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

Lindbrook Capital LLC grew its holdings in shares of Essex Property Trust, Inc. (NYSE:ESS) by 111.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 110 shares of the real estate investment trust’s stock after purchasing an additional 58 shares during the quarter. Lindbrook Capital LLC’s holdings in Essex Property Trust were worth $27,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Bruce G. Allen Investments LLC acquired a new position in shares of Essex Property Trust during the 4th quarter valued at about $41,000. Bear Mountain Capital Inc. acquired a new position in shares of Essex Property Trust during the 4th quarter valued at about $55,000. Blue Trust Inc. boosted its position in shares of Essex Property Trust by 645.2% during the 4th quarter. Blue Trust Inc. now owns 231 shares of the real estate investment trust’s stock valued at $57,000 after acquiring an additional 200 shares during the last quarter. Tobam acquired a new position in shares of Essex Property Trust during the 4th quarter valued at about $60,000. Finally, Planned Solutions Inc. acquired a new position in shares of Essex Property Trust during the 4th quarter valued at about $76,000. Institutional investors and hedge funds own 96.51% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on ESS shares. Truist Financial decreased 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 report on Tuesday, April 9th. Stifel Nicolaus decreased their target price on shares of Essex Property Trust from $225.00 to $223.00 and set a “hold” rating on the stock in a research report on Wednesday, February 7th. Bank of America upgraded shares of Essex Property Trust from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $250.00 to $275.00 in a research note on Monday, April 1st. Deutsche Bank Aktiengesellschaft began coverage on shares of Essex Property Trust in a research note on Tuesday, January 30th. They set a “hold” rating and a $240.00 price target on the stock. Finally, Jefferies Financial Group upgraded shares of Essex Property Trust from a “hold” rating to a “buy” rating and increased their price target for the company from $215.00 to $281.00 in a research note on Tuesday, January 2nd. Four investment analysts have rated the stock with a sell rating, nine have assigned 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 price target of $245.37.

Essex Property Trust Price Performance

ESS stock opened at $246.92 on Friday. The company has a current ratio of 3.26, a quick ratio of 3.26 and a debt-to-equity ratio of 1.11. The business has a 50 day simple moving average of $238.81 and a 200-day simple moving average of $231.80. Essex Property Trust, Inc. has a twelve month low of $203.85 and a twelve month high of $252.85. The company has a market capitalization of $15.85 billion, a P/E ratio of 39.13, a PEG ratio of 3.66 and a beta of 0.80.

Essex Property Trust Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, April 12th. Investors of record on Friday, March 29th were issued a dividend of $2.45 per share. 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. This represents a $9.80 annualized dividend and a dividend yield of 3.97%. Essex Property Trust’s dividend payout ratio (DPR) is currently 155.31%.

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.