Van ECK Associates Corp lowered its stake in Essex Property Trust, Inc. (NYSE:ESS – Free Report) by 0.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 22,889 shares of the real estate investment trust’s stock after selling 197 shares during the quarter. Van ECK Associates Corp’s holdings in Essex Property Trust were worth $4,855,000 as of its most recent filing with the Securities & Exchange Commission.
Other large investors have also added to or reduced their stakes in the company. Steward Partners Investment Advisory LLC boosted its stake in Essex Property Trust by 100.0% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 120 shares of the real estate investment trust’s stock worth $25,000 after purchasing an additional 60 shares during the period. Clear Street Markets LLC boosted 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 worth $26,000 after purchasing an additional 59 shares during the period. Pacific Center for Financial Services purchased a new stake in shares of Essex Property Trust in the 1st quarter valued at about $30,000. Advisory Services Network LLC purchased a new stake in shares of Essex Property Trust in the 1st quarter valued at about $32,000. Finally, Financial Gravity Asset Management Inc. purchased a new stake in shares of Essex Property Trust in the 2nd quarter valued at about $37,000. Institutional investors own 92.93% of the company’s stock.
Analyst Ratings Changes
ESS has been the topic of several recent analyst reports. Truist Financial raised their price target on 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 initiated coverage on Essex Property Trust in a report on Tuesday, January 30th. They issued a “hold” rating and a $240.00 price target on the stock. Jefferies Financial Group raised Essex Property Trust from a “hold” rating to a “buy” rating and raised their price objective for the company from $215.00 to $281.00 in a report on Tuesday, January 2nd. BMO Capital Markets raised Essex Property Trust from an “underperform” rating to a “market perform” rating and decreased their price objective for the company from $235.00 to $225.00 in a report on Thursday, November 9th. Finally, Mizuho raised their price objective on Essex Property Trust from $232.00 to $256.00 and gave the company a “neutral” rating in a report on Wednesday, January 10th. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $244.41.
Essex Property Trust Stock Up 0.2 %
Shares of NYSE:ESS opened at $229.80 on Monday. The stock has a fifty day simple moving average of $239.40 and a two-hundred day simple moving average of $228.77. The stock has a market capitalization of $14.75 billion, a price-to-earnings ratio of 36.42, a PEG ratio of 2.65 and a beta of 0.80. Essex Property Trust, Inc. has a 12-month low of $195.03 and a 12-month 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 1.11.
Essex Property Trust Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Friday, January 12th. Shareholders of record on Tuesday, January 2nd were paid a dividend of $2.31 per share. This represents a $9.24 dividend on an annualized basis and a yield of 4.02%. The ex-dividend date of this dividend was Friday, December 29th. Essex Property Trust’s payout ratio is 146.43%.
Essex Property Trust 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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