Vest Financial LLC Boosts Stake in Essex Property Trust, Inc. (NYSE:ESS)

Vest Financial LLC raised its position in Essex Property Trust, Inc. (NYSE:ESS) by 11.0% during the fourth quarter, HoldingsChannel.com reports. The firm owned 188,098 shares of the real estate investment trust’s stock after buying an additional 18,610 shares during the quarter. Vest Financial LLC’s holdings in Essex Property Trust were worth $53,691,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of ESS. Sanctuary Advisors LLC purchased a new position in Essex Property Trust in the second quarter valued at approximately $384,000. Czech National Bank increased its position in shares of Essex Property Trust by 6.9% in the third quarter. Czech National Bank now owns 13,080 shares of the real estate investment trust’s stock worth $3,864,000 after acquiring an additional 845 shares in the last quarter. GAMMA Investing LLC raised its stake in shares of Essex Property Trust by 20.9% in the 3rd quarter. GAMMA Investing LLC now owns 1,097 shares of the real estate investment trust’s stock valued at $324,000 after acquiring an additional 190 shares during the period. Mather Group LLC. lifted its holdings in shares of Essex Property Trust by 7.4% during the 3rd quarter. Mather Group LLC. now owns 781 shares of the real estate investment trust’s stock valued at $231,000 after acquiring an additional 54 shares in the last quarter. Finally, Atomi Financial Group Inc. purchased a new stake in Essex Property Trust during the 3rd quarter worth $204,000. 96.51% of the stock is currently owned by hedge funds and other institutional investors.

Essex Property Trust Stock Down 2.1 %

NYSE:ESS opened at $291.91 on Friday. The company has a debt-to-equity ratio of 1.13, a quick ratio of 1.14 and a current ratio of 1.14. The company has a market capitalization of $18.76 billion, a price-to-earnings ratio of 34.10, a price-to-earnings-growth ratio of 6.60 and a beta of 0.92. Essex Property Trust, Inc. has a one year low of $223.06 and a one year high of $317.73. The stock has a 50-day simple moving average of $287.15 and a 200 day simple moving average of $292.40.

Essex Property Trust (NYSE:ESS) last issued its earnings results on Tuesday, February 4th. The real estate investment trust reported $3.92 EPS for the quarter, topping the consensus estimate of $1.40 by $2.52. Essex Property Trust had a return on equity of 9.72% and a net margin of 31.55%. Sell-side analysts predict that Essex Property Trust, Inc. will post 15.58 EPS for the current fiscal year.

Essex Property Trust Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Thursday, January 2nd were issued a dividend of $2.45 per share. The ex-dividend date was Thursday, January 2nd. This represents a $9.80 dividend on an annualized basis and a dividend yield of 3.36%. Essex Property Trust’s dividend payout ratio (DPR) is 84.92%.

Wall Street Analysts Forecast Growth

Several research firms have commented on ESS. BMO Capital Markets raised Essex Property Trust from a “market perform” rating to an “outperform” rating and cut their price objective for the company from $323.00 to $310.00 in a research report on Monday, January 13th. Deutsche Bank Aktiengesellschaft raised Essex Property Trust from a “hold” rating to a “buy” rating and boosted their price target for the stock from $308.00 to $310.00 in a research report on Tuesday, January 21st. Raymond James downgraded shares of Essex Property Trust from an “outperform” rating to a “market perform” rating in a research report on Monday, October 21st. JPMorgan Chase & Co. lowered shares of Essex Property Trust from a “neutral” rating to an “underweight” rating and lifted their price objective for the company from $297.00 to $303.00 in a research note on Tuesday, December 17th. Finally, Mizuho decreased their target price on shares of Essex Property Trust from $325.00 to $300.00 and set an “outperform” rating for the company in a research note on Monday, January 6th. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $305.74.

About Essex Property Trust

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.