Federated Hermes Inc. increased its holdings in shares of Essex Property Trust, Inc. (NYSE:ESS – Free Report) by 30.2% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 815 shares of the real estate investment trust’s stock after purchasing an additional 189 shares during the quarter. Federated Hermes Inc.’s holdings in Essex Property Trust were worth $173,000 as of its most recent filing with the SEC.
Other hedge funds also recently made changes to their positions in the company. Steward Partners Investment Advisory LLC grew its stake in shares of Essex Property Trust by 100.0% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 120 shares of the real estate investment trust’s stock worth $25,000 after acquiring an additional 60 shares in the last quarter. Clear Street Markets LLC grew its stake in shares of Essex Property Trust by 89.4% during the 1st quarter. Clear Street Markets LLC now owns 125 shares of the real estate investment trust’s stock worth $26,000 after acquiring an additional 59 shares in the last quarter. Pacific Center for Financial Services bought a new position in shares of Essex Property Trust during the 1st quarter worth approximately $30,000. Advisory Services Network LLC bought a new position in shares of Essex Property Trust during the 1st quarter worth approximately $32,000. Finally, Financial Gravity Asset Management Inc. bought a new position in shares of Essex Property Trust during the 2nd quarter worth approximately $37,000. 92.93% of the stock is owned by institutional investors.
Analyst Ratings Changes
Several equities analysts have recently weighed in on ESS shares. Barclays raised their price target on shares of Essex Property Trust from $224.00 to $225.00 and gave the stock an “underweight” rating in a research note on Tuesday, February 20th. Stifel Nicolaus decreased their target price on shares of Essex Property Trust from $225.00 to $223.00 and set a “hold” rating for the company in a research note on Wednesday, February 7th. Morgan Stanley raised their target price on shares of Essex Property Trust from $227.00 to $230.00 and gave the company an “equal weight” rating in a research note on Monday, February 26th. Royal Bank of Canada raised their target price on shares of Essex Property Trust from $237.00 to $239.00 and gave the company an “outperform” rating in a research note on Thursday, February 8th. Finally, StockNews.com cut shares of Essex Property Trust from a “hold” rating to a “sell” rating in a research note on Tuesday, February 27th. Four research analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $242.39.
View Our Latest Stock Report on ESS
Essex Property Trust Trading Up 1.2 %
Shares of Essex Property Trust stock opened at $245.44 on Friday. The firm has a 50-day moving average of $237.73 and a 200-day moving average of $228.00. The stock has a market cap of $15.76 billion, a PE ratio of 38.90, a PEG ratio of 3.08 and a beta of 0.79. Essex Property Trust, Inc. has a 52-week low of $195.03 and a 52-week high of $252.85. The company has a debt-to-equity ratio of 1.11, a quick ratio of 3.26 and a current ratio of 3.26.
Essex Property Trust Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, April 12th. Stockholders of record on Friday, March 29th will be given a $2.45 dividend. This represents a $9.80 dividend on an annualized basis and a dividend yield of 3.99%. The ex-dividend date of this dividend is Wednesday, March 27th. This is a boost from Essex Property Trust’s previous quarterly dividend of $2.31. Essex Property Trust’s payout ratio is presently 146.43%.
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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