Cerity Partners LLC Has $402,000 Stock Holdings in Essex Property Trust, Inc. (NYSE:ESS)

Cerity Partners LLC boosted its stake in Essex Property Trust, Inc. (NYSE:ESS) by 28.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,623 shares of the real estate investment trust’s stock after purchasing an additional 358 shares during the period. Cerity Partners LLC’s holdings in Essex Property Trust were worth $402,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Bruce G. Allen Investments LLC bought a new position in Essex Property Trust in the 4th quarter valued at approximately $41,000. Blue Trust Inc. lifted its stake in Essex Property Trust by 645.2% in the 4th quarter. Blue Trust Inc. now owns 231 shares of the real estate investment trust’s stock valued at $57,000 after purchasing an additional 200 shares during the last quarter. Tobam bought a new position in Essex Property Trust in the 4th quarter valued at approximately $60,000. Planned Solutions Inc. bought a new position in Essex Property Trust in the 4th quarter valued at approximately $76,000. Finally, Clearstead Advisors LLC lifted its stake in Essex Property Trust by 327.1% in the 3rd quarter. Clearstead Advisors LLC now owns 363 shares of the real estate investment trust’s stock valued at $77,000 after purchasing an additional 278 shares during the last quarter. Institutional investors own 96.51% of the company’s stock.

Essex Property Trust Price Performance

Shares of NYSE ESS opened at $247.21 on Friday. 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 market capitalization of $15.87 billion, a PE ratio of 39.18, a P/E/G ratio of 3.57 and a beta of 0.80. The firm has a fifty day simple moving average of $238.57 and a 200 day simple moving average of $231.60. Essex Property Trust, Inc. has a twelve month low of $203.85 and a twelve month high of $252.85.

Essex Property Trust Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, April 12th. Shareholders of record on Friday, March 29th were issued a $2.45 dividend. This represents a $9.80 dividend on an annualized basis and a yield of 3.96%. This is a boost from Essex Property Trust’s previous quarterly dividend of $2.31. The ex-dividend date of this dividend was Wednesday, March 27th. Essex Property Trust’s dividend payout ratio (DPR) is presently 155.31%.

Analyst Ratings Changes

Several research firms have recently issued reports on ESS. The Goldman Sachs Group reaffirmed a “sell” rating and set a $227.00 price target on shares of Essex Property Trust in a research note on Thursday, February 22nd. Morgan Stanley raised their price target on shares of Essex Property Trust from $227.00 to $230.00 and gave the company an “equal weight” rating in a research note on Monday, February 26th. Piper Sandler reaffirmed an “overweight” rating and set a $291.00 price target on shares of Essex Property Trust in a research note on Tuesday, March 26th. Barclays raised their price target 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, Mizuho raised shares of Essex Property Trust from a “neutral” rating to a “buy” rating and dropped their price target for the company from $255.00 to $250.00 in a research note on Wednesday, February 28th. Four research analysts have rated the stock with a sell rating, nine have issued a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $245.37.

Essex Property Trust Profile

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.