Essex Property Trust, Inc. (NYSE:ESS) Position Cut by Camelot Portfolios LLC

Camelot Portfolios LLC reduced its stake in shares of Essex Property Trust, Inc. (NYSE:ESS) by 5.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,083 shares of the real estate investment trust’s stock after selling 225 shares during the quarter. Essex Property Trust comprises about 1.3% of Camelot Portfolios LLC’s investment portfolio, making the stock its 21st largest holding. Camelot Portfolios LLC’s holdings in Essex Property Trust were worth $1,166,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also bought and sold shares of the stock. Nordea Investment Management AB grew its stake in shares of Essex Property Trust by 6.7% in the 4th quarter. Nordea Investment Management AB now owns 4,675 shares of the real estate investment trust’s stock worth $1,334,000 after purchasing an additional 294 shares during the last quarter. KBC Group NV grew its holdings in shares of Essex Property Trust by 162.7% during the 3rd quarter. KBC Group NV now owns 74,841 shares of the real estate investment trust’s stock valued at $22,109,000 after acquiring an additional 46,354 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd increased its position in Essex Property Trust by 5.3% in the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 19,656 shares of the real estate investment trust’s stock worth $5,611,000 after purchasing an additional 986 shares during the last quarter. Quadrature Capital Ltd acquired a new stake in Essex Property Trust in the third quarter valued at approximately $541,000. Finally, Mirae Asset Global Investments Co. Ltd. boosted its holdings in Essex Property Trust by 10.8% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 15,527 shares of the real estate investment trust’s stock worth $4,408,000 after purchasing an additional 1,516 shares in the last quarter. Institutional investors and hedge funds own 96.51% of the company’s stock.

Essex Property Trust Stock Up 0.0 %

Essex Property Trust stock opened at $294.47 on Friday. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 1.15. The firm has a market cap of $18.92 billion, a price-to-earnings ratio of 25.52, a PEG ratio of 6.77 and a beta of 0.92. The stock has a fifty day simple moving average of $285.01 and a two-hundred day simple moving average of $292.81. Essex Property Trust, Inc. has a 12 month low of $225.40 and a 12 month high of $317.73.

Essex Property Trust (NYSE:ESS) last released its earnings results 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%. Equities analysts predict that Essex Property Trust, Inc. will post 15.96 EPS for the current fiscal year.

Essex Property Trust Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be paid a $2.57 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $10.28 annualized dividend and a yield of 3.49%. This is an increase from Essex Property Trust’s previous quarterly dividend of $2.45. Essex Property Trust’s dividend payout ratio (DPR) is presently 84.92%.

Analysts Set New Price Targets

ESS has been the topic of several research analyst reports. JMP Securities reaffirmed a “market perform” rating on shares of Essex Property Trust in a research report on Thursday, February 6th. JPMorgan Chase & Co. lowered Essex Property Trust from a “neutral” rating to an “underweight” rating and upped their price objective for the company from $297.00 to $303.00 in a research note on Tuesday, December 17th. Evercore ISI lifted their price target on shares of Essex Property Trust from $297.00 to $302.00 and gave the company an “in-line” rating in a report on Monday, February 10th. Deutsche Bank Aktiengesellschaft raised Essex Property Trust from a “hold” rating to a “buy” rating and lifted their price target for the company from $308.00 to $310.00 in a report on Tuesday, January 21st. Finally, Barclays lifted their target price on Essex Property Trust from $302.00 to $304.00 and gave the company an “equal weight” rating in a research note on Wednesday. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, Essex Property Trust presently has an average rating of “Hold” and a consensus price target of $306.63.

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.