StockNews.com upgraded shares of Essex Property Trust (NYSE:ESS – Get Rating) from a sell rating to a hold rating in a research note published on Monday morning.
Other equities research analysts have also issued reports about the stock. JPMorgan Chase & Co. lowered shares of Essex Property Trust from an overweight rating to a neutral rating and cut their price objective for the company from $284.00 to $267.00 in a report on Friday, December 16th. Piper Sandler lowered shares of Essex Property Trust from an overweight rating to a neutral rating and cut their target price for the company from $297.00 to $250.00 in a report on Friday, October 28th. KeyCorp cut their target price on shares of Essex Property Trust from $314.00 to $240.00 and set an overweight rating for the company in a report on Wednesday, December 7th. UBS Group assumed coverage on shares of Essex Property Trust in a report on Thursday, December 15th. They issued a neutral rating and a $226.00 target price for the company. Finally, Mizuho cut their target price on shares of Essex Property Trust from $264.00 to $221.00 and set a neutral rating for the company in a report on Thursday, November 10th. Three equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of Hold and a consensus target price of $254.85.
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Essex Property Trust Trading Up 0.4 %
Shares of ESS opened at $217.59 on Monday. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.13 and a quick ratio of 1.13. Essex Property Trust has a 1 year low of $205.24 and a 1 year high of $363.36. The company has a 50 day simple moving average of $214.50 and a two-hundred day simple moving average of $239.95. The firm has a market cap of $14.09 billion, a P/E ratio of 39.42, a price-to-earnings-growth ratio of 1.96 and a beta of 0.72.
Essex Property Trust Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, January 13th. Stockholders of record on Tuesday, January 3rd were given a dividend of $2.20 per share. The ex-dividend date of this dividend was Friday, December 30th. This represents a $8.80 annualized dividend and a dividend yield of 4.04%. Essex Property Trust's dividend payout ratio (DPR) is 159.42%.
Insider Transactions at Essex Property Trust
In other news, Director Amal M. Johnson acquired 500 shares of the firm's stock in a transaction that occurred on Friday, December 2nd. The stock was purchased at an average cost of $218.44 per share, for a total transaction of $109,220.00. Following the completion of the acquisition, the director now directly owns 2,000 shares of the company's stock, valued at approximately $436,880. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 3.70% of the company's stock.
Institutional Trading of Essex Property Trust
Several institutional investors and hedge funds have recently made changes to their positions in ESS. CoreCap Advisors LLC bought a new stake in shares of Essex Property Trust in the second quarter valued at about $27,000. Clear Street Markets LLC grew its stake in Essex Property Trust by 434.6% in the second quarter. Clear Street Markets LLC now owns 139 shares of the real estate investment trust's stock valued at $36,000 after purchasing an additional 113 shares during the last quarter. SeaCrest Wealth Management LLC purchased a new position in Essex Property Trust in the second quarter valued at about $47,000. CX Institutional purchased a new position in Essex Property Trust in the second quarter valued at about $49,000. Finally, Bessemer Group Inc. grew its stake in Essex Property Trust by 136.1% in the third quarter. Bessemer Group Inc. now owns 255 shares of the real estate investment trust's stock valued at $61,000 after purchasing an additional 147 shares during the last quarter. 91.76% of the stock is currently owned by institutional investors.
Essex Property Trust Company Profile
(Get Rating)
Essex Property Trust, Inc operates as a real estate investment trust. It engages in the ownership, operation, management, acquisition, development, and redevelopment of predominantly apartment communities. The company was founded by George M. Marcus in 1971 and is headquartered in San Mateo, CA.
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