6,900 Shares in Essex Property Trust, Inc. (NYSE:ESS) Acquired by Apexium Financial LP

Apexium Financial LP purchased a new stake in shares of Essex Property Trust, Inc. (NYSE:ESS - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 6,900 shares of the real estate investment trust's stock, valued at approximately $1,711,000.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Northern Trust Corp grew its position in shares of Essex Property Trust by 6.1% during the 3rd quarter. Northern Trust Corp now owns 978,639 shares of the real estate investment trust's stock valued at $207,560,000 after purchasing an additional 55,903 shares in the last quarter. American Century Companies Inc. increased its position in shares of Essex Property Trust by 9.4% during 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. Ameriprise Financial Inc. increased its stake in shares of Essex Property Trust by 13.0% in the 3rd quarter. Ameriprise Financial Inc. now owns 776,149 shares of the real estate investment trust's stock worth $164,233,000 after acquiring an additional 89,198 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in Essex Property Trust by 2.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 689,608 shares of the real estate investment trust's stock valued at $170,981,000 after buying an additional 18,324 shares during the last quarter. Finally, Invesco Ltd. grew its holdings in shares of Essex Property Trust by 5.4% during the third quarter. Invesco Ltd. now owns 643,250 shares of the real estate investment trust's stock valued at $136,427,000 after buying an additional 32,706 shares during the last quarter. 96.51% of the stock is owned by institutional investors.

Essex Property Trust Trading Down 1.2 %

ESS traded down $3.13 during trading on Thursday, reaching $264.71. 202,809 shares of the stock traded hands, compared to its average volume of 393,538. The stock has a market capitalization of $17.00 billion, a PE ratio of 32.74, a P/E/G ratio of 3.79 and a beta of 0.79. Essex Property Trust, Inc. has a 12 month low of $203.85 and a 12 month high of $269.23. The stock's 50-day moving average is $244.37 and its 200 day moving average is $235.59. The company has a quick ratio of 3.19, a current ratio of 3.19 and a debt-to-equity ratio of 1.14.

Essex Property Trust Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 24th. Investors of record on Friday, June 28th will be issued a dividend of $2.45 per share. This represents a $9.80 dividend on an annualized basis and a yield of 3.70%. Essex Property Trust's dividend payout ratio (DPR) is presently 119.80%.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. StockNews.com raised shares of Essex Property Trust from a "sell" rating to a "hold" rating in a research note on Wednesday, May 1st. Piper Sandler lifted their target price on Essex Property Trust from $291.00 to $315.00 and gave the stock an "overweight" rating in a report on Monday, May 6th. Morgan Stanley boosted their price target on Essex Property Trust from $230.00 to $250.00 and gave the company an "equal weight" rating in a report on Tuesday. Deutsche Bank Aktiengesellschaft started coverage on shares of Essex Property Trust in a report on Tuesday, January 30th. They set a "hold" rating and a $240.00 price objective on the stock. Finally, Truist Financial dropped their target price on shares of Essex Property Trust from $259.00 to $255.00 and set a "hold" rating for the company in a report on Tuesday, April 9th. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and seven have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $255.28.

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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