Wolfe Research lowered shares of Essex Property Trust (NYSE:ESS – Get Rating) from a peer perform rating to an underperform rating in a research note released on Monday, The Fly reports. Wolfe Research currently has $204.00 price objective on the real estate investment trust’s stock.
Other equities analysts have also issued reports about the stock. Wells Fargo & Company initiated coverage on shares of Essex Property Trust in a research report on Wednesday, March 29th. They set an underweight rating and a $208.00 price target on the stock. Piper Sandler upgraded Essex Property Trust from a neutral rating to an overweight rating and boosted their price target for the company from $242.00 to $271.00 in a research note on Monday, May 1st. Mizuho raised their price objective on Essex Property Trust from $235.00 to $246.00 and gave the stock a neutral rating in a research note on Thursday, February 23rd. Stifel Nicolaus cut their target price on Essex Property Trust from $260.00 to $245.00 in a research report on Friday, April 28th. Finally, Royal Bank of Canada reissued an outperform rating and set a $250.00 target price on shares of Essex Property Trust in a report on Thursday, February 9th. Five research analysts have rated the stock with a sell rating, ten have issued a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of Hold and an average target price of $246.32.
Essex Property Trust Stock Down 0.6 %
ESS stock opened at $214.05 on Monday. Essex Property Trust has a fifty-two week low of $195.03 and a fifty-two week high of $300.33. The company has a debt-to-equity ratio of 1.02, a current ratio of 0.95 and a quick ratio of 0.95. The stock has a market capitalization of $13.74 billion, a price-to-earnings ratio of 28.39, a PEG ratio of 2.31 and a beta of 0.75. The business’s fifty day moving average price is $212.01 and its two-hundred day moving average price is $216.77.
Essex Property Trust Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Friday, July 14th. Stockholders of record on Friday, June 30th will be issued a dividend of $2.31 per share. This represents a $9.24 annualized dividend and a dividend yield of 4.32%. Essex Property Trust’s dividend payout ratio (DPR) is currently 122.55%.
Institutional Inflows and Outflows
Large investors have recently added to or reduced their stakes in the business. Schonfeld Strategic Advisors LLC increased its position in Essex Property Trust by 1,354.3% in the 1st quarter. Schonfeld Strategic Advisors LLC now owns 119,998 shares of the real estate investment trust’s stock valued at $25,096,000 after acquiring an additional 111,747 shares during the period. Lido Advisors LLC increased its holdings in Essex Property Trust by 2.2% in the first quarter. Lido Advisors LLC now owns 176,183 shares of the real estate investment trust’s stock valued at $36,847,000 after purchasing an additional 3,767 shares during the period. Nomura Holdings Inc. raised its position in Essex Property Trust by 10.3% during the 1st quarter. Nomura Holdings Inc. now owns 5,344 shares of the real estate investment trust’s stock worth $1,118,000 after purchasing an additional 501 shares during the last quarter. Public Employees Retirement System of Ohio lifted its holdings in Essex Property Trust by 8.8% during the 1st quarter. Public Employees Retirement System of Ohio now owns 118,401 shares of the real estate investment trust’s stock worth $24,762,000 after buying an additional 9,566 shares during the period. Finally, Peapack Gladstone Financial Corp grew its position in shares of Essex Property Trust by 0.8% in the 1st quarter. Peapack Gladstone Financial Corp now owns 11,876 shares of the real estate investment trust’s stock valued at $2,484,000 after buying an additional 100 shares during the last quarter. Institutional investors own 91.76% of the company’s stock.
Essex Property Trust Company Profile
(Get Rating)
Essex Property Trust, Inc operates as a real estate investment trust. It engages in the ownership, operation, management, acquisition, development, and redevelopment of predominantly apartment communities. The company was founded by George M. Marcus in 1971 and is headquartered in San Mateo, CA.
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