2,301 Shares in Essex Property Trust, Inc. (NYSE:ESS) Purchased by Connectus Wealth LLC

Connectus Wealth LLC acquired a new position in Essex Property Trust, Inc. (NYSE:ESSGet Rating) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 2,301 shares of the real estate investment trust’s stock, valued at approximately $810,000.

Other large investors also recently added to or reduced their stakes in the company. First Affirmative Financial Network grew its holdings in Essex Property Trust by 4.3% during the 4th quarter. First Affirmative Financial Network now owns 858 shares of the real estate investment trust’s stock valued at $302,000 after buying an additional 35 shares in the last quarter. Silvercrest Asset Management Group LLC grew its holdings in Essex Property Trust by 0.8% during the 4th quarter. Silvercrest Asset Management Group LLC now owns 5,037 shares of the real estate investment trust’s stock valued at $1,774,000 after buying an additional 40 shares in the last quarter. HighTower Trust Services LTA grew its holdings in Essex Property Trust by 5.7% during the 1st quarter. HighTower Trust Services LTA now owns 741 shares of the real estate investment trust’s stock valued at $256,000 after buying an additional 40 shares in the last quarter. RB Capital Management LLC grew its holdings in Essex Property Trust by 1.8% during the 1st quarter. RB Capital Management LLC now owns 2,424 shares of the real estate investment trust’s stock valued at $837,000 after buying an additional 44 shares in the last quarter. Finally, Pendal Group Ltd grew its holdings in Essex Property Trust by 0.4% during the 1st quarter. Pendal Group Ltd now owns 11,550 shares of the real estate investment trust’s stock valued at $3,990,000 after buying an additional 50 shares in the last quarter. Hedge funds and other institutional investors own 96.09% of the company’s stock.

Essex Property Trust Stock Performance

NYSE:ESS opened at $278.75 on Friday. The business has a 50 day moving average of $269.28 and a 200 day moving average of $307.14. The company has a market capitalization of $18.15 billion, a price-to-earnings ratio of 47.17, a PEG ratio of 3.19 and a beta of 0.77. Essex Property Trust, Inc. has a 1-year low of $250.62 and a 1-year high of $363.36. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.30 and a quick ratio of 1.30.

Essex Property Trust Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 15th. Shareholders of record on Thursday, June 30th were given a $2.20 dividend. The ex-dividend date of this dividend was Wednesday, June 29th. This represents a $8.80 annualized dividend and a yield of 3.16%. Essex Property Trust’s payout ratio is currently 148.90%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on ESS. Truist Financial reduced their target price on Essex Property Trust from $323.00 to $299.00 and set a “buy” rating for the company in a report on Friday, June 24th. Jefferies Financial Group dropped their price target on Essex Property Trust from $316.00 to $235.00 and set a “hold” rating for the company in a research report on Thursday, June 30th. Morgan Stanley dropped their price target on Essex Property Trust from $313.00 to $270.00 and set an “equal weight” rating for the company in a research report on Friday, July 15th. Mizuho dropped their price target on Essex Property Trust from $342.00 to $273.00 and set a “buy” rating for the company in a research report on Monday, June 27th. Finally, Piper Sandler dropped their price target on Essex Property Trust from $340.00 to $320.00 and set an “overweight” rating for the company in a research report on Wednesday, July 20th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, Essex Property Trust currently has an average rating of “Hold” and a consensus price target of $312.82.

About Essex Property Trust

(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.

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Institutional Ownership by Quarter for Essex Property Trust (NYSE:ESS)

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