Handelsbanken Fonder AB Buys 1,549 Shares of Essex Property Trust, Inc. (NYSE:ESS)

Handelsbanken Fonder AB grew its stake in Essex Property Trust, Inc. (NYSE:ESS) by 4.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 36,882 shares of the real estate investment trust’s stock after purchasing an additional 1,549 shares during the period. Handelsbanken Fonder AB’s holdings in Essex Property Trust were worth $9,145,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of the stock. Lindbrook Capital LLC grew its position in Essex Property Trust by 111.5% during the 4th quarter. Lindbrook Capital LLC now owns 110 shares of the real estate investment trust’s stock worth $27,000 after acquiring an additional 58 shares during the last quarter. Bruce G. Allen Investments LLC bought a new stake in Essex Property Trust during the 4th quarter worth approximately $41,000. Bear Mountain Capital Inc. bought a new stake in Essex Property Trust during the 4th quarter worth approximately $55,000. Blue Trust Inc. boosted its position in Essex Property Trust by 645.2% in the 4th quarter. Blue Trust Inc. now owns 231 shares of the real estate investment trust’s stock valued at $57,000 after buying an additional 200 shares during the last quarter. Finally, Tobam bought a new position in Essex Property Trust in the 4th quarter valued at $60,000. 96.51% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on ESS. StockNews.com lowered Essex Property Trust from a “hold” rating to a “sell” rating in a research report on Saturday, April 13th. Morgan Stanley increased their price objective on Essex Property Trust from $227.00 to $230.00 and gave the company an “equal weight” rating in a research report on Monday, February 26th. Raymond James upgraded Essex Property Trust from a “market perform” rating to an “outperform” rating and set a $265.00 price objective on the stock in a research report on Monday, March 18th. Stifel Nicolaus decreased their price objective on Essex Property Trust from $225.00 to $223.00 and set a “hold” rating on the stock in a research report on Wednesday, February 7th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on 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. Four investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $245.37.

Essex Property Trust Price Performance

ESS stock opened at $247.74 on Thursday. The stock has a 50-day moving average price of $238.32 and a two-hundred day moving average price of $231.49. The stock has a market cap of $15.91 billion, a PE ratio of 39.26, a price-to-earnings-growth ratio of 3.57 and a beta of 0.80. The company has a current ratio of 3.26, a quick ratio of 3.26 and a debt-to-equity ratio of 1.11. Essex Property Trust, Inc. has a 1 year low of $203.85 and a 1 year high of $252.85.

Essex Property Trust Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, April 12th. Shareholders of record on Friday, March 29th were issued a dividend of $2.45 per share. This represents a $9.80 dividend on an annualized basis and a yield of 3.96%. The ex-dividend date was Wednesday, March 27th. This is a boost from Essex Property Trust’s previous quarterly dividend of $2.31. Essex Property Trust’s dividend payout ratio is 155.31%.

Essex Property Trust Company 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.