares of the real estate investment trust’s stock valued at $44,000 after buying an additional 42 shares in the last quarter. Finally, Newbridge Financial Services Group Inc. purchased a new stake in Essex Property Trust in the 4th quarter valued at $45,000. 96.51% of the stock is owned by institutional investors and hedge funds.

Essex Property Trust Price Performance

ESS opened at $311.80 on Friday. The stock’s 50-day moving average price is $286.44 and its 200 day moving average price is $293.76. Essex Property Trust, Inc. has a 12-month low of $226.84 and a 12-month high of $317.73. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 1.15. The firm has a market cap of $20.04 billion, a price-to-earnings ratio of 27.02, a PEG ratio of 6.84 and a beta of 0.92.

Essex Property Trust (NYSE:ESS) last posted its quarterly earnings results on Tuesday, February 4th. The real estate investment trust reported $3.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.40 by $2.52. Essex Property Trust had a return on equity of 13.05% and a net margin of 41.79%. As a group, sell-side analysts expect that Essex Property Trust, Inc. will post 15.96 earnings per share for the current year.

Essex Property Trust Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be given a $2.57 dividend. The ex-dividend date is Monday, March 31st. This represents a $10.28 dividend on an annualized basis and a yield of 3.30%. This is a positive change from Essex Property Trust’s previous quarterly dividend of $2.45. Essex Property Trust’s dividend payout ratio (DPR) is currently 89.08%.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Deutsche Bank Aktiengesellschaft upgraded Essex Property Trust from a “hold” rating to a “buy” rating and upped their target price for the company from $308.00 to $310.00 in a report on Tuesday, January 21st. Royal Bank of Canada upped their target price on Essex Property Trust from $302.00 to $315.00 and gave the company an “outperform” rating in a report on Thursday, February 6th. Barclays upped their target price on Essex Property Trust from $302.00 to $304.00 and gave the company an “equal weight” rating in a report on Wednesday, February 19th. Wells Fargo & Company lowered their price target on Essex Property Trust from $314.00 to $305.00 and set an “equal weight” rating for the company in a report on Friday, January 24th. Finally, Mizuho lowered their price target on Essex Property Trust from $325.00 to $300.00 and set an “outperform” rating for the company in a report on Monday, January 6th. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $306.63.

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.