Westpac Banking Corp Raises Holdings in Essex Property Trust, Inc. (NYSE:ESS)

Westpac Banking Corp lifted its stake in Essex Property Trust, Inc. (NYSE:ESSFree Report) by 0.6% in the 4th quarter, HoldingsChannel.com reports. The firm owned 21,127 shares of the real estate investment trust’s stock after acquiring an additional 120 shares during the period. Westpac Banking Corp’s holdings in Essex Property Trust were worth $5,238,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Northern Trust Corp increased its position in shares of Essex Property Trust by 6.1% in the 3rd quarter. Northern Trust Corp now owns 978,639 shares of the real estate investment trust’s stock valued at $207,560,000 after acquiring an additional 55,903 shares during the period. American Century Companies Inc. raised its stake in shares of Essex Property Trust by 9.4% in the third quarter. American Century Companies Inc. now owns 828,191 shares of the real estate investment trust’s stock worth $175,651,000 after purchasing an additional 71,359 shares during the last quarter. Ameriprise Financial Inc. boosted its position in Essex Property Trust by 13.0% in the third quarter. Ameriprise Financial Inc. now owns 776,149 shares of the real estate investment trust’s stock valued at $164,233,000 after buying an additional 89,198 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Essex Property Trust by 2.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 689,608 shares of the real estate investment trust’s stock worth $170,981,000 after buying an additional 18,324 shares during the period. Finally, Invesco Ltd. raised its position in Essex Property Trust by 5.4% during the 3rd quarter. Invesco Ltd. now owns 643,250 shares of the real estate investment trust’s stock worth $136,427,000 after buying an additional 32,706 shares during the last quarter. 96.51% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

ESS has been the topic of several recent research reports. Piper Sandler upped their price objective on shares of Essex Property Trust from $291.00 to $315.00 and gave the company an “overweight” rating in a report on Monday, May 6th. StockNews.com raised Essex Property Trust from a “sell” rating to a “hold” rating in a research report on Wednesday, May 1st. Scotiabank boosted their price objective on Essex Property Trust from $256.00 to $283.00 and gave the company a “sector outperform” rating in a report on Tuesday. The Goldman Sachs Group reaffirmed a “sell” rating and set a $227.00 target price on shares of Essex Property Trust in a report on Thursday, February 22nd. Finally, Morgan Stanley boosted their price target on Essex Property Trust from $230.00 to $250.00 and gave the company an “equal weight” rating in a report on Tuesday. Three research analysts have rated the stock with a sell rating, eleven have given a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $252.83.

View Our Latest Report on Essex Property Trust

Essex Property Trust Price Performance

ESS traded up $0.50 on Wednesday, hitting $265.47. 115,071 shares of the company’s stock were exchanged, compared to its average volume of 392,322. The firm has a 50-day moving average price of $243.87 and a 200-day moving average price of $235.36. The stock has a market cap of $17.05 billion, a price-to-earnings ratio of 32.77, a P/E/G ratio of 3.79 and a beta of 0.79. The company has a current ratio of 3.19, a quick ratio of 3.19 and a debt-to-equity ratio of 1.14. Essex Property Trust, Inc. has a fifty-two week low of $203.85 and a fifty-two week high of $269.23.

Essex Property Trust Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 12th. Investors of record on Friday, March 29th were paid a dividend of $2.45 per share. This represents a $9.80 annualized dividend and a yield of 3.69%. 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 is currently 119.80%.

About Essex Property Trust

(Free Report)

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

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