Teachers Retirement System of The State of Kentucky Sells 206 Shares of Essex Property Trust, Inc. (NYSE:ESS)

Teachers Retirement System of The State of Kentucky lessened its stake in shares of Essex Property Trust, Inc. (NYSE:ESSGet Rating) by 4.2% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 4,744 shares of the real estate investment trust’s stock after selling 206 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Essex Property Trust were worth $1,639,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Riverview Trust Co purchased a new position in shares of Essex Property Trust in the first quarter valued at about $31,000. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in shares of Essex Property Trust in the first quarter worth about $52,000. CVA Family Office LLC lifted its position in shares of Essex Property Trust by 400.0% in the first quarter. CVA Family Office LLC now owns 175 shares of the real estate investment trust’s stock worth $60,000 after buying an additional 140 shares in the last quarter. CENTRAL TRUST Co purchased a new stake in shares of Essex Property Trust in the first quarter worth about $67,000. Finally, Westwood Wealth Management purchased a new stake in shares of Essex Property Trust in the first quarter worth about $69,096,000. 91.57% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms recently commented on ESS. Stifel Nicolaus decreased their target price on Essex Property Trust from $390.00 to $352.00 in a research report on Thursday, June 9th. BMO Capital Markets lowered shares of Essex Property Trust from an “outperform” rating to a “market perform” rating and dropped their price objective for the stock from $378.00 to $320.00 in a research note on Tuesday, May 31st. 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 research note on Wednesday, July 20th. Raymond James reaffirmed an “upgrade” rating and set a $300.00 price objective on shares of Essex Property Trust in a research note on Thursday, August 4th. Finally, Morgan Stanley dropped their price objective 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. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $307.18.

Essex Property Trust Stock Performance

Shares of ESS stock opened at $247.63 on Thursday. The firm has a market cap of $16.13 billion, a P/E ratio of 41.90, a P/E/G ratio of 2.77 and a beta of 0.79. Essex Property Trust, Inc. has a one year low of $247.61 and a one year high of $363.36. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.30 and a current ratio of 1.30. The firm’s 50 day moving average price is $275.33 and its 200-day moving average price is $296.01.

Essex Property Trust Announces Dividend

The firm also recently announced 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. The ex-dividend date of this dividend is Thursday, September 29th. This represents a $8.80 dividend on an annualized basis and a yield of 3.55%. Essex Property Trust’s dividend payout ratio (DPR) is presently 148.90%.

About Essex Property Trust

(Get Rating)

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.

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

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