Quantbot Technologies LP Purchases New Stake in Essex Property Trust, Inc. (NYSE:ESS)

Quantbot Technologies LP purchased a new stake in shares of Essex Property Trust, Inc. (NYSE:ESSFree Report) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 1,566 shares of the real estate investment trust’s stock, valued at approximately $332,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in ESS. Vanguard Group Inc. grew its holdings in shares of Essex Property Trust by 1.8% during the 1st quarter. Vanguard Group Inc. now owns 10,614,782 shares of the real estate investment trust’s stock worth $3,667,195,000 after purchasing an additional 184,047 shares during the period. State Street Corp increased its position in shares of Essex Property Trust by 15.0% in 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 acquiring an additional 874,625 shares in the last quarter. Norges Bank purchased a new position in shares of Essex Property Trust in the 4th quarter valued at $476,588,000. Cohen & Steers Inc. lifted its holdings in shares of Essex Property Trust by 112.4% during the 2nd quarter. Cohen & Steers Inc. now owns 2,175,976 shares of the real estate investment trust’s stock valued at $509,808,000 after acquiring an additional 1,151,338 shares in the last quarter. Finally, Geode Capital Management LLC boosted its position in Essex Property Trust by 1.0% during the 2nd quarter. Geode Capital Management LLC now owns 1,487,617 shares of the real estate investment trust’s stock worth $347,706,000 after purchasing an additional 14,271 shares during the period. 92.93% of the stock is currently owned by institutional investors and hedge funds.

Essex Property Trust Stock Up 0.1 %

Essex Property Trust stock opened at $229.34 on Friday. The company has a debt-to-equity ratio of 1.09, a quick ratio of 2.63 and a current ratio of 2.63. Essex Property Trust, Inc. has a one year low of $195.03 and a one year high of $252.85. The company has a 50-day simple moving average of $239.21 and a 200-day simple moving average of $229.02. The firm has a market capitalization of $14.72 billion, a P/E ratio of 36.35, a P/E/G ratio of 2.67 and a beta of 0.80.

Essex Property Trust Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 12th. Investors of record on Tuesday, January 2nd were given a $2.31 dividend. This represents a $9.24 annualized dividend and a yield of 4.03%. The ex-dividend date was Friday, December 29th. Essex Property Trust’s dividend payout ratio is currently 146.43%.

Analysts Set New Price Targets

Several research analysts have commented on the company. BMO Capital Markets upgraded Essex Property Trust from an “underperform” rating to a “market perform” rating and reduced their price objective for the stock from $235.00 to $225.00 in a research note on Thursday, November 9th. Jefferies Financial Group upgraded Essex Property Trust from a “hold” rating to a “buy” rating and upped their price target for the stock from $215.00 to $281.00 in a report on Tuesday, January 2nd. Stifel Nicolaus dropped their price objective on shares of Essex Property Trust from $225.00 to $223.00 and set a “hold” rating on the stock in a research note on Wednesday. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Essex Property Trust in a research note on Tuesday, January 30th. They issued a “hold” rating and a $240.00 target price for the company. Finally, Mizuho lifted 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 note on Wednesday, January 10th. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and four have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $244.41.

Check Out Our Latest Stock Report on ESS

About Essex Property Trust

(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.

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

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