Trust Co. of Vermont decreased its position in Essex Property Trust, Inc. (NYSE:ESS – Free Report) by 10.9% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 1,022 shares of the real estate investment trust’s stock after selling 125 shares during the period. Trust Co. of Vermont’s holdings in Essex Property Trust were worth $217,000 at the end of the most recent reporting period.
Several other large investors also recently bought and sold shares of the company. Public Sector Pension Investment Board grew its holdings in Essex Property Trust by 6.1% in the third quarter. Public Sector Pension Investment Board now owns 13,084 shares of the real estate investment trust’s stock valued at $2,775,000 after purchasing an additional 749 shares during the last quarter. Jacobs Levy Equity Management Inc. lifted its position in shares of Essex Property Trust by 47.6% in the third quarter. Jacobs Levy Equity Management Inc. now owns 11,772 shares of the real estate investment trust’s stock valued at $2,497,000 after acquiring an additional 3,796 shares in the last quarter. Revisor Wealth Management LLC purchased a new stake in shares of Essex Property Trust in the third quarter valued at $264,000. Public Employees Retirement System of Ohio lifted its position in shares of Essex Property Trust by 3.5% in the third quarter. Public Employees Retirement System of Ohio now owns 118,104 shares of the real estate investment trust’s stock valued at $25,049,000 after acquiring an additional 3,947 shares in the last quarter. Finally, Morgan Stanley lifted its position in shares of Essex Property Trust by 11.3% in the third quarter. Morgan Stanley now owns 794,130 shares of the real estate investment trust’s stock valued at $168,427,000 after acquiring an additional 80,431 shares in the last quarter. Institutional investors and hedge funds own 92.93% of the company’s stock.
Essex Property Trust Stock Performance
Essex Property Trust stock opened at $242.34 on Thursday. The stock’s 50-day moving average is $237.43 and its 200-day moving average is $228.09. The company has a market cap of $15.56 billion, a price-to-earnings ratio of 38.41, a price-to-earnings-growth ratio of 3.09 and a beta of 0.79. The company has a debt-to-equity ratio of 1.11, a current ratio of 3.26 and a quick ratio of 3.26. 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 business also recently announced a quarterly dividend, which will be paid on Friday, April 12th. Stockholders of record on Friday, March 29th will be paid a $2.45 dividend. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $9.80 dividend on an annualized basis and a dividend yield of 4.04%. This is a positive change from Essex Property Trust’s previous quarterly dividend of $2.31. Essex Property Trust’s dividend payout ratio (DPR) is 155.31%.
Analysts Set New Price Targets
ESS has been the topic of several recent research reports. Mizuho upgraded Essex Property Trust from a “neutral” rating to a “buy” rating and reduced their price objective for the company from $255.00 to $250.00 in a research report on Wednesday, February 28th. Royal Bank of Canada upped their price objective on Essex Property Trust from $237.00 to $239.00 and gave the company an “outperform” rating in a research report on Thursday, February 8th. Stifel Nicolaus reduced 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. Jefferies Financial Group upgraded Essex Property Trust from a “hold” rating to a “buy” rating and upped their price objective for the company from $215.00 to $281.00 in a research report on Tuesday, January 2nd. Finally, Truist Financial increased their target price on Essex Property Trust from $260.00 to $276.00 and gave the stock a “hold” rating in a research report on Tuesday, January 16th. Four equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $242.39.
Check Out Our Latest Analysis on ESS
Essex Property Trust 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.
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