Essex Property Trust, Inc. (NYSE:ESS) Stock Position Boosted by FourThought Financial LLC

FourThought Financial LLC grew its stake in shares of Essex Property Trust, Inc. (NYSE:ESS – Get Rating) by 137.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,871 shares of the real estate investment trust’s stock after buying an additional 2,820 shares during the quarter. FourThought Financial LLC’s holdings in Essex Property Trust were worth $1,180,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. grew its holdings in Essex Property Trust by 0.8% during the third quarter. Vanguard Group Inc. now owns 10,735,177 shares of the real estate investment trust’s stock worth $2,600,381,000 after acquiring an additional 83,030 shares during the period. BlackRock Inc. increased its holdings in shares of Essex Property Trust by 6.1% in the third quarter. BlackRock Inc. now owns 6,818,919 shares of the real estate investment trust’s stock valued at $1,651,748,000 after buying an additional 390,858 shares in the last quarter. State Street Corp lifted its position in shares of Essex Property Trust by 6.0% during the 3rd quarter. State Street Corp now owns 5,517,541 shares of the real estate investment trust’s stock valued at $1,348,129,000 after acquiring an additional 314,259 shares during the last quarter. Northern Trust Corp boosted its stake in shares of Essex Property Trust by 3.5% during the 1st quarter. Northern Trust Corp now owns 1,104,124 shares of the real estate investment trust’s stock worth $381,453,000 after acquiring an additional 37,651 shares in the last quarter. Finally, Legal & General Group Plc raised its position in shares of Essex Property Trust by 5.9% during the second quarter. Legal & General Group Plc now owns 985,200 shares of the real estate investment trust’s stock worth $257,640,000 after purchasing an additional 55,103 shares during the period. 91.76% of the stock is currently owned by institutional investors.

Essex Property Trust Stock Up 1.1 %

ESS opened at $216.79 on Thursday. Essex Property Trust, Inc. has a fifty-two week low of $205.24 and a fifty-two week high of $363.36. The company has a market capitalization of $13.99 billion, a P/E ratio of 34.52, a P/E/G ratio of 2.18 and a beta of 0.74. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.88 and a quick ratio of 0.88. The firm’s fifty day moving average price is $225.10 and its two-hundred day moving average price is $227.81.

Essex Property Trust Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 14th. Investors of record on Friday, March 31st will be given a $2.31 dividend. This represents a $9.24 annualized dividend and a yield of 4.26%. The ex-dividend date of this dividend is Thursday, March 30th. This is a positive change from Essex Property Trust’s previous quarterly dividend of $2.20. Essex Property Trust’s dividend payout ratio is 147.13%.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Piper Sandler restated a “neutral” rating and set a $250.00 price objective on shares of Essex Property Trust in a report on Wednesday, February 8th. Mizuho lifted their target price on shares of Essex Property Trust from $235.00 to $246.00 and gave the company a “neutral” rating in a research note on Thursday, February 23rd. Scotiabank cut their price objective on Essex Property Trust from $235.00 to $211.00 and set an “underperform” rating for the company in a report on Tuesday, November 29th. JPMorgan Chase & Co. downgraded Essex Property Trust from an “overweight” rating to a “neutral” rating and lowered their target price for the company from $284.00 to $267.00 in a research note on Friday, December 16th. Finally, StockNews.com began coverage on Essex Property Trust in a research note on Thursday. They set a “hold” rating for the company. Three research analysts have rated the stock with a sell rating, twelve have issued a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $256.15.

About Essex Property Trust

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Essex Property Trust, Inc operates as a real estate investment trust. It engages in the ownership, operation, management, acquisition, development, and redevelopment of predominantly apartment communities. The company was founded by George M. Marcus in 1971 and is headquartered in San Mateo, CA.