Whittier Trust Co. Has $461,000 Holdings in Essex Property Trust, Inc. (NYSE:ESS)

Whittier Trust Co. lessened its holdings in shares of Essex Property Trust, Inc. (NYSE:ESSFree Report) by 6.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,859 shares of the real estate investment trust’s stock after selling 126 shares during the quarter. Whittier Trust Co.’s holdings in Essex Property Trust were worth $461,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in ESS. Cambridge Investment Research Advisors Inc. increased its holdings in Essex Property Trust by 24.8% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 2,261 shares of the real estate investment trust’s stock worth $781,000 after purchasing an additional 450 shares in the last quarter. Allianz Asset Management GmbH increased its holdings in Essex Property Trust by 1.2% during the 1st quarter. Allianz Asset Management GmbH now owns 88,915 shares of the real estate investment trust’s stock worth $30,718,000 after purchasing an additional 1,050 shares in the last quarter. Prudential PLC bought a new position in Essex Property Trust during the 1st quarter worth about $475,000. Vanguard Group Inc. increased its holdings in 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 in the last quarter. Finally, Baird Financial Group Inc. increased its holdings in Essex Property Trust by 3.6% during the 1st quarter. Baird Financial Group Inc. now owns 53,635 shares of the real estate investment trust’s stock worth $18,530,000 after purchasing an additional 1,847 shares in the last quarter. Institutional investors and hedge funds own 92.93% of the company’s stock.

Essex Property Trust Trading Down 0.8 %

Shares of ESS stock opened at $241.99 on Monday. The firm has a 50 day moving average price of $236.39 and a two-hundred day moving average price of $228.11. The company has a quick ratio of 3.26, a current ratio of 3.26 and a debt-to-equity ratio of 1.11. The company has a market capitalization of $15.54 billion, a PE ratio of 38.35, a price-to-earnings-growth ratio of 3.15 and a beta of 0.79. Essex Property Trust, Inc. has a 12-month low of $195.03 and a 12-month high of $252.85.

Essex Property Trust Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 12th. Stockholders of record on Friday, March 29th will be given a $2.45 dividend. This represents a $9.80 dividend on an annualized basis and a dividend yield of 4.05%. This is an increase from Essex Property Trust’s previous quarterly dividend of $2.31. The ex-dividend date of this dividend is Wednesday, March 27th. Essex Property Trust’s payout ratio is presently 146.43%.

Wall Street Analyst Weigh In

A number of research firms have issued reports on ESS. Raymond James upgraded Essex Property Trust from a “market perform” rating to an “outperform” rating and set a $265.00 target price for the company in a report on Monday, March 18th. 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 for the company. StockNews.com cut Essex Property Trust from a “hold” rating to a “sell” rating in a report on Tuesday, February 27th. The Goldman Sachs Group restated a “sell” rating and issued a $227.00 price objective on shares of Essex Property Trust in a report on Thursday, February 22nd. Finally, Jefferies Financial Group upgraded 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. Four investment analysts have rated the stock with a sell rating, nine have issued a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $243.58.

View Our Latest Stock Analysis on Essex Property Trust

Essex Property Trust Company 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.

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

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