Panagora Asset Management Inc. decreased its holdings in shares of Essex Property Trust, Inc. (NYSE:ESS – Free Report) by 21.5% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 2,942 shares of the real estate investment trust’s stock after selling 805 shares during the period. Panagora Asset Management Inc.’s holdings in Essex Property Trust were worth $729,000 at the end of the most recent reporting period.
A number of other institutional investors have also added to or reduced their stakes in ESS. Lindbrook Capital LLC increased its position in Essex Property Trust by 111.5% during the 4th quarter. Lindbrook Capital LLC now owns 110 shares of the real estate investment trust’s stock valued at $27,000 after purchasing an additional 58 shares during the period. Bruce G. Allen Investments LLC purchased a new position in shares of Essex Property Trust in the 4th quarter worth approximately $41,000. Bear Mountain Capital Inc. purchased a new position in shares of Essex Property Trust in the 4th quarter worth approximately $55,000. Blue Trust Inc. grew its position in shares of Essex Property Trust by 645.2% in the 4th quarter. Blue Trust Inc. now owns 231 shares of the real estate investment trust’s stock worth $57,000 after buying an additional 200 shares during the last quarter. Finally, Tobam purchased a new position in shares of Essex Property Trust in the 4th quarter worth approximately $60,000. Hedge funds and other institutional investors own 96.51% of the company’s stock.
Essex Property Trust Price Performance
Essex Property Trust stock opened at $257.97 on Friday. The company has a fifty day simple moving average of $246.94 and a 200-day simple moving average of $237.55. 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 $16.56 billion, a price-to-earnings ratio of 31.54, a PEG ratio of 3.81 and a beta of 0.79. Essex Property Trust, Inc. has a 52-week low of $203.85 and a 52-week high of $269.23.
Essex Property Trust Dividend Announcement
The company also recently announced 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. This represents a $9.80 dividend on an annualized basis and a yield of 3.80%. The ex-dividend date is Friday, June 28th. Essex Property Trust’s dividend payout ratio (DPR) is presently 119.80%.
Analysts Set New Price Targets
A number of research analysts have recently issued reports on the stock. Stifel Nicolaus lifted their price objective 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. The Goldman Sachs Group reaffirmed a “sell” rating and issued a $227.00 price objective on shares of Essex Property Trust in a research report on Thursday, February 22nd. Wedbush lifted their price objective on shares of Essex Property Trust from $240.00 to $264.00 and gave the stock a “neutral” rating in a research report on Monday, May 6th. StockNews.com upgraded shares of Essex Property Trust from a “sell” rating to a “hold” rating in a research note on Wednesday, May 1st. Finally, Bank of America upgraded shares of Essex Property Trust from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $250.00 to $275.00 in a research note on Monday, April 1st. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $255.28.
View Our Latest Analysis on ESS
Essex Property Trust Profile
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.
See Also
Want to see what other hedge funds are holding ESS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Essex Property Trust, Inc. (NYSE:ESS – Free Report).
Receive News & Ratings for Essex Property Trust Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Essex Property Trust and related companies with MarketBeat.com’s FREE daily email newsletter.
