Kestra Private Wealth Services LLC Makes New $813,000 Investment in Essex Property Trust, Inc. (NYSE:ESS)

Kestra Private Wealth Services LLC acquired a new stake in Essex Property Trust, Inc. (NYSE:ESS) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 3,250 shares of the real estate investment trust’s stock, valued at approximately $813,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Lindbrook Capital LLC increased its holdings 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 worth $27,000 after purchasing an additional 58 shares in the last quarter. Bruce G. Allen Investments LLC acquired a new stake in shares of Essex Property Trust during the 4th quarter worth approximately $41,000. Bear Mountain Capital Inc. bought a new stake in shares of Essex Property Trust in the 4th quarter valued at $55,000. Blue Trust Inc. lifted its position in shares of Essex Property Trust by 645.2% during the 4th quarter. Blue Trust Inc. now owns 231 shares of the real estate investment trust’s stock valued at $57,000 after acquiring an additional 200 shares during the period. Finally, Tobam acquired a new position in shares of Essex Property Trust during the 4th quarter valued at $60,000. 96.51% of the stock is owned by institutional investors and hedge funds.

Essex Property Trust Trading Up 0.2 %

Shares of ESS stock opened at $250.31 on Friday. The company has a debt-to-equity ratio of 1.14, a quick ratio of 3.26 and a current ratio of 3.19. The company has a market capitalization of $16.07 billion, a price-to-earnings ratio of 30.60, a PEG ratio of 3.67 and a beta of 0.79. Essex Property Trust, Inc. has a 52-week low of $203.85 and a 52-week high of $253.53. The company has a 50-day simple moving average of $240.34 and a two-hundred day simple moving average of $232.77.

Essex Property Trust Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, April 12th. Investors of record on Friday, March 29th were given a dividend of $2.45 per share. This represents a $9.80 dividend on an annualized basis and a dividend yield of 3.92%. This is an increase from Essex Property Trust’s previous quarterly dividend of $2.31. The ex-dividend date of this dividend was Wednesday, March 27th. Essex Property Trust’s dividend payout ratio (DPR) is presently 119.80%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Essex Property Trust in a report on Tuesday, January 30th. They set a “hold” rating and a $240.00 price objective on the stock. Stifel Nicolaus increased their price target on Essex Property Trust from $239.50 to $243.50 and gave the stock a “hold” rating in a report on Wednesday. Wedbush restated a “neutral” rating and set a $240.00 price objective on shares of Essex Property Trust in a report on Monday, April 29th. Bank of America upgraded Essex Property Trust from a “neutral” rating to a “buy” rating and increased their target price for the stock from $250.00 to $275.00 in a report on Monday, April 1st. Finally, Mizuho raised shares of Essex Property Trust from a “neutral” rating to a “buy” rating and reduced their price target for the company from $255.00 to $250.00 in a research report on Wednesday, February 28th. Three analysts have rated the stock with a sell rating, ten have given a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, Essex Property Trust presently has a consensus rating of “Hold” and an average price target of $247.24.

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.