Intech Investment Management LLC Buys Shares of 1,821 Essex Property Trust, Inc. (NYSE:ESS)

Intech Investment Management LLC purchased a new position in Essex Property Trust, Inc. (NYSE:ESSFree Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 1,821 shares of the real estate investment trust’s stock, valued at approximately $452,000.

Other large investors also recently modified their holdings of the company. Nomura Asset Management Co. Ltd. increased its stake in shares of Essex Property Trust by 6.0% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 207,089 shares of the real estate investment trust’s stock worth $51,346,000 after purchasing an additional 11,659 shares in the last quarter. Avantax Planning Partners Inc. purchased a new stake in Essex Property Trust in the fourth quarter worth about $234,000. Commerce Bank raised its stake in shares of Essex Property Trust by 48.4% in the fourth quarter. Commerce Bank now owns 5,807 shares of the real estate investment trust’s stock worth $1,440,000 after buying an additional 1,893 shares during the period. Ontario Teachers Pension Plan Board lifted its position in shares of Essex Property Trust by 10.0% during the 4th quarter. Ontario Teachers Pension Plan Board now owns 4,508 shares of the real estate investment trust’s stock valued at $1,118,000 after buying an additional 409 shares in the last quarter. Finally, Franklin Resources Inc. grew its stake in shares of Essex Property Trust by 10.5% during the 4th quarter. Franklin Resources Inc. now owns 62,067 shares of the real estate investment trust’s stock valued at $15,389,000 after acquiring an additional 5,887 shares during the period. Institutional investors own 96.51% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on ESS. Bank of America upgraded shares of Essex Property Trust from a “neutral” rating to a “buy” rating and upped their price target for the stock from $250.00 to $275.00 in a research report on Monday, April 1st. StockNews.com raised Essex Property Trust from a “sell” rating to a “hold” rating in a research note on Wednesday, May 1st. Mizuho lifted their target price on Essex Property Trust from $250.00 to $266.00 and gave the company a “buy” rating in a research note on Thursday. Royal Bank of Canada upped their price target on Essex Property Trust from $237.00 to $239.00 and gave the stock an “outperform” rating in a research note on Thursday, February 8th. Finally, Piper Sandler lifted their price objective on shares of Essex Property Trust from $291.00 to $315.00 and gave the company an “overweight” rating in a research report on Monday, May 6th. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $256.08.

Read Our Latest Stock Report on Essex Property Trust

Essex Property Trust Stock Up 1.1 %

Shares of ESS opened at $255.60 on Friday. The company has a quick ratio of 3.19, a current ratio of 3.19 and a debt-to-equity ratio of 1.14. Essex Property Trust, Inc. has a 52-week low of $203.85 and a 52-week high of $269.23. The company has a market cap of $16.41 billion, a PE ratio of 31.25, a P/E/G ratio of 3.55 and a beta of 0.79. The business has a fifty day moving average of $248.64 and a 200 day moving average of $239.17.

Essex Property Trust Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 24th. Stockholders of record on Friday, June 28th will be issued a $2.45 dividend. The ex-dividend date of this dividend is Friday, June 28th. This represents a $9.80 annualized dividend and a dividend yield of 3.83%. Essex Property Trust’s payout ratio is 119.80%.

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.

Further Reading

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

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