JLP Asset Management LLC Acquires New Holdings in Essex Property Trust, Inc. (NYSE:ESS)

JLP Asset Management LLC bought a new position in shares of Essex Property Trust, Inc. (NYSE:ESS - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 11,300 shares of the real estate investment trust's stock, valued at approximately $2,802,000. Essex Property Trust comprises 3.3% of JLP Asset Management LLC's investment portfolio, making the stock its 17th biggest holding.

Several other institutional investors have also recently added to or reduced their stakes in ESS. Wetherby Asset Management Inc. lifted its stake in Essex Property Trust by 7.6% in the first quarter. Wetherby Asset Management Inc. now owns 635 shares of the real estate investment trust's stock valued at $219,000 after buying an additional 45 shares during the last quarter. Lazard Asset Management LLC increased its holdings in shares of Essex Property Trust by 25.3% in the first quarter. Lazard Asset Management LLC now owns 243 shares of the real estate investment trust's stock valued at $83,000 after purchasing an additional 49 shares during the period. Cambridge Investment Research Advisors Inc. increased its holdings in shares of Essex Property Trust by 2.6% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 1,957 shares of the real estate investment trust's stock valued at $409,000 after purchasing an additional 49 shares during the period. Commonwealth Equity Services LLC increased its holdings in shares of Essex Property Trust by 1.2% in the second quarter. Commonwealth Equity Services LLC now owns 4,405 shares of the real estate investment trust's stock valued at $1,032,000 after purchasing an additional 53 shares during the period. Finally, Clear Street Markets LLC increased its holdings 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 valued at $26,000 after purchasing an additional 59 shares during the period. Hedge funds and other institutional investors own 96.51% of the company's stock.

Essex Property Trust Stock Up 2.4 %

Shares of ESS traded up $5.80 during trading hours on Monday, hitting $243.48. 286,100 shares of the company were exchanged, compared to its average volume of 404,646. The company has a market cap of $15.63 billion, a PE ratio of 38.59, a PEG ratio of 3.51 and a beta of 0.80. The firm's 50 day moving average is $236.30 and its 200-day moving average is $229.30. Essex Property Trust, Inc. has a 52 week low of $203.85 and a 52 week high of $252.85. The company has a debt-to-equity ratio of 1.11, a quick ratio of 3.26 and a current ratio of 3.26.

Essex Property Trust Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 12th. Investors of record on Friday, March 29th will be paid a dividend of $2.45 per share. This is an increase from Essex Property Trust's previous quarterly dividend of $2.31. The ex-dividend date is Wednesday, March 27th. This represents a $9.80 annualized dividend and a yield of 4.02%. Essex Property Trust's dividend payout ratio is presently 155.31%.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on ESS shares. Royal Bank of Canada boosted their target price on Essex Property Trust from $237.00 to $239.00 and gave the company an "outperform" rating in a report on Thursday, February 8th. The Goldman Sachs Group reaffirmed a "sell" rating and set a $227.00 price objective on shares of Essex Property Trust in a report on Thursday, February 22nd. StockNews.com raised Essex Property Trust from a "sell" rating to a "hold" rating in a report on Friday. Raymond James raised Essex Property Trust from a "market perform" rating to an "outperform" rating and set a $265.00 price objective on the stock in a report on Monday, March 18th. Finally, Barclays upped their price objective on Essex Property Trust from $224.00 to $225.00 and gave the stock an "underweight" rating in a report on Tuesday, February 20th. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and seven have given a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $245.30.

Essex Property Trust 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.