Pensionfund DSM Netherlands Cuts Holdings in Essex Property Trust, Inc. (NYSE:ESS)

Pensionfund DSM Netherlands decreased its holdings in shares of Essex Property Trust, Inc. (NYSE:ESS - Free Report) by 21.1% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 11,195 shares of the real estate investment trust's stock after selling 3,000 shares during the period. Essex Property Trust makes up about 2.0% of Pensionfund DSM Netherlands' holdings, making the stock its 14th largest holding. Pensionfund DSM Netherlands' holdings in Essex Property Trust were worth $3,196,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Assetmark Inc. raised its position in shares of Essex Property Trust by 2,400.0% during the 3rd 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 in the last quarter. Brooklyn Investment Group purchased a new stake in Essex Property Trust during the third quarter valued at about $39,000. Continuum Advisory LLC lifted its stake 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 last quarter. Sentry Investment Management LLC purchased a new position in shares of Essex Property Trust in the 3rd quarter worth about $89,000. Finally, Exchange Traded Concepts LLC raised its holdings in shares of Essex Property Trust by 1,247.2% during the 3rd quarter. Exchange Traded Concepts LLC now owns 485 shares of the real estate investment trust's stock valued at $143,000 after buying an additional 449 shares in the last quarter. 96.51% of the stock is currently owned by hedge funds and other institutional investors.

Essex Property Trust Stock Down 4.0 %

ESS stock traded down $11.37 during midday trading on Monday, hitting $272.88. The stock had a trading volume of 371,726 shares, compared to its average volume of 328,542. The business has a 50-day moving average of $295.98 and a two-hundred day moving average of $291.73. The company has a debt-to-equity ratio of 1.13, a current ratio of 1.14 and a quick ratio of 1.14. The firm has a market cap of $17.54 billion, a price-to-earnings ratio of 31.88, a price-to-earnings-growth ratio of 5.86 and a beta of 0.92. Essex Property Trust, Inc. has a 52-week low of $223.06 and a 52-week high of $317.73.

Essex Property Trust (NYSE:ESS - Get Free Report) last issued its quarterly earnings results on Tuesday, October 29th. The real estate investment trust reported $1.84 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.88 by ($2.04). The business had revenue of $450.70 million during the quarter, compared to the consensus estimate of $445.88 million. Essex Property Trust had a return on equity of 9.72% and a net margin of 31.55%. During the same quarter in the previous year, the business earned $3.78 earnings per share. As a group, equities research analysts forecast that Essex Property Trust, Inc. will post 15.56 earnings per share for the current fiscal year.

Essex Property Trust Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Thursday, January 2nd will be paid a $2.45 dividend. This represents a $9.80 dividend on an annualized basis and a yield of 3.59%. The ex-dividend date of this dividend is Thursday, January 2nd. Essex Property Trust's payout ratio is 114.49%.

Analysts Set New Price Targets

A number of brokerages have commented on ESS. Scotiabank increased their price target on shares of Essex Property Trust from $309.00 to $329.00 and gave the company a "sector outperform" rating in a research report on Monday, September 16th. Deutsche Bank Aktiengesellschaft increased their target price on shares of Essex Property Trust from $240.00 to $308.00 and gave the company a "hold" rating in a report on Tuesday, September 10th. JPMorgan Chase & Co. lowered shares of Essex Property Trust from a "neutral" rating to an "underweight" rating and upped their price target for the company from $297.00 to $303.00 in a research report on Tuesday, December 17th. Evercore ISI lifted their price objective on Essex Property Trust from $283.00 to $287.00 and gave the stock an "in-line" rating in a report on Monday, September 16th. Finally, Mizuho decreased their price target on Essex Property Trust from $325.00 to $300.00 and set an "outperform" rating on the stock in a research note on Monday. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, Essex Property Trust presently has an average rating of "Hold" and an average price target of $305.17.

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.