Essex Property Trust (NYSE:ESS) Stock Price Up 1.1%

Essex Property Trust, Inc. (NYSE:ESSGet Rating) shares rose 1.1% during mid-day trading on Friday . The company traded as high as $250.77 and last traded at $250.77. Approximately 814 shares traded hands during mid-day trading, a decline of 100% from the average daily volume of 349,390 shares. The stock had previously closed at $248.06.

Analysts Set New Price Targets

ESS has been the subject of a number of recent research reports. Piper Sandler cut their target price on Essex Property Trust from $340.00 to $320.00 and set an “overweight” rating for the company in a research note on Wednesday, July 20th. Truist Financial raised their target price on Essex Property Trust from $299.00 to $324.00 and gave the stock a “buy” rating in a research note on Monday, August 22nd. Mizuho downgraded Essex Property Trust from a “buy” rating to a “neutral” rating and cut their target price for the stock from $273.00 to $264.00 in a research note on Monday. Stifel Nicolaus lowered their price target on Essex Property Trust from $390.00 to $352.00 in a report on Thursday, June 9th. Finally, BMO Capital Markets cut Essex Property Trust from an “outperform” rating to a “market perform” rating and lowered their price target for the stock from $378.00 to $320.00 in a report on Tuesday, May 31st. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $307.18.

Essex Property Trust Stock Down 0.5 %

The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.30 and a current ratio of 1.30. The company has a market cap of $16.07 billion, a price-to-earnings ratio of 41.97, a price-to-earnings-growth ratio of 2.67 and a beta of 0.79. The business has a 50-day simple moving average of $275.07 and a 200-day simple moving average of $295.35.

Essex Property Trust Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 14th. Shareholders of record on Friday, September 30th will be given a $2.20 dividend. This represents a $8.80 dividend on an annualized basis and a yield of 3.57%. The ex-dividend date of this dividend is Thursday, September 29th. Essex Property Trust’s dividend payout ratio is currently 148.90%.

Institutional Investors Weigh In On Essex Property Trust

A number of hedge funds have recently bought and sold shares of ESS. American International Group Inc. raised its position in Essex Property Trust by 0.5% in the 4th quarter. American International Group Inc. now owns 19,512 shares of the real estate investment trust’s stock valued at $6,873,000 after purchasing an additional 93 shares in the last quarter. Invesco Ltd. raised its position in shares of Essex Property Trust by 6.2% during the 4th quarter. Invesco Ltd. now owns 411,792 shares of the real estate investment trust’s stock worth $145,047,000 after acquiring an additional 23,900 shares in the last quarter. Schroder Investment Management Group raised its position in shares of Essex Property Trust by 3.8% during the 4th quarter. Schroder Investment Management Group now owns 24,305 shares of the real estate investment trust’s stock worth $8,561,000 after acquiring an additional 898 shares in the last quarter. Gotham Asset Management LLC raised its position in shares of Essex Property Trust by 149.5% during the 4th quarter. Gotham Asset Management LLC now owns 1,859 shares of the real estate investment trust’s stock worth $655,000 after acquiring an additional 1,114 shares in the last quarter. Finally, Kayne Anderson Rudnick Investment Management LLC raised its position in shares of Essex Property Trust by 24.1% during the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 5,243 shares of the real estate investment trust’s stock worth $1,847,000 after acquiring an additional 1,018 shares in the last quarter. Institutional investors and hedge funds own 91.57% of the company’s stock.

Essex Property Trust Company Profile

(Get Rating)

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 246 apartment communities comprising approximately 60,000 apartment homes with an additional 6 properties in various stages of active development.

Featured Articles

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.