Victory Capital Management Inc. Has $12.22 Million Stake in Essex Property Trust, Inc. (NYSE:ESS)

Victory Capital Management Inc. lifted its stake in shares of Essex Property Trust, Inc. (NYSE:ESS - Free Report) by 11.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 49,277 shares of the real estate investment trust's stock after purchasing an additional 4,943 shares during the quarter. Victory Capital Management Inc. owned about 0.08% of Essex Property Trust worth $12,218,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Daiwa Securities Group Inc. lifted its holdings in 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 during the period. Russell Investments Group Ltd. raised its holdings in Essex Property Trust by 119.3% during the fourth 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 boosted 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 valued at $44,253,000 after purchasing an additional 204,615 shares in the last quarter. Ameriprise Financial Inc. increased its position in shares of 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 valued at $164,233,000 after purchasing an additional 89,198 shares during the period. Finally, American Century Companies Inc. lifted its holdings in shares of Essex Property Trust by 9.4% in the third quarter. American Century Companies Inc. now owns 828,191 shares of the real estate investment trust's stock valued at $175,651,000 after buying an additional 71,359 shares during the period. Institutional investors and hedge funds own 96.51% of the company's stock.

Essex Property Trust Stock Performance

Essex Property Trust stock traded down $0.63 during trading hours on Friday, reaching $258.95. 205,079 shares of the company were exchanged, compared to its average volume of 385,316. Essex Property Trust, Inc. has a 12 month low of $203.85 and a 12 month high of $260.52. The firm has a market cap of $16.63 billion, a price-to-earnings ratio of 31.66, a PEG ratio of 3.77 and a beta of 0.79. The company has a current ratio of 3.19, a quick ratio of 3.19 and a debt-to-equity ratio of 1.14. The stock has a 50-day moving average of $243.09 and a 200 day moving average of $234.41.

Essex Property Trust Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, April 12th. Investors of record on Friday, March 29th were paid a $2.45 dividend. The ex-dividend date of this dividend was Wednesday, March 27th. This is a positive change from Essex Property Trust's previous quarterly dividend of $2.31. This represents a $9.80 dividend on an annualized basis and a yield of 3.78%. Essex Property Trust's dividend payout ratio (DPR) is presently 119.80%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on ESS shares. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Essex Property Trust in a research report on Tuesday, January 30th. They set a "hold" rating and a $240.00 price objective for the company. StockNews.com raised Essex Property Trust from a "sell" rating to a "hold" rating in a report on Wednesday, May 1st. Morgan Stanley boosted their price objective on Essex Property Trust from $227.00 to $230.00 and gave the stock an "equal weight" rating in a report on Monday, February 26th. Mizuho upgraded shares of Essex Property Trust from a "neutral" rating to a "buy" rating and decreased their target price for the stock from $255.00 to $250.00 in a report on Wednesday, February 28th. Finally, Piper Sandler boosted their price target on shares of Essex Property Trust from $291.00 to $315.00 and gave the company an "overweight" rating in a report on Monday, May 6th. Three equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $249.76.

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.