Verition Fund Management LLC Trims Position in Essex Property Trust, Inc. (NYSE:ESS)

Verition Fund Management LLC lessened its holdings in shares of Essex Property Trust, Inc. (NYSE:ESSGet Rating) by 21.5% during the first quarter, HoldingsChannel reports. The firm owned 1,923 shares of the real estate investment trust’s stock after selling 528 shares during the quarter. Verition Fund Management LLC’s holdings in Essex Property Trust were worth $664,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Riverview Trust Co purchased a new position in shares of Essex Property Trust during the 1st quarter worth $31,000. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in shares of Essex Property Trust during the 1st quarter worth $52,000. CVA Family Office LLC increased its holdings in shares of Essex Property Trust by 400.0% during the 1st quarter. CVA Family Office LLC now owns 175 shares of the real estate investment trust’s stock worth $60,000 after buying an additional 140 shares during the last quarter. CENTRAL TRUST Co acquired a new stake in shares of Essex Property Trust during the 1st quarter worth $67,000. Finally, Westwood Wealth Management acquired a new stake in shares of Essex Property Trust during the 1st quarter worth $69,096,000. Hedge funds and other institutional investors own 91.57% of the company’s stock.

Essex Property Trust Stock Performance

NYSE:ESS opened at $248.06 on Friday. 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 50-day moving average of $275.07 and a two-hundred day moving average of $295.35. The stock has a market cap of $16.15 billion, a P/E ratio of 41.97, a PEG ratio of 2.71 and a beta of 0.79. Essex Property Trust, Inc. has a 1-year low of $244.36 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 dividend of $2.20 per share. The ex-dividend date is Thursday, September 29th. This represents a $8.80 annualized dividend and a dividend yield of 3.55%. Essex Property Trust’s payout ratio is 148.90%.

Analyst Ratings Changes

A number of research firms have recently commented on ESS. Credit Suisse Group began coverage on Essex Property Trust in a report on Wednesday, June 22nd. They set an “underperform” rating and a $247.00 price objective for the company. Truist Financial upped their price objective on Essex Property Trust from $299.00 to $324.00 and gave the stock a “buy” rating in a report on Monday, August 22nd. KeyCorp dropped their price objective on Essex Property Trust from $371.00 to $314.00 and set an “overweight” rating for the company in a report on Tuesday, June 28th. Capital One Financial restated an “equal weight” rating on shares of Essex Property Trust in a report on Thursday, August 18th. Finally, Stifel Nicolaus lowered their price target on Essex Property Trust from $390.00 to $352.00 in a report on Thursday, June 9th. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $307.18.

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.

Featured Articles

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)

Receive News & Ratings for Essex Property Trust Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Essex Property Trust and related companies with MarketBeat.com's FREE daily email newsletter.