FourThought Financial Partners LLC Lowers Stock Position in Essex Property Trust, Inc. (NYSE:ESS)

FourThought Financial Partners LLC trimmed its stake in Essex Property Trust, Inc. (NYSE:ESS) by 2.8% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 4,383 shares of the real estate investment trust’s stock after selling 125 shares during the period. FourThought Financial Partners LLC’s holdings in Essex Property Trust were worth $1,087,000 as of its most recent filing with the SEC.

Other large investors have also recently made changes to their positions in the company. Loudon Investment Management LLC raised its position in Essex Property Trust by 2.1% in the fourth quarter. Loudon Investment Management LLC now owns 16,093 shares of the real estate investment trust’s stock valued at $3,990,000 after purchasing an additional 337 shares during the period. Amalgamated Bank grew its stake in shares of Essex Property Trust by 0.7% in the fourth quarter. Amalgamated Bank now owns 16,282 shares of the real estate investment trust’s stock valued at $4,037,000 after buying an additional 108 shares in the last quarter. Natixis Advisors L.P. raised its holdings in shares of Essex Property Trust by 3.9% in the 4th quarter. Natixis Advisors L.P. now owns 22,295 shares of the real estate investment trust’s stock valued at $5,527,000 after buying an additional 830 shares during the period. New York Life Investment Management LLC lifted its stake in Essex Property Trust by 70.1% during the 4th quarter. New York Life Investment Management LLC now owns 19,663 shares of the real estate investment trust’s stock worth $4,875,000 after acquiring an additional 8,105 shares in the last quarter. Finally, Victory Capital Management Inc. boosted its holdings 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 valued at $12,218,000 after acquiring an additional 4,943 shares during the period. 96.51% of the stock is currently owned by institutional investors and hedge funds.

Essex Property Trust Stock Up 0.2 %

ESS stock traded up $0.51 during trading on Friday, hitting $250.31. 399,522 shares of the company’s stock were exchanged, compared to its average volume of 396,183. The business has a 50-day moving average price of $240.34 and a two-hundred day moving average price of $232.99. The company has a current ratio of 3.19, a quick ratio of 3.26 and a debt-to-equity ratio of 1.14. The stock has a market capitalization of $16.07 billion, a price-to-earnings ratio of 30.60, a PEG ratio of 3.67 and a beta of 0.79. Essex Property Trust, Inc. has a 52-week low of $203.85 and a 52-week high of $253.53.

Essex Property Trust Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 12th. Stockholders of record on Friday, March 29th were given a dividend of $2.45 per share. This represents a $9.80 annualized dividend and a dividend yield of 3.92%. The ex-dividend date of this dividend was Wednesday, March 27th. This is an increase from Essex Property Trust’s previous quarterly dividend of $2.31. Essex Property Trust’s payout ratio is currently 119.80%.

Analysts Set New Price Targets

A number of analysts have issued reports on the stock. Raymond James upgraded shares of Essex Property Trust from a “market perform” rating to an “outperform” rating and set a $265.00 price target on the stock in a research note on Monday, March 18th. Truist Financial cut their target price on shares of Essex Property Trust from $259.00 to $255.00 and set a “hold” rating on the stock in a research note on Tuesday, April 9th. Royal Bank of Canada raised their price target on shares of Essex Property Trust from $237.00 to $239.00 and gave the company an “outperform” rating in a research report on Thursday, February 8th. The Goldman Sachs Group reaffirmed a “sell” rating and set a $227.00 price objective on shares of Essex Property Trust in a research report on Thursday, February 22nd. Finally, Morgan Stanley increased their price objective on Essex Property Trust from $227.00 to $230.00 and gave the company an “equal weight” rating in a research note on Monday, February 26th. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $247.24.

About Essex Property Trust

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.