Essex Property Trust, Inc. (NYSE:ESS) Shares Bought by Tower Research Capital LLC TRC

Tower Research Capital LLC TRC boosted its stake in shares of Essex Property Trust, Inc. (NYSE:ESSFree Report) by 251.9% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 12,051 shares of the real estate investment trust’s stock after purchasing an additional 8,626 shares during the period. Tower Research Capital LLC TRC’s holdings in Essex Property Trust were worth $2,988,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ESS. Norges Bank purchased a new stake in shares of Essex Property Trust during the 4th quarter worth about $675,183,000. Daiwa Securities Group Inc. boosted its stake in shares of 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 in the last quarter. Russell Investments Group Ltd. boosted its stake in shares of Essex Property Trust by 119.3% during the 4th quarter. Russell Investments Group Ltd. now owns 412,721 shares of the real estate investment trust’s stock worth $102,602,000 after acquiring an additional 224,554 shares in the last quarter. Wellington Management Group LLP boosted its stake in shares of Essex Property Trust by 5,069.7% during the 3rd quarter. Wellington Management Group LLP now owns 208,651 shares of the real estate investment trust’s stock worth $44,253,000 after acquiring an additional 204,615 shares in the last quarter. Finally, Ameriprise Financial Inc. boosted its stake in shares of Essex Property Trust by 13.0% during the 3rd quarter. Ameriprise Financial Inc. now owns 776,149 shares of the real estate investment trust’s stock worth $164,233,000 after acquiring an additional 89,198 shares in the last quarter. 96.51% of the stock is owned by institutional investors and hedge funds.

Essex Property Trust Stock Down 0.1 %

Shares of NYSE ESS opened at $268.07 on Friday. The company has a 50 day simple moving average of $251.42 and a 200-day simple moving average of $241.57. The company has a market capitalization of $17.21 billion, a P/E ratio of 32.77, a P/E/G ratio of 3.77 and a beta of 0.84. The company has a debt-to-equity ratio of 1.14, a current ratio of 3.19 and a quick ratio of 3.19. Essex Property Trust, Inc. has a 1 year low of $203.85 and a 1 year high of $269.36.

Essex Property Trust Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, July 12th. Investors of record on Friday, June 28th will be issued a $2.45 dividend. The ex-dividend date is Friday, June 28th. This represents a $9.80 annualized dividend and a yield of 3.66%. Essex Property Trust’s dividend payout ratio (DPR) is presently 119.80%.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. UBS Group raised their price target on shares of Essex Property Trust from $250.00 to $261.00 and gave the company a “neutral” rating in a research note on Tuesday, May 14th. Mizuho raised their price target on shares of Essex Property Trust from $250.00 to $266.00 and gave the company a “buy” rating in a research note on Thursday, May 30th. Bank of America raised shares of Essex Property Trust from a “neutral” rating to a “buy” rating and raised their price target for the company from $250.00 to $275.00 in a research note on Monday, April 1st. Scotiabank raised their target price on shares of Essex Property Trust from $256.00 to $283.00 and gave the stock a “sector outperform” rating in a research note on Tuesday, May 14th. Finally, Wells Fargo & Company raised their target price on shares of Essex Property Trust from $232.00 to $269.00 and gave the stock an “equal weight” rating in a research note on Friday, May 31st. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $257.33.

Read Our Latest Research Report on ESS

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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