Signet Financial Management LLC Lowers Position in Essex Property Trust, Inc. (NYSE:ESS)

Signet Financial Management LLC lowered its holdings in Essex Property Trust, Inc. (NYSE:ESS) by 3.6% during the 4th quarter, HoldingsChannel.com reports. The fund owned 1,146 shares of the real estate investment trust’s stock after selling 43 shares during the quarter. Signet Financial Management LLC’s holdings in Essex Property Trust were worth $284,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. SG Americas Securities LLC raised its holdings in shares of Essex Property Trust by 632.8% during the 4th 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 in the last quarter. Kingswood Wealth Advisors LLC purchased a new position in shares of Essex Property Trust during the 4th quarter valued at about $3,304,000. JLP Asset Management LLC purchased a new position in Essex Property Trust in the 4th quarter worth approximately $2,802,000. Mariner LLC increased its stake in Essex Property Trust by 16.2% in 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 period. Finally, LPL Financial LLC increased its stake in Essex Property Trust by 10.2% in the 3rd quarter. LPL Financial LLC now owns 27,246 shares of the real estate investment trust’s stock worth $5,779,000 after purchasing an additional 2,524 shares during the period. 96.51% of the stock is owned by hedge funds and other institutional investors.

Essex Property Trust Stock Down 0.0 %

ESS stock opened at $232.65 on Thursday. Essex Property Trust, Inc. has a 1-year low of $203.85 and a 1-year high of $252.85. The business has a fifty day moving average price of $237.20 and a 200-day moving average price of $230.48. 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 stock has a market capitalization of $14.94 billion, a P/E ratio of 36.87, a P/E/G ratio of 3.44 and a beta of 0.80.

Essex Property Trust Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, April 12th. Stockholders of record on Friday, March 29th were paid a $2.45 dividend. The ex-dividend date was Wednesday, March 27th. This represents a $9.80 annualized dividend and a dividend yield of 4.21%. This is a boost from Essex Property Trust’s previous quarterly dividend of $2.31. Essex Property Trust’s payout ratio is currently 155.31%.

Wall Street Analysts Forecast Growth

ESS has been the topic of a number of analyst reports. Mizuho raised Essex Property Trust from a “neutral” rating to a “buy” rating and decreased their price target for the stock from $255.00 to $250.00 in a research note on Wednesday, February 28th. The Goldman Sachs Group reaffirmed a “sell” rating and issued a $227.00 price target on shares of Essex Property Trust in a research note on Thursday, February 22nd. Jefferies Financial Group raised Essex Property Trust from a “hold” rating to a “buy” rating and lifted their price target for the stock from $215.00 to $281.00 in a research note on Tuesday, January 2nd. Bank of America upgraded Essex Property Trust from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $250.00 to $275.00 in a research report on Monday, April 1st. Finally, 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. Four research analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, Essex Property Trust presently has a consensus rating of “Hold” and an average price target of $245.37.

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.