Essex Property Trust (NYSE:ESS – Get Free Report) was downgraded by investment analysts at StockNews.com from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Saturday.
ESS has been the topic of several other research reports. Morgan Stanley boosted their price target on shares of Essex Property Trust from $227.00 to $230.00 and gave the company an “equal weight” rating in a research report on Monday, February 26th. Mizuho raised Essex Property Trust from a “neutral” rating to a “buy” rating and decreased their target price for the stock from $255.00 to $250.00 in a research report on Wednesday, February 28th. Jefferies Financial Group upgraded Essex Property Trust from a “hold” rating to a “buy” rating and lifted their price target for the company from $215.00 to $281.00 in a research report on Tuesday, January 2nd. Deutsche Bank Aktiengesellschaft initiated coverage on Essex Property Trust in a report on Tuesday, January 30th. They issued a “hold” rating and a $240.00 price objective for the company. Finally, Royal Bank of Canada raised their price objective on Essex Property Trust from $237.00 to $239.00 and gave the company an “outperform” rating in a research report on Thursday, February 8th. Four analysts have rated the stock with a sell rating, nine have assigned a hold rating and six 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 target price of $245.37.
Check Out Our Latest Research Report on Essex Property Trust
Essex Property Trust Stock Performance
NYSE:ESS opened at $239.29 on Friday. The company has a quick ratio of 3.26, a current ratio of 3.26 and a debt-to-equity ratio of 1.11. The firm’s fifty day simple moving average is $237.02 and its 200 day simple moving average is $229.90. The stock has a market cap of $15.36 billion, a P/E ratio of 37.92, a price-to-earnings-growth ratio of 3.60 and a beta of 0.80. Essex Property Trust has a twelve month low of $203.85 and a twelve month high of $252.85.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently modified their holdings of ESS. Steward Partners Investment Advisory LLC boosted its holdings in Essex Property Trust by 100.0% in the fourth 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 purchased a new position in shares of Essex Property Trust in the 4th quarter worth $25,000. Lindbrook Capital LLC grew its holdings in shares of Essex Property Trust by 111.5% in the fourth quarter. Lindbrook Capital LLC now owns 110 shares of the real estate investment trust’s stock worth $27,000 after acquiring an additional 58 shares during the period. Pacific Center for Financial Services bought a new stake in shares of Essex Property Trust in the first quarter worth $30,000. Finally, Advisory Services Network LLC purchased a new stake in Essex Property Trust during the first quarter valued at $32,000. 96.51% of the stock is owned by institutional investors.
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.
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Bruce G. Allen Investments LLC bought a new stake in Essex Property Trust, Inc. (NYSE:ESS – Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 164 shares of the real estate investment trust’s stock, valued at approximately $41,000.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Steward Partners Investment Advisory LLC increased its holdings in Essex Property Trust by 100.0% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 120 shares of the real estate investment trust’s stock worth $25,000 after buying an additional 60 shares during the last quarter. Clear Street Markets LLC increased its holdings in Essex Property Trust by 89.4% during the first quarter. Clear Street Markets LLC now owns 125 shares of the real estate investment trust’s stock worth $26,000 after buying an additional 59 shares during the last quarter. Pacific Center for Financial Services purchased a new stake in Essex Property Trust during the first quarter worth about $30,000. Advisory Services Network LLC purchased a new stake in Essex Property Trust during the first quarter worth about $32,000. Finally, Lazard Asset Management LLC increased its holdings in Essex Property Trust by 25.3% during the first quarter. Lazard Asset Management LLC now owns 243 shares of the real estate investment trust’s stock worth $83,000 after buying an additional 49 shares during the last quarter. Hedge funds and other institutional investors own 92.93% of the company’s stock.
Essex Property Trust Stock Up 1.9 %
Shares of NYSE ESS opened at $240.59 on Thursday. The company has a quick ratio of 3.26, a current ratio of 3.26 and a debt-to-equity ratio of 1.11. Essex Property Trust, Inc. has a 52 week low of $195.03 and a 52 week high of $252.85. The firm’s fifty day moving average is $236.61 and its 200 day moving average is $228.08. The company has a market cap of $15.45 billion, a price-to-earnings ratio of 38.13, a PEG ratio of 3.09 and a beta of 0.79.
