Vanderbilt University Has $1.30 Million Position in Essex Property Trust, Inc. (NYSE:ESS)

Vanderbilt University raised its stake in shares of Essex Property Trust, Inc. (NYSE:ESS - Free Report) by 32.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,547 shares of the real estate investment trust's stock after purchasing an additional 1,113 shares during the quarter. Vanderbilt University's holdings in Essex Property Trust were worth $1,298,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Essex Property Trust by 732.9% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 719,596 shares of the real estate investment trust's stock worth $212,583,000 after buying an additional 633,200 shares during the period. International Assets Investment Management LLC acquired a new position in Essex Property Trust during the third quarter worth $84,393,000. Jacobs Levy Equity Management Inc. lifted its holdings in shares of Essex Property Trust by 154.7% during the third quarter. Jacobs Levy Equity Management Inc. now owns 444,391 shares of the real estate investment trust's stock valued at $131,282,000 after acquiring an additional 269,923 shares during the period. Massachusetts Financial Services Co. MA boosted its stake in shares of Essex Property Trust by 16.1% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,329,516 shares of the real estate investment trust's stock valued at $392,766,000 after purchasing an additional 183,947 shares in the last quarter. Finally, KBC Group NV grew its holdings in shares of Essex Property Trust by 201.7% in the 4th quarter. KBC Group NV now owns 225,768 shares of the real estate investment trust's stock worth $64,443,000 after purchasing an additional 150,927 shares during the last quarter. 96.51% of the stock is owned by institutional investors and hedge funds.

Essex Property Trust Trading Down 2.1 %

ESS stock traded down $6.16 during midday trading on Friday, reaching $291.91. The company's stock had a trading volume of 444,466 shares, compared to its average volume of 474,074. The business's 50-day simple moving average is $286.78 and its 200-day simple moving average is $292.42. 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, Inc. has a 52 week low of $223.06 and a 52 week high of $317.73. The stock has a market cap of $18.76 billion, a PE ratio of 25.30, a price-to-earnings-growth ratio of 6.93 and a beta of 0.92.

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

Essex Property Trust Announces Dividend

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

Analyst Ratings Changes

Several brokerages recently issued reports on ESS. JPMorgan Chase & Co. downgraded shares of Essex Property Trust from a "neutral" rating to an "underweight" rating and lifted their price target for the company from $297.00 to $303.00 in a report on Tuesday, December 17th. Barclays cut their target price on shares of 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. JMP Securities restated a "market perform" rating on shares of Essex Property Trust in a research report on Thursday. BMO Capital Markets upgraded Essex Property Trust from a "market perform" rating to an "outperform" rating and cut their price objective for the company from $323.00 to $310.00 in a research report on Monday, January 13th. Finally, Mizuho decreased their target price on Essex Property Trust from $325.00 to $300.00 and set an "outperform" rating on the stock in a report on Monday, January 6th. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating and seven have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Essex Property Trust presently has a consensus rating of "Hold" and an average price target of $305.74.

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.