Essex Property Trust, Inc. (NYSE:ESS) Stake Lessened by Muzinich & Co. Inc.

Muzinich & Co. Inc. lowered its holdings in Essex Property Trust, Inc. (NYSE:ESS) by 66.8% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 159 shares of the real estate investment trust’s stock after selling 320 shares during the period. Muzinich & Co. Inc.’s holdings in Essex Property Trust were worth $48,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in ESS. Principal Financial Group Inc. increased its stake in shares of Essex Property Trust by 1.5% in the first quarter. Principal Financial Group Inc. now owns 2,873,742 shares of the real estate investment trust’s stock worth $781,199,000 after acquiring an additional 41,699 shares during the last quarter. Brinker Capital Investments LLC acquired a new position in shares of Essex Property Trust in the first quarter worth $331,000. Quilter Plc increased its stake in shares of Essex Property Trust by 1.0% in the first quarter. Quilter Plc now owns 34,476 shares of the real estate investment trust’s stock worth $9,372,000 after acquiring an additional 345 shares during the last quarter. Quadrant Capital Group LLC increased its stake in shares of Essex Property Trust by 33.2% in the first quarter. Quadrant Capital Group LLC now owns 562 shares of the real estate investment trust’s stock worth $153,000 after acquiring an additional 140 shares during the last quarter. Finally, Prudential Financial Inc. increased its position in Essex Property Trust by 346.4% during the first quarter. Prudential Financial Inc. now owns 290,696 shares of the real estate investment trust’s stock worth $79,023,000 after buying an additional 225,575 shares during the last quarter. Institutional investors own 92.48% of the company’s stock.

Several equities analysts have commented on ESS shares. KeyCorp increased their target price on shares of Essex Property Trust from $341.00 to $349.00 and gave the stock an “overweight” rating in a research report on Tuesday. Raymond James raised shares of Essex Property Trust from an “underperform” rating to a “market perform” rating in a research report on Monday, July 19th. JPMorgan Chase & Co. raised shares of Essex Property Trust from a “neutral” rating to an “overweight” rating and set a $359.00 target price on the stock in a research report on Thursday, October 7th. Truist Securities increased their target price on shares of Essex Property Trust from $327.00 to $337.00 and gave the stock a “buy” rating in a research report on Wednesday, August 25th. Finally, The Goldman Sachs Group started coverage on shares of Essex Property Trust in a research report on Thursday, September 23rd. They set a “sell” rating and a $325.00 target price on the stock. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $323.22.

Shares of NYSE ESS traded up $2.92 during mid-day trading on Thursday, hitting $336.08. The company had a trading volume of 2,127 shares, compared to its average volume of 360,193. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.86 and a quick ratio of 1.86. The business’s 50-day simple moving average is $324.53 and its 200-day simple moving average is $309.61. Essex Property Trust, Inc. has a 12 month low of $186.30 and a 12 month high of $337.43. The firm has a market cap of $21.86 billion, a P/E ratio of 53.82, a PEG ratio of 8.74 and a beta of 0.73.

Essex Property Trust (NYSE:ESS) last released its earnings results on Thursday, July 29th. The real estate investment trust reported $1.00 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $2.99 by ($1.99). Essex Property Trust had a net margin of 27.99% and a return on equity of 6.32%. As a group, sell-side analysts predict that Essex Property Trust, Inc. will post 12.37 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, October 15th. Investors of record on Thursday, September 30th will be paid a $2.09 dividend. This represents a $8.36 annualized dividend and a dividend yield of 2.49%. The ex-dividend date of this dividend is Wednesday, September 29th. Essex Property Trust’s payout ratio is presently 65.21%.

In other Essex Property Trust news, Director Thomas E. Robinson sold 7,329 shares of the firm’s stock in a transaction dated Thursday, September 9th. The shares were sold at an average price of $330.76, for a total transaction of $2,424,140.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Thomas E. Robinson sold 2,500 shares of the firm’s stock in a transaction dated Tuesday, August 31st. The stock was sold at an average price of $329.30, for a total transaction of $823,250.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 26,570 shares of company stock valued at $8,770,152. 3.80% of the stock is owned by corporate insiders.

Essex Property Trust Company Profile

Essex Property Trust, Inc operates as a real estate investment trust. It engages in the ownership, operation, management, acquisition, development, and redevelopment of predominantly apartment communities. The company was founded by George M. Marcus in 1971 and is headquartered in San Mateo, CA.

See Also: Learning About the VIX – Volatility Index

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

Receive News & Ratings for Essex Property Trust Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Essex Property Trust and related companies with MarketBeat.com's FREE daily email newsletter.