Swiss National Bank Sells 26,200 Shares of Essex Property Trust, Inc. (NYSE:ESS)

Swiss National Bank decreased its position in shares of Essex Property Trust, Inc. (NYSE:ESSFree Report) by 11.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 206,552 shares of the real estate investment trust’s stock after selling 26,200 shares during the period. Swiss National Bank owned about 0.32% of Essex Property Trust worth $43,808,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of ESS. Heartland Advisors Inc. increased its stake in shares of Essex Property Trust by 11.6% in the third quarter. Heartland Advisors Inc. now owns 97,016 shares of the real estate investment trust’s stock valued at $20,576,000 after buying an additional 10,107 shares during the period. Avantax Advisory Services Inc. raised its holdings in Essex Property Trust by 12.8% during the third quarter. Avantax Advisory Services Inc. now owns 1,338 shares of the real estate investment trust’s stock worth $284,000 after buying an additional 152 shares during the last quarter. New York Life Investment Management LLC boosted its stake in Essex Property Trust by 2.5% during the 3rd quarter. New York Life Investment Management LLC now owns 11,558 shares of the real estate investment trust’s stock valued at $2,451,000 after purchasing an additional 281 shares during the last quarter. Oppenheimer Asset Management Inc. grew its stake in shares of Essex Property Trust by 4.1% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 4,274 shares of the real estate investment trust’s stock worth $906,000 after acquiring an additional 169 shares in the last quarter. Finally, Quantbot Technologies LP purchased a new stake in Essex Property Trust in the 3rd quarter valued at about $332,000. Institutional investors and hedge funds own 92.93% of the company’s stock.

Essex Property Trust Stock Performance

Shares of NYSE ESS opened at $229.02 on Thursday. The stock’s 50-day moving average is $238.90 and its 200 day moving average is $229.02. The stock has a market cap of $14.70 billion, a price-to-earnings ratio of 36.29, a P/E/G ratio of 2.67 and a beta of 0.80. Essex Property Trust, Inc. has a 1-year low of $195.03 and a 1-year high of $252.85. The company has a current ratio of 2.63, a quick ratio of 2.63 and a debt-to-equity ratio of 1.09.

Essex Property Trust Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 12th. Stockholders of record on Tuesday, January 2nd were paid a $2.31 dividend. The ex-dividend date 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 dividend payout ratio (DPR) is 146.43%.

Analysts Set New Price Targets

Several brokerages have commented on ESS. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Essex Property Trust in a research report on Tuesday, January 30th. They issued a “hold” rating and a $240.00 price objective on the stock. Jefferies Financial Group raised Essex Property Trust from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $215.00 to $281.00 in a report on Tuesday, January 2nd. Mizuho increased their target price 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. Royal Bank of Canada dropped their price target 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, BMO Capital Markets upgraded shares of Essex Property Trust from an “underperform” rating to a “market perform” rating and reduced their price objective for the company from $235.00 to $225.00 in a research note on Thursday, November 9th. 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 stock. Based on data from MarketBeat, Essex Property Trust presently has an average rating of “Hold” and a consensus target price of $244.29.

Check Out Our Latest Analysis on ESS

Essex Property Trust Profile

(Free Report)

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.

See Also

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

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