Simplicity Solutions LLC Lowers Stake in Essex Property Trust, Inc. (NYSE:ESS)

Simplicity Solutions LLC reduced its holdings in shares of Essex Property Trust, Inc. (NYSE:ESSFree Report) by 8.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 911 shares of the real estate investment trust’s stock after selling 84 shares during the period. Simplicity Solutions LLC’s holdings in Essex Property Trust were worth $226,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. SG Americas Securities LLC boosted its position in shares of Essex Property Trust by 632.8% in the 4th quarter. SG Americas Securities LLC now owns 15,001 shares of the real estate investment trust’s stock worth $3,719,000 after purchasing an additional 12,954 shares in the last quarter. Kingswood Wealth Advisors LLC purchased a new position in shares of Essex Property Trust in the fourth quarter worth approximately $3,304,000. JLP Asset Management LLC bought a new stake in Essex Property Trust during the fourth quarter valued at approximately $2,802,000. Mariner LLC increased its holdings in Essex Property Trust by 16.2% during the third quarter. Mariner LLC now owns 5,063 shares of the real estate investment trust’s stock valued at $1,074,000 after buying an additional 704 shares during the last quarter. Finally, LPL Financial LLC raised its position in Essex Property Trust by 10.2% in the third quarter. LPL Financial LLC now owns 27,246 shares of the real estate investment trust’s stock worth $5,779,000 after acquiring an additional 2,524 shares during the period. Hedge funds and other institutional investors own 96.51% of the company’s stock.

Essex Property Trust Trading Up 0.5 %

NYSE ESS opened at $235.17 on Friday. Essex Property Trust, Inc. has a 52 week low of $203.85 and a 52 week high of $252.85. The company has a 50 day moving average price of $237.40 and a 200 day moving average price of $230.85. The company has a quick ratio of 3.26, a current ratio of 3.26 and a debt-to-equity ratio of 1.11. The firm has a market cap of $15.10 billion, a PE ratio of 37.27, a price-to-earnings-growth ratio of 3.45 and a beta of 0.80.

Essex Property Trust Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 12th. Stockholders of record on Friday, March 29th were given a $2.45 dividend. This is a boost 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 4.17%. Essex Property Trust’s dividend payout ratio (DPR) is presently 155.31%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Bank of America raised shares of Essex Property Trust from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $250.00 to $275.00 in a research report on Monday, April 1st. Barclays upped their price target on Essex Property Trust from $224.00 to $225.00 and gave the stock an “underweight” rating in a research report on Tuesday, February 20th. Royal Bank of Canada lifted their price objective on Essex Property Trust from $237.00 to $239.00 and gave the company an “outperform” rating in a research report on Thursday, February 8th. Morgan Stanley boosted their price objective on Essex Property Trust from $227.00 to $230.00 and gave the company an “equal weight” rating in a research note on Monday, February 26th. Finally, Piper Sandler reiterated an “overweight” rating and issued a $291.00 price target on shares of Essex Property Trust in a research report on Tuesday, March 26th. Four equities research analysts have rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $245.37.

Get Our Latest Analysis on ESS

Essex Property Trust Company Profile

(Free Report)

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.

Featured Stories

Want to see what other hedge funds are holding ESS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Essex Property Trust, Inc. (NYSE:ESSFree Report).

Institutional Ownership by Quarter for Essex Property Trust (NYSE:ESS)

Receive News & Ratings for Essex Property Trust Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Essex Property Trust and related companies with MarketBeat.com's FREE daily email newsletter.