UBS Group AG Buys 50,610 Shares of Essex Property Trust, Inc. (NYSE:ESS)

UBS Group AG grew its stake in Essex Property Trust, Inc. (NYSE:ESSGet Rating) by 50.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 150,159 shares of the real estate investment trust’s stock after purchasing an additional 50,610 shares during the quarter. UBS Group AG owned approximately 0.23% of Essex Property Trust worth $31,822,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Cambridge Investment Research Advisors Inc. increased its position in shares of Essex Property Trust by 24.8% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 2,261 shares of the real estate investment trust’s stock valued at $781,000 after acquiring an additional 450 shares during the last quarter. Allianz Asset Management GmbH increased its position in shares of Essex Property Trust by 1.2% during the first quarter. Allianz Asset Management GmbH now owns 88,915 shares of the real estate investment trust’s stock valued at $30,718,000 after acquiring an additional 1,050 shares during the last quarter. Prudential PLC purchased a new stake in shares of Essex Property Trust during the first quarter valued at approximately $475,000. Vanguard Group Inc. increased its position in shares of Essex Property Trust by 1.8% during the first quarter. Vanguard Group Inc. now owns 10,614,782 shares of the real estate investment trust’s stock valued at $3,667,195,000 after acquiring an additional 184,047 shares during the last quarter. Finally, Baird Financial Group Inc. increased its position in shares of Essex Property Trust by 3.6% during the first quarter. Baird Financial Group Inc. now owns 53,635 shares of the real estate investment trust’s stock valued at $18,530,000 after acquiring an additional 1,847 shares during the last quarter. Institutional investors own 91.76% of the company’s stock.

Essex Property Trust Price Performance

NYSE:ESS opened at $214.05 on Tuesday. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.95 and a current ratio of 0.95. The stock has a fifty day moving average of $212.01 and a 200 day moving average of $216.77. Essex Property Trust, Inc. has a 52-week low of $195.03 and a 52-week high of $300.33. The firm has a market capitalization of $13.74 billion, a price-to-earnings ratio of 28.39, a P/E/G ratio of 2.31 and a beta of 0.75.

Essex Property Trust Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, July 14th. Shareholders of record on Friday, June 30th will be paid a dividend of $2.31 per share. This represents a $9.24 annualized dividend and a yield of 4.32%. Essex Property Trust’s dividend payout ratio (DPR) is currently 122.55%.

Analyst Ratings Changes

A number of analysts recently commented on ESS shares. Mizuho increased their price target on Essex Property Trust from $235.00 to $246.00 and gave the company a “neutral” rating in a research report on Thursday, February 23rd. Truist Financial raised their target price on Essex Property Trust from $250.00 to $255.00 and gave the stock a “buy” rating in a research report on Thursday, March 9th. BMO Capital Markets downgraded Essex Property Trust from a “market perform” rating to an “underperform” rating and decreased their target price for the stock from $239.00 to $200.00 in a research report on Monday, April 17th. Barclays raised their target price on Essex Property Trust from $219.00 to $226.00 and gave the stock an “underweight” rating in a research report on Wednesday, March 1st. Finally, Morgan Stanley raised their target price on Essex Property Trust from $242.00 to $246.00 and gave the stock an “equal weight” rating in a research report on Wednesday, March 1st. Five analysts have rated the stock with a sell rating, ten have issued a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, Essex Property Trust presently has an average rating of “Hold” and a consensus price target of $246.32.

Essex Property Trust Company Profile

(Get Rating)

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.

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

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