StockNews.com lowered shares of Essex Property Trust (NYSE:ESS – Free Report) from a hold rating to a sell rating in a research note published on Tuesday morning.
ESS has been the subject of a number of other reports. Barclays raised their target price on shares of Essex Property Trust from $224.00 to $225.00 and gave the stock an underweight rating in a report on Tuesday, February 20th. Mizuho raised their target price on shares of Essex Property Trust from $232.00 to $256.00 and gave the stock a neutral rating in a report on Wednesday, January 10th. Royal Bank of Canada raised their target price on shares of Essex Property Trust from $237.00 to $239.00 and gave the stock an outperform rating in a report on Thursday, February 8th. Jefferies Financial Group upgraded shares of Essex Property Trust from a hold rating to a buy rating and raised their target price for the stock from $215.00 to $281.00 in a report on Tuesday, January 2nd. Finally, Morgan Stanley raised their price objective on shares of Essex Property Trust from $227.00 to $230.00 and gave the stock an equal weight rating in a research note on Monday. Four investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of Hold and a consensus price target of $242.72.
Get Our Latest Stock Report on Essex Property Trust
Essex Property Trust Trading Up 0.9 %
Shares of NYSE:ESS opened at $227.73 on Tuesday. The stock has a market capitalization of $14.62 billion, a price-to-earnings ratio of 36.09, a PEG ratio of 2.91 and a beta of 0.80. Essex Property Trust has a 1-year low of $195.03 and a 1-year high of $252.85. The company has a debt-to-equity ratio of 1.11, a quick ratio of 2.63 and a current ratio of 2.63. The company has a 50 day moving average price of $238.84 and a 200 day moving average price of $227.80.
Essex Property Trust Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, April 12th. Investors of record on Friday, March 29th will be issued a $2.45 dividend. This represents a $9.80 annualized dividend and a yield of 4.30%. The ex-dividend date is Wednesday, March 27th. This is an increase from Essex Property Trust’s previous quarterly dividend of $2.31. Essex Property Trust’s dividend payout ratio (DPR) is 146.43%.
Institutional Trading of Essex Property Trust
Several hedge funds and other institutional investors have recently bought and sold shares of ESS. Steward Partners Investment Advisory LLC grew its position in Essex Property Trust by 100.0% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 120 shares of the real estate investment trust’s stock worth $25,000 after purchasing an additional 60 shares during the last quarter. Clear Street Markets LLC acquired a new stake in shares of Essex Property Trust during the 4th quarter valued at about $25,000. Lindbrook Capital LLC boosted its position in shares of 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 acquiring an additional 58 shares in the last quarter. Pacific Center for Financial Services acquired a new stake in shares of Essex Property Trust during the 1st quarter valued at about $30,000. Finally, Advisory Services Network LLC acquired a new stake in shares of Essex Property Trust during the 1st quarter valued at about $32,000. 92.93% of the stock is currently owned by institutional investors and hedge funds.
Essex Property Trust Company 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.
Further Reading
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