New York Life Investment Management LLC Acquires 8,105 Shares of Essex Property Trust, Inc. (NYSE:ESS)

New York Life Investment Management LLC raised its holdings in shares of Essex Property Trust, Inc. (NYSE:ESS - Free Report) by 70.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 19,663 shares of the real estate investment trust's stock after purchasing an additional 8,105 shares during the period. New York Life Investment Management LLC's holdings in Essex Property Trust were worth $4,875,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in the business. Daiwa Securities Group Inc. increased its stake in shares of Essex Property Trust by 201.1% in the 4th quarter. Daiwa Securities Group Inc. now owns 534,964 shares of the real estate investment trust's stock valued at $132,639,000 after acquiring an additional 357,268 shares during the last quarter. Russell Investments Group Ltd. increased its stake in Essex Property Trust by 119.3% during the 4th quarter. Russell Investments Group Ltd. now owns 412,721 shares of the real estate investment trust's stock worth $102,602,000 after purchasing an additional 224,554 shares in the last quarter. Wellington Management Group LLP increased its stake in Essex Property Trust by 5,069.7% during the 3rd quarter. Wellington Management Group LLP now owns 208,651 shares of the real estate investment trust's stock worth $44,253,000 after purchasing an additional 204,615 shares in the last quarter. Ameriprise Financial Inc. increased its stake in Essex Property Trust by 13.0% during the 3rd quarter. Ameriprise Financial Inc. now owns 776,149 shares of the real estate investment trust's stock worth $164,233,000 after purchasing an additional 89,198 shares in the last quarter. Finally, American Century Companies Inc. increased its stake in Essex Property Trust by 9.4% during the 3rd quarter. American Century Companies Inc. now owns 828,191 shares of the real estate investment trust's stock worth $175,651,000 after purchasing an additional 71,359 shares in the last quarter. 96.51% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on ESS shares. Truist Financial lowered their target price on Essex Property Trust from $259.00 to $255.00 and set a "hold" rating for the company in a research note on Tuesday, April 9th. Deutsche Bank Aktiengesellschaft started coverage on Essex Property Trust in a research note on Tuesday, January 30th. They set a "hold" rating and a $240.00 target price for the company. StockNews.com raised Essex Property Trust from a "sell" rating to a "hold" rating in a research note on Wednesday. Barclays raised their price target on shares of Essex Property Trust from $224.00 to $225.00 and gave the stock an "underweight" rating in a research note on Tuesday, February 20th. Finally, Wedbush reaffirmed a "neutral" rating and set a $240.00 price target on shares of Essex Property Trust in a research note on Monday, April 29th. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, Essex Property Trust presently has a consensus rating of "Hold" and a consensus price target of $247.24.

Essex Property Trust Stock Up 0.2 %

Shares of NYSE ESS traded up $0.51 during trading hours on Friday, hitting $250.31. The company had a trading volume of 399,522 shares, compared to its average volume of 396,183. The company has a quick ratio of 3.26, a current ratio of 3.19 and a debt-to-equity ratio of 1.14. The firm's 50 day moving average is $240.34 and its 200-day moving average is $232.77. Essex Property Trust, Inc. has a 1-year low of $203.85 and a 1-year high of $253.53. The stock has a market capitalization of $16.07 billion, a P/E ratio of 30.60, a price-to-earnings-growth ratio of 3.67 and a beta of 0.79.

Essex Property Trust Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, April 12th. Stockholders of record on Friday, March 29th were paid a dividend of $2.45 per share. This represents a $9.80 dividend on an annualized basis and a dividend yield of 3.92%. The ex-dividend date of this dividend was Wednesday, March 27th. This is a boost from Essex Property Trust's previous quarterly dividend of $2.31. Essex Property Trust's dividend payout ratio (DPR) is currently 119.80%.

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.