Xponance Inc. Acquires 91 Shares of Essex Property Trust, Inc. (NYSE:ESS)

Xponance Inc. lifted its holdings in shares of Essex Property Trust, Inc. (NYSE:ESS) by 1.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,286 shares of the real estate investment trust’s stock after purchasing an additional 91 shares during the period. Xponance Inc.’s holdings in Essex Property Trust were worth $2,302,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in ESS. Bruce G. Allen Investments LLC bought a new stake in shares of Essex Property Trust during the 4th quarter valued at about $41,000. Bear Mountain Capital Inc. bought a new stake in shares of Essex Property Trust during the 4th quarter valued at about $55,000. Blue Trust Inc. boosted 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 purchasing an additional 200 shares in the last quarter. Tobam bought a new position in Essex Property Trust in the fourth quarter worth approximately $60,000. Finally, Planned Solutions Inc. bought a new position in Essex Property Trust in the fourth quarter worth approximately $76,000. Institutional investors own 96.51% of the company’s stock.

Essex Property Trust Stock Performance

Shares of ESS opened at $239.89 on Tuesday. The company has a current ratio of 3.26, a quick ratio of 3.26 and a debt-to-equity ratio of 1.11. The company has a market capitalization of $15.40 billion, a price-to-earnings ratio of 38.02, a PEG ratio of 3.47 and a beta of 0.80. The stock has a 50 day moving average of $237.58 and a 200 day moving average of $231.20. Essex Property Trust, Inc. has a 12 month low of $203.85 and a 12 month high of $252.85.

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 4.09%. 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 155.31%.

Analyst Ratings Changes

Several brokerages have issued reports on ESS. Bank of America upgraded Essex Property Trust from a “neutral” rating to a “buy” rating and increased their price target for the stock from $250.00 to $275.00 in a report on Monday, April 1st. Piper Sandler reiterated an “overweight” rating and issued a $291.00 price target on shares of Essex Property Trust in a report on Tuesday, March 26th. StockNews.com lowered Essex Property Trust from a “hold” rating to a “sell” rating in a report on Saturday, April 13th. Truist Financial cut their price target on Essex Property Trust from $259.00 to $255.00 and set a “hold” rating on the stock in a report on Tuesday, April 9th. Finally, Mizuho upgraded Essex Property Trust from a “neutral” rating to a “buy” rating and cut their price target for the stock from $255.00 to $250.00 in a report on Wednesday, February 28th. Four 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 stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $245.37.

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 252 apartment communities comprising approximately 62,000 apartment homes with an additional property in active development.