Hartford Investment Management Co. reduced its position in shares of Essex Property Trust, Inc. (NYSE:ESS – Get Rating ) by 6.4% during the first quarter, Holdings Channel reports. The firm owned 6,197 shares of the real estate investment trust’s stock after selling 421 shares during the period. Hartford Investment Management Co.’s holdings. in Essex Property Trust were worth $2,141,000 as of its most recent SEC filing.
Other institutional investors have also recently added to or reduced their stakes in the company. Cassady Schiller Wealth Management LLC bought a new stake in Essex Property Trust in the 4th quarter worth about $28,000. Danda Trouve Investment Management Inc. purchased a new position in shares of Essex Property Trust in the fourth quarter valued at approximately $40,000. Total Clarity Wealth Management Inc. purchased a new stake in shares of Essex Property Trust during the fourth quarter valued at approximately $45,000. Huntington National Bank boosted its holdings in Essex Property Trust by 53.5% during the fourth quarter. Huntington National Bank now owns 132 shares of the real estate investment trust’s stock valued at $46,000 after acquiring an additional 46 shares during the period. Finally, CWM LLC purchased a new position in Essex Property Trust during the fourth quarter valued at $63,000. The institutional investor and hedge fund owned 96.09% of the company’s stock.
NYSE:ESS opened at $266.73 on Monday. The company has a market cap of $17.43 billion, a price-to-earnings ratio of 44.16, a PEG ratio of 2.97 and a beta of 0.76. The business has a 50 day moving average of $286.49 and a 200 day moving average of $319.96. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.41, and a quick ratio of 1.41. Essex Property Trust, Inc. has a 1-year low of $250.62 and a 1-year high of $363.36.
Essex Property Trust (NYSE:ESS – Get Rating) last posted its quarterly earnings results on Tuesday, April 26th. The real estate investment trust reported $1.12 EPS for the quarter, missing the consensus estimate of $3.35 by ($2.23). Essex Property Trust had a return on equity of 5.25% and a net margin of 26.81%. In the same quarter last year, the company earned $3.07 EPS. As a group, sell-side analysts expect Essex Property Trust, Inc. to post 14.17 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, July 15th. Shareholders of record on Thursday, June 30th will be paid a dividend of $2.20 per share. The ex-dividend date is Wednesday, June 29th. This represents an $8.80 annual dividend and a yield of 3.30%. Essex Property Trust’s payout ratio is 145.70%.
ESS has been the subject of several research reports. Barclays lowered shares of Essex Property Trust from an “equal weight” rating to an “underweight” rating and reduced their target price for the company from $367.00 to $310.00 in a research report on Tuesday, May 10th. Piper Sandler cut their target price on Essex Property Trust from $400.00 to $340.00 and set an “overweight” rating for the company in a research report on Monday, June 27th. Mizuho dropped their target price on Essex Property Trust from $342.00 to $273.00 and set a “buy” rating on the stock in a research note on Monday, June 27th. Credit Suisse Group started coverage on Essex Property Trust in a research note on Wednesday, June 22nd. They set an “underperform” rating and a $247.00 target price for the company. Finally, TheStreet downgraded shares of Essex Property Trust from a “b-” rating to a “c+” rating in a report on Friday, May 13th. Three analysts have rated the stock with a sell rating, nine have given a hold rating and eight have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $317.56, based on data from MarketBeat.com.
Essex Property Trust Company Profile (Get Rating)
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 select West Coast markets. Essex currently has interests in 246 residential developments comprising approximately 60,000 apartment homes with an additional 6 properties in various stages of active development.
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