State of Tennessee Treasury Department Decreases Stock Holdings in Essex Property Trust, Inc. (NYSE:ESS)

State of Tennessee Treasury Department reduced its holdings in shares of Essex Property Trust, Inc. (NYSE:ESSFree Report) by 1.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 110,455 shares of the real estate investment trust’s stock after selling 1,196 shares during the quarter. State of Tennessee Treasury Department owned 0.17% of Essex Property Trust worth $27,386,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Cornercap Investment Counsel Inc. boosted its stake in shares of Essex Property Trust by 2.4% in the fourth quarter. Cornercap Investment Counsel Inc. now owns 1,913 shares of the real estate investment trust’s stock valued at $474,000 after purchasing an additional 45 shares during the period. Commerzbank Aktiengesellschaft FI boosted its stake in shares of Essex Property Trust by 1.8% in the fourth quarter. Commerzbank Aktiengesellschaft FI now owns 2,552 shares of the real estate investment trust’s stock valued at $633,000 after purchasing an additional 45 shares during the period. Tokio Marine Asset Management Co. Ltd. boosted its stake in shares of Essex Property Trust by 2.8% in the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 1,866 shares of the real estate investment trust’s stock valued at $463,000 after purchasing an additional 51 shares during the period. Lindbrook Capital LLC boosted its stake in shares of Essex Property Trust by 111.5% in the fourth quarter. Lindbrook Capital LLC now owns 110 shares of the real estate investment trust’s stock valued at $27,000 after purchasing an additional 58 shares during the period. Finally, Loudon Investment Management LLC boosted its stake in shares of Essex Property Trust by 0.4% in the fourth quarter. Loudon Investment Management LLC now owns 15,817 shares of the real estate investment trust’s stock valued at $3,922,000 after purchasing an additional 61 shares during the period. 96.51% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

ESS has been the subject of several analyst reports. StockNews.com upgraded shares of Essex Property Trust from a “sell” rating to a “hold” rating in a research note on Wednesday, May 1st. Stifel Nicolaus upped their target price on shares of Essex Property Trust from $239.50 to $243.50 and gave the company a “hold” rating in a research note on Wednesday, May 1st. Morgan Stanley upped their price target on shares of Essex Property Trust from $230.00 to $250.00 and gave the company an “equal weight” rating in a report on Tuesday, May 14th. Wells Fargo & Company upped their price target on shares of Essex Property Trust from $232.00 to $269.00 and gave the company an “equal weight” rating in a report on Friday, May 31st. Finally, Truist Financial cut their price target on shares of Essex Property Trust from $259.00 to $255.00 and set a “hold” rating on the stock in a report on Tuesday, April 9th. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, Essex Property Trust has a consensus rating of “Hold” and a consensus target price of $257.33.

Read Our Latest Report on ESS

Essex Property Trust Stock Up 0.5 %

Shares of NYSE:ESS opened at $269.37 on Tuesday. The stock has a market capitalization of $17.30 billion, a price-to-earnings ratio of 32.93, a price-to-earnings-growth ratio of 3.76 and a beta of 0.84. Essex Property Trust, Inc. has a 1-year low of $203.85 and a 1-year high of $272.48. The company’s fifty day moving average is $252.01 and its two-hundred day moving average is $242.17. 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 Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 24th. Stockholders of record on Friday, June 28th will be given a dividend of $2.45 per share. The ex-dividend date is Friday, June 28th. This represents a $9.80 annualized dividend and a dividend yield of 3.64%. Essex Property Trust’s dividend payout ratio is currently 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.

See Also

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

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