Diversify Advisory Services LLC Sells 4,331 Shares of Essex Property Trust, Inc. (NYSE:ESS)

Diversify Advisory Services LLC reduced its position in Essex Property Trust, Inc. (NYSE:ESS) by 45.0% in the fourth quarter, Holdings Channel.com reports. The fund owned 5,299 shares of the real estate investment trust’s stock after selling 4,331 shares during the quarter. Diversify Advisory Services LLC’s holdings in Essex Property Trust were worth $1,441,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Diversify Wealth Management LLC boosted its position in shares of Essex Property Trust by 77.9% during the 4th quarter. Diversify Wealth Management LLC now owns 13,528 shares of the real estate investment trust’s stock valued at $3,678,000 after acquiring an additional 5,924 shares during the last quarter. LVW Advisors LLC purchased a new stake in Essex Property Trust in the fourth quarter valued at approximately $252,000. Aaron Wealth Advisors LLC lifted its position in Essex Property Trust by 15.7% during the fourth quarter. Aaron Wealth Advisors LLC now owns 1,236 shares of the real estate investment trust’s stock valued at $353,000 after purchasing an additional 168 shares during the last quarter. Kera Capital Partners Inc. purchased a new position in Essex Property Trust in the 4th quarter worth approximately $258,000. Finally, Avanza Fonder AB purchased a new position in Essex Property Trust in the 4th quarter worth approximately $1,443,000. Hedge funds and other institutional investors own 96.51% of the company’s stock.

Essex Property Trust Price Performance

Shares of ESS stock opened at $283.20 on Tuesday. Essex Property Trust, Inc. has a twelve month low of $223.06 and a twelve month high of $317.73. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 1.13. The stock has a fifty day simple moving average of $293.18 and a two-hundred day simple moving average of $291.96. The stock has a market capitalization of $18.20 billion, a price-to-earnings ratio of 33.08, a P/E/G ratio of 5.21 and a beta of 0.92.

Essex Property Trust (NYSE:ESS) last issued its quarterly earnings data 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 net margin of 31.55% and a return on equity of 9.72%. The business had revenue of $450.70 million for the quarter, compared to analysts’ expectations of $445.88 million. During the same period in the previous year, the business earned $3.78 earnings per share. On average, analysts predict that Essex Property Trust, Inc. will post 15.58 EPS for the current fiscal year.

Essex Property Trust Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Thursday, January 2nd were issued a dividend of $2.45 per share. The ex-dividend date of this dividend was Thursday, January 2nd. This represents a $9.80 annualized dividend and a dividend yield of 3.46%. Essex Property Trust’s dividend payout ratio is presently 114.49%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on ESS. BMO Capital Markets raised Essex Property Trust from a “market perform” rating to an “outperform” rating and dropped their price target for the stock from $323.00 to $310.00 in a research note on Monday, January 13th. Bank of America downgraded Essex Property Trust from a “buy” rating to a “neutral” rating and boosted their target price for the stock from $307.00 to $321.00 in a research report on Tuesday, September 24th. 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. Raymond James downgraded shares of Essex Property Trust from an “outperform” rating to a “market perform” rating in a research note on Monday, October 21st. Finally, Barclays began coverage on shares of Essex Property Trust in a research note on Tuesday, December 17th. They issued an “equal weight” rating and a $316.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $305.42.

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.