Neuberger Berman Group LLC Raises Stock Position in Essex Property Trust, Inc. (NYSE:ESS)

Neuberger Berman Group LLC boosted its position in shares of Essex Property Trust, Inc. (NYSE:ESSGet Rating) by 4.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 278,176 shares of the real estate investment trust’s stock after purchasing an additional 10,717 shares during the period. Neuberger Berman Group LLC owned approximately 0.43% of Essex Property Trust worth $96,112,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of ESS. Norges Bank purchased a new position in Essex Property Trust during the fourth quarter worth about $721,012,000. State Street Corp increased its position in shares of Essex Property Trust by 6.5% during the first quarter. State Street Corp now owns 5,219,447 shares of the real estate investment trust’s stock valued at $1,814,408,000 after acquiring an additional 316,868 shares during the last quarter. Boston Partners increased its position in shares of Essex Property Trust by 43.1% during the first quarter. Boston Partners now owns 858,462 shares of the real estate investment trust’s stock valued at $296,594,000 after acquiring an additional 258,581 shares during the last quarter. BlackRock Inc. increased its position in shares of Essex Property Trust by 3.8% during the fourth quarter. BlackRock Inc. now owns 6,686,520 shares of the real estate investment trust’s stock valued at $2,355,194,000 after acquiring an additional 242,033 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. increased its position in shares of Essex Property Trust by 71.4% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 466,253 shares of the real estate investment trust’s stock valued at $161,081,000 after acquiring an additional 194,288 shares during the last quarter. 91.57% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. Raymond James reiterated an “upgrade” rating and set a $300.00 price target on shares of Essex Property Trust in a research report on Thursday, August 4th. Evercore ISI set a $333.00 price target on shares of Essex Property Trust in a research report on Monday, June 20th. Jefferies Financial Group dropped their price target on shares of Essex Property Trust from $316.00 to $235.00 and set a “hold” rating for the company in a research report on Thursday, June 30th. Capital One Financial restated an “equal weight” rating on shares of Essex Property Trust in a report on Thursday, August 18th. Finally, Piper Sandler dropped their price objective on shares of Essex Property Trust from $340.00 to $320.00 and set an “overweight” rating for the company in a report on Wednesday, July 20th. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, Essex Property Trust has a consensus rating of “Hold” and an average target price of $309.29.

Essex Property Trust Stock Up 0.0 %

Shares of NYSE:ESS opened at $261.06 on Friday. The company has a market capitalization of $17.00 billion, a PE ratio of 44.17, a P/E/G ratio of 2.85 and a beta of 0.79. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 1.00. Essex Property Trust, Inc. has a twelve month low of $250.62 and a twelve month high of $363.36. The firm has a 50 day simple moving average of $276.01 and a 200-day simple moving average of $298.06.

Essex Property Trust Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 14th. Stockholders of record on Friday, September 30th will be given a dividend of $2.20 per share. This represents a $8.80 annualized dividend and a dividend yield of 3.37%. Essex Property Trust’s dividend payout ratio is presently 148.90%.

About Essex Property Trust

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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 246 apartment communities comprising approximately 60,000 apartment homes with an additional 6 properties in various stages of active development.

Further Reading

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

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