Securian Asset Management Inc. Lowers Holdings in Essex Property Trust, Inc. (NYSE:ESS)

Securian Asset Management Inc. decreased its holdings in Essex Property Trust, Inc. (NYSE:ESS) by 10.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,051 shares of the real estate investment trust’s stock after selling 479 shares during the period. Securian Asset Management Inc.’s holdings in Essex Property Trust were worth $1,004,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the business. Cornercap Investment Counsel Inc. boosted its stake in Essex Property Trust by 2.4% in the 4th quarter. Cornercap Investment Counsel Inc. now owns 1,913 shares of the real estate investment trust’s stock worth $474,000 after purchasing an additional 45 shares during the period. Commerzbank Aktiengesellschaft FI grew its stake in Essex Property Trust by 1.8% during the fourth quarter. Commerzbank Aktiengesellschaft FI now owns 2,552 shares of the real estate investment trust’s stock valued at $633,000 after acquiring an additional 45 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. increased its holdings in Essex Property Trust by 2.8% in the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 1,866 shares of the real estate investment trust’s stock valued at $463,000 after acquiring an additional 51 shares during the last quarter. Lindbrook Capital LLC lifted its stake in Essex Property Trust by 111.5% in the 4th quarter. Lindbrook Capital LLC now owns 110 shares of the real estate investment trust’s stock worth $27,000 after purchasing an additional 58 shares in the last quarter. Finally, Loudon Investment Management LLC boosted its holdings in shares of Essex Property Trust by 0.4% during the 4th quarter. Loudon Investment Management LLC now owns 15,817 shares of the real estate investment trust’s stock valued at $3,922,000 after purchasing an additional 61 shares during the last quarter. Hedge funds and other institutional investors own 96.51% of the company’s stock.

Analyst Ratings Changes

ESS has been the topic of a number of research analyst reports. Wedbush boosted their target price on Essex Property Trust from $240.00 to $264.00 and gave the stock a “neutral” rating in a research report on Monday, May 6th. StockNews.com upgraded shares of Essex Property Trust from a “sell” rating to a “hold” rating in a report on Wednesday, May 1st. Piper Sandler upped their target price on shares of Essex Property Trust from $291.00 to $315.00 and gave the company an “overweight” rating in a research report on Monday, May 6th. The Goldman Sachs Group reiterated a “sell” rating and issued a $227.00 price target on shares of Essex Property Trust in a research report on Thursday, February 22nd. Finally, UBS Group upped their price objective on Essex Property Trust from $250.00 to $261.00 and gave the company a “neutral” rating in a research report on Tuesday, May 14th. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, Essex Property Trust presently has a consensus rating of “Hold” and an average price target of $255.28.

Essex Property Trust Trading Up 0.2 %

Shares of ESS opened at $264.00 on Wednesday. The company has a debt-to-equity ratio of 1.14, a current ratio of 3.19 and a quick ratio of 3.19. The firm has a market capitalization of $16.95 billion, a price-to-earnings ratio of 32.27, a PEG ratio of 3.83 and a beta of 0.79. The company has a 50-day moving average of $246.11 and a 200 day moving average of $237.23. Essex Property Trust, Inc. has a 1-year low of $203.85 and a 1-year high of $269.23.

Essex Property Trust Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 24th. Investors of record on Friday, June 28th will be issued a $2.45 dividend. The ex-dividend date of this dividend is Friday, June 28th. This represents a $9.80 dividend on an annualized basis and a dividend yield of 3.71%. Essex Property Trust’s payout ratio is 119.80%.

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.