Cbre Investment Management Listed Real Assets LLC decreased its stake in shares of Essex Property Trust, Inc. (NYSE:ESS – Free Report) by 10.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 476,305 shares of the real estate investment trust’s stock after selling 54,782 shares during the period. Essex Property Trust makes up 2.1% of Cbre Investment Management Listed Real Assets LLC’s portfolio, making the stock its 15th biggest position. Cbre Investment Management Listed Real Assets LLC owned about 0.74% of Essex Property Trust worth $118,095,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. SG Americas Securities LLC increased its stake in shares of Essex Property Trust by 632.8% during the fourth quarter. SG Americas Securities LLC now owns 15,001 shares of the real estate investment trust’s stock valued at $3,719,000 after acquiring an additional 12,954 shares during the period. Daiwa Securities Group Inc. raised its stake in shares of 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 buying an additional 357,268 shares in the last quarter. Victory Capital Management Inc. lifted its holdings in shares of Essex Property Trust by 11.1% in the fourth quarter. Victory Capital Management Inc. now owns 49,277 shares of the real estate investment trust’s stock valued at $12,218,000 after buying an additional 4,943 shares during the period. Kingswood Wealth Advisors LLC bought a new position in Essex Property Trust during the fourth quarter valued at about $3,304,000. Finally, JLP Asset Management LLC acquired a new position in Essex Property Trust during the fourth quarter worth about $2,802,000. 96.51% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
Several equities analysts have recently weighed in on the stock. Wedbush raised their price objective on shares of Essex Property Trust from $240.00 to $264.00 and gave the company a “neutral” rating in a research report on Monday, May 6th. Wells Fargo & Company lifted their price target on shares of Essex Property Trust from $232.00 to $269.00 and gave the stock an “equal weight” rating in a research report on Friday. Barclays upped their price target on Essex Property Trust from $224.00 to $225.00 and gave the company an “underweight” rating in a report on Tuesday, February 20th. Stifel Nicolaus raised their price objective on Essex Property Trust from $239.50 to $243.50 and gave the stock a “hold” rating in a research note on Wednesday, May 1st. Finally, Mizuho lifted their target price on Essex Property Trust from $250.00 to $266.00 and gave the stock a “buy” rating in a report on Thursday. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $257.33.
Check Out Our Latest Stock Analysis on ESS
Essex Property Trust Stock Up 1.6 %
Shares of NYSE ESS traded up $4.19 during mid-day trading on Friday, reaching $259.79. The company had a trading volume of 489,351 shares, compared to its average volume of 269,254. 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 twelve month low of $203.85 and a twelve month high of $269.23. The stock’s 50 day moving average is $249.00 and its 200-day moving average is $239.54. The stock has a market capitalization of $16.68 billion, a PE ratio of 31.76, a price-to-earnings-growth ratio of 3.59 and a beta of 0.79.
Essex Property Trust Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 24th. Shareholders of record on Friday, June 28th will be given a $2.45 dividend. This represents a $9.80 annualized dividend and a yield of 3.77%. The ex-dividend date is Friday, June 28th. Essex Property Trust’s payout ratio is currently 119.80%.
Essex Property Trust Company 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.
See Also
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:ESS – Free Report).
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