Leeward Investments LLC MA Sells 1,066 Shares of Essex Property Trust, Inc. (NYSE:ESS)

Leeward Investments LLC MA cut its holdings in shares of Essex Property Trust, Inc. (NYSE:ESS) by 2.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 39,724 shares of the real estate investment trust’s stock after selling 1,066 shares during the period. Leeward Investments LLC MA owned 0.06% of Essex Property Trust worth $9,849,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the business. SG Americas Securities LLC grew its holdings in shares of Essex Property Trust by 632.8% during the fourth quarter. SG Americas Securities LLC now owns 15,001 shares of the real estate investment trust’s stock valued at $3,719,000 after buying an additional 12,954 shares during the last quarter. Daiwa Securities Group Inc. boosted its stake in shares of Essex Property Trust by 201.1% during the 4th quarter. Daiwa Securities Group Inc. now owns 534,964 shares of the real estate investment trust’s stock worth $132,639,000 after acquiring an additional 357,268 shares in the last quarter. Kingswood Wealth Advisors LLC acquired a new position in shares of Essex Property Trust during the 4th quarter worth about $3,304,000. JLP Asset Management LLC acquired a new position in shares of Essex Property Trust during the 4th quarter worth about $2,802,000. Finally, Mariner LLC raised its position in shares of Essex Property Trust by 16.2% during the 3rd quarter. Mariner LLC now owns 5,063 shares of the real estate investment trust’s stock worth $1,074,000 after purchasing an additional 704 shares during the last quarter. 96.51% of the stock is owned by institutional investors and hedge funds.

Essex Property Trust Trading Down 0.1 %

Shares of NYSE:ESS traded down $0.29 during mid-day trading on Friday, reaching $246.92. 421,911 shares of the company were exchanged, compared to its average volume of 399,327. The company has a debt-to-equity ratio of 1.11, a current ratio of 3.26 and a quick ratio of 3.26. The firm has a market cap of $15.85 billion, a price-to-earnings ratio of 39.13, a P/E/G ratio of 3.66 and a beta of 0.80. The firm’s 50-day simple moving average is $238.81 and its 200 day simple moving average is $231.80. Essex Property Trust, Inc. has a 1 year low of $203.85 and a 1 year high of $252.85.

Essex Property Trust Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 12th. Investors of record on Friday, March 29th were given a dividend of $2.45 per share. The ex-dividend date was Wednesday, March 27th. This represents a $9.80 dividend on an annualized basis and a dividend yield of 3.97%. This is a boost from Essex Property Trust’s previous quarterly dividend of $2.31. Essex Property Trust’s dividend payout ratio (DPR) is presently 155.31%.

Analyst Ratings Changes

ESS has been the subject of a number of recent research reports. Bank of America upgraded shares of Essex Property Trust from a “neutral” rating to a “buy” rating and increased their price objective for the company from $250.00 to $275.00 in a report on Monday, April 1st. Morgan Stanley increased their price objective on shares of Essex Property Trust from $227.00 to $230.00 and gave the company an “equal weight” rating in a report on Monday, February 26th. Truist Financial cut their price objective 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. StockNews.com downgraded shares of Essex Property Trust from a “hold” rating to a “sell” rating in a report on Saturday, April 13th. Finally, Royal Bank of Canada increased their price objective on shares of Essex Property Trust from $237.00 to $239.00 and gave the company an “outperform” rating in a report on Thursday, February 8th. Four research analysts have rated the stock with a sell rating, nine have given a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $245.37.

Essex Property Trust 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.