Essex Property Trust, Inc. (NYSE:ESS) Stake Lifted by Montag A & Associates Inc.

Montag A & Associates Inc. raised its stake in Essex Property Trust, Inc. (NYSE:ESS) by 9.5% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 12,139 shares of the real estate investment trust’s stock after buying an additional 1,053 shares during the quarter. Montag A & Associates Inc.’s holdings in Essex Property Trust were worth $3,465,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently modified their holdings of the company. ABC Arbitrage SA bought a new stake in Essex Property Trust in the 4th quarter valued at about $2,082,000. Asset Management One Co. Ltd. boosted its position in shares of Essex Property Trust by 0.3% during the fourth quarter. Asset Management One Co. Ltd. now owns 132,317 shares of the real estate investment trust’s stock worth $37,635,000 after buying an additional 416 shares during the period. Consolidated Planning Corp boosted its position in shares of Essex Property Trust by 30.8% during the fourth quarter. Consolidated Planning Corp now owns 2,083 shares of the real estate investment trust’s stock worth $595,000 after buying an additional 491 shares during the period. Certuity LLC bought a new position in Essex Property Trust in the 4th quarter worth approximately $225,000. Finally, Ferguson Wellman Capital Management Inc. acquired a new stake in Essex Property Trust in the 4th quarter valued at approximately $208,000. Institutional investors and hedge funds own 96.51% of the company’s stock.

Essex Property Trust Price Performance

ESS stock opened at $288.09 on Friday. The firm has a 50-day moving average of $285.71 and a two-hundred day moving average of $292.55. The firm has a market capitalization of $18.52 billion, a PE ratio of 24.96, a P/E/G ratio of 6.93 and a beta of 0.92. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 1.15. Essex Property Trust, Inc. has a one year low of $225.40 and a one year high of $317.73.

Essex Property Trust (NYSE:ESS) last posted its quarterly earnings data on Tuesday, February 4th. The real estate investment trust reported $3.92 EPS for the quarter, topping analysts’ consensus estimates of $1.40 by $2.52. Essex Property Trust had a net margin of 41.79% and a return on equity of 13.05%. On average, analysts forecast that Essex Property Trust, Inc. will post 15.96 earnings per share for the current year.

Essex Property Trust Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Thursday, January 2nd were given a dividend of $2.45 per share. This represents a $9.80 annualized dividend and a yield of 3.40%. The ex-dividend date was Thursday, January 2nd. Essex Property Trust’s payout ratio is 84.92%.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on ESS shares. Deutsche Bank Aktiengesellschaft raised Essex Property Trust from a “hold” rating to a “buy” rating and increased their price target for the stock from $308.00 to $310.00 in a research note on Tuesday, January 21st. JPMorgan Chase & Co. downgraded shares of Essex Property Trust from a “neutral” rating to an “underweight” rating and boosted their price target for the stock from $297.00 to $303.00 in a research report on Tuesday, December 17th. Royal Bank of Canada upped their price target on shares of Essex Property Trust from $302.00 to $315.00 and gave the stock an “outperform” rating in a research note on Thursday, February 6th. Raymond James lowered shares of Essex Property Trust from an “outperform” rating to a “market perform” rating in a research note on Monday, October 21st. Finally, Barclays decreased their price target on 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. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, Essex Property Trust currently has an average rating of “Hold” and an average price target of $306.53.

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.