Entropy Technologies LP Raises Holdings in Essex Property Trust, Inc. (NYSE:ESS)

Entropy Technologies LP boosted its stake in shares of Essex Property Trust, Inc. (NYSE:ESS) by 296.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 9,686 shares of the real estate investment trust’s stock after purchasing an additional 7,244 shares during the quarter. Entropy Technologies LP’s holdings in Essex Property Trust were worth $2,765,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the stock. Assetmark Inc. boosted its position in shares of Essex Property Trust by 2,400.0% during the 3rd quarter. Assetmark Inc. now owns 100 shares of the real estate investment trust’s stock worth $30,000 after acquiring an additional 96 shares in the last quarter. Brooklyn Investment Group acquired a new position in shares of Essex Property Trust during the 3rd quarter worth about $39,000. UMB Bank n.a. boosted its position in shares of Essex Property Trust by 37.5% during the 4th quarter. UMB Bank n.a. now owns 154 shares of the real estate investment trust’s stock worth $44,000 after acquiring an additional 42 shares in the last quarter. Continuum Advisory LLC boosted its position in shares of Essex Property Trust by 104.5% during the 3rd quarter. Continuum Advisory LLC now owns 225 shares of the real estate investment trust’s stock worth $68,000 after acquiring an additional 115 shares in the last quarter. Finally, Sentry Investment Management LLC acquired a new position in shares of Essex Property Trust during the 3rd quarter worth about $89,000. Hedge funds and other institutional investors own 96.51% of the company’s stock.

Essex Property Trust Price Performance

Shares of NYSE:ESS opened at $291.91 on Friday. The business’s fifty day moving average price is $286.78 and its two-hundred day moving average price is $292.41. The stock has a market cap of $18.76 billion, a PE ratio of 25.30, a price-to-earnings-growth ratio of 6.93 and a beta of 0.92. The company has a debt-to-equity ratio of 1.15, a quick ratio of 1.14 and a current ratio of 1.14. Essex Property Trust, Inc. has a one year low of $223.06 and a one year high of $317.73.

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 analysts’ consensus estimates 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 forecast that Essex Property Trust, Inc. will post 15.96 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. This represents a $9.80 annualized dividend and a dividend yield of 3.36%. The ex-dividend date was Thursday, January 2nd. Essex Property Trust’s dividend payout ratio (DPR) is 84.92%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Wells Fargo & Company lowered their price objective on Essex Property Trust from $314.00 to $305.00 and set an “equal weight” rating for the company in a research report on Friday, January 24th. JPMorgan Chase & Co. cut Essex Property Trust from a “neutral” rating to an “underweight” rating and upped their target price for the company from $297.00 to $303.00 in a research report on Tuesday, December 17th. JMP Securities reissued a “market perform” rating on shares of Essex Property Trust in a research report on Thursday. Mizuho decreased their target price on Essex Property Trust from $325.00 to $300.00 and set an “outperform” rating for the company in a research report on Monday, January 6th. Finally, Raymond James cut Essex Property Trust from an “outperform” rating to a “market perform” rating in a research report on Monday, October 21st. 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 company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $305.74.

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.