Cohen & Steers Inc. Purchases 730,141 Shares of Essex Property Trust, Inc. (NYSE:ESS)

Cohen & Steers Inc. lifted its position in shares of Essex Property Trust, Inc. (NYSE:ESSFree Report) by 31.2% during the fourth quarter, HoldingsChannel reports. The firm owned 3,072,004 shares of the real estate investment trust’s stock after buying an additional 730,141 shares during the quarter. Essex Property Trust comprises 1.5% of Cohen & Steers Inc.’s portfolio, making the stock its 19th largest holding. Cohen & Steers Inc.’s holdings in Essex Property Trust were worth $761,760,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ESS. Avantax Advisory Services Inc. boosted its position in shares of Essex Property Trust by 12.8% during the third quarter. Avantax Advisory Services Inc. now owns 1,338 shares of the real estate investment trust’s stock worth $284,000 after purchasing an additional 152 shares in the last quarter. Pathstone Family Office LLC lifted its position in Essex Property Trust by 106.1% in the 3rd quarter. Pathstone Family Office LLC now owns 2,424 shares of the real estate investment trust’s stock valued at $517,000 after acquiring an additional 1,248 shares in the last quarter. HighTower Advisors LLC lifted its position in Essex Property Trust by 3.6% in the 3rd quarter. HighTower Advisors LLC now owns 13,274 shares of the real estate investment trust’s stock valued at $2,808,000 after acquiring an additional 456 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its position in Essex Property Trust by 15.3% in the 3rd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 12,905 shares of the real estate investment trust’s stock valued at $2,737,000 after acquiring an additional 1,711 shares in the last quarter. Finally, Mizuho Markets Americas LLC bought a new stake in Essex Property Trust in the 3rd quarter valued at $2,848,000. 96.51% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently commented on ESS. Wedbush boosted their price objective on shares of Essex Property Trust from $240.00 to $264.00 and gave the company a “neutral” rating in a research report on Monday, May 6th. StockNews.com raised shares of Essex Property Trust from a “sell” rating to a “hold” rating in a research report on Wednesday, May 1st. Stifel Nicolaus boosted their price objective on shares of Essex Property Trust from $239.50 to $243.50 and gave the company a “hold” rating in a research report on Wednesday, May 1st. Barclays lifted their price target on shares of Essex Property Trust from $224.00 to $225.00 and gave the company an “underweight” rating in a research note on Tuesday, February 20th. Finally, Piper Sandler lifted their price target on shares of Essex Property Trust from $291.00 to $315.00 and gave the company an “overweight” rating in a research note on Monday, May 6th. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $257.33.

Get Our Latest Report on Essex Property Trust

Essex Property Trust Stock Performance

ESS traded up $5.80 on Wednesday, reaching $271.44. The company had a trading volume of 291,680 shares, compared to its average volume of 377,213. Essex Property Trust, Inc. has a fifty-two week low of $203.85 and a fifty-two week high of $273.66. The stock has a market cap of $17.43 billion, a P/E ratio of 33.18, a P/E/G ratio of 3.78 and a beta of 0.84. The company’s fifty day moving average is $253.30 and its 200 day moving average is $242.74. The company has a debt-to-equity ratio of 1.14, a quick ratio of 3.19 and a current ratio of 3.19.

Essex Property Trust Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 24th. Investors of record on Friday, June 28th will be paid a $2.45 dividend. 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 3.61%. Essex Property Trust’s dividend payout ratio (DPR) is currently 119.80%.

Essex Property Trust 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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Want to see what other hedge funds are holding ESS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Essex Property Trust, Inc. (NYSE:ESSFree Report).

Institutional Ownership by Quarter for Essex Property Trust (NYSE:ESS)

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