Essex Property Trust, Inc. (NYSE:ESS) Shares Acquired by Kestra Private Wealth Services LLC

Kestra Private Wealth Services LLC raised its stake in shares of Essex Property Trust, Inc. (NYSE:ESS - Free Report) by 28.1% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 4,385 shares of the real estate investment trust's stock after purchasing an additional 963 shares during the period. Kestra Private Wealth Services LLC's holdings in Essex Property Trust were worth $1,252,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Sanctuary Advisors LLC purchased a new stake in Essex Property Trust during the second quarter worth approximately $384,000. Exchange Traded Concepts LLC grew its stake in Essex Property Trust by 1,247.2% during the third quarter. Exchange Traded Concepts LLC now owns 485 shares of the real estate investment trust's stock worth $143,000 after buying an additional 449 shares during the period. Thurston Springer Miller Herd & Titak Inc. grew its stake in Essex Property Trust by 12.1% during the third quarter. Thurston Springer Miller Herd & Titak Inc. now owns 539 shares of the real estate investment trust's stock worth $159,000 after buying an additional 58 shares during the period. Creative Planning grew its stake in Essex Property Trust by 2.0% during the third quarter. Creative Planning now owns 6,166 shares of the real estate investment trust's stock worth $1,822,000 after buying an additional 120 shares during the period. Finally, Stableford Capital II LLC purchased a new stake in Essex Property Trust during the third quarter worth approximately $486,000. Institutional investors and hedge funds own 96.51% of the company's stock.

Essex Property Trust Stock Performance

Shares of NYSE:ESS traded down $3.53 on Friday, reaching $288.09. 441,874 shares of the company's stock were exchanged, compared to its average volume of 474,074. The firm has a market capitalization of $18.51 billion, a price-to-earnings ratio of 24.96, a PEG ratio of 6.93 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 business's 50-day moving average is $285.71 and its two-hundred day moving average is $292.63. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 1.15.

Essex Property Trust (NYSE:ESS - Get Free Report) last issued its 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 research analysts forecast that Essex Property Trust, Inc. will post 15.96 EPS for the current 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 of this dividend was Thursday, January 2nd. This represents a $9.80 dividend on an annualized basis and a dividend yield of 3.40%. Essex Property Trust's dividend payout ratio (DPR) is 84.92%.

Analyst Ratings Changes

ESS has been the subject of several research reports. JPMorgan Chase & Co. downgraded shares of Essex Property Trust from a "neutral" rating to an "underweight" rating and boosted their price objective for the stock from $297.00 to $303.00 in a research note on Tuesday, December 17th. Wells Fargo & Company decreased their target price on shares of Essex Property Trust from $314.00 to $305.00 and set an "equal weight" rating for the company in a research note on Friday, January 24th. JMP Securities restated a "market perform" rating on shares of Essex Property Trust in a research note on Thursday, February 6th. Deutsche Bank Aktiengesellschaft upgraded shares of Essex Property Trust from a "hold" rating to a "buy" rating and upped their target price for the company from $308.00 to $310.00 in a research note on Tuesday, January 21st. Finally, Royal Bank of Canada upped their target price on shares of Essex Property Trust from $302.00 to $315.00 and gave the company an "outperform" rating in a research note on Thursday, February 6th. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $306.53.

Essex Property Trust Company 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.