Heitman Real Estate Securities LLC decreased its position in shares of Essex Property Trust Inc (NYSE:ESS) by 68.0% in the fourth quarter, HoldingsChannel.com reports. The firm owned 45,769 shares of the real estate investment trust’s stock after selling 97,147 shares during the quarter. Heitman Real Estate Securities LLC’s holdings in Essex Property Trust were worth $11,047,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors have also recently added to or reduced their stakes in ESS. Tower Research Capital LLC TRC acquired a new position in Essex Property Trust in the fourth quarter valued at approximately $100,000. Breton Hill Capital Ltd. acquired a new position in Essex Property Trust in the third quarter valued at approximately $200,000. Beacon Investment Advisory Services Inc. acquired a new position in shares of Essex Property Trust during the 3rd quarter worth approximately $200,000. Shelton Capital Management acquired a new position in shares of Essex Property Trust during the 4th quarter worth approximately $208,000. Finally, Checchi Capital Advisers LLC acquired a new position in shares of Essex Property Trust during the 4th quarter worth approximately $217,000. 97.24% of the stock is owned by hedge funds and other institutional investors.
Several analysts have issued reports on ESS shares. JPMorgan Chase & Co. dropped their target price on Essex Property Trust from $281.00 to $277.00 and set an “overweight” rating for the company in a report on Tuesday, March 6th. BMO Capital Markets reiterated a “hold” rating and set a $250.00 price target on shares of Essex Property Trust in a report on Tuesday, January 9th. Sandler O’Neill set a $235.00 target price on Essex Property Trust and gave the stock a “hold” rating in a research note on Friday, February 9th. Stifel Nicolaus lowered Essex Property Trust from a “buy” rating to a “hold” rating and reduced their price target for the company from $280.00 to $235.00 in a research report on Friday, January 19th. Finally, BTIG Research raised Essex Property Trust from a “neutral” rating to a “buy” rating and set a $273.00 price target on the stock in a research report on Wednesday, December 13th. One analyst has rated the stock with a sell rating, eight have given a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $264.35.
Shares of Essex Property Trust Inc (NYSE ESS) opened at $237.52 on Monday. The stock has a market capitalization of $15,685.89, a price-to-earnings ratio of 19.96, a PEG ratio of 3.23 and a beta of 0.45. Essex Property Trust Inc has a 1-year low of $214.03 and a 1-year high of $270.04. The company has a quick ratio of 1.27, a current ratio of 1.27 and a debt-to-equity ratio of 0.89.
Essex Property Trust (NYSE:ESS) last posted its quarterly earnings results on Wednesday, February 7th. The real estate investment trust reported $3.01 earnings per share for the quarter, topping the Zacks’ consensus estimate of $3.00 by $0.01. The business had revenue of $345.06 million for the quarter, compared to the consensus estimate of $346.50 million. Essex Property Trust had a net margin of 31.75% and a return on equity of 6.76%. During the same period in the prior year, the business posted $2.85 earnings per share. sell-side analysts expect that Essex Property Trust Inc will post 12.44 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, April 16th. Shareholders of record on Thursday, March 29th will be paid a dividend of $1.86 per share. This is a boost from Essex Property Trust’s previous quarterly dividend of $1.75. The ex-dividend date is Wednesday, March 28th. This represents a $7.44 dividend on an annualized basis and a yield of 3.13%. Essex Property Trust’s dividend payout ratio (DPR) is currently 106.38%.
Essex Property Trust Company Profile
Essex Property Trust, Inc is a self-administered and self-managed real estate investment trust. The Company is engaged primarily in the ownership, operation, management, acquisition, development and redevelopment of predominantly apartment communities, located along the West Coast. Its segments include Southern California, Northern California, Seattle Metro and Other real estate assets.
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