Westpac Banking Corp Buys 120 Shares of Essex Property Trust, Inc. (NYSE:ESS)

Westpac Banking Corp grew its stake in shares of Essex Property Trust, Inc. (NYSE:ESSFree Report) by 0.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 21,127 shares of the real estate investment trust’s stock after buying an additional 120 shares during the period. Westpac Banking Corp’s holdings in Essex Property Trust were worth $5,238,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. SG Americas Securities LLC lifted its stake in Essex Property Trust by 632.8% in the 4th quarter. SG Americas Securities LLC now owns 15,001 shares of the real estate investment trust’s stock valued at $3,719,000 after acquiring an additional 12,954 shares in the last quarter. Daiwa Securities Group Inc. lifted 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 worth $132,639,000 after purchasing an additional 357,268 shares in the last quarter. Kingswood Wealth Advisors LLC acquired a new position in Essex Property Trust during the fourth quarter worth $3,304,000. JLP Asset Management LLC bought a new position in Essex Property Trust in the fourth quarter valued at $2,802,000. Finally, Mariner LLC increased its stake in Essex Property Trust by 16.2% in the 3rd quarter. Mariner LLC now owns 5,063 shares of the real estate investment trust’s stock valued at $1,074,000 after buying an additional 704 shares during the last quarter. 96.51% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ESS has been the topic of a number of recent research reports. Piper Sandler lifted their target price on Essex Property Trust from $291.00 to $315.00 and gave the company an “overweight” rating in a research report on Monday, May 6th. Stifel Nicolaus upped their price target on shares of Essex Property Trust from $239.50 to $243.50 and gave the stock a “hold” rating in a research report on Wednesday, May 1st. UBS Group lifted their price objective on shares of Essex Property Trust from $250.00 to $261.00 and gave the company a “neutral” rating in a research report on Tuesday. Barclays upped their target price on shares of Essex Property Trust from $224.00 to $225.00 and gave the company an “underweight” rating in a report on Tuesday, February 20th. Finally, Wedbush upped their price objective on Essex Property Trust from $240.00 to $264.00 and gave the company a “neutral” rating in a research note on Monday, May 6th. Three research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, Essex Property Trust presently has a consensus rating of “Hold” and an average target price of $252.83.

Read Our Latest Report on ESS

Essex Property Trust Price Performance

Shares of ESS stock traded up $0.50 on Wednesday, hitting $265.47. 115,071 shares of the company’s stock were exchanged, compared to its average volume of 392,322. Essex Property Trust, Inc. has a 12 month low of $203.85 and a 12 month high of $269.23. The company has a debt-to-equity ratio of 1.14, a current ratio of 3.19 and a quick ratio of 3.19. The company has a 50 day moving average of $243.87 and a 200 day moving average of $235.36. The stock has a market cap of $17.05 billion, a P/E ratio of 32.77, a price-to-earnings-growth ratio of 3.79 and a beta of 0.79.

Essex Property Trust Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, April 12th. Stockholders of record on Friday, March 29th were paid a $2.45 dividend. This is an increase from Essex Property Trust’s previous quarterly dividend of $2.31. This represents a $9.80 dividend on an annualized basis and a dividend yield of 3.69%. The ex-dividend date was Wednesday, March 27th. Essex Property Trust’s dividend payout ratio (DPR) is presently 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.

Featured Articles

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

Receive News & Ratings for Essex Property Trust Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Essex Property Trust and related companies with MarketBeat.com's FREE daily email newsletter.