Stifel Financial Corp Decreases Stock Position in Essex Property Trust, Inc. (NYSE:ESS)

Stifel Financial Corp trimmed its position in shares of Essex Property Trust, Inc. (NYSE:ESSFree Report) by 2.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 27,732 shares of the real estate investment trust’s stock after selling 718 shares during the period. Stifel Financial Corp’s holdings in Essex Property Trust were worth $6,876,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in ESS. Cornercap Investment Counsel Inc. grew its stake in shares of Essex Property Trust by 2.4% during the fourth quarter. Cornercap Investment Counsel Inc. now owns 1,913 shares of the real estate investment trust’s stock valued at $474,000 after acquiring an additional 45 shares in the last quarter. Commerzbank Aktiengesellschaft FI raised its position in shares of Essex Property Trust by 1.8% in the 4th quarter. Commerzbank Aktiengesellschaft FI now owns 2,552 shares of the real estate investment trust’s stock valued at $633,000 after purchasing an additional 45 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. boosted its stake in shares of Essex Property Trust by 2.8% during the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 1,866 shares of the real estate investment trust’s stock valued at $463,000 after buying an additional 51 shares during the last quarter. Lindbrook Capital LLC grew its position in shares of Essex Property Trust by 111.5% during the fourth quarter. Lindbrook Capital LLC now owns 110 shares of the real estate investment trust’s stock worth $27,000 after buying an additional 58 shares in the last quarter. Finally, Loudon Investment Management LLC increased its stake in shares of Essex Property Trust by 0.4% in the fourth quarter. Loudon Investment Management LLC now owns 15,817 shares of the real estate investment trust’s stock worth $3,922,000 after buying an additional 61 shares during the last quarter. Institutional investors and hedge funds own 96.51% of the company’s stock.

Essex Property Trust Price Performance

Shares of NYSE ESS opened at $268.07 on Friday. The firm’s 50-day simple moving average is $251.42 and its 200 day simple moving average is $241.37. The stock 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 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 fifty-two week low of $203.85 and a fifty-two week high of $269.36.

Essex Property Trust Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 24th. Stockholders 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 dividend 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

Several research analysts have weighed in on the stock. Raymond James raised shares of Essex Property Trust from a “market perform” rating to an “outperform” rating and set a $265.00 price objective for the company in a report on Monday, March 18th. Morgan Stanley boosted their price objective on Essex Property Trust from $230.00 to $250.00 and gave the company an “equal weight” rating in a report on Tuesday, May 14th. UBS Group increased their target price on Essex Property Trust from $250.00 to $261.00 and gave the stock a “neutral” rating in a report on Tuesday, May 14th. The Goldman Sachs Group reiterated a “sell” rating and issued a $227.00 price target on shares of Essex Property Trust in a report on Thursday, February 22nd. Finally, Scotiabank lifted their price objective on shares of Essex Property Trust from $256.00 to $283.00 and gave the stock a “sector outperform” rating in a report on Tuesday, May 14th. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $257.33.

View Our Latest Research Report on ESS

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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