ORG Wealth Partners LLC Has $622,000 Position in Essex Property Trust, Inc. (NYSE:ESS)

ORG Wealth Partners LLC boosted its holdings in Essex Property Trust, Inc. (NYSE:ESS) by 3.1% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,037 shares of the real estate investment trust’s stock after buying an additional 61 shares during the period. ORG Wealth Partners LLC’s holdings in Essex Property Trust were worth $622,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Kestra Investment Management LLC acquired a new position in Essex Property Trust in the fourth quarter valued at approximately $25,000. Ameriflex Group Inc. acquired a new position in Essex Property Trust in the fourth quarter valued at approximately $59,000. Jones Financial Companies Lllp lifted its holdings in Essex Property Trust by 486.8% in the fourth quarter. Jones Financial Companies Lllp now owns 223 shares of the real estate investment trust’s stock valued at $64,000 after buying an additional 185 shares during the period. Assetmark Inc. lifted its holdings in Essex Property Trust by 124.0% in the fourth quarter. Assetmark Inc. now owns 224 shares of the real estate investment trust’s stock valued at $64,000 after buying an additional 124 shares during the period. Finally, Huntington National Bank raised its holdings in Essex Property Trust by 85.2% in the fourth quarter. Huntington National Bank now owns 300 shares of the real estate investment trust’s stock worth $86,000 after purchasing an additional 138 shares during the period. 96.51% of the stock is currently owned by institutional investors and hedge funds.

Essex Property Trust Price Performance

NYSE:ESS opened at $283.88 on Thursday. Essex Property Trust, Inc. has a 52-week low of $243.85 and a 52-week high of $317.73. The company has a market cap of $18.28 billion, a P/E ratio of 27.17, a P/E/G ratio of 5.92 and a beta of 0.78. The company has a debt-to-equity ratio of 1.18, a quick ratio of 1.04 and a current ratio of 1.04. The stock’s 50-day simple moving average is $279.99 and its 200 day simple moving average is $286.89.

Essex Property Trust (NYSE:ESS) last posted its quarterly earnings results on Tuesday, April 29th. The real estate investment trust reported $3.97 earnings per share for the quarter, beating analysts’ consensus estimates of $3.92 by $0.05. The firm 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 period last year, the company earned $3.83 earnings per share. As a group, sell-side analysts forecast that Essex Property Trust, Inc. will post 15.96 EPS for the current fiscal 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 paid a dividend of $2.57 per share. The ex-dividend date is Monday, June 30th. This represents a $10.28 annualized dividend and a dividend yield of 3.62%. Essex Property Trust’s dividend payout ratio is presently 98.37%.

Wall Street Analyst Weigh In

ESS has been the topic of several analyst reports. BMO Capital Markets increased their target price on shares of Essex Property Trust from $315.00 to $317.00 and gave the stock an “outperform” rating in a report on Wednesday, May 28th. Mizuho cut their target price on shares of Essex Property Trust from $314.00 to $293.00 and set an “outperform” rating on the stock in a report on Friday, May 23rd. Piper Sandler reiterated an “overweight” rating and issued a $355.00 target price (down from $370.00) on shares of Essex Property Trust in a report on Friday, May 23rd. Barclays increased their target price on shares of Essex Property Trust from $303.00 to $328.00 and gave the stock an “equal weight” rating in a report on Friday, May 9th. Finally, Royal Bank Of Canada cut their target price on shares of Essex Property Trust from $311.00 to $309.00 and set an “outperform” rating on the stock in a report on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $310.83.

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.