Bruce G. Allen Investments LLC bought a new stake in Essex Property Trust, Inc. (NYSE:ESS – Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 164 shares of the real estate investment trust’s stock, valued at approximately $41,000.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Steward Partners Investment Advisory LLC increased its holdings in Essex Property Trust by 100.0% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 120 shares of the real estate investment trust’s stock worth $25,000 after buying an additional 60 shares during the last quarter. Clear Street Markets LLC increased its holdings in Essex Property Trust by 89.4% during the first quarter. Clear Street Markets LLC now owns 125 shares of the real estate investment trust’s stock worth $26,000 after buying an additional 59 shares during the last quarter. Pacific Center for Financial Services purchased a new stake in Essex Property Trust during the first quarter worth about $30,000. Advisory Services Network LLC purchased a new stake in Essex Property Trust during the first quarter worth about $32,000. Finally, Lazard Asset Management LLC increased its holdings in Essex Property Trust by 25.3% during the first quarter. Lazard Asset Management LLC now owns 243 shares of the real estate investment trust’s stock worth $83,000 after buying an additional 49 shares during the last quarter. Hedge funds and other institutional investors own 92.93% of the company’s stock.
Essex Property Trust Stock Up 1.9 %
Shares of NYSE ESS opened at $240.59 on Thursday. The company has a quick ratio of 3.26, a current ratio of 3.26 and a debt-to-equity ratio of 1.11. Essex Property Trust, Inc. has a 52 week low of $195.03 and a 52 week high of $252.85. The firm’s fifty day moving average is $236.61 and its 200 day moving average is $228.08. The company has a market cap of $15.45 billion, a price-to-earnings ratio of 38.13, a PEG ratio of 3.09 and a beta of 0.79.
Essex Property Trust Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, April 12th. Investors of record on Friday, March 29th will be paid a $2.45 dividend. This represents a $9.80 annualized dividend and a dividend yield of 4.07%. This is an increase from Essex Property Trust’s previous quarterly dividend of $2.31. The ex-dividend date is Wednesday, March 27th. Essex Property Trust’s payout ratio is presently 146.43%.
Analysts Set New Price Targets
A number of analysts recently issued reports on the stock. Truist Financial raised their price objective on shares of Essex Property Trust from $260.00 to $276.00 and gave the stock a “hold” rating in a report on Tuesday, January 16th. Morgan Stanley increased their target price on shares of Essex Property Trust from $227.00 to $230.00 and gave the stock an “equal weight” rating in a research report on Monday, February 26th. StockNews.com lowered shares of Essex Property Trust from a “hold” rating to a “sell” rating in a research report on Tuesday, February 27th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Essex Property Trust in a research report on Tuesday, January 30th. They set a “hold” rating and a $240.00 target price for the company. Finally, The Goldman Sachs Group reiterated a “sell” rating and set a $227.00 target price on shares of Essex Property Trust in a research report on Thursday, February 22nd. Four research analysts have rated the stock with a sell rating, nine have issued a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $243.58.
Get Our Latest Stock Analysis on ESS
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.
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