Tidal Investments LLC Has $974,000 Position in Essex Property Trust, Inc. (NYSE:ESS)

Tidal Investments LLC lifted its stake in shares of Essex Property Trust, Inc. (NYSE:ESS) by 99.9% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 3,297 shares of the real estate investment trust’s stock after buying an additional 1,648 shares during the quarter. Tidal Investments LLC’s holdings in Essex Property Trust were worth $974,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. KBC Group NV lifted its position in Essex Property Trust by 162.7% during the third quarter. KBC Group NV now owns 74,841 shares of the real estate investment trust’s stock worth $22,109,000 after acquiring an additional 46,354 shares during the last quarter. Quadrature Capital Ltd bought a new position in shares of Essex Property Trust during the third quarter worth approximately $541,000. Federated Hermes Inc. increased its stake in shares of Essex Property Trust by 237.7% during the second quarter. Federated Hermes Inc. now owns 2,502 shares of the real estate investment trust’s stock worth $681,000 after purchasing an additional 1,761 shares during the period. ING Groep NV lifted its holdings in Essex Property Trust by 54.2% during the 3rd quarter. ING Groep NV now owns 8,587 shares of the real estate investment trust’s stock worth $2,537,000 after purchasing an additional 3,018 shares during the last quarter. Finally, Cerity Partners LLC boosted its stake in Essex Property Trust by 74.7% in the 3rd quarter. Cerity Partners LLC now owns 4,019 shares of the real estate investment trust’s stock valued at $1,187,000 after purchasing an additional 1,719 shares during the period. Institutional investors own 96.51% of the company’s stock.

Analyst Ratings Changes

ESS has been the topic of several recent research reports. Evercore ISI increased their price objective on Essex Property Trust from $283.00 to $287.00 and gave the stock an “in-line” rating in a research report on Monday, September 16th. BNP Paribas began coverage on shares of Essex Property Trust in a research report on Wednesday, September 11th. They set an “outperform” rating and a $333.00 price target on the stock. Bank of America downgraded shares of Essex Property Trust from a “buy” rating to a “neutral” rating and boosted their price objective for the company from $307.00 to $321.00 in a report on Tuesday, September 24th. Scotiabank raised their target price on shares of Essex Property Trust from $309.00 to $329.00 and gave the stock a “sector outperform” rating in a report on Monday, September 16th. Finally, Barclays started coverage on Essex Property Trust in a research note on Tuesday. They issued an “equal weight” rating and a $316.00 price target for the company. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $302.11.

Essex Property Trust Price Performance

ESS stock opened at $279.01 on Friday. The stock has a market cap of $17.93 billion, a price-to-earnings ratio of 32.59, a P/E/G ratio of 5.86 and a beta of 0.90. The company has a debt-to-equity ratio of 1.13, a current ratio of 1.14 and a quick ratio of 1.14. The company has a 50 day simple moving average of $298.21 and a 200 day simple moving average of $290.52. Essex Property Trust, Inc. has a 1 year low of $223.06 and a 1 year high of $317.73.

Essex Property Trust (NYSE:ESS) last announced its quarterly earnings results on Tuesday, October 29th. The real estate investment trust reported $1.84 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.88 by ($2.04). Essex Property Trust had a return on equity of 9.72% and a net margin of 31.55%. The company had revenue of $450.70 million for the quarter, compared to analyst estimates of $445.88 million. During the same quarter last year, the company posted $3.78 earnings per share. Research analysts anticipate that Essex Property Trust, Inc. will post 15.56 EPS for the current fiscal year.

Essex Property Trust Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Thursday, January 2nd will be given a $2.45 dividend. The ex-dividend date is Thursday, January 2nd. This represents a $9.80 annualized dividend and a yield of 3.51%. Essex Property Trust’s dividend payout ratio is presently 114.49%.

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 252 apartment communities comprising approximately 62,000 apartment homes with an additional property in active development.