Ossiam Sells 21,580 Shares of Essex Property Trust, Inc. (NYSE:ESS)

Ossiam cut its stake in shares of Essex Property Trust, Inc. (NYSE:ESSFree Report) by 74.7% in the fourth quarter, HoldingsChannel reports. The fund owned 7,319 shares of the real estate investment trust’s stock after selling 21,580 shares during the period. Ossiam’s holdings in Essex Property Trust were worth $1,815,000 as of its most recent filing with the Securities and Exchange Commission.

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

Essex Property Trust Stock Performance

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

Essex Property Trust Dividend Announcement

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

Wall Street Analyst Weigh In

Several research firms have weighed in on ESS. Mizuho upped their price target 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. Barclays upped their price target on Essex Property Trust from $224.00 to $225.00 and gave the stock an “underweight” rating in a research note on Tuesday, February 20th. Scotiabank upped their price target 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. Stifel Nicolaus upped their price objective on Essex Property Trust from $239.50 to $243.50 and gave the stock a “hold” rating in a report on Wednesday, May 1st. Finally, UBS Group upped their price objective on Essex Property Trust from $250.00 to $261.00 and gave the stock a “neutral” rating in a report on Tuesday, May 14th. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $257.33.

Read Our Latest Research Report on Essex Property Trust

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.

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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)

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