Cbre Clarion Securities LLC Purchases 9,427 Shares of Essex Property Trust, Inc. (NYSE:ESS)

Cbre Clarion Securities LLC grew its position in Essex Property Trust, Inc. (NYSE:ESS) by 15.6% in the first quarter, according to its most recent filing with the SEC. The fund owned 69,846 shares of the real estate investment trust’s stock after acquiring an additional 9,427 shares during the period. Cbre Clarion Securities LLC owned 0.11% of Essex Property Trust worth $18,987,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Truist Financial Corp lifted its stake in shares of Essex Property Trust by 221.3% in the 4th quarter. Truist Financial Corp now owns 48,266 shares of the real estate investment trust’s stock valued at $11,459,000 after acquiring an additional 33,242 shares during the last quarter. Pensionfund DSM Netherlands lifted its stake in shares of Essex Property Trust by 3.9% in the 1st quarter. Pensionfund DSM Netherlands now owns 17,145 shares of the real estate investment trust’s stock valued at $4,661,000 after acquiring an additional 645 shares during the last quarter. KBC Group NV lifted its stake in shares of Essex Property Trust by 4.1% in the 4th quarter. KBC Group NV now owns 16,013 shares of the real estate investment trust’s stock valued at $3,802,000 after acquiring an additional 626 shares during the last quarter. Sei Investments Co. lifted its stake in shares of Essex Property Trust by 7.8% in the 1st quarter. Sei Investments Co. now owns 303,990 shares of the real estate investment trust’s stock valued at $82,607,000 after acquiring an additional 22,034 shares during the last quarter. Finally, LPL Financial LLC lifted its stake in shares of Essex Property Trust by 478.1% in the 4th quarter. LPL Financial LLC now owns 14,991 shares of the real estate investment trust’s stock valued at $3,559,000 after acquiring an additional 12,398 shares during the last quarter. Institutional investors own 92.37% of the company’s stock.

ESS has been the subject of several analyst reports. Royal Bank of Canada initiated coverage on Essex Property Trust in a research report on Tuesday, March 30th. They set an “outperform” rating and a $303.00 target price for the company. Evercore ISI reaffirmed an “in-line” rating on shares of Essex Property Trust in a research report on Monday, May 10th. Raymond James reaffirmed a “sell” rating on shares of Essex Property Trust in a research report on Tuesday, February 23rd. BTIG Research reaffirmed a “neutral” rating on shares of Essex Property Trust in a research report on Tuesday, May 25th. Finally, Morgan Stanley raised their target price on Essex Property Trust from $319.00 to $332.00 and gave the stock an “equal weight” rating in a research report on Friday. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and seven have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $291.27.

Essex Property Trust stock traded down $0.81 during trading hours on Friday, reaching $313.23. 3,376 shares of the company’s stock were exchanged, compared to its average volume of 416,266. The company has a debt-to-equity ratio of 0.98, a current ratio of 2.40 and a quick ratio of 2.40. The stock’s 50 day moving average price is $291.35. The firm has a market cap of $20.36 billion, a price-to-earnings ratio of 48.46, a PEG ratio of 7.21 and a beta of 0.73. Essex Property Trust, Inc. has a twelve month low of $186.30 and a twelve month high of $316.63.

Essex Property Trust (NYSE:ESS) last issued its earnings results on Tuesday, April 27th. The real estate investment trust reported $2.59 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $3.04 by ($0.45). Essex Property Trust had a net margin of 28.95% and a return on equity of 6.58%. During the same period last year, the company earned $3.48 earnings per share. On average, research analysts expect that Essex Property Trust, Inc. will post 12.23 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 15th. Stockholders of record on Wednesday, June 30th will be paid a $2.09 dividend. The ex-dividend date is Tuesday, June 29th. This represents a $8.36 annualized dividend and a dividend yield of 2.67%. Essex Property Trust’s dividend payout ratio is presently 65.21%.

In other news, Director Thomas E. Robinson sold 2,838 shares of the firm’s stock in a transaction dated Wednesday, May 12th. The stock was sold at an average price of $280.32, for a total value of $795,548.16. Following the completion of the sale, the director now directly owns 7,383 shares in the company, valued at approximately $2,069,602.56. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 3.80% of the company’s stock.

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 246 apartment communities comprising approximately 60,000 apartment homes with an additional 6 properties in various stages of active development.

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Institutional Ownership by Quarter for Essex Property Trust (NYSE:ESS)

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