DnB Asset Management AS Has $3.48 Million Holdings in Essex Property Trust, Inc. (NYSE:ESS)

DnB Asset Management AS grew its stake in Essex Property Trust, Inc. (NYSE:ESSGet Rating) by 14.2% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 13,317 shares of the real estate investment trust’s stock after buying an additional 1,656 shares during the quarter. DnB Asset Management AS’s holdings in Essex Property Trust were worth $3,483,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in ESS. Riverview Trust Co acquired a new position in Essex Property Trust during the first quarter worth $31,000. Harel Insurance Investments & Financial Services Ltd. acquired a new position in Essex Property Trust during the first quarter worth $52,000. Aaron Wealth Advisors LLC acquired a new position in Essex Property Trust during the first quarter worth $52,000. CVA Family Office LLC boosted its holdings in Essex Property Trust by 400.0% during the first quarter. CVA Family Office LLC now owns 175 shares of the real estate investment trust’s stock worth $60,000 after purchasing an additional 140 shares during the last quarter. Finally, CENTRAL TRUST Co acquired a new position in Essex Property Trust during the first quarter worth $67,000. Institutional investors and hedge funds own 91.57% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently commented on ESS shares. Capital One Financial restated an “equal weight” rating on shares of Essex Property Trust in a report on Thursday, August 18th. Truist Financial upped their price target on shares of Essex Property Trust from $299.00 to $324.00 and gave the stock a “buy” rating in a research report on Monday, August 22nd. Mizuho lowered shares of Essex Property Trust from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $273.00 to $264.00 in a research report on Monday. Citigroup raised shares of Essex Property Trust from a “neutral” rating to a “buy” rating and set a $295.00 price target on the stock in a research report on Monday. Finally, BMO Capital Markets lowered shares of Essex Property Trust from an “outperform” rating to a “market perform” rating and dropped their price target for the stock from $378.00 to $320.00 in a research report on Tuesday, May 31st. Three 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. Based on data from MarketBeat.com, Essex Property Trust presently has a consensus rating of “Hold” and a consensus target price of $307.18.

Essex Property Trust Price Performance

NYSE:ESS opened at $251.10 on Wednesday. Essex Property Trust, Inc. has a 52 week low of $248.72 and a 52 week high of $363.36. The firm has a market cap of $16.35 billion, a price-to-earnings ratio of 42.39, a P/E/G ratio of 2.81 and a beta of 0.79. The firm’s 50-day simple moving average is $275.87 and its 200 day simple moving average is $296.67. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.30 and a current ratio of 1.30.

Essex Property Trust Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 14th. Investors of record on Friday, September 30th will be given a dividend of $2.20 per share. This represents a $8.80 dividend on an annualized basis and a yield of 3.50%. The ex-dividend date of this dividend is Thursday, September 29th. Essex Property Trust’s dividend payout ratio is 148.90%.

About Essex Property Trust

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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.

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

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