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 paid a $2.45 dividend. This represents a $9.80 annualized dividend and a dividend yield of 4.07%. This is an increase from Essex Property Trust’s previous quarterly dividend of $2.31. The ex-dividend date is Wednesday, March 27th. Essex Property Trust’s payout ratio is presently 146.43%.
Analysts Set New Price Targets
A number of analysts recently issued reports on the stock. Truist Financial raised their price objective on shares of Essex Property Trust from $260.00 to $276.00 and gave the stock a “hold” rating in a report on Tuesday, January 16th. Morgan Stanley increased their target price on shares of Essex Property Trust from $227.00 to $230.00 and gave the stock an “equal weight” rating in a research report on Monday, February 26th. StockNews.com lowered shares of Essex Property Trust from a “hold” rating to a “sell” rating in a research report on Tuesday, February 27th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Essex Property Trust in a research report on Tuesday, January 30th. They set a “hold” rating and a $240.00 target price for the company. Finally, The Goldman Sachs Group reiterated a “sell” rating and set a $227.00 target price on shares of Essex Property Trust in a research report on Thursday, February 22nd. Four research analysts have rated the stock with a sell rating, nine have issued a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $243.58.
Get Our Latest Stock Analysis on ESS
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.
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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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Essex Property Trust (NYSE:ESS – Get Free Report)‘s stock had its “sell” rating reissued by stock analysts at The Goldman Sachs Group in a research note issued on Thursday, Benzinga reports. They presently have a $227.00 price target on the real estate investment trust’s stock. The Goldman Sachs Group’s price objective indicates a potential downside of 1.02% from the stock’s current price.
A number of other analysts also recently commented on ESS. Jefferies Financial Group upgraded shares of Essex Property Trust from a “hold” rating to a “buy” rating and increased their price objective for the company from $215.00 to $281.00 in a report on Tuesday, January 2nd. Truist Financial raised their price target on shares of Essex Property Trust from $260.00 to $276.00 and gave the stock a “hold” rating in a report on Tuesday, January 16th. Royal Bank of Canada raised their price target 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. Stifel Nicolaus cut their price target on shares of Essex Property Trust from $225.00 to $223.00 and set a “hold” rating for the company in a report on Wednesday, February 7th. Finally, Mizuho raised their price target 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. Three investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $243.50.
Read Our Latest Stock Analysis on Essex Property Trust
Essex Property Trust Stock Down 0.3 %
ESS stock opened at $229.33 on Thursday. The company has a market cap of $14.72 billion, a price-to-earnings ratio of 36.34, a PEG ratio of 2.98 and a beta of 0.80. The company has a current ratio of 2.63, a quick ratio of 2.63 and a debt-to-equity ratio of 1.11. Essex Property Trust has a 12 month low of $195.03 and a 12 month high of $252.85. The firm has a 50-day moving average of $239.61 and a two-hundred day moving average of $228.24.
Institutional Investors Weigh In On Essex Property Trust
Large investors have recently modified their holdings of the company. Cambridge Investment Research Advisors Inc. increased its holdings in Essex Property Trust by 24.8% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 2,261 shares of the real estate investment trust’s stock valued at $781,000 after buying an additional 450 shares during the last quarter. Allianz Asset Management GmbH increased its holdings in shares of Essex Property Trust by 1.2% in the 1st quarter. Allianz Asset Management GmbH now owns 88,915 shares of the real estate investment trust’s stock valued at $30,718,000 after acquiring an additional 1,050 shares during the last quarter. Prudential PLC purchased a new position in shares of Essex Property Trust in the 1st quarter valued at about $475,000. Vanguard Group Inc. increased its holdings in shares of Essex Property Trust by 1.8% in the 1st quarter. Vanguard Group Inc. now owns 10,614,782 shares of the real estate investment trust’s stock valued at $3,667,195,000 after acquiring an additional 184,047 shares during the last quarter. Finally, Baird Financial Group Inc. increased its holdings in shares of Essex Property Trust by 3.6% in the 1st quarter. Baird Financial Group Inc. now owns 53,635 shares of the real estate investment trust’s stock valued at $18,530,000 after acquiring an additional 1,847 shares during the last quarter. 92.93% of the stock is owned by hedge funds and other institutional investors.
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
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.