Rhumbline Advisers raised its position in shares of Essex Property Trust, Inc. (NYSE:ESS – Get Rating) by 9.5% in the second quarter, HoldingsChannel reports. The fund owned 122,779 shares of the real estate investment trust’s stock after acquiring an additional 10,640 shares during the period. Rhumbline Advisers’ holdings in Essex Property Trust were worth $32,108,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors also recently made changes to their positions in the company. CoreCap Advisors LLC bought a new stake in shares of Essex Property Trust during the second quarter worth approximately $27,000. Clear Street Markets LLC boosted its holdings in shares of Essex Property Trust by 434.6% during the second quarter. Clear Street Markets LLC now owns 139 shares of the real estate investment trust’s stock worth $36,000 after acquiring an additional 113 shares during the period. SeaCrest Wealth Management LLC bought a new stake in shares of Essex Property Trust during the second quarter worth approximately $47,000. CX Institutional bought a new stake in shares of Essex Property Trust during the second quarter worth approximately $49,000. Finally, Aaron Wealth Advisors LLC bought a new stake in shares of Essex Property Trust in the first quarter valued at approximately $52,000. Institutional investors own 91.57% of the company’s stock.
Analyst Upgrades and Downgrades
Several equities research analysts recently issued reports on the company. Evercore ISI cut their price target on Essex Property Trust to $290.00 in a research note on Thursday, October 13th. Capital One Financial reiterated an “equal weight” rating on shares of Essex Property Trust in a research note on Thursday, August 18th. Truist Financial boosted their price target on Essex Property Trust from $299.00 to $324.00 and gave the company a “buy” rating in a research note on Monday, August 22nd. Citigroup upgraded Essex Property Trust from a “neutral” rating to a “buy” rating and set a $295.00 price target for the company in a research note on Monday, September 19th. Finally, Barclays cut their target price on Essex Property Trust from $300.00 to $219.00 and set an “underweight” rating for the company in a research note on Thursday, November 10th. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $275.24.
Essex Property Trust Stock Performance
Essex Property Trust Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Friday, October 14th. Investors of record on Friday, September 30th were issued a $2.20 dividend. The ex-dividend date of this dividend was Thursday, September 29th. This represents a $8.80 dividend on an annualized basis and a yield of 4.15%. Essex Property Trust’s payout ratio is 159.42%.
Essex Property Trust Company 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 246 apartment communities comprising approximately 60,000 apartment homes with an additional 6 properties in various stages of active development.
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