Sigma Planning Corp Has $284,000 Position in Essex Property Trust, Inc. (NYSE:ESS)

Sigma Planning Corp lowered its holdings in shares of Essex Property Trust, Inc. (NYSE:ESS) by 59.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,146 shares of the real estate investment trust’s stock after selling 1,649 shares during the period. Sigma Planning Corp’s holdings in Essex Property Trust were worth $284,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Lindbrook Capital LLC boosted its stake in shares of Essex Property Trust by 111.5% in the 4th quarter. Lindbrook Capital LLC now owns 110 shares of the real estate investment trust’s stock valued at $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 in the 4th quarter valued at $41,000. Bear Mountain Capital Inc. acquired a new stake in shares of Essex Property Trust in the 4th quarter valued at $55,000. Blue Trust Inc. lifted its position in 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 worth $57,000 after buying an additional 200 shares in the last quarter. Finally, Tobam acquired a new position in Essex Property Trust during the 4th quarter worth about $60,000. Institutional investors and hedge funds own 96.51% of the company’s stock.

Essex Property Trust Price Performance

Shares of ESS opened at $246.92 on Friday. The company has a debt-to-equity ratio of 1.11, a quick ratio of 3.26 and a current ratio of 3.26. The stock has a 50 day simple moving average of $238.81 and a 200 day simple moving average of $231.90. Essex Property Trust, Inc. has a 52-week low of $203.85 and a 52-week high of $252.85. The firm has a market capitalization of $15.85 billion, a PE ratio of 39.13, a P/E/G ratio of 3.65 and a beta of 0.80.

Essex Property Trust Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 12th. Investors of record on Friday, March 29th were given a $2.45 dividend. The ex-dividend date of this dividend was Wednesday, March 27th. This is a positive change from Essex Property Trust’s previous quarterly dividend of $2.31. This represents a $9.80 annualized dividend and a dividend yield of 3.97%. Essex Property Trust’s payout ratio is currently 155.31%.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. Royal Bank of Canada upped their price target on shares of Essex Property Trust from $237.00 to $239.00 and gave the stock an “outperform” rating in a research report on Thursday, February 8th. Deutsche Bank Aktiengesellschaft began coverage on shares of Essex Property Trust in a research report on Tuesday, January 30th. They set a “hold” rating and a $240.00 price target on the stock. Bank of America raised Essex Property Trust from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $250.00 to $275.00 in a report on Monday, April 1st. StockNews.com cut Essex Property Trust from a “hold” rating to a “sell” rating in a report on Saturday, April 13th. Finally, Morgan Stanley boosted their price objective on Essex Property Trust from $227.00 to $230.00 and gave the stock an “equal weight” rating in a report on Monday, February 26th. Four investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $245.37.

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.