Essex Property Trust (NYSE:ESS) PT Raised to $315.00

Essex Property Trust (NYSE:ESS) had its price objective hoisted by Piper Sandler from $291.00 to $315.00 in a research report report published on Monday morning, Benzinga reports. They currently have an overweight rating on the real estate investment trust’s stock.

Other research analysts also recently issued reports about the stock. Wedbush reissued a neutral rating and set a $240.00 price target on shares of Essex Property Trust in a research note on Monday, April 29th. Bank of America upgraded shares of Essex Property Trust from a neutral rating to a buy rating and upped their price target for the company from $250.00 to $275.00 in a research report on Monday, April 1st. Mizuho raised Essex Property Trust from a neutral rating to a buy rating and lowered their target price for the company from $255.00 to $250.00 in a research note on Wednesday, February 28th. The Goldman Sachs Group restated a sell rating and set a $227.00 target price on shares of Essex Property Trust in a report on Thursday, February 22nd. Finally, Truist Financial cut 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 report on Tuesday, April 9th. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of Hold and an average target price of $249.76.

Essex Property Trust Stock Performance

NYSE:ESS opened at $259.58 on Monday. Essex Property Trust has a twelve month low of $203.85 and a twelve month high of $259.78. The company has a quick ratio of 3.19, a current ratio of 3.19 and a debt-to-equity ratio of 1.14. The stock has a market cap of $16.67 billion, a P/E ratio of 31.73, a PEG ratio of 3.67 and a beta of 0.79. The business’s 50-day moving average price is $242.03 and its two-hundred day moving average price is $233.75.

Essex Property Trust Increases Dividend

The firm also recently disclosed 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. The ex-dividend date of this dividend was Wednesday, March 27th. This is an increase from Essex Property Trust’s previous quarterly dividend of $2.31. This represents a $9.80 dividend on an annualized basis and a dividend yield of 3.78%. Essex Property Trust’s dividend payout ratio (DPR) is currently 119.80%.

Institutional Trading of Essex Property Trust

A number of institutional investors have recently made changes to their positions in the business. SG Americas Securities LLC raised its stake in Essex Property Trust by 632.8% in the 4th quarter. SG Americas Securities LLC now owns 15,001 shares of the real estate investment trust’s stock worth $3,719,000 after acquiring an additional 12,954 shares during the last quarter. Daiwa Securities Group Inc. lifted its holdings in shares of Essex Property Trust by 201.1% during the fourth quarter. Daiwa Securities Group Inc. now owns 534,964 shares of the real estate investment trust’s stock worth $132,639,000 after purchasing an additional 357,268 shares during the period. Kingswood Wealth Advisors LLC acquired a new stake in Essex Property Trust during the 4th quarter valued at approximately $3,304,000. JLP Asset Management LLC acquired a new stake in shares of Essex Property Trust in the fourth quarter worth $2,802,000. Finally, Mariner LLC raised its holdings in shares of Essex Property Trust by 16.2% during the third quarter. Mariner LLC now owns 5,063 shares of the real estate investment trust’s stock worth $1,074,000 after purchasing an additional 704 shares during the last quarter. Institutional investors and hedge funds own 96.51% of the company’s stock.

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.