Spirit of America Management Corp NY Buys 700 Shares of Essex Property Trust, Inc. (NYSE:ESS)

Spirit of America Management Corp NY raised its stake in shares of Essex Property Trust, Inc. (NYSE:ESS) by 10.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,236 shares of the real estate investment trust’s stock after acquiring an additional 700 shares during the period. Spirit of America Management Corp NY’s holdings in Essex Property Trust were worth $2,065,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Geode Capital Management LLC increased its position in shares of Essex Property Trust by 1.5% during the 3rd quarter. Geode Capital Management LLC now owns 1,726,072 shares of the real estate investment trust’s stock valued at $508,381,000 after purchasing an additional 25,591 shares during the last quarter. Massachusetts Financial Services Co. MA increased its position in shares of Essex Property Trust by 16.1% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,329,516 shares of the real estate investment trust’s stock valued at $392,766,000 after purchasing an additional 183,947 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Essex Property Trust by 6.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 754,179 shares of the real estate investment trust’s stock valued at $222,800,000 after purchasing an additional 47,114 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Essex Property Trust by 732.9% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 719,596 shares of the real estate investment trust’s stock valued at $212,583,000 after purchasing an additional 633,200 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. increased its position in shares of Essex Property Trust by 154.7% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 444,391 shares of the real estate investment trust’s stock valued at $131,282,000 after purchasing an additional 269,923 shares during the last quarter. 96.51% of the stock is currently owned by institutional investors.

Essex Property Trust Trading Up 1.1 %

Shares of ESS opened at $287.48 on Wednesday. The business’s 50-day moving average price is $288.23 and its 200-day moving average price is $292.31. Essex Property Trust, Inc. has a twelve month low of $223.06 and a twelve month high of $317.73. The stock has a market cap of $18.48 billion, a PE ratio of 33.58, a P/E/G ratio of 6.60 and a beta of 0.92. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 1.13.

Essex Property Trust (NYSE:ESS) last issued its quarterly earnings data on Tuesday, February 4th. The real estate investment trust reported $3.92 EPS for the quarter, topping the consensus estimate of $1.40 by $2.52. Essex Property Trust had a return on equity of 9.72% and a net margin of 31.55%. On average, equities analysts forecast that Essex Property Trust, Inc. will post 15.58 EPS for the current fiscal year.

Essex Property Trust Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Thursday, January 2nd were issued a dividend of $2.45 per share. This represents a $9.80 annualized dividend and a dividend yield of 3.41%. The ex-dividend date was Thursday, January 2nd. Essex Property Trust’s payout ratio is 114.49%.

Analyst Ratings Changes

Several brokerages have recently issued reports on ESS. Mizuho decreased their target price on Essex Property Trust from $325.00 to $300.00 and set an “outperform” rating for the company in a research report on Monday, January 6th. JPMorgan Chase & Co. lowered Essex Property Trust from a “neutral” rating to an “underweight” rating and raised their target price for the company from $297.00 to $303.00 in a research report on Tuesday, December 17th. JMP Securities reaffirmed a “market perform” rating on shares of Essex Property Trust in a research report on Thursday, January 16th. Wells Fargo & Company lowered their price objective on Essex Property Trust from $314.00 to $305.00 and set an “equal weight” rating on the stock in a research note on Friday, January 24th. Finally, BMO Capital Markets upgraded Essex Property Trust from a “market perform” rating to an “outperform” rating and lowered their price objective for the company from $323.00 to $310.00 in a research note on Monday, January 13th. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $304.32.

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.