Pacer Advisors Inc. Has $1.04 Million Position in Essex Property Trust, Inc. (NYSE:ESS)

Pacer Advisors Inc. reduced its holdings in Essex Property Trust, Inc. (NYSE:ESSFree Report) by 33.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,183 shares of the real estate investment trust’s stock after selling 2,133 shares during the period. Pacer Advisors Inc.’s holdings in Essex Property Trust were worth $1,037,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of ESS. Norges Bank acquired a new position in Essex Property Trust in the fourth quarter valued at approximately $476,588,000. Cohen & Steers Inc. lifted its holdings in 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 valued at $509,808,000 after buying an additional 1,151,338 shares during the period. State Street Corp increased its stake in 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 valued at $1,419,056,000 after purchasing an additional 874,625 shares in the last quarter. Millennium Management LLC increased its stake in Essex Property Trust by 213.0% in the fourth quarter. Millennium Management LLC now owns 888,858 shares of the real estate investment trust’s stock valued at $188,367,000 after purchasing an additional 604,863 shares in the last quarter. Finally, Wellington Management Group LLP increased its stake in Essex Property Trust by 5,069.7% in the third quarter. Wellington Management Group LLP now owns 208,651 shares of the real estate investment trust’s stock valued at $44,253,000 after purchasing an additional 204,615 shares in the last quarter. 96.51% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on ESS shares. Jefferies Financial Group raised shares of Essex Property Trust from a “hold” rating to a “buy” rating and upped their target price for the company from $215.00 to $281.00 in a research note on Tuesday, January 2nd. Piper Sandler reaffirmed an “overweight” rating and issued a $291.00 target price on shares of Essex Property Trust in a research note on Tuesday, March 26th. Mizuho raised shares of Essex Property Trust from a “neutral” rating to a “buy” rating and lowered their target price for the company from $255.00 to $250.00 in a research note on Wednesday, February 28th. Barclays upped their target price on shares of Essex Property Trust from $224.00 to $225.00 and gave the company an “underweight” rating in a research note on Tuesday, February 20th. Finally, The Goldman Sachs Group reaffirmed a “sell” rating and issued a $227.00 target price on shares of Essex Property Trust in a research note on Thursday, February 22nd. Four analysts have rated the stock with a sell rating, nine have given a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $245.30.

Get Our Latest Stock Analysis on Essex Property Trust

Essex Property Trust Stock Down 1.7 %

Essex Property Trust stock opened at $235.49 on Wednesday. The company has a market cap of $15.12 billion, a P/E ratio of 37.32, a price-to-earnings-growth ratio of 3.19 and a beta of 0.80. Essex Property Trust, Inc. has a 1-year low of $203.85 and a 1-year high of $252.85. The company has a fifty day simple moving average of $236.12 and a 200 day simple moving average of $228.76. The company has a current ratio of 3.26, a quick ratio of 3.26 and a debt-to-equity ratio of 1.11.

Essex Property Trust Increases Dividend

The firm also recently announced 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. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $9.80 dividend on an annualized basis and a yield of 4.16%. This is an increase from Essex Property Trust’s previous quarterly dividend of $2.31. Essex Property Trust’s dividend payout ratio (DPR) is 155.31%.

About Essex Property Trust

(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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