New Mexico Educational Retirement Board Has $920,000 Stake in Essex Property Trust, Inc. (NYSE:ESS)

New Mexico Educational Retirement Board decreased its stake in Essex Property Trust, Inc. (NYSE:ESS) by 3.2% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,000 shares of the real estate investment trust’s stock after selling 100 shares during the quarter. New Mexico Educational Retirement Board’s holdings in Essex Property Trust were worth $920,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the stock. Greenleaf Trust boosted its stake in Essex Property Trust by 5.6% in the 1st quarter. Greenleaf Trust now owns 1,001 shares of the real estate investment trust’s stock valued at $307,000 after buying an additional 53 shares in the last quarter. Alpha Cubed Investments LLC boosted its stake in Essex Property Trust by 6.4% in the first quarter. Alpha Cubed Investments LLC now owns 1,308 shares of the real estate investment trust’s stock worth $401,000 after purchasing an additional 79 shares in the last quarter. Crossmark Global Holdings Inc. boosted its stake in Essex Property Trust by 14.5% in the first quarter. Crossmark Global Holdings Inc. now owns 2,025 shares of the real estate investment trust’s stock worth $621,000 after purchasing an additional 257 shares in the last quarter. U.S. Capital Wealth Advisors LLC acquired a new position in Essex Property Trust in the first quarter worth $229,000. Finally, Concurrent Investment Advisors LLC boosted its stake in Essex Property Trust by 144.7% in the first quarter. Concurrent Investment Advisors LLC now owns 1,911 shares of the real estate investment trust’s stock worth $586,000 after purchasing an additional 1,130 shares in the last quarter. Institutional investors and hedge funds own 96.51% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on ESS shares. Wall Street Zen lowered Essex Property Trust from a “hold” rating to a “sell” rating in a research note on Saturday, July 5th. Raymond James Financial raised Essex Property Trust from a “market perform” rating to an “outperform” rating and set a $315.00 price objective on the stock in a research note on Tuesday, June 24th. Barclays boosted their price objective on Essex Property Trust from $303.00 to $328.00 and gave the stock an “equal weight” rating in a research note on Friday, May 9th. Mizuho reduced their price objective on Essex Property Trust from $314.00 to $293.00 and set an “outperform” rating on the stock in a research note on Friday, May 23rd. Finally, Piper Sandler reissued an “overweight” rating and issued a $355.00 price objective (down previously from $370.00) on shares of Essex Property Trust in a research note on Friday, May 23rd. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $310.28.

Essex Property Trust Trading Down 0.1%

NYSE ESS opened at $286.54 on Friday. The stock has a 50-day simple moving average of $283.22 and a 200 day simple moving average of $285.71. The company has a market capitalization of $18.45 billion, a PE ratio of 27.42, a P/E/G ratio of 5.98 and a beta of 0.78. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 1.18. Essex Property Trust, Inc. has a 12 month low of $243.85 and a 12 month high of $317.73.

Essex Property Trust (NYSE:ESS) last released its quarterly earnings data on Tuesday, April 29th. The real estate investment trust reported $3.97 EPS for the quarter, beating analysts’ consensus estimates of $3.92 by $0.05. The business had revenue of $464.58 million during the quarter, compared to the consensus estimate of $458.03 million. Essex Property Trust had a return on equity of 11.81% and a net margin of 37.08%. During the same quarter in the prior year, the company posted $3.83 earnings per share. Research analysts forecast that Essex Property Trust, Inc. will post 15.96 EPS for the current year.

Essex Property Trust Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 30th will be issued a $2.57 dividend. The ex-dividend date of this dividend is Monday, June 30th. This represents a $10.28 dividend on an annualized basis and a yield of 3.59%. Essex Property Trust’s dividend payout ratio is presently 98.37%.

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.