Sumitomo Mitsui Trust Group Inc. Lowers Stock Position in Essex Property Trust, Inc. (NYSE:ESS)

Sumitomo Mitsui Trust Group Inc. lowered its stake in shares of Essex Property Trust, Inc. (NYSE:ESS - Free Report) by 1.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 233,895 shares of the real estate investment trust's stock after selling 3,322 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned 0.36% of Essex Property Trust worth $66,763,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Assetmark Inc. grew its position in Essex Property Trust by 2,400.0% during the third 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 during the period. Brooklyn Investment Group bought a new position in Essex Property Trust during the third quarter worth about $39,000. UMB Bank n.a. boosted its position 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 worth $44,000 after purchasing an additional 42 shares during the period. Continuum Advisory LLC boosted its position in Essex Property Trust by 104.5% during the third quarter. Continuum Advisory LLC now owns 225 shares of the real estate investment trust's stock worth $68,000 after purchasing an additional 115 shares during the period. Finally, Sentry Investment Management LLC bought a new position in Essex Property Trust in the 3rd quarter worth approximately $89,000. 96.51% of the stock is owned by institutional investors.

Essex Property Trust Trading Up 0.5 %

NYSE ESS traded up $1.31 on Thursday, hitting $291.73. The company's stock had a trading volume of 422,322 shares, compared to its average volume of 473,135. Essex Property Trust, Inc. has a 52-week low of $225.09 and a 52-week 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 company's 50-day simple moving average is $286.11 and its 200 day simple moving average is $292.54. The firm has a market cap of $18.75 billion, a P/E ratio of 25.28, a PEG ratio of 6.93 and a beta of 0.92.

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 EPS for the quarter, topping 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%. Research analysts predict that Essex Property Trust, Inc. will post 15.96 EPS for the current fiscal year.

Essex Property Trust Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Thursday, January 2nd were given a $2.45 dividend. The ex-dividend date was Thursday, January 2nd. This represents a $9.80 annualized dividend and a dividend yield of 3.36%. Essex Property Trust's dividend payout ratio is 84.92%.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. Barclays cut their target price on Essex Property Trust from $316.00 to $302.00 and set an "equal weight" rating for the company in a research note on Friday, January 24th. Wells Fargo & Company dropped their price objective on shares of 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. Royal Bank of Canada lifted their price target on Essex Property Trust from $302.00 to $315.00 and gave the stock an "outperform" rating in a research note on Thursday, February 6th. BMO Capital Markets raised Essex Property Trust from a "market perform" rating to an "outperform" rating and cut their target price for the stock from $323.00 to $310.00 in a research note on Monday, January 13th. Finally, JPMorgan Chase & Co. downgraded shares of Essex Property Trust from a "neutral" rating to an "underweight" rating and lifted their price target for the stock from $297.00 to $303.00 in a research note on Tuesday, December 17th. One 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's stock. According to MarketBeat.com, Essex Property Trust presently has an average rating of "Hold" and a consensus target price of $306.53.

Essex Property Trust 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.