Aberdeen Group plc increased its holdings in Essex Property Trust, Inc. (NYSE:ESS – Free Report) by 5.1% during the second quarter, Holdings Channel.com reports. The firm owned 202,798 shares of the real estate investment trust’s stock after acquiring an additional 9,857 shares during the quarter. Aberdeen Group plc’s holdings in Essex Property Trust were worth $56,333,000 at the end of the most recent quarter.
A number of other large investors also recently added to or reduced their stakes in the business. Wealthstar Advisors LLC raised its position in Essex Property Trust by 6.8% in the 2nd quarter. Wealthstar Advisors LLC now owns 5,185 shares of the real estate investment trust’s stock worth $1,470,000 after purchasing an additional 330 shares during the period. Copperwynd Financial LLC raised its position in Essex Property Trust by 6.7% in the 2nd quarter. Copperwynd Financial LLC now owns 842 shares of the real estate investment trust’s stock worth $239,000 after purchasing an additional 53 shares during the period. Optas LLC bought a new stake in Essex Property Trust in the 2nd quarter worth $454,000. KLP Kapitalforvaltning AS grew its holdings in Essex Property Trust by 1.7% in the 2nd quarter. KLP Kapitalforvaltning AS now owns 24,211 shares of the real estate investment trust’s stock worth $6,914,000 after acquiring an additional 400 shares during the last quarter. Finally, SteelPeak Wealth LLC bought a new stake in Essex Property Trust in the 2nd quarter worth $2,232,000. Hedge funds and other institutional investors own 96.51% of the company’s stock.
Essex Property Trust Trading Down 1.2%
ESS opened at $255.94 on Friday. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 1.16. Essex Property Trust, Inc. has a 52 week low of $243.85 and a 52 week high of $316.29. The stock has a market cap of $16.48 billion, a PE ratio of 20.57, a PEG ratio of 6.21 and a beta of 0.81. The business has a 50 day moving average of $263.21 and a 200-day moving average of $275.34.
Essex Property Trust Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th will be given a dividend of $2.57 per share. This represents a $10.28 dividend on an annualized basis and a yield of 4.0%. The ex-dividend date of this dividend is Tuesday, September 30th. Essex Property Trust’s dividend payout ratio (DPR) is 82.64%.
Wall Street Analyst Weigh In
A number of equities research analysts have issued reports on the stock. Cantor Fitzgerald assumed coverage on shares of Essex Property Trust in a report on Wednesday, October 1st. They issued an “overweight” rating and a $300.00 price target on the stock. Barclays cut their price target on shares of Essex Property Trust from $298.00 to $297.00 and set an “equal weight” rating on the stock in a report on Tuesday, September 30th. BNP Paribas Exane lowered Essex Property Trust from an “outperform” rating to a “neutral” rating in a research note on Monday, September 29th. Raymond James Financial upgraded shares of Essex Property Trust from a “market perform” rating to an “outperform” rating and set a $315.00 price target on the stock in a report on Tuesday, June 24th. Finally, BNP Paribas lowered shares of Essex Property Trust from an “outperform” rating to a “hold” rating in a report on Monday, September 29th. Seven investment analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $297.28.
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.
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