Yousif Capital Management LLC Lowers Stock Position in Essex Property Trust, Inc. (NYSE:ESS)

Yousif Capital Management LLC trimmed its holdings in shares of Essex Property Trust, Inc. (NYSE:ESS) by 4.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 34,846 shares of the real estate investment trust’s stock after selling 1,548 shares during the period. Yousif Capital Management LLC’s holdings in Essex Property Trust were worth $9,947,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the business. Sanctuary Advisors LLC acquired a new stake in Essex Property Trust during the 2nd quarter valued at $384,000. Czech National Bank lifted its position in Essex Property Trust by 6.9% during the 3rd quarter. Czech National Bank now owns 13,080 shares of the real estate investment trust’s stock worth $3,864,000 after acquiring an additional 845 shares in the last quarter. GAMMA Investing LLC boosted its stake in shares of Essex Property Trust by 20.9% in the third quarter. GAMMA Investing LLC now owns 1,097 shares of the real estate investment trust’s stock valued at $324,000 after purchasing an additional 190 shares during the period. Mather Group LLC. grew its stake in shares of Essex Property Trust by 7.4% during the third quarter. Mather Group LLC. now owns 781 shares of the real estate investment trust’s stock valued at $231,000 after acquiring an additional 54 shares in the last quarter. Finally, Atomi Financial Group Inc. acquired a new position in shares of Essex Property Trust in the 3rd quarter valued at approximately $204,000. 96.51% of the stock is owned by institutional investors and hedge funds.

Essex Property Trust Trading Up 3.2 %

Essex Property Trust stock opened at $296.24 on Thursday. 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 market capitalization of $19.04 billion, a price-to-earnings ratio of 34.61, a PEG ratio of 6.60 and a beta of 0.92. The company’s fifty day moving average price is $287.79 and its two-hundred day moving average price is $292.33. Essex Property Trust, Inc. has a one year low of $223.06 and a one year high of $317.73.

Essex Property Trust (NYSE:ESS) last announced its earnings results on Tuesday, February 4th. The real estate investment trust reported $3.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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, analysts forecast that Essex Property Trust, Inc. will post 15.58 earnings per share for the current fiscal year.

Essex Property Trust Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Thursday, January 2nd were issued a $2.45 dividend. The ex-dividend date of this dividend was Thursday, January 2nd. This represents a $9.80 annualized dividend and a yield of 3.31%. Essex Property Trust’s dividend payout ratio (DPR) is presently 114.49%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. Mizuho reduced their price target on shares of Essex Property Trust from $325.00 to $300.00 and set an “outperform” rating on the stock in a research report on Monday, January 6th. Deutsche Bank Aktiengesellschaft raised Essex Property Trust from a “hold” rating to a “buy” rating and increased their target price for the stock from $308.00 to $310.00 in a report on Tuesday, January 21st. Barclays lowered their price target on Essex Property Trust from $316.00 to $302.00 and set an “equal weight” rating for the company in a report on Friday, January 24th. Raymond James cut Essex Property Trust from an “outperform” rating to a “market perform” rating in a research note on Monday, October 21st. Finally, Wells Fargo & Company lowered their target price on shares of Essex Property Trust from $314.00 to $305.00 and set an “equal weight” rating for the company in a research note on Friday, January 24th. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, Essex Property Trust currently has an average rating of “Hold” and a consensus price target of $304.32.

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.