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

Perigon Wealth Management LLC raised its holdings in Essex Property Trust, Inc. (NYSE:ESS) by 0.2% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 27,442 shares of the real estate investment trust’s stock after acquiring an additional 44 shares during the quarter. Perigon Wealth Management LLC’s holdings in Essex Property Trust were worth $8,413,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. DoubleLine ETF Adviser LP raised its holdings in shares of Essex Property Trust by 0.8% during the fourth quarter. DoubleLine ETF Adviser LP now owns 4,624 shares of the real estate investment trust’s stock worth $1,320,000 after acquiring an additional 38 shares during the period. Gen Wealth Partners Inc raised its holdings in shares of Essex Property Trust by 2.4% during the fourth quarter. Gen Wealth Partners Inc now owns 1,952 shares of the real estate investment trust’s stock worth $557,000 after acquiring an additional 45 shares during the period. US Bancorp DE raised its holdings in shares of Essex Property Trust by 1.2% during the fourth quarter. US Bancorp DE now owns 4,126 shares of the real estate investment trust’s stock worth $1,178,000 after acquiring an additional 49 shares during the period. CoreCap Advisors LLC raised its holdings in shares of Essex Property Trust by 17.7% during the fourth quarter. CoreCap Advisors LLC now owns 365 shares of the real estate investment trust’s stock worth $104,000 after acquiring an additional 55 shares during the period. Finally, Fifth Third Bancorp raised its holdings in shares of Essex Property Trust by 1.6% during the first quarter. Fifth Third Bancorp now owns 3,871 shares of the real estate investment trust’s stock worth $1,187,000 after acquiring an additional 61 shares during the period. 96.51% of the stock is owned by institutional investors.

Analyst Ratings Changes

ESS has been the subject of a number of analyst reports. Mizuho decreased 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. Piper Sandler reaffirmed an “overweight” rating and issued a $355.00 target price (down previously from $370.00) on shares of Essex Property Trust in a research report on Friday, May 23rd. Scotiabank reaffirmed an “outperform” rating on shares of Essex Property Trust in a research report on Friday, June 13th. Raymond James Financial raised shares of Essex Property Trust from a “market perform” rating to an “outperform” rating and set a $315.00 target price for the company in a research report on Tuesday. Finally, Royal Bank Of Canada decreased 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. One research analyst has rated the stock with a sell rating, ten have given a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, Essex Property Trust has a consensus rating of “Hold” and an average target price of $310.28.

Essex Property Trust Stock Performance

Shares of ESS opened at $282.23 on Thursday. The firm has a 50-day moving average of $281.53 and a 200-day moving average of $286.32. Essex Property Trust, Inc. has a one year low of $243.85 and a one year high of $317.73. The company has a market cap 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 debt-to-equity ratio of 1.18, a current ratio of 1.04 and a quick ratio of 1.04.

Essex Property Trust (NYSE:ESS) last announced its earnings results on Tuesday, April 29th. The real estate investment trust reported $3.97 EPS for the quarter, topping the consensus estimate 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 net margin of 37.08% and a return on equity of 11.81%. During the same quarter in the previous year, the firm posted $3.83 EPS. As a group, equities analysts forecast that Essex Property Trust, Inc. will post 15.96 earnings per share for the current year.

Essex Property Trust Dividend Announcement

The business also recently announced 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 is Monday, June 30th. Essex Property Trust’s payout ratio is 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.