Aaron Wealth Advisors LLC Sells 201 Shares of Essex Property Trust, Inc. (NYSE:ESS)

Aaron Wealth Advisors LLC trimmed its holdings in shares of Essex Property Trust, Inc. (NYSE:ESS) by 16.3% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,035 shares of the real estate investment trust’s stock after selling 201 shares during the quarter. Aaron Wealth Advisors LLC’s holdings in Essex Property Trust were worth $317,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Ameriflex Group Inc. acquired a new stake in Essex Property Trust during the fourth quarter worth about $59,000. Assetmark Inc. grew its stake in Essex Property Trust by 124.0% during the fourth quarter. Assetmark Inc. now owns 224 shares of the real estate investment trust’s stock worth $64,000 after buying an additional 124 shares in the last quarter. Jones Financial Companies Lllp grew its stake in Essex Property Trust by 486.8% during the fourth quarter. Jones Financial Companies Lllp now owns 223 shares of the real estate investment trust’s stock worth $64,000 after buying an additional 185 shares in the last quarter. Alpine Bank Wealth Management acquired a new stake in Essex Property Trust during the first quarter worth about $82,000. Finally, Huntington National Bank grew its stake in Essex Property Trust by 85.2% during the fourth quarter. Huntington National Bank now owns 300 shares of the real estate investment trust’s stock worth $86,000 after buying an additional 138 shares in the last quarter. 96.51% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Piper Sandler reiterated an “overweight” rating and set a $355.00 price objective (down from $370.00) on shares of Essex Property Trust in a research note on Friday, May 23rd. BMO Capital Markets increased their price objective on shares of Essex Property Trust from $315.00 to $317.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 28th. Truist Financial increased their price objective on shares of Essex Property Trust from $292.00 to $304.00 and gave the stock a “hold” rating in a research note on Monday, March 10th. Wall Street Zen downgraded shares of Essex Property Trust from a “hold” rating to a “sell” rating in a research note on Friday, June 27th. Finally, Royal Bank Of Canada reduced their price objective on shares of Essex Property Trust from $311.00 to $309.00 and set an “outperform” rating on the stock in a research note on Thursday, May 1st. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $310.28.

Essex Property Trust Stock Up 0.3%

NYSE:ESS opened at $284.20 on Friday. The firm’s 50 day simple moving average is $282.65 and its 200 day simple moving average is $285.71. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.04 and a quick ratio of 1.04. Essex Property Trust, Inc. has a one year low of $243.85 and a one year high of $317.73. The company has a market cap of $18.30 billion, a PE ratio of 27.20, a P/E/G ratio of 5.91 and a beta of 0.78.

Essex Property Trust (NYSE:ESS) last posted its earnings results on Tuesday, April 29th. The real estate investment trust reported $3.97 EPS for the quarter, topping the consensus estimate of $3.92 by $0.05. Essex Property Trust had a net margin of 37.08% and a return on equity of 11.81%. The business had revenue of $464.58 million for the quarter, compared to the consensus estimate of $458.03 million. During the same period last year, the company earned $3.83 EPS. On average, research analysts anticipate that Essex Property Trust, Inc. will post 15.96 earnings per share for the current year.

Essex Property Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th will be given a dividend of $2.57 per share. This represents a $10.28 annualized dividend and a dividend yield of 3.62%. The ex-dividend date of this dividend is Monday, June 30th. Essex Property Trust’s dividend payout ratio (DPR) is presently 98.37%.

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.