Lighthouse Investment Partners LLC Makes New Investment in Essex Property Trust, Inc. (NYSE:ESS)

Lighthouse Investment Partners LLC bought a new position in Essex Property Trust, Inc. (NYSE:ESSFree Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 4,500 shares of the real estate investment trust’s stock, valued at approximately $1,116,000.

Other large investors have also bought and sold shares of the company. Cornercap Investment Counsel Inc. grew its position in shares of Essex Property Trust by 2.4% in the fourth quarter. Cornercap Investment Counsel Inc. now owns 1,913 shares of the real estate investment trust’s stock valued at $474,000 after purchasing an additional 45 shares in the last quarter. Commerzbank Aktiengesellschaft FI boosted its stake in Essex Property Trust by 1.8% during the fourth quarter. Commerzbank Aktiengesellschaft FI now owns 2,552 shares of the real estate investment trust’s stock valued at $633,000 after buying an additional 45 shares during the period. Tokio Marine Asset Management Co. Ltd. boosted its stake in Essex Property Trust by 2.8% during the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 1,866 shares of the real estate investment trust’s stock valued at $463,000 after buying an additional 51 shares during the period. Lindbrook Capital LLC boosted its stake in Essex Property Trust by 111.5% during the fourth quarter. Lindbrook Capital LLC now owns 110 shares of the real estate investment trust’s stock valued at $27,000 after buying an additional 58 shares during the period. Finally, Loudon Investment Management LLC lifted its stake in Essex Property Trust by 0.4% during the fourth quarter. Loudon Investment Management LLC now owns 15,817 shares of the real estate investment trust’s stock worth $3,922,000 after purchasing an additional 61 shares during the last quarter. 96.51% of the stock is owned by hedge funds and other institutional investors.

Essex Property Trust Stock Performance

Shares of ESS opened at $269.37 on Tuesday. 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 business’s 50 day moving average price is $252.01 and its 200-day moving average price is $242.17. Essex Property Trust, Inc. has a 52 week low of $203.85 and a 52 week high of $272.48. The stock has a market cap of $17.30 billion, a P/E ratio of 32.93, a P/E/G ratio of 3.76 and a beta of 0.84.

Essex Property Trust Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 24th. Stockholders of record on Friday, June 28th will be given a $2.45 dividend. The ex-dividend date is Friday, June 28th. This represents a $9.80 dividend on an annualized basis and a dividend yield of 3.64%. Essex Property Trust’s dividend payout ratio is currently 119.80%.

Analysts Set New Price Targets

ESS has been the subject of several research analyst reports. Raymond James raised Essex Property Trust from a “market perform” rating to an “outperform” rating and set a $265.00 price target for the company in a research note on Monday, March 18th. Wells Fargo & Company boosted their target price on Essex Property Trust from $232.00 to $269.00 and gave the company an “equal weight” rating in a research note on Friday, May 31st. Mizuho boosted their target price on Essex Property Trust from $250.00 to $266.00 and gave the company a “buy” rating in a research note on Thursday, May 30th. Morgan Stanley boosted their target price on Essex Property Trust from $230.00 to $250.00 and gave the company an “equal weight” rating in a research note on Tuesday, May 14th. Finally, Scotiabank boosted their target price on Essex Property Trust from $256.00 to $283.00 and gave the company a “sector outperform” rating in a research note on Tuesday, May 14th. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, Essex Property Trust presently has a consensus rating of “Hold” and an average price target of $257.33.

Read Our Latest Stock Analysis on ESS

Essex Property Trust Company Profile

(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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