Aew Capital Management L P Purchases 23,590 Shares of Essex Property Trust, Inc. (NYSE:ESS)

Aew Capital Management L P lifted its position in Essex Property Trust, Inc. (NYSE:ESS - Free Report) by 8.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 307,744 shares of the real estate investment trust's stock after acquiring an additional 23,590 shares during the quarter. Essex Property Trust accounts for 2.8% of Aew Capital Management L P's portfolio, making the stock its 13th largest position. Aew Capital Management L P owned about 0.48% of Essex Property Trust worth $76,302,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in ESS. Lindbrook Capital LLC increased its position in Essex Property Trust by 111.5% during the 4th quarter. Lindbrook Capital LLC now owns 110 shares of the real estate investment trust's stock valued at $27,000 after purchasing an additional 58 shares during the period. Bruce G. Allen Investments LLC purchased a new position in Essex Property Trust during the 4th quarter valued at about $41,000. Bear Mountain Capital Inc. purchased a new position in Essex Property Trust during the 4th quarter valued at about $55,000. Blue Trust Inc. increased its position in Essex Property Trust by 645.2% during the 4th quarter. Blue Trust Inc. now owns 231 shares of the real estate investment trust's stock valued at $57,000 after purchasing an additional 200 shares during the period. Finally, Tobam purchased a new position in Essex Property Trust during the 4th quarter valued at about $60,000. Institutional investors own 96.51% of the company's stock.

Analyst Ratings Changes

A number of research analysts have commented on ESS shares. Piper Sandler reissued an "overweight" rating and set a $291.00 target price on shares of Essex Property Trust in a research report on Tuesday, March 26th. Truist Financial cut their price objective on shares of Essex Property Trust from $259.00 to $255.00 and set a "hold" rating on the stock in a research report on Tuesday, April 9th. Jefferies Financial Group raised shares of Essex Property Trust from a "hold" rating to a "buy" rating and lifted their price objective for the stock from $215.00 to $281.00 in a research report on Tuesday, January 2nd. Mizuho raised shares of Essex Property Trust from a "neutral" rating to a "buy" rating and cut their price objective for the stock from $255.00 to $250.00 in a research report on Wednesday, February 28th. Finally, Royal Bank of Canada lifted their price objective on shares of Essex Property Trust from $237.00 to $239.00 and gave the stock an "outperform" rating in a research report on Thursday, February 8th. Four research analysts have rated the stock with a sell rating, nine have given a hold rating and six have given a buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $245.37.

Essex Property Trust Price Performance

Shares of Essex Property Trust stock traded down $0.29 during trading hours on Friday, reaching $246.92. 421,911 shares of the company's stock were exchanged, compared to its average volume of 399,327. Essex Property Trust, Inc. has a 1 year low of $203.85 and a 1 year high of $252.85. The company has a market capitalization of $15.85 billion, a P/E ratio of 39.13, a price-to-earnings-growth ratio of 3.66 and a beta of 0.80. The business has a fifty day moving average of $238.81 and a two-hundred day moving average of $231.80. The company has a quick ratio of 3.26, a current ratio of 3.26 and a debt-to-equity ratio of 1.11.

Essex Property Trust Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, April 12th. Stockholders of record on Friday, March 29th were issued 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 of this dividend was Wednesday, March 27th. This represents a $9.80 dividend on an annualized basis and a dividend yield of 3.97%. Essex Property Trust's dividend payout ratio is presently 155.31%.

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.

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