Essex Property Trust, Inc. (NYSE:ESS) Shares Sold by Fisher Asset Management LLC

Fisher Asset Management LLC lowered its holdings in Essex Property Trust, Inc. (NYSE:ESS) by 4.8% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 14,834 shares of the real estate investment trust’s stock after selling 751 shares during the quarter. Fisher Asset Management LLC’s holdings in Essex Property Trust were worth $3,678,000 as of its most recent filing with the SEC.

Several other institutional investors also recently made changes to their positions in ESS. New York Life Investment Management LLC lifted its stake in shares of Essex Property Trust by 70.1% in the fourth quarter. New York Life Investment Management LLC now owns 19,663 shares of the real estate investment trust’s stock valued at $4,875,000 after purchasing an additional 8,105 shares during the period. Victory Capital Management Inc. boosted its stake in shares of Essex Property Trust by 11.1% during the 4th quarter. Victory Capital Management Inc. now owns 49,277 shares of the real estate investment trust’s stock worth $12,218,000 after acquiring an additional 4,943 shares in the last quarter. Savant Capital LLC acquired a new stake in shares of Essex Property Trust in the 4th quarter worth approximately $230,000. Kestra Private Wealth Services LLC acquired a new stake in shares of Essex Property Trust in the 4th quarter worth approximately $813,000. Finally, Van ECK Associates Corp increased its stake in Essex Property Trust by 14.4% in the 4th quarter. Van ECK Associates Corp now owns 26,190 shares of the real estate investment trust’s stock valued at $6,494,000 after purchasing an additional 3,301 shares in the last quarter. 96.51% of the stock is currently owned by hedge funds and other institutional investors.

Essex Property Trust Stock Performance

Shares of NYSE:ESS opened at $257.67 on Wednesday. The business has a 50-day moving average of $241.53 and a two-hundred day moving average of $233.61. The firm has a market capitalization of $16.54 billion, a PE ratio of 31.50, a P/E/G ratio of 3.67 and a beta of 0.79. The company has a debt-to-equity ratio of 1.14, a current ratio of 3.19 and a quick ratio of 3.19. Essex Property Trust, Inc. has a 12 month low of $203.85 and a 12 month high of $258.06.

Essex Property Trust Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, April 12th. Investors of record on Friday, March 29th were issued a $2.45 dividend. This is a positive change 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 annualized dividend and a yield of 3.80%. Essex Property Trust’s dividend payout ratio (DPR) is presently 119.80%.

Analyst Ratings Changes

Several research firms have weighed in on ESS. The Goldman Sachs Group reissued a “sell” rating and issued a $227.00 target price on shares of Essex Property Trust in a report on Thursday, February 22nd. Deutsche Bank Aktiengesellschaft began coverage on shares of Essex Property Trust in a research report on Tuesday, January 30th. They set a “hold” rating and a $240.00 target price for the company. Morgan Stanley increased their price target on shares of Essex Property Trust from $227.00 to $230.00 and gave the company an “equal weight” rating in a research report on Monday, February 26th. Royal Bank of Canada lifted their price objective on Essex Property Trust from $237.00 to $239.00 and gave the stock an “outperform” rating in a research report on Thursday, February 8th. Finally, Raymond James raised Essex Property Trust from a “market perform” rating to an “outperform” rating and set a $265.00 price target for the company in a research report on Monday, March 18th. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, Essex Property Trust has an average rating of “Hold” and a consensus target price of $249.76.

About Essex Property Trust

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.