Essex Property Trust (NYSE:ESS) Given “Maintains” Rating at 51job

51job reaffirmed their maintains rating on shares of Essex Property Trust (NYSE:ESS – Get Rating) in a report issued on Friday, Benzinga reports.

A number of other equities research analysts have also issued reports on ESS. Morgan Stanley increased their target price on Essex Property Trust from $242.00 to $246.00 and gave the company an equal weight rating in a research note on Wednesday, March 1st. Truist Financial increased their target price on Essex Property Trust from $250.00 to $255.00 and gave the company a buy rating in a research note on Thursday, March 9th. Piper Sandler upgraded Essex Property Trust from a neutral rating to an overweight rating and increased their target price for the company from $242.00 to $271.00 in a research note on Monday, May 1st. Wells Fargo & Company initiated coverage on Essex Property Trust in a research note on Wednesday, March 29th. They issued an underweight rating and a $208.00 target price for the company. Finally, Stifel Nicolaus lowered their target price on Essex Property Trust from $260.00 to $245.00 in a research note on Friday, April 28th. Five research analysts have rated the stock with a sell rating, ten have given a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of Hold and a consensus price target of $245.18.

Essex Property Trust Stock Performance

Shares of NYSE:ESS opened at $211.00 on Friday. The firm has a market capitalization of $13.54 billion, a PE ratio of 27.98, a P/E/G ratio of 2.20 and a beta of 0.75. The company has a debt-to-equity ratio of 1.02, a current ratio of 0.95 and a quick ratio of 0.95. The business has a 50-day moving average of $210.77 and a two-hundred day moving average of $216.45. Essex Property Trust has a 12 month low of $195.03 and a 12 month high of $300.33.

Essex Property Trust Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 14th. Investors of record on Friday, June 30th will be issued a $2.31 dividend. This represents a $9.24 annualized dividend and a dividend yield of 4.38%. The ex-dividend date of this dividend is Thursday, June 29th. Essex Property Trust’s dividend payout ratio (DPR) is 122.55%.

Institutional Trading of Essex Property Trust

Several hedge funds have recently made changes to their positions in ESS. Vanguard Group Inc. increased its position in Essex Property Trust by 0.8% in the 3rd quarter. Vanguard Group Inc. now owns 10,735,177 shares of the real estate investment trust’s stock valued at $2,600,381,000 after acquiring an additional 83,030 shares during the period. BlackRock Inc. increased its position in Essex Property Trust by 6.1% in the 3rd quarter. BlackRock Inc. now owns 6,818,919 shares of the real estate investment trust’s stock valued at $1,651,748,000 after acquiring an additional 390,858 shares during the period. State Street Corp increased its position in Essex Property Trust by 15.0% in the 1st quarter. State Street Corp now owns 6,712,755 shares of the real estate investment trust’s stock valued at $1,419,056,000 after acquiring an additional 874,625 shares during the period. FMR LLC increased its position in Essex Property Trust by 77.7% in the 1st quarter. FMR LLC now owns 2,567,309 shares of the real estate investment trust’s stock valued at $536,927,000 after acquiring an additional 1,122,612 shares during the period. Finally, Norges Bank acquired a new stake in Essex Property Trust in the 4th quarter valued at approximately $476,588,000. Institutional investors own 91.76% of the company’s stock.

About Essex Property Trust

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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.