Commonwealth Equity Services LLC Grows Holdings in Essex Property Trust, Inc. (NYSE:ESS)

Commonwealth Equity Services LLC raised its position in Essex Property Trust, Inc. (NYSE:ESS – Get Rating) by 63.5% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,621 shares of the real estate investment trust’s stock after buying an additional 1,406 shares during the period. Commonwealth Equity Services LLC’s holdings in Essex Property Trust were worth $767,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Bessemer Group Inc. increased its position in shares of Essex Property Trust by 136.1% in the third quarter. Bessemer Group Inc. now owns 255 shares of the real estate investment trust’s stock valued at $61,000 after buying an additional 147 shares in the last quarter. CENTRAL TRUST Co increased its holdings in Essex Property Trust by 51.3% in the 3rd quarter. CENTRAL TRUST Co now owns 295 shares of the real estate investment trust’s stock worth $71,000 after acquiring an additional 100 shares in the last quarter. Guardian Wealth Advisors LLC acquired a new position in Essex Property Trust during the third quarter worth $78,000. Harbor Capital Advisors Inc. lifted its holdings in Essex Property Trust by 21.8% during the fourth quarter. Harbor Capital Advisors Inc. now owns 380 shares of the real estate investment trust’s stock valued at $81,000 after purchasing an additional 68 shares in the last quarter. Finally, Lazard Asset Management LLC lifted its holdings in Essex Property Trust by 25.3% during the first quarter. Lazard Asset Management LLC now owns 243 shares of the real estate investment trust’s stock valued at $83,000 after purchasing an additional 49 shares in the last quarter. Hedge funds and other institutional investors own 91.76% of the company’s stock.

Essex Property Trust Stock Performance

NYSE:ESS opened at $211.22 on Wednesday. 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 market capitalization of $13.56 billion, a P/E ratio of 28.01, a PEG ratio of 2.20 and a beta of 0.75. The company has a 50 day moving average price of $210.71 and a 200 day moving average price of $216.43. Essex Property Trust, Inc. has a fifty-two week low of $195.03 and a fifty-two week high of $300.33.

Essex Property Trust Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, July 14th. Investors 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 4.37%. The ex-dividend date is Thursday, June 29th. Essex Property Trust’s payout ratio is 122.55%.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on ESS shares. Wolfe Research downgraded shares of Essex Property Trust from a “peer perform” rating to an “underperform” rating and set a $204.00 price target for the company. in a research report on Monday, May 15th. Barclays raised their target price on Essex Property Trust from $219.00 to $226.00 and gave the company an “underweight” rating in a research report on Wednesday, March 1st. Truist Financial raised their target price on Essex Property Trust from $250.00 to $255.00 and gave the company a “buy” rating in a research report on Thursday, March 9th. Wells Fargo & Company started coverage on Essex Property Trust in a research report on Wednesday, March 29th. They issued an “underweight” rating and a $208.00 target price on the stock. Finally, 51job restated a “maintains” rating on shares of Essex Property Trust in a research report on Friday, May 19th. Five research analysts have rated the stock with a sell rating, ten have assigned a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $245.18.

Essex Property Trust Company Profile

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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.