Essex Property Trust, Inc. (NYSE:ESS) Shares Bought by ProShare Advisors LLC

ProShare Advisors LLC raised its holdings in Essex Property Trust, Inc. (NYSE:ESS) by 2.9% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 819,117 shares of the real estate investment trust’s stock after buying an additional 23,024 shares during the period. ProShare Advisors LLC owned about 1.28% of Essex Property Trust worth $191,919,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Norges Bank purchased a new position in shares of Essex Property Trust during the fourth quarter worth about $476,588,000. FMR LLC grew its holdings in shares of Essex Property Trust by 77.7% during the first quarter. FMR LLC now owns 2,567,309 shares of the real estate investment trust’s stock worth $536,927,000 after purchasing an additional 1,122,612 shares during the last quarter. State Street Corp grew its holdings in shares of Essex Property Trust by 15.0% during the first quarter. State Street Corp now owns 6,712,755 shares of the real estate investment trust’s stock worth $1,419,056,000 after purchasing an additional 874,625 shares during the last quarter. Millennium Management LLC grew its holdings in shares of Essex Property Trust by 213.0% during the fourth quarter. Millennium Management LLC now owns 888,858 shares of the real estate investment trust’s stock worth $188,367,000 after purchasing an additional 604,863 shares during the last quarter. Finally, Bank Julius Baer & Co. Ltd Zurich grew its holdings in shares of Essex Property Trust by 98,059.4% during the second quarter. Bank Julius Baer & Co. Ltd Zurich now owns 297,423 shares of the real estate investment trust’s stock worth $69,686,000 after purchasing an additional 297,120 shares during the last quarter. 92.93% of the stock is currently owned by institutional investors and hedge funds.

Essex Property Trust Price Performance

Shares of ESS stock traded down $0.55 during midday trading on Friday, reaching $211.02. 280,386 shares of the company traded hands, compared to its average volume of 444,591. The firm’s 50 day simple moving average is $214.86 and its two-hundred day simple moving average is $225.52. Essex Property Trust, Inc. has a 1-year low of $195.03 and a 1-year high of $248.80. The company has a debt-to-equity ratio of 1.09, a current ratio of 2.63 and a quick ratio of 2.63. The firm has a market cap of $13.54 billion, a PE ratio of 25.89, a price-to-earnings-growth ratio of 2.49 and a beta of 0.82.

Essex Property Trust Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 13th. Stockholders of record on Friday, September 29th were given a dividend of $2.31 per share. The ex-dividend date of this dividend was Thursday, September 28th. This represents a $9.24 dividend on an annualized basis and a dividend yield of 4.38%. Essex Property Trust’s payout ratio is 113.37%.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on ESS shares. JPMorgan Chase & Co. raised their price objective on Essex Property Trust from $252.00 to $268.00 and gave the stock a “neutral” rating in a report on Monday, August 21st. StockNews.com initiated coverage on Essex Property Trust in a report on Thursday, October 5th. They set a “hold” rating on the stock. Mizuho lowered their price target on Essex Property Trust from $221.00 to $219.00 and set a “neutral” rating on the stock in a report on Tuesday, September 26th. Citigroup lowered Essex Property Trust from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $280.00 to $260.00 in a report on Thursday, September 7th. Finally, Truist Financial lowered Essex Property Trust from a “buy” rating to a “hold” rating and raised their price target for the stock from $255.00 to $266.00 in a report on Monday, August 28th. Two investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Essex Property Trust presently has a consensus rating of “Hold” and an average price target of $238.44.

Essex Property Trust Company Profile

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 252 apartment communities comprising approximately 62,000 apartment homes with an additional property in active development.