3,300 Essex Property Trust, Inc. $ESS Shares Acquired by VIRGINIA RETIREMENT SYSTEMS ET Al

VIRGINIA RETIREMENT SYSTEMS ET Al lifted its position in Essex Property Trust, Inc. (NYSE:ESS) by 3.1% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 110,312 shares of the real estate investment trust’s stock after acquiring an additional 3,300 shares during the quarter. VIRGINIA RETIREMENT SYSTEMS ET Al owned 0.17% of Essex Property Trust worth $29,717,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in ESS. Robertson Stephens Wealth Management LLC grew its holdings in Essex Property Trust by 5.5% during the 3rd quarter. Robertson Stephens Wealth Management LLC now owns 787 shares of the real estate investment trust’s stock valued at $214,000 after purchasing an additional 41 shares during the last quarter. Revisor Wealth Management LLC raised its position in Essex Property Trust by 3.8% in the 3rd quarter. Revisor Wealth Management LLC now owns 1,370 shares of the real estate investment trust’s stock worth $369,000 after purchasing an additional 50 shares during the period. EverSource Wealth Advisors LLC lifted its stake in Essex Property Trust by 31.2% in the first quarter. EverSource Wealth Advisors LLC now owns 265 shares of the real estate investment trust’s stock worth $64,000 after purchasing an additional 63 shares during the last quarter. North Dakota State Investment Board lifted its stake in Essex Property Trust by 3.4% in the third quarter. North Dakota State Investment Board now owns 1,959 shares of the real estate investment trust’s stock worth $528,000 after purchasing an additional 64 shares during the last quarter. Finally, Apollon Wealth Management LLC lifted its stake in Essex Property Trust by 9.7% in the third quarter. Apollon Wealth Management LLC now owns 812 shares of the real estate investment trust’s stock worth $219,000 after purchasing an additional 72 shares during the last quarter. 96.51% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have issued reports on ESS. Wells Fargo & Company dropped their target price on Essex Property Trust from $297.00 to $279.00 and set an “equal weight” rating for the company in a research report on Monday, October 19th. Evercore set a $299.00 price target on Essex Property Trust in a report on Monday, September 21st. Barclays decreased their price target on Essex Property Trust from $297.00 to $285.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 14th. Piper Sandler reissued an “overweight” rating and set a $320.00 price target (down from $326.00) on shares of Essex Property Trust in a research note on Thursday. Finally, Cantor Fitzgerald boosted their price objective on Essex Property Trust from $291.00 to $316.00 and gave the company an “overweight” rating in a report on Monday, August 3rd. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Essex Property Trust currently has a consensus rating of “Moderate Buy” and an average price target of $298.27.

Essex Property Trust Trading Down 0.4%

Shares of ESS opened at $264.04 on Friday. Essex Property Trust, Inc. has a 1-year low of $238.46 and a 1-year high of $303.35. The company has a 50-day moving average of $274.49 and a 200 day moving average of $269.67. The firm has a market capitalization of $16.99 billion, a price-to-earnings ratio of 48.99, a PEG ratio of 7.82 and a beta of 0.70. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.54 and a quick ratio of 0.60.

Essex Property Trust (NYSE:ESS) last released its quarterly earnings data on Tuesday, October 27th. The real estate investment trust reported $1.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.01 by ($2.49). The company had revenue of $492.69 million during the quarter, compared to analysts’ expectations of $491.01 million. Essex Property Trust had a net margin of 17.84% and a return on equity of 6.24%. During the same period last year, the firm earned $3.97 earnings per share. On average, research analysts expect that Essex Property Trust, Inc. will post 16.16 EPS for the current year.

Essex Property Trust Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th were paid a dividend of $2.59 per share. This represents a $10.36 annualized dividend and a dividend yield of 3.9%. The ex-dividend date of this dividend was Wednesday, September 30th. Essex Property Trust’s payout ratio is currently 192.21%.

Essex Property Trust Company Profile

Essex Property Trust, Inc is a self-administered and self-managed real estate investment trust that owns, develops, redevelops, and manages multifamily apartment communities. The company focuses on providing rental housing in high-demand markets and generates revenue primarily from apartment rents and related resident services.

Founded in 1971 and headquartered in San Mateo, California, Essex operates primarily in Southern California, the San Francisco Bay Area, and the Seattle metropolitan area.