Loudon Investment Management LLC Acquires 337 Shares of Essex Property Trust, Inc. (NYSE:ESS)

Loudon Investment Management LLC raised its holdings in shares of Essex Property Trust, Inc. (NYSE:ESS) by 2.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 16,093 shares of the real estate investment trust’s stock after acquiring an additional 337 shares during the quarter. Essex Property Trust comprises approximately 2.4% of Loudon Investment Management LLC’s portfolio, making the stock its 13th biggest holding. Loudon Investment Management LLC’s holdings in Essex Property Trust were worth $3,990,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of ESS. Northern Trust Corp raised its stake in shares of Essex Property Trust by 6.1% during the 3rd quarter. Northern Trust Corp now owns 978,639 shares of the real estate investment trust’s stock valued at $207,560,000 after purchasing an additional 55,903 shares during the period. American Century Companies Inc. boosted its position in shares of Essex Property Trust by 9.4% in the third quarter. American Century Companies Inc. now owns 828,191 shares of the real estate investment trust’s stock valued at $175,651,000 after acquiring an additional 71,359 shares during the period. Ameriprise Financial Inc. grew its stake in Essex Property Trust by 13.0% during the third quarter. Ameriprise Financial Inc. now owns 776,149 shares of the real estate investment trust’s stock valued at $164,233,000 after acquiring an additional 89,198 shares in the last quarter. Invesco Ltd. increased its holdings in Essex Property Trust by 5.4% during the 3rd quarter. Invesco Ltd. now owns 643,250 shares of the real estate investment trust’s stock worth $136,427,000 after acquiring an additional 32,706 shares during the period. Finally, Daiwa Securities Group Inc. lifted its stake in Essex Property Trust by 201.1% in the 4th quarter. Daiwa Securities Group Inc. now owns 534,964 shares of the real estate investment trust’s stock worth $132,639,000 after purchasing an additional 357,268 shares in the last quarter. Institutional investors own 96.51% of the company’s stock.

Essex Property Trust Trading Up 1.8 %

Shares of NYSE:ESS traded up $4.33 during midday trading on Thursday, hitting $249.80. 605,047 shares of the stock traded hands, compared to its average volume of 406,795. The company has a quick ratio of 3.26, a current ratio of 3.26 and a debt-to-equity ratio of 1.11. The business’s 50 day moving average is $239.53 and its two-hundred day moving average is $232.44. The stock has a market capitalization of $16.04 billion, a PE ratio of 29.98, a P/E/G ratio of 3.64 and a beta of 0.79. Essex Property Trust, Inc. has a one year low of $203.85 and a one year high of $252.85.

Essex Property Trust Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, April 12th. Shareholders of record on Friday, March 29th were given a dividend of $2.45 per share. This is a positive change from Essex Property Trust’s previous quarterly dividend of $2.31. The ex-dividend date was Wednesday, March 27th. This represents a $9.80 dividend on an annualized basis and a yield of 3.92%. Essex Property Trust’s dividend payout ratio is presently 119.80%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Barclays upped their price target on shares of Essex Property Trust from $224.00 to $225.00 and gave the stock an “underweight” rating in a report on Tuesday, February 20th. Stifel Nicolaus raised their price target on Essex Property Trust from $239.50 to $243.50 and gave the company a “hold” rating in a report on Wednesday. StockNews.com raised Essex Property Trust from a “sell” rating to a “hold” rating in a report on Wednesday. Truist Financial lowered their target price on shares of Essex Property Trust from $259.00 to $255.00 and set a “hold” rating on the stock in a research note on Tuesday, April 9th. Finally, Raymond James raised shares of Essex Property Trust from a “market perform” rating to an “outperform” rating and set a $265.00 price objective for the company in a report on Monday, March 18th. Three research analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $247.24.

About Essex Property Trust

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.