Russell Investments Group Ltd. Boosts Stock Position in Essex Property Trust, Inc. (NYSE:ESS)

Russell Investments Group Ltd. boosted its holdings in Essex Property Trust, Inc. (NYSE:ESS) by 54.5% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 164,446 shares of the real estate investment trust’s stock after buying an additional 58,000 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.26% of Essex Property Trust worth $38,507,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of ESS. Wetherby Asset Management Inc. lifted its holdings in Essex Property Trust by 7.6% in the 1st quarter. Wetherby Asset Management Inc. now owns 635 shares of the real estate investment trust’s stock worth $219,000 after buying an additional 45 shares in the last quarter. Lazard Asset Management LLC lifted its holdings in Essex Property Trust by 25.3% in the 1st quarter. Lazard Asset Management LLC now owns 243 shares of the real estate investment trust’s stock worth $83,000 after buying an additional 49 shares in the last quarter. Cambridge Investment Research Advisors Inc. lifted its holdings in Essex Property Trust by 2.6% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 1,957 shares of the real estate investment trust’s stock worth $409,000 after buying an additional 49 shares in the last quarter. Simplicity Solutions LLC lifted its holdings in Essex Property Trust by 4.8% in the 2nd quarter. Simplicity Solutions LLC now owns 1,067 shares of the real estate investment trust’s stock worth $250,000 after buying an additional 49 shares in the last quarter. Finally, RB Capital Management LLC lifted its holdings in Essex Property Trust by 1.7% in the 1st quarter. RB Capital Management LLC now owns 3,003 shares of the real estate investment trust’s stock worth $628,000 after buying an additional 50 shares in the last quarter. Hedge funds and other institutional investors own 92.93% of the company’s stock.

Essex Property Trust Stock Performance

Shares of ESS opened at $211.02 on Friday. The company has a quick ratio of 2.63, a current ratio of 2.63 and a debt-to-equity ratio of 1.09. The company’s fifty day moving average is $214.86 and its 200-day moving average is $225.52. The firm has a market cap of $13.54 billion, a price-to-earnings ratio of 25.89, a price-to-earnings-growth ratio of 2.49 and a beta of 0.82. Essex Property Trust, Inc. has a 12 month low of $195.03 and a 12 month high of $248.80.

Essex Property Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 13th. Investors of record on Friday, September 29th were issued a dividend of $2.31 per share. This represents a $9.24 annualized dividend and a dividend yield of 4.38%. The ex-dividend date was Thursday, September 28th. Essex Property Trust’s dividend payout ratio is currently 113.37%.

Wall Street Analyst Weigh In

ESS has been the topic of a number of recent analyst reports. Stifel Nicolaus cut their target price on shares of Essex Property Trust from $226.00 to $225.00 and set a “hold” rating on the stock in a research note on Friday. Evercore ISI cut their target price on shares of Essex Property Trust from $247.00 to $235.00 in a research note on Monday, October 9th. JPMorgan Chase & Co. upped their target price on shares of Essex Property Trust from $252.00 to $268.00 and gave the company a “neutral” rating in a research note on Monday, August 21st. Royal Bank of Canada cut their target price on shares of Essex Property Trust from $241.00 to $235.00 and set an “outperform” rating on the stock in a research note on Monday, October 30th. Finally, Wedbush initiated coverage on shares of Essex Property Trust in a research report on Tuesday, October 3rd. They set a “neutral” rating and a $225.00 price objective for the company. Two analysts have rated the stock with a sell rating, thirteen have issued a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price 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.