Swiss National Bank cut its stake in Essex Property Trust, Inc. (NYSE:ESS – Free Report) by 11.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 206,552 shares of the real estate investment trust’s stock after selling 26,200 shares during the quarter. Swiss National Bank owned 0.32% of Essex Property Trust worth $43,808,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently made changes to their positions in the company. Steward Partners Investment Advisory LLC increased its position in shares of Essex Property Trust by 100.0% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 120 shares of the real estate investment trust’s stock worth $25,000 after acquiring an additional 60 shares in the last quarter. Clear Street Markets LLC increased its stake in Essex Property Trust by 89.4% in the 1st quarter. Clear Street Markets LLC now owns 125 shares of the real estate investment trust’s stock valued at $26,000 after buying an additional 59 shares during the last quarter. Pacific Center for Financial Services bought a new stake in Essex Property Trust during the 1st quarter worth about $30,000. Advisory Services Network LLC acquired a new position in shares of Essex Property Trust during the 1st quarter worth about $32,000. Finally, V Square Quantitative Management LLC acquired a new position in shares of Essex Property Trust during the 2nd quarter worth about $34,000. Institutional investors and hedge funds own 92.93% of the company’s stock.
Wall Street Analyst Weigh In
ESS has been the topic of several analyst reports. Deutsche Bank Aktiengesellschaft began coverage on Essex Property Trust in a report on Tuesday, January 30th. They set a “hold” rating and a $240.00 target price on the stock. BMO Capital Markets raised Essex Property Trust from an “underperform” rating to a “market perform” rating and cut their price objective for the company from $235.00 to $225.00 in a report on Thursday, November 9th. Stifel Nicolaus decreased their target price on shares of Essex Property Trust from $226.00 to $225.00 and set a “hold” rating for the company in a research note on Friday, November 17th. Mizuho upped their price target on shares of Essex Property Trust from $232.00 to $256.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 10th. Finally, Truist Financial lifted their price objective on shares of Essex Property Trust from $260.00 to $276.00 and gave the company a “hold” rating in a research report on Tuesday, January 16th. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, Essex Property Trust currently has an average rating of “Hold” and an average target price of $244.29.
Essex Property Trust Stock Down 1.7 %
NYSE ESS opened at $229.02 on Thursday. The company has a current ratio of 2.63, a quick ratio of 2.63 and a debt-to-equity ratio of 1.09. The company has a market cap of $14.70 billion, a price-to-earnings ratio of 36.29, a PEG ratio of 2.67 and a beta of 0.80. The company has a 50 day moving average of $238.90 and a 200-day moving average of $229.02. Essex Property Trust, Inc. has a 1-year low of $195.03 and a 1-year high of $252.85.
Essex Property Trust Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Friday, January 12th. Stockholders of record on Tuesday, January 2nd were given a dividend of $2.31 per share. The ex-dividend date of this dividend was Friday, December 29th. This represents a $9.24 dividend on an annualized basis and a dividend yield of 4.03%. Essex Property Trust’s payout ratio is 146.43%.
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.
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