WESCAP Management Group Inc. Sells 280 Shares of Essex Property Trust, Inc. (NYSE:ESS)

WESCAP Management Group Inc. lowered its holdings in shares of Essex Property Trust, Inc. (NYSE:ESS) by 11.1% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 2,248 shares of the real estate investment trust’s stock after selling 280 shares during the period. WESCAP Management Group Inc.’s holdings in Essex Property Trust were worth $557,000 as of its most recent filing with the SEC.

A number of other large investors also recently added to or reduced their stakes in ESS. Cambridge Investment Research Advisors Inc. grew its stake in shares of Essex Property Trust by 12.9% in the third quarter. Cambridge Investment Research Advisors Inc. now owns 2,099 shares of the real estate investment trust’s stock worth $445,000 after purchasing an additional 240 shares during the last quarter. Robeco Institutional Asset Management B.V. increased its stake in shares of Essex Property Trust by 173.9% during the third quarter. Robeco Institutional Asset Management B.V. now owns 135,008 shares of the real estate investment trust’s stock valued at $28,634,000 after buying an additional 85,725 shares during the period. Xponance Inc. raised its holdings in shares of Essex Property Trust by 4.0% during the third quarter. Xponance Inc. now owns 9,195 shares of the real estate investment trust’s stock valued at $1,950,000 after acquiring an additional 353 shares in the last quarter. Stratos Wealth Partners LTD. lifted its stake in Essex Property Trust by 5.2% in the third quarter. Stratos Wealth Partners LTD. now owns 1,265 shares of the real estate investment trust’s stock worth $268,000 after acquiring an additional 63 shares during the period. Finally, Independent Advisor Alliance boosted its holdings in Essex Property Trust by 2.9% in the third quarter. Independent Advisor Alliance now owns 2,874 shares of the real estate investment trust’s stock valued at $610,000 after acquiring an additional 82 shares in the last quarter. Hedge funds and other institutional investors own 96.51% of the company’s stock.

Essex Property Trust Stock Performance

ESS traded up $0.51 on Friday, reaching $250.31. The stock had a trading volume of 399,522 shares, compared to its average volume of 396,183. The business’s 50-day moving average price is $240.34 and its two-hundred day moving average price is $232.77. The company has a market cap of $16.07 billion, a P/E ratio of 30.60, a price-to-earnings-growth ratio of 3.67 and a beta of 0.79. Essex Property Trust, Inc. has a 12-month low of $203.85 and a 12-month high of $253.53. The company has a current ratio of 3.19, a quick ratio of 3.26 and a debt-to-equity ratio of 1.14.

Essex Property Trust Increases Dividend

The business also recently announced 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 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 dividend yield of 3.92%. Essex Property Trust’s dividend payout ratio (DPR) is 119.80%.

Analyst Ratings Changes

ESS has been the subject of several research analyst reports. Morgan Stanley raised their target price on shares of Essex Property Trust from $227.00 to $230.00 and gave the stock an “equal weight” rating in a research report on Monday, February 26th. Bank of America raised Essex Property Trust from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $250.00 to $275.00 in a research report on Monday, April 1st. Deutsche Bank Aktiengesellschaft began coverage on Essex Property Trust in a research report on Tuesday, January 30th. They issued a “hold” rating and a $240.00 target price for the company. Raymond James upgraded Essex Property Trust from a “market perform” rating to an “outperform” rating and set a $265.00 target price for the company in a research note on Monday, March 18th. Finally, StockNews.com raised Essex Property Trust from a “sell” rating to a “hold” rating in a research note on Wednesday. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $247.24.

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.