Essex Property Trust, Inc. (NYSE:ESS) Shares Bought by Tokio Marine Asset Management Co. Ltd.

Tokio Marine Asset Management Co. Ltd. raised its position in Essex Property Trust, Inc. (NYSE:ESS) by 2.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,866 shares of the real estate investment trust’s stock after acquiring an additional 51 shares during the quarter. Tokio Marine Asset Management Co. Ltd.’s holdings in Essex Property Trust were worth $463,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Lindbrook Capital LLC grew its position in 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 valued at $27,000 after acquiring an additional 58 shares in the last quarter. Bruce G. Allen Investments LLC acquired a new stake in Essex Property Trust in the fourth quarter valued at approximately $41,000. Bear Mountain Capital Inc. acquired a new stake in Essex Property Trust in the fourth quarter valued at approximately $55,000. Blue Trust Inc. grew its position in shares of Essex Property Trust by 645.2% during the fourth quarter. Blue Trust Inc. now owns 231 shares of the real estate investment trust’s stock worth $57,000 after buying an additional 200 shares in the last quarter. Finally, Tobam acquired a new stake in shares of Essex Property Trust during the fourth quarter worth approximately $60,000. Institutional investors and hedge funds own 96.51% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on ESS shares. Piper Sandler reissued an “overweight” rating and set a $291.00 price target on shares of Essex Property Trust in a research report on Tuesday, March 26th. StockNews.com downgraded shares of Essex Property Trust from a “hold” rating to a “sell” rating in a research report on Saturday, April 13th. Morgan Stanley raised their price target 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. The Goldman Sachs Group reissued a “sell” rating and set a $227.00 price target on shares of Essex Property Trust in a research report on Thursday, February 22nd. Finally, Bank of America raised shares of Essex Property Trust from a “neutral” rating to a “buy” rating and raised their price target for the stock from $250.00 to $275.00 in a research report on Monday, April 1st. Four equities research 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’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $245.37.

Essex Property Trust Stock Performance

Shares of NYSE ESS opened at $246.92 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 50-day moving average price is $238.81 and its two-hundred day moving average price is $231.90. Essex Property Trust, Inc. has a 52-week low of $203.85 and a 52-week high of $252.85. The stock has a market capitalization of $15.85 billion, a P/E ratio of 39.13, a P/E/G ratio of 3.65 and a beta of 0.80.

Essex Property Trust Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, April 12th. Shareholders of record on Friday, March 29th were paid a $2.45 dividend. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $9.80 annualized dividend and a dividend yield of 3.97%. This is a positive change from Essex Property Trust’s previous quarterly dividend of $2.31. Essex Property Trust’s dividend payout ratio (DPR) is presently 155.31%.

Essex Property Trust 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.