Amalgamated Bank Sells 1,158 Shares of Essex Property Trust, Inc. (NYSE:ESS)

Amalgamated Bank reduced its holdings in shares of Essex Property Trust, Inc. (NYSE:ESSGet Rating) by 6.4% during the first quarter, Holdings Channel reports. The fund owned 17,072 shares of the real estate investment trust’s stock after selling 1,158 shares during the period. Amalgamated Bank’s holdings in Essex Property Trust were worth $5,898,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of ESS. Ensign Peak Advisors Inc grew its holdings in shares of Essex Property Trust by 102.5% in the fourth quarter. Ensign Peak Advisors Inc now owns 28,691 shares of the real estate investment trust’s stock worth $10,107,000 after purchasing an additional 14,523 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Essex Property Trust by 1.2% in the fourth quarter. Geode Capital Management LLC now owns 1,389,431 shares of the real estate investment trust’s stock worth $488,302,000 after purchasing an additional 16,445 shares during the last quarter. American International Group Inc. grew its holdings in shares of Essex Property Trust by 0.5% in the fourth quarter. American International Group Inc. now owns 19,512 shares of the real estate investment trust’s stock worth $6,873,000 after purchasing an additional 93 shares during the last quarter. Invesco Ltd. grew its holdings in shares of Essex Property Trust by 6.2% in the fourth quarter. Invesco Ltd. now owns 411,792 shares of the real estate investment trust’s stock worth $145,047,000 after purchasing an additional 23,900 shares during the last quarter. Finally, Schroder Investment Management Group grew its holdings in shares of Essex Property Trust by 3.8% in the fourth quarter. Schroder Investment Management Group now owns 24,305 shares of the real estate investment trust’s stock worth $8,561,000 after purchasing an additional 898 shares during the last quarter. 91.57% of the stock is currently owned by institutional investors.

Essex Property Trust Price Performance

ESS opened at $261.06 on Monday. The stock has a 50-day moving average price of $275.97 and a 200-day moving average price of $297.48. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.30 and a quick ratio of 1.30. The firm has a market cap of $17.00 billion, a PE ratio of 44.17, a P/E/G ratio of 2.81 and a beta of 0.79. Essex Property Trust, Inc. has a 1 year low of $250.62 and a 1 year high of $363.36.

Essex Property Trust Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, October 14th. Stockholders of record on Friday, September 30th will be given a $2.20 dividend. This represents a $8.80 annualized dividend and a dividend yield of 3.37%. The ex-dividend date is Thursday, September 29th. Essex Property Trust’s dividend payout ratio is presently 148.90%.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on ESS shares. Jefferies Financial Group cut their target price on shares of Essex Property Trust from $316.00 to $235.00 and set a “hold” rating on the stock in a report on Thursday, June 30th. Credit Suisse Group started coverage on Essex Property Trust in a research note on Wednesday, June 22nd. They issued an “underperform” rating and a $247.00 price target for the company. Truist Financial raised their price target on Essex Property Trust from $299.00 to $324.00 and gave the stock a “buy” rating in a research note on Monday, August 22nd. Barclays dropped their price target on Essex Property Trust from $310.00 to $300.00 and set an “underweight” rating for the company in a research note on Thursday. Finally, KeyCorp dropped their price target on Essex Property Trust from $371.00 to $314.00 and set an “overweight” rating for the company in a research note on Tuesday, June 28th. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $309.29.

About Essex Property Trust

(Get Rating)

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 246 apartment communities comprising approximately 60,000 apartment homes with an additional 6 properties in various stages of active development.

Further Reading

Want to see what other hedge funds are holding ESS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Essex Property Trust, Inc. (NYSE:ESSGet Rating).

Institutional Ownership by Quarter for Essex Property Trust (NYSE:ESS)

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