Metis Global Partners LLC Has $4.35 Million Stake in Essex Property Trust, Inc. (NYSE:ESS)

Metis Global Partners LLC increased its stake in shares of Essex Property Trust, Inc. (NYSE:ESS) by 6.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,230 shares of the real estate investment trust’s stock after buying an additional 988 shares during the quarter. Metis Global Partners LLC’s holdings in Essex Property Trust were worth $4,347,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Kestra Investment Management LLC acquired a new stake in shares of Essex Property Trust during the 4th quarter worth $25,000. Assetmark Inc. lifted its position in Essex Property Trust by 2,400.0% during the third quarter. Assetmark Inc. now owns 100 shares of the real estate investment trust’s stock worth $30,000 after purchasing an additional 96 shares during the period. Brooklyn Investment Group acquired a new stake in Essex Property Trust during the third quarter worth about $39,000. UMB Bank n.a. increased its holdings in Essex Property Trust by 37.5% in the 4th quarter. UMB Bank n.a. now owns 154 shares of the real estate investment trust’s stock valued at $44,000 after buying an additional 42 shares during the period. Finally, Newbridge Financial Services Group Inc. acquired a new position in shares of Essex Property Trust in the 4th quarter valued at approximately $45,000. Institutional investors own 96.51% of the company’s stock.

Essex Property Trust Stock Up 2.6 %

Shares of ESS opened at $311.80 on Friday. The stock’s 50-day moving average price is $286.44 and its two-hundred day moving average price is $293.82. Essex Property Trust, Inc. has a 12 month low of $226.84 and a 12 month high of $317.73. The company has a market capitalization of $20.06 billion, a PE ratio of 27.02, a PEG ratio of 6.84 and a beta of 0.92. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 1.15.

Essex Property Trust (NYSE:ESS) last announced its earnings results on Tuesday, February 4th. The real estate investment trust reported $3.92 EPS for the quarter, beating the consensus estimate of $1.40 by $2.52. Essex Property Trust had a return on equity of 13.05% and a net margin of 41.79%. On average, analysts anticipate that Essex Property Trust, Inc. will post 15.96 EPS for the current year.

Essex Property Trust Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be paid a dividend of $2.57 per share. This represents a $10.28 dividend on an annualized basis and a yield of 3.30%. The ex-dividend date is Monday, March 31st. This is an increase from Essex Property Trust’s previous quarterly dividend of $2.45. Essex Property Trust’s dividend payout ratio (DPR) is currently 89.08%.

Analyst Ratings Changes

Several analysts recently issued reports 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. Royal Bank of Canada lifted their price target on Essex Property Trust from $302.00 to $315.00 and gave the company an “outperform” rating in a research note on Thursday, February 6th. Evercore ISI upped their price objective on Essex Property Trust from $297.00 to $302.00 and gave the stock an “in-line” rating in a research report on Monday, February 10th. Deutsche Bank Aktiengesellschaft upgraded Essex Property Trust from a “hold” rating to a “buy” rating and lifted their target price for the company from $308.00 to $310.00 in a research report on Tuesday, January 21st. Finally, BMO Capital Markets raised shares of Essex Property Trust from a “market perform” rating to an “outperform” rating and dropped their target price for the stock from $323.00 to $310.00 in a report on Monday, January 13th. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $306.63.

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.