Essex Property Trust, Inc. (NYSE:ESS) Stake Lessened by Yousif Capital Management LLC

Yousif Capital Management LLC decreased its holdings in Essex Property Trust, Inc. (NYSE:ESS) by 4.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 38,075 shares of the real estate investment trust’s stock after selling 1,642 shares during the period. Yousif Capital Management LLC owned about 0.06% of Essex Property Trust worth $9,440,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in ESS. CWM LLC raised its holdings in shares of Essex Property Trust by 8.8% during the third quarter. CWM LLC now owns 956 shares of the real estate investment trust’s stock worth $203,000 after acquiring an additional 77 shares in the last quarter. Oak Thistle LLC raised its position in Essex Property Trust by 290.8% during the third quarter. Oak Thistle LLC now owns 8,110 shares of the real estate investment trust’s stock valued at $1,720,000 after acquiring an additional 6,035 shares in the last quarter. Czech National Bank lifted its stake in Essex Property Trust by 47.6% in the third quarter. Czech National Bank now owns 11,217 shares of the real estate investment trust’s stock valued at $2,379,000 after acquiring an additional 3,618 shares during the last quarter. Spirit of America Management Corp NY increased its stake in shares of Essex Property Trust by 3.5% during the 3rd quarter. Spirit of America Management Corp NY now owns 5,836 shares of the real estate investment trust’s stock worth $1,238,000 after purchasing an additional 200 shares during the last quarter. Finally, Handelsbanken Fonder AB raised its holdings in shares of Essex Property Trust by 1.8% during the 3rd quarter. Handelsbanken Fonder AB now owns 35,333 shares of the real estate investment trust’s stock valued at $7,494,000 after purchasing an additional 641 shares in the last quarter. 96.51% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have commented on ESS shares. 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 on the stock. Morgan Stanley increased their price target on Essex Property Trust from $227.00 to $230.00 and gave the company an “equal weight” rating in a report on Monday, February 26th. Raymond James raised Essex Property Trust from a “market perform” rating to an “outperform” rating and set a $265.00 price objective for the company in a research report on Monday, March 18th. Truist Financial dropped 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. Finally, Stifel Nicolaus decreased their price target 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. 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, Essex Property Trust presently has a consensus rating of “Hold” and an average target price of $245.37.

Essex Property Trust Stock Up 2.3 %

Shares of NYSE ESS traded up $5.59 during mid-day trading on Wednesday, hitting $247.74. The company had a trading volume of 395,639 shares, compared to its average volume of 396,201. The firm has a 50-day simple moving average of $237.91 and a two-hundred day simple moving average of $231.38. The company has a market capitalization of $15.91 billion, a PE ratio of 38.24, a price-to-earnings-growth ratio of 3.54 and a beta of 0.80. The company has a current ratio of 3.26, a quick ratio of 3.26 and a debt-to-equity ratio of 1.11. Essex Property Trust, Inc. has a one year low of $203.85 and a one year high of $252.85.

Essex Property Trust Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, April 12th. Stockholders of record on Friday, March 29th were paid a dividend of $2.45 per share. This represents a $9.80 dividend on an annualized basis and a dividend yield of 3.96%. The ex-dividend date of this dividend was Wednesday, March 27th. This is a boost from Essex Property Trust’s previous quarterly dividend of $2.31. Essex Property Trust’s dividend payout ratio (DPR) is currently 155.31%.

About Essex Property Trust

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.