Essex Property Trust, Inc. (NYSE:ESS) Shares Sold by Strategic Global Advisors LLC

Strategic Global Advisors LLC cut its position in Essex Property Trust, Inc. (NYSE:ESSFree Report) by 40.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,786 shares of the real estate investment trust’s stock after selling 3,225 shares during the quarter. Strategic Global Advisors LLC’s holdings in Essex Property Trust were worth $1,187,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Norges Bank purchased a new stake in Essex Property Trust during the 4th quarter valued at approximately $675,183,000. Daiwa Securities Group Inc. raised its stake in Essex Property Trust by 201.1% during the 4th quarter. Daiwa Securities Group Inc. now owns 534,964 shares of the real estate investment trust’s stock valued at $132,639,000 after acquiring an additional 357,268 shares during the last quarter. Russell Investments Group Ltd. raised its stake in Essex Property Trust by 119.3% during the 4th quarter. Russell Investments Group Ltd. now owns 412,721 shares of the real estate investment trust’s stock valued at $102,602,000 after acquiring an additional 224,554 shares during the last quarter. Wellington Management Group LLP raised its stake in Essex Property Trust by 5,069.7% during the 3rd quarter. Wellington Management Group LLP now owns 208,651 shares of the real estate investment trust’s stock valued at $44,253,000 after acquiring an additional 204,615 shares during the last quarter. Finally, Ameriprise Financial Inc. raised its stake in Essex Property Trust by 13.0% during the 3rd quarter. Ameriprise Financial Inc. now owns 776,149 shares of the real estate investment trust’s stock valued at $164,233,000 after acquiring an additional 89,198 shares during the last quarter. 96.51% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have commented on ESS. Stifel Nicolaus upped their price objective on Essex Property Trust from $239.50 to $243.50 and gave the company a “hold” rating in a research note on Wednesday, May 1st. Scotiabank increased their target price on Essex Property Trust from $256.00 to $283.00 and gave the stock a “sector outperform” rating in a research note on Tuesday, May 14th. Mizuho increased their target price on Essex Property Trust from $250.00 to $266.00 and gave the stock a “buy” rating in a research note on Thursday, May 30th. Wells Fargo & Company increased their target price on Essex Property Trust from $232.00 to $269.00 and gave the stock an “equal weight” rating in a research note on Friday, May 31st. Finally, Piper Sandler increased their target price on Essex Property Trust from $291.00 to $315.00 and gave the stock an “overweight” rating in a research note on Monday, May 6th. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $257.33.

View Our Latest Analysis on Essex Property Trust

Essex Property Trust Price Performance

Shares of NYSE:ESS opened at $269.37 on Tuesday. The business’s fifty day moving average price is $252.01 and its two-hundred day moving average price is $242.17. The stock has a market cap of $17.30 billion, a PE ratio of 32.93, a price-to-earnings-growth ratio of 3.76 and a beta of 0.84. The company has a debt-to-equity ratio of 1.14, a quick ratio of 3.19 and a current ratio of 3.19. Essex Property Trust, Inc. has a one year low of $203.85 and a one year high of $272.48.

Essex Property Trust Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 24th. Shareholders of record on Friday, June 28th will be issued a dividend of $2.45 per share. This represents a $9.80 dividend on an annualized basis and a yield of 3.64%. The ex-dividend date is Friday, June 28th. Essex Property Trust’s dividend payout ratio (DPR) is presently 119.80%.

Essex Property Trust 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.

Featured Stories

Want to see what other hedge funds are holding ESS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Essex Property Trust, Inc. (NYSE:ESSFree Report).

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

Receive News & Ratings for Essex Property Trust Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Essex Property Trust and related companies with MarketBeat.com's FREE daily email newsletter.