Janney Montgomery Scott LLC Reduces Holdings in Essex Property Trust, Inc. (NYSE:ESS)

Janney Montgomery Scott LLC reduced its stake in Essex Property Trust, Inc. (NYSE:ESSFree Report) by 3.5% during the fourth quarter, Holdings Channel.com reports. The firm owned 42,522 shares of the real estate investment trust’s stock after selling 1,548 shares during the period. Janney Montgomery Scott LLC’s holdings in Essex Property Trust were worth $10,543,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of the stock. SG Americas Securities LLC increased its stake in shares of Essex Property Trust by 632.8% in the fourth quarter. SG Americas Securities LLC now owns 15,001 shares of the real estate investment trust’s stock worth $3,719,000 after buying an additional 12,954 shares during the period. Daiwa Securities Group Inc. increased its position in shares of Essex Property Trust by 201.1% in the fourth quarter. Daiwa Securities Group Inc. now owns 534,964 shares of the real estate investment trust’s stock valued at $132,639,000 after acquiring an additional 357,268 shares during the period. Kingswood Wealth Advisors LLC bought a new position in shares of Essex Property Trust during the fourth quarter valued at about $3,304,000. Victory Capital Management Inc. raised its stake in shares of Essex Property Trust by 11.1% during the fourth quarter. Victory Capital Management Inc. now owns 49,277 shares of the real estate investment trust’s stock valued at $12,218,000 after acquiring an additional 4,943 shares during the last quarter. Finally, JLP Asset Management LLC purchased a new stake in shares of Essex Property Trust during the fourth quarter worth about $2,802,000. 96.51% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

ESS has been the subject of a number of recent analyst reports. StockNews.com raised Essex Property Trust from a “sell” rating to a “hold” rating in a research report on Wednesday, May 1st. Bank of America raised Essex Property Trust from a “neutral” rating to a “buy” rating and raised their price target for the stock from $250.00 to $275.00 in a research note on Monday, April 1st. Wedbush lifted their price target on shares of Essex Property Trust from $240.00 to $264.00 and gave the company a “neutral” rating in a report on Monday, May 6th. Mizuho upgraded shares of Essex Property Trust from a “neutral” rating to a “buy” rating and decreased their price objective for the stock from $255.00 to $250.00 in a report on Wednesday, February 28th. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of Essex Property Trust in a research note on Tuesday, January 30th. They set a “hold” rating and a $240.00 target price on the stock. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $255.28.

View Our Latest Stock Report on ESS

Essex Property Trust Trading Up 0.6 %

NYSE ESS opened at $266.29 on Friday. Essex Property Trust, Inc. has a 12 month low of $203.85 and a 12 month high of $269.23. The company has a current ratio of 3.19, a quick ratio of 3.19 and a debt-to-equity ratio of 1.14. The stock’s fifty day moving average price is $245.23 and its 200-day moving average price is $236.34. The stock has a market cap of $17.10 billion, a P/E ratio of 32.55, a P/E/G ratio of 3.87 and a beta of 0.79.

Essex Property Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 12th. Shareholders of record on Friday, June 28th will be paid a dividend of $2.45 per share. The ex-dividend date of this dividend is Friday, June 28th. This represents a $9.80 dividend on an annualized basis and a yield of 3.68%. Essex Property Trust’s dividend payout ratio is currently 119.80%.

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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