Raymond James Financial Services Advisors Inc. Acquires 205 Shares of Essex Property Trust, Inc. (NYSE:ESS)

Raymond James Financial Services Advisors Inc. grew its holdings in Essex Property Trust, Inc. (NYSE:ESSGet Rating) by 9.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,441 shares of the real estate investment trust’s stock after purchasing an additional 205 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in Essex Property Trust were worth $591,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of ESS. Cambridge Investment Research Advisors Inc. grew its stake in shares of Essex Property Trust by 24.8% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 2,261 shares of the real estate investment trust’s stock valued at $781,000 after purchasing an additional 450 shares during the period. Allianz Asset Management GmbH lifted its stake in shares of Essex Property Trust by 1.2% in the 1st quarter. Allianz Asset Management GmbH now owns 88,915 shares of the real estate investment trust’s stock worth $30,718,000 after purchasing an additional 1,050 shares during the period. Prudential PLC bought a new position in shares of Essex Property Trust in the 1st quarter worth approximately $475,000. Vanguard Group Inc. lifted its stake in shares of Essex Property Trust by 1.8% in the 1st quarter. Vanguard Group Inc. now owns 10,614,782 shares of the real estate investment trust’s stock worth $3,667,195,000 after purchasing an additional 184,047 shares during the period. Finally, Baird Financial Group Inc. lifted its stake in shares of Essex Property Trust by 3.6% in the 1st quarter. Baird Financial Group Inc. now owns 53,635 shares of the real estate investment trust’s stock worth $18,530,000 after purchasing an additional 1,847 shares during the period. Hedge funds and other institutional investors own 91.76% of the company’s stock.

Essex Property Trust Trading Up 0.8 %

ESS stock opened at $218.57 on Wednesday. The firm has a fifty day moving average price of $214.17 and a 200 day moving average price of $240.27. Essex Property Trust, Inc. has a fifty-two week low of $205.24 and a fifty-two week high of $363.36. The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.13 and a current ratio of 1.13. The firm has a market cap of $14.15 billion, a PE ratio of 39.60, a price-to-earnings-growth ratio of 1.93 and a beta of 0.72.

Essex Property Trust Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, January 13th. Investors of record on Tuesday, January 3rd were issued a $2.20 dividend. This represents a $8.80 dividend on an annualized basis and a dividend yield of 4.03%. The ex-dividend date was Friday, December 30th. Essex Property Trust’s dividend payout ratio (DPR) is presently 159.42%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on ESS shares. Janney Montgomery Scott cut shares of Essex Property Trust from a “buy” rating to a “neutral” rating and set a $241.00 price objective on the stock. in a research note on Wednesday, December 14th. Stifel Nicolaus lowered their price objective on shares of Essex Property Trust from $336.00 to $291.00 in a research note on Friday, October 7th. StockNews.com upgraded shares of Essex Property Trust from a “sell” rating to a “hold” rating in a research note on Monday. Scotiabank decreased their target price on shares of Essex Property Trust from $235.00 to $211.00 and set an “underperform” rating on the stock in a research note on Tuesday, November 29th. Finally, Mizuho decreased their target price on shares of Essex Property Trust from $264.00 to $221.00 and set a “neutral” rating on the stock in a research note on Thursday, November 10th. Three analysts have rated the stock with a sell rating, twelve have given a hold rating and six 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 $254.85.

Insider Activity at Essex Property Trust

In other news, Director Amal M. Johnson acquired 500 shares of the company’s stock in a transaction on Friday, December 2nd. The stock was bought at an average cost of $218.44 per share, with a total value of $109,220.00. Following the completion of the purchase, the director now directly owns 2,000 shares of the company’s stock, valued at $436,880. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 3.70% of the stock is currently owned by insiders.

Essex Property Trust Profile

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Essex Property Trust, Inc operates as a real estate investment trust. It engages in the ownership, operation, management, acquisition, development, and redevelopment of predominantly apartment communities. The company was founded by George M. Marcus in 1971 and is headquartered in San Mateo, CA.

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

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