Perigon Wealth Management LLC Buys 44 Shares of Essex Property Trust, Inc. (NYSE:ESS)

Perigon Wealth Management LLC boosted its holdings in Essex Property Trust, Inc. (NYSE:ESS) by 0.2% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 27,442 shares of the real estate investment trust’s stock after purchasing an additional 44 shares during the quarter. Perigon Wealth Management LLC’s holdings in Essex Property Trust were worth $8,413,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of ESS. Norges Bank acquired a new stake in Essex Property Trust in the 4th quarter worth about $471,258,000. Wealthquest Corp acquired a new stake in Essex Property Trust in the 1st quarter worth about $384,606,000. GAMMA Investing LLC raised its stake in Essex Property Trust by 35,500.1% in the 1st quarter. GAMMA Investing LLC now owns 448,205 shares of the real estate investment trust’s stock worth $137,406,000 after purchasing an additional 446,946 shares in the last quarter. Northern Trust Corp raised its stake in Essex Property Trust by 56.0% in the 4th quarter. Northern Trust Corp now owns 1,127,830 shares of the real estate investment trust’s stock worth $321,928,000 after purchasing an additional 404,892 shares in the last quarter. Finally, Balyasny Asset Management L.P. raised its stake in Essex Property Trust by 64.0% in the 4th quarter. Balyasny Asset Management L.P. now owns 570,786 shares of the real estate investment trust’s stock worth $162,925,000 after purchasing an additional 222,713 shares in the last quarter. Institutional investors and hedge funds own 96.51% of the company’s stock.

Wall Street Analyst Weigh In

ESS has been the subject of several analyst reports. BMO Capital Markets lifted 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 lifted 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. Mizuho dropped their target price on shares of Essex Property Trust from $314.00 to $293.00 and set an “outperform” rating for the company in a research report on Friday, May 23rd. Royal Bank Of Canada dropped their target price on shares of Essex Property Trust from $311.00 to $309.00 and set an “outperform” rating for the company in a research report on Thursday, May 1st. Finally, Scotiabank restated an “outperform” rating on shares of Essex Property Trust in a research report on Friday, June 13th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $310.28.

Essex Property Trust Trading Down 1.3%

Shares of Essex Property Trust stock opened at $282.23 on Thursday. The firm has a market capitalization of $18.17 billion, a PE ratio of 27.01, a price-to-earnings-growth ratio of 5.97 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. The firm’s 50 day moving average is $281.53 and its 200 day moving average is $286.32. Essex Property Trust, Inc. has a 1 year low of $243.85 and a 1 year high of $317.73.

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

Essex Property Trust Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 30th will be issued a dividend of $2.57 per share. This represents a $10.28 annualized dividend and a dividend yield of 3.64%. The ex-dividend date of this dividend is Monday, June 30th. Essex Property Trust’s dividend payout ratio (DPR) 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.