Ritholtz Wealth Management Sells 56 Shares of Essex Property Trust, Inc. (NYSE:ESS)

Ritholtz Wealth Management cut its stake in Essex Property Trust, Inc. (NYSE:ESSFree Report) by 3.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,756 shares of the real estate investment trust’s stock after selling 56 shares during the period. Ritholtz Wealth Management’s holdings in Essex Property Trust were worth $435,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. Vanguard Group Inc. grew its holdings in shares of Essex Property Trust by 1.8% in the first quarter. Vanguard Group Inc. now owns 10,614,782 shares of the real estate investment trust’s stock worth $3,667,195,000 after purchasing an additional 184,047 shares during the last quarter. State Street Corp grew its holdings in shares of Essex Property Trust by 15.0% in the first quarter. State Street Corp now owns 6,712,755 shares of the real estate investment trust’s stock worth $1,419,056,000 after purchasing an additional 874,625 shares during the last quarter. Norges Bank bought a new position in shares of Essex Property Trust in the fourth quarter worth about $476,588,000. Cohen & Steers Inc. grew its holdings in shares of Essex Property Trust by 112.4% in the second quarter. Cohen & Steers Inc. now owns 2,175,976 shares of the real estate investment trust’s stock worth $509,808,000 after purchasing an additional 1,151,338 shares during the last quarter. Finally, Geode Capital Management LLC grew its holdings in shares of Essex Property Trust by 2.0% in the first quarter. Geode Capital Management LLC now owns 1,473,346 shares of the real estate investment trust’s stock worth $307,504,000 after purchasing an additional 29,395 shares during the last quarter. 96.51% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have issued reports on the stock. Piper Sandler reiterated an “overweight” rating and set a $291.00 target price on shares of Essex Property Trust in a report on Tuesday, March 26th. Jefferies Financial Group upgraded shares of Essex Property Trust from a “hold” rating to a “buy” rating and increased their target price for the stock from $215.00 to $281.00 in a report on Tuesday, January 2nd. StockNews.com cut shares of Essex Property Trust from a “hold” rating to a “sell” rating in a report on Tuesday, February 27th. Royal Bank of Canada increased their target price on shares of Essex Property Trust from $237.00 to $239.00 and gave the stock an “outperform” rating in a report on Thursday, February 8th. Finally, Mizuho upgraded shares of Essex Property Trust from a “neutral” rating to a “buy” rating and dropped their target price for the stock from $255.00 to $250.00 in a report on Wednesday, February 28th. Four analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $243.74.

Check Out Our Latest Research Report on ESS

Essex Property Trust Stock Performance

Shares of Essex Property Trust stock opened at $244.81 on Monday. The firm has a market capitalization of $15.72 billion, a P/E ratio of 38.80, a PEG ratio of 3.19 and a beta of 0.79. The company has a quick ratio of 3.26, a current ratio of 3.26 and a debt-to-equity ratio of 1.11. The company has a 50 day moving average price of $236.17 and a 200 day moving average price of $228.62. Essex Property Trust, Inc. has a 52 week low of $201.66 and a 52 week high of $252.85.

Essex Property Trust Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 12th. Investors of record on Friday, March 29th will be given a $2.45 dividend. This is a positive change from Essex Property Trust’s previous quarterly dividend of $2.31. This represents a $9.80 annualized dividend and a dividend yield of 4.00%. The ex-dividend date is Wednesday, March 27th. Essex Property Trust’s dividend payout ratio (DPR) is presently 155.31%.

Essex Property Trust Company Profile

(Free Report)

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 252 apartment communities comprising approximately 62,000 apartment homes with an additional property in active development.

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

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