CIBC Asset Management Inc Has $2.20 Million Stock Position in Essex Property Trust, Inc. (NYSE:ESS)

CIBC Asset Management Inc cut its holdings in shares of Essex Property Trust, Inc. (NYSE:ESSFree Report) by 4.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 8,852 shares of the real estate investment trust’s stock after selling 397 shares during the quarter. CIBC Asset Management Inc’s holdings in Essex Property Trust were worth $2,195,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. SG Americas Securities LLC boosted its position in Essex Property Trust by 632.8% during the 4th quarter. SG Americas Securities LLC now owns 15,001 shares of the real estate investment trust’s stock worth $3,719,000 after acquiring an additional 12,954 shares during the period. Daiwa Securities Group Inc. boosted its position in Essex Property Trust by 201.1% during the 4th quarter. Daiwa Securities Group Inc. now owns 534,964 shares of the real estate investment trust’s stock worth $132,639,000 after acquiring an additional 357,268 shares during the period. Victory Capital Management Inc. boosted its position in Essex Property Trust by 11.1% during the 4th quarter. Victory Capital Management Inc. now owns 49,277 shares of the real estate investment trust’s stock worth $12,218,000 after acquiring an additional 4,943 shares during the period. Kingswood Wealth Advisors LLC acquired a new stake in Essex Property Trust during the 4th quarter worth about $3,304,000. Finally, JLP Asset Management LLC acquired a new stake in Essex Property Trust during the 4th quarter worth about $2,802,000. 96.51% of the stock is currently owned by institutional investors and hedge funds.

Essex Property Trust Price Performance

Essex Property Trust stock opened at $268.07 on Friday. The company has a debt-to-equity ratio of 1.14, a quick ratio of 3.19 and a current ratio of 3.19. The firm has a market cap of $17.21 billion, a P/E ratio of 32.77, a P/E/G ratio of 3.76 and a beta of 0.84. The business’s fifty day moving average is $251.42 and its two-hundred day moving average is $241.37. Essex Property Trust, Inc. has a 52 week low of $203.85 and a 52 week high of $269.36.

Essex Property Trust Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 24th. Shareholders of record on Friday, June 28th will be paid a $2.45 dividend. This represents a $9.80 dividend on an annualized basis and a yield of 3.66%. The ex-dividend date is Friday, June 28th. Essex Property Trust’s dividend payout ratio is currently 119.80%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on ESS shares. StockNews.com raised Essex Property Trust from a “sell” rating to a “hold” rating in a research note on Wednesday, May 1st. Bank of America upgraded Essex Property Trust from a “neutral” rating to a “buy” rating and lifted their price target for the company from $250.00 to $275.00 in a report on Monday, April 1st. The Goldman Sachs Group reiterated a “sell” rating and set a $227.00 price target on shares of Essex Property Trust in a report on Thursday, February 22nd. Mizuho lifted their price target on Essex Property Trust from $250.00 to $266.00 and gave the company a “buy” rating in a report on Thursday, May 30th. Finally, Scotiabank lifted their price target on Essex Property Trust from $256.00 to $283.00 and gave the company a “sector outperform” rating in a report on Tuesday, May 14th. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $257.33.

Check Out Our Latest Report on Essex Property Trust

Essex Property Trust 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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