Essex Property Trust, Inc. (NYSE:ESS) Stake Lowered by Strategic Global Advisors LLC

Strategic Global Advisors LLC cut its holdings in Essex Property Trust, Inc. (NYSE:ESSFree Report) by 40.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,786 shares of the real estate investment trust’s stock after selling 3,225 shares during the period. Strategic Global Advisors LLC’s holdings in Essex Property Trust were worth $1,187,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the business. Nomura Holdings Inc. boosted its holdings in Essex Property Trust by 582.4% in the fourth quarter. Nomura Holdings Inc. now owns 11,389 shares of the real estate investment trust’s stock worth $2,824,000 after purchasing an additional 9,720 shares in the last quarter. Lighthouse Investment Partners LLC bought a new stake in Essex Property Trust in the fourth quarter worth $1,116,000. Sei Investments Co. lifted its position in Essex Property Trust by 23.9% during the 4th quarter. Sei Investments Co. now owns 358,325 shares of the real estate investment trust’s stock worth $88,843,000 after acquiring an additional 69,208 shares during the last quarter. Kettle Hill Capital Management LLC acquired a new position in Essex Property Trust during the 4th quarter worth $11,913,000. Finally, Vinva Investment Management Ltd lifted its position in Essex Property Trust by 15.8% during the 4th quarter. Vinva Investment Management Ltd now owns 3,934 shares of the real estate investment trust’s stock worth $994,000 after acquiring an additional 538 shares during the last quarter. 96.51% of the stock is currently owned by institutional investors.

Essex Property Trust Stock Performance

NYSE:ESS opened at $269.37 on Tuesday. Essex Property Trust, Inc. has a 12-month low of $203.85 and a 12-month high of $272.48. The company has a quick ratio of 3.19, a current ratio of 3.19 and a debt-to-equity ratio of 1.14. The firm has a market capitalization of $17.30 billion, a PE ratio of 32.93, a price-to-earnings-growth ratio of 3.76 and a beta of 0.84. The firm has a 50-day moving average price of $252.01 and a 200 day moving average price of $242.17.

Essex Property Trust Announces Dividend

The company 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 dividend of $2.45 per share. The ex-dividend date of this dividend is Friday, June 28th. This represents a $9.80 annualized dividend and a yield of 3.64%. Essex Property Trust’s dividend payout ratio is 119.80%.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Scotiabank boosted 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 report on Tuesday, May 14th. UBS Group boosted their target price on shares of Essex Property Trust from $250.00 to $261.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 14th. Stifel Nicolaus boosted their target price on shares of Essex Property Trust from $239.50 to $243.50 and gave the stock a “hold” rating in a research report on Wednesday, May 1st. Piper Sandler boosted their target price on shares of Essex Property Trust from $291.00 to $315.00 and gave the stock an “overweight” rating in a research report on Monday, May 6th. Finally, Truist Financial cut their target price on shares of Essex Property Trust from $259.00 to $255.00 and set a “hold” rating for the company in a research report on Tuesday, April 9th. Two 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. According to data from MarketBeat.com, Essex Property Trust currently has an average rating of “Hold” and a consensus target price of $257.33.

Get Our Latest Stock Analysis on Essex Property Trust

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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