Alberta Investment Management Corp Invests $3.09 Million in Essex Property Trust, Inc. (NYSE:ESS)

Alberta Investment Management Corp bought a new position in Essex Property Trust, Inc. (NYSE:ESS - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 10,810 shares of the real estate investment trust's stock, valued at approximately $3,086,000.

A number of other institutional investors have also recently bought and sold shares of ESS. Legacy Wealth Asset Management LLC lifted its holdings in shares of Essex Property Trust by 4.7% during the 3rd quarter. Legacy Wealth Asset Management LLC now owns 775 shares of the real estate investment trust's stock worth $229,000 after acquiring an additional 35 shares during the period. CWA Asset Management Group LLC raised its position in Essex Property Trust by 5.0% in the fourth quarter. CWA Asset Management Group LLC now owns 803 shares of the real estate investment trust's stock worth $229,000 after purchasing an additional 38 shares in the last quarter. Empowered Funds LLC lifted its stake in Essex Property Trust by 3.3% during the fourth quarter. Empowered Funds LLC now owns 1,195 shares of the real estate investment trust's stock worth $338,000 after purchasing an additional 38 shares during the period. UMB Bank n.a. boosted its holdings in Essex Property Trust by 37.5% during the fourth quarter. UMB Bank n.a. now owns 154 shares of the real estate investment trust's stock valued at $44,000 after purchasing an additional 42 shares in the last quarter. Finally, Miracle Mile Advisors LLC grew its stake in shares of Essex Property Trust by 0.3% in the 4th quarter. Miracle Mile Advisors LLC now owns 14,157 shares of the real estate investment trust's stock valued at $4,041,000 after purchasing an additional 46 shares during the period. Institutional investors and hedge funds own 96.51% of the company's stock.

Essex Property Trust Trading Up 0.0 %

ESS traded up $0.06 during trading on Friday, reaching $294.47. 456,277 shares of the company's stock were exchanged, compared to its average volume of 479,438. The firm has a market capitalization of $18.92 billion, a PE ratio of 25.52, a P/E/G ratio of 6.77 and a beta of 0.92. Essex Property Trust, Inc. has a fifty-two week low of $225.40 and a fifty-two week high of $317.73. The company's fifty day moving average price is $285.01 and its 200-day moving average price is $292.81. The company has a debt-to-equity ratio of 1.15, a quick ratio of 1.14 and a current ratio of 1.14.

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

Essex Property Trust Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be issued a dividend of $2.57 per share. This represents a $10.28 annualized dividend and a dividend yield of 3.49%. The ex-dividend date is Monday, March 31st. This is a boost from Essex Property Trust's previous quarterly dividend of $2.45. Essex Property Trust's payout ratio is 84.92%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on ESS shares. Barclays boosted their price target on Essex Property Trust from $302.00 to $304.00 and gave the company an "equal weight" rating in a research note on Wednesday. Mizuho reduced their target price on shares of Essex Property Trust from $325.00 to $300.00 and set an "outperform" rating on the stock in a research note on Monday, January 6th. Evercore ISI increased their target price on shares of Essex Property Trust from $297.00 to $302.00 and gave the stock an "in-line" rating in a research report on Monday, February 10th. BMO Capital Markets upgraded shares of Essex Property Trust from a "market perform" rating to an "outperform" rating and reduced their price target for the company from $323.00 to $310.00 in a research report on Monday, January 13th. Finally, Royal Bank of Canada upped their price objective on shares of Essex Property Trust from $302.00 to $315.00 and gave the stock an "outperform" rating in a research note on Thursday, February 6th. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, Essex Property Trust has a consensus rating of "Hold" and a consensus price target of $306.63.

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.