Planned Solutions Inc. Invests $76,000 in Essex Property Trust, Inc. (NYSE:ESS)

Planned Solutions Inc. bought a new stake in Essex Property Trust, Inc. (NYSE:ESS) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 305 shares of the real estate investment trust’s stock, valued at approximately $76,000.

Other large investors have also recently added to or reduced their stakes in the company. Steward Partners Investment Advisory LLC grew its holdings in Essex Property Trust by 100.0% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 120 shares of the real estate investment trust’s stock valued at $25,000 after buying an additional 60 shares during the period. Clear Street Markets LLC boosted its position in shares of Essex Property Trust by 89.4% in the first quarter. Clear Street Markets LLC now owns 125 shares of the real estate investment trust’s stock worth $26,000 after acquiring an additional 59 shares during the last quarter. Pacific Center for Financial Services purchased a new stake in Essex Property Trust in the first quarter valued at approximately $30,000. Advisory Services Network LLC acquired a new position in Essex Property Trust during the first quarter worth approximately $32,000. Finally, Bruce G. Allen Investments LLC purchased a new position in Essex Property Trust during the fourth quarter worth approximately $41,000. 96.51% of the stock is currently owned by hedge funds and other institutional investors.

Essex Property Trust Stock Up 2.6 %

ESS stock opened at $241.41 on Thursday. The firm has a fifty day moving average price of $235.98 and a two-hundred day moving average price of $228.25. The company has a debt-to-equity ratio of 1.11, a current ratio of 3.26 and a quick ratio of 3.26. Essex Property Trust, Inc. has a 1-year low of $198.29 and a 1-year high of $252.85. The firm has a market cap of $15.50 billion, a price-to-earnings ratio of 38.26, a PEG ratio of 3.10 and a beta of 0.79.

Essex Property Trust Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 12th. Investors of record on Friday, March 29th will be given a dividend of $2.45 per share. This represents a $9.80 dividend on an annualized basis and a dividend yield of 4.06%. The ex-dividend date is Wednesday, March 27th. This is an increase from Essex Property Trust’s previous quarterly dividend of $2.31. Essex Property Trust’s dividend payout ratio is currently 146.43%.

Analysts Set New Price Targets

Several analysts have recently issued reports on ESS shares. Royal Bank of Canada boosted their price objective on shares of Essex Property Trust from $237.00 to $239.00 and gave the company an “outperform” rating in a research note on Thursday, February 8th. Barclays upped their price target on Essex Property Trust from $224.00 to $225.00 and gave the stock an “underweight” rating in a research note on Tuesday, February 20th. Deutsche Bank Aktiengesellschaft began coverage on Essex Property Trust in a research note on Tuesday, January 30th. They issued a “hold” rating and a $240.00 price objective on the stock. Raymond James raised shares of Essex Property Trust from a “market perform” rating to an “outperform” rating and set a $265.00 target price for the company in a research report on Monday, March 18th. Finally, Truist Financial lifted their price target on shares of Essex Property Trust from $260.00 to $276.00 and gave the company a “hold” rating in a research report on Tuesday, January 16th. Four research analysts have rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $244.63.

Essex Property Trust Company 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.