Charles Schwab Investment Management Inc. Has $142.37 Million Stake in Essex Property Trust, Inc. (NYSE:ESS)

Charles Schwab Investment Management Inc. trimmed its holdings in shares of Essex Property Trust, Inc. (NYSE:ESSFree Report) by 1.2% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 671,284 shares of the real estate investment trust’s stock after selling 8,112 shares during the quarter. Charles Schwab Investment Management Inc. owned about 1.05% of Essex Property Trust worth $142,373,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Steward Partners Investment Advisory LLC increased its position in 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 during the period. Clear Street Markets LLC increased its holdings 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 period. Pacific Center for Financial Services bought a new position in Essex Property Trust in the 1st quarter valued at about $30,000. Advisory Services Network LLC bought a new position in Essex Property Trust in the 1st quarter valued at about $32,000. Finally, Financial Gravity Asset Management Inc. bought a new position in Essex Property Trust in the 2nd quarter valued at about $37,000. 92.93% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have commented on ESS. Truist Financial raised their target price on shares of Essex Property Trust from $260.00 to $276.00 and gave the company a “hold” rating in a report on Tuesday, January 16th. Deutsche Bank Aktiengesellschaft began coverage on shares of Essex Property Trust in a research note on Tuesday, January 30th. They issued a “hold” rating and a $240.00 price target on the stock. Stifel Nicolaus reduced their price target 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. Mizuho raised their price target on shares of Essex Property Trust from $232.00 to $256.00 and gave the company a “neutral” rating in a research note on Wednesday, January 10th. Finally, Royal Bank of Canada raised their price target on shares of Essex Property Trust from $237.00 to $239.00 and gave the company an “outperform” rating in a research note on Thursday. Two research 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. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $244.41.

Get Our Latest Research Report on ESS

Essex Property Trust Stock Up 0.2 %

Shares of NYSE ESS opened at $229.80 on Friday. The company’s 50 day moving average price is $239.40 and its 200-day moving average price is $228.92. The company has a market capitalization of $14.75 billion, a P/E ratio of 36.42, a price-to-earnings-growth ratio of 2.65 and a beta of 0.80. The company has a debt-to-equity ratio of 1.11, a quick ratio of 2.63 and a current ratio of 2.63. Essex Property Trust, Inc. has a 52-week low of $195.03 and a 52-week high of $252.85.

Essex Property Trust Dividend Announcement

The business 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 annualized dividend and a dividend yield of 4.02%. Essex Property Trust’s dividend payout ratio is currently 146.43%.

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.

Further Reading

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

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