Coldstream Capital Management Inc. Purchases 145 Shares of Essex Property Trust, Inc. (NYSE:ESS)

Coldstream Capital Management Inc. increased its position in Essex Property Trust, Inc. (NYSE:ESS) by 15.6% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 1,074 shares of the real estate investment trust’s stock after buying an additional 145 shares during the quarter. Coldstream Capital Management Inc.’s holdings in Essex Property Trust were worth $319,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Continuum Advisory LLC lifted its holdings in shares of Essex Property Trust by 214.3% in the 2nd quarter. Continuum Advisory LLC now owns 110 shares of the real estate investment trust’s stock worth $30,000 after acquiring an additional 75 shares during the last quarter. UMB Bank n.a. lifted its stake in Essex Property Trust by 600.0% in the second quarter. UMB Bank n.a. now owns 112 shares of the real estate investment trust’s stock worth $30,000 after purchasing an additional 96 shares during the last quarter. Assetmark Inc. boosted 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 valued at $30,000 after buying an additional 96 shares during the period. Family Firm Inc. bought a new position in shares of Essex Property Trust during the second quarter valued at about $31,000. Finally, Brooklyn Investment Group bought a new position in shares of Essex Property Trust during the third quarter valued at about $39,000. Hedge funds and other institutional investors own 96.51% of the company’s stock.

Essex Property Trust Stock Down 0.8 %

ESS stock opened at $299.79 on Monday. The company has a market capitalization of $19.27 billion, a price-to-earnings ratio of 35.02, a price-to-earnings-growth ratio of 5.86 and a beta of 0.90. The company has a debt-to-equity ratio of 1.13, a quick ratio of 1.14 and a current ratio of 1.14. The business’s 50 day moving average price is $298.08 and its two-hundred day moving average price is $290.09. Essex Property Trust, Inc. has a fifty-two week low of $223.06 and a fifty-two week high of $317.73.

Essex Property Trust (NYSE:ESS) last posted its quarterly earnings data on Tuesday, October 29th. The real estate investment trust reported $1.84 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.88 by ($2.04). Essex Property Trust had a return on equity of 9.72% and a net margin of 31.55%. The firm had revenue of $450.70 million during the quarter, compared to the consensus estimate of $445.88 million. During the same quarter last year, the company posted $3.78 EPS. As a group, analysts forecast that Essex Property Trust, Inc. will post 15.56 earnings per share for the current fiscal year.

Essex Property Trust Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Thursday, January 2nd will be paid a dividend of $2.45 per share. This represents a $9.80 annualized dividend and a yield of 3.27%. The ex-dividend date is Thursday, January 2nd. Essex Property Trust’s payout ratio is currently 114.49%.

Wall Street Analyst Weigh In

ESS has been the subject of several analyst reports. BNP Paribas began coverage on Essex Property Trust in a report on Wednesday, September 11th. They set an “outperform” rating and a $333.00 target price for the company. Scotiabank increased their price objective on Essex Property Trust from $309.00 to $329.00 and gave the company a “sector outperform” rating in a research note on Monday, September 16th. Truist Financial lifted their target price on shares of Essex Property Trust from $282.00 to $294.00 and gave the stock a “hold” rating in a research note on Tuesday, August 27th. The Goldman Sachs Group started coverage on shares of Essex Property Trust in a research report on Wednesday, September 4th. They set a “neutral” rating and a $318.00 price target for the company. Finally, Wells Fargo & Company boosted their price objective on shares of Essex Property Trust from $269.00 to $314.00 and gave the company an “equal weight” rating in a research report on Monday, August 26th. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $297.00.

Insiders Place Their Bets

In other Essex Property Trust news, Director Amal M. Johnson sold 7,298 shares of the business’s stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $316.31, for a total value of $2,308,430.38. Following the sale, the director now directly owns 2,585 shares of the company’s stock, valued at approximately $817,661.35. The trade was a 73.84 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 3.80% of the company’s stock.

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.