Amalgamated Bank Sells 1,158 Shares of Essex Property Trust, Inc. (NYSE:ESS)

Amalgamated Bank lessened its holdings in shares of Essex Property Trust, Inc. (NYSE:ESSGet Rating) by 6.4% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,072 shares of the real estate investment trust’s stock after selling 1,158 shares during the quarter. Amalgamated Bank’s holdings in Essex Property Trust were worth $5,898,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. First Affirmative Financial Network increased its stake in Essex Property Trust by 4.3% during the 4th quarter. First Affirmative Financial Network now owns 858 shares of the real estate investment trust’s stock valued at $302,000 after purchasing an additional 35 shares in the last quarter. Legacy Wealth Asset Management LLC increased its stake in Essex Property Trust by 6.0% during the 1st quarter. Legacy Wealth Asset Management LLC now owns 675 shares of the real estate investment trust’s stock valued at $233,000 after purchasing an additional 38 shares in the last quarter. Silvercrest Asset Management Group LLC increased its stake in Essex Property Trust by 0.8% during the 4th quarter. Silvercrest Asset Management Group LLC now owns 5,037 shares of the real estate investment trust’s stock valued at $1,774,000 after purchasing an additional 40 shares in the last quarter. HighTower Trust Services LTA increased its stake in Essex Property Trust by 5.7% during the 1st quarter. HighTower Trust Services LTA now owns 741 shares of the real estate investment trust’s stock valued at $256,000 after purchasing an additional 40 shares in the last quarter. Finally, Veritable L.P. increased its stake in Essex Property Trust by 4.2% during the 1st quarter. Veritable L.P. now owns 999 shares of the real estate investment trust’s stock valued at $345,000 after purchasing an additional 40 shares in the last quarter. Institutional investors own 91.57% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. Credit Suisse Group assumed coverage on shares of Essex Property Trust in a research note on Wednesday, June 22nd. They issued an “underperform” rating and a $247.00 target price for the company. KeyCorp reduced their target price on shares of Essex Property Trust from $371.00 to $314.00 and set an “overweight” rating for the company in a research note on Tuesday, June 28th. Mizuho reduced their target price on shares of Essex Property Trust from $342.00 to $273.00 and set a “buy” rating for the company in a research note on Monday, June 27th. Morgan Stanley reduced their target price on shares of Essex Property Trust from $313.00 to $270.00 and set an “equal weight” rating for the company in a research note on Friday, July 15th. Finally, Barclays reduced their target price on shares of Essex Property Trust from $310.00 to $300.00 and set an “underweight” rating for the company in a research note on Thursday. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $309.29.

Essex Property Trust Price Performance

NYSE ESS opened at $261.06 on Monday. The company has a market cap of $17.00 billion, a PE ratio of 44.17, a price-to-earnings-growth ratio of 2.81 and a beta of 0.79. Essex Property Trust, Inc. has a 52 week low of $250.62 and a 52 week high of $363.36. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 1.00. The firm’s 50-day simple moving average is $275.97 and its two-hundred day simple moving average is $297.48.

Essex Property Trust Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 14th. Shareholders of record on Friday, September 30th will be issued a dividend of $2.20 per share. This represents a $8.80 annualized dividend and a yield of 3.37%. The ex-dividend date is Thursday, September 29th. Essex Property Trust’s dividend payout ratio (DPR) is presently 148.90%.

Essex Property Trust Profile

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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

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

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