Davis Selected Advisers Sells 11,030 Shares of Essex Property Trust, Inc. (NYSE:ESS)

Davis Selected Advisers decreased its position in Essex Property Trust, Inc. (NYSE:ESSFree Report) by 16.2% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 57,191 shares of the real estate investment trust’s stock after selling 11,030 shares during the period. Davis Selected Advisers owned 0.09% of Essex Property Trust worth $12,130,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently modified their holdings of ESS. Steward Partners Investment Advisory LLC increased its position in shares of Essex Property Trust by 100.0% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 120 shares of the real estate investment trust’s stock valued at $25,000 after acquiring an additional 60 shares during the last quarter. Clear Street Markets LLC grew its stake in Essex Property Trust by 89.4% in the 1st quarter. Clear Street Markets LLC now owns 125 shares of the real estate investment trust’s stock valued at $26,000 after purchasing an additional 59 shares during the period. Pacific Center for Financial Services purchased a new stake in shares of Essex Property Trust during the 1st quarter valued at $30,000. Advisory Services Network LLC bought a new stake in shares of Essex Property Trust during the 1st quarter worth $32,000. Finally, Financial Gravity Asset Management Inc. purchased a new position in shares of Essex Property Trust in the 2nd quarter worth about $37,000. Institutional investors own 92.93% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have commented on ESS shares. Jefferies Financial Group raised shares of Essex Property Trust from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $215.00 to $281.00 in a research report on Tuesday, January 2nd. Deutsche Bank Aktiengesellschaft initiated coverage on Essex Property Trust in a research note on Tuesday, January 30th. They issued a “hold” rating and a $240.00 price objective on the stock. Mizuho raised their target price on Essex Property Trust from $232.00 to $256.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 10th. Stifel Nicolaus dropped their price target on Essex Property Trust from $225.00 to $223.00 and set a “hold” rating on the stock in a research report on Wednesday, February 7th. Finally, BMO Capital Markets raised Essex Property Trust from an “underperform” rating to a “market perform” rating and decreased their price objective for the stock from $235.00 to $225.00 in a report on Thursday, November 9th. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and four have issued a buy rating to the company. According to MarketBeat, Essex Property Trust currently has a consensus rating of “Hold” and a consensus target price of $244.41.

Get Our Latest Stock Report on ESS

Essex Property Trust Stock Up 0.2 %

ESS stock opened at $230.27 on Monday. The company’s 50 day moving average is $239.40 and its 200 day moving average is $228.77. The stock has a market cap of $14.78 billion, a price-to-earnings ratio of 36.42, a price-to-earnings-growth ratio of 2.65 and a beta of 0.80. The company has a current ratio of 2.63, a quick ratio of 2.63 and a debt-to-equity ratio of 1.11. Essex Property Trust, Inc. has a 1-year low of $195.03 and a 1-year high of $252.85.

Essex Property Trust Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 12th. Stockholders of record on Tuesday, January 2nd were given a dividend of $2.31 per share. This represents a $9.24 annualized dividend and a dividend yield of 4.01%. The ex-dividend date of this dividend was Friday, December 29th. Essex Property Trust’s dividend payout ratio (DPR) is currently 146.43%.

About Essex Property Trust

(Free Report)

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.

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Institutional Ownership by Quarter for Essex Property Trust (NYSE:ESS)

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