Charles Schwab Investment Management Inc. Purchases 18,324 Shares of Essex Property Trust, Inc. (NYSE:ESS)

Charles Schwab Investment Management Inc. boosted its holdings in Essex Property Trust, Inc. (NYSE:ESS) by 2.7% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 689,608 shares of the real estate investment trust’s stock after buying an additional 18,324 shares during the period. Charles Schwab Investment Management Inc. owned 1.07% of Essex Property Trust worth $170,981,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the business. Lindbrook Capital LLC grew its holdings in Essex Property Trust by 111.5% during the 4th quarter. Lindbrook Capital LLC now owns 110 shares of the real estate investment trust’s stock valued at $27,000 after buying an additional 58 shares in the last quarter. Bruce G. Allen Investments LLC bought a new stake in shares of Essex Property Trust in the 4th quarter worth about $41,000. Bear Mountain Capital Inc. purchased a new position in shares of Essex Property Trust during the 4th quarter worth about $55,000. Blue Trust Inc. raised its holdings in shares of Essex Property Trust by 645.2% in the fourth quarter. Blue Trust Inc. now owns 231 shares of the real estate investment trust’s stock worth $57,000 after buying an additional 200 shares during the period. Finally, Tobam bought a new stake in shares of Essex Property Trust during the fourth quarter worth $60,000. 96.51% of the stock is currently owned by hedge funds and other institutional investors.

Essex Property Trust Stock Performance

Shares of NYSE ESS opened at $259.58 on Friday. The company has a current ratio of 3.19, a quick ratio of 3.19 and a debt-to-equity ratio of 1.14. The business has a fifty day simple moving average of $242.03 and a 200 day simple moving average of $233.75. Essex Property Trust, Inc. has a one year low of $203.85 and a one year high of $259.78. The firm has a market capitalization of $16.67 billion, a price-to-earnings ratio of 31.73, a PEG ratio of 3.67 and a beta of 0.79.

Essex Property Trust Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, April 12th. Shareholders of record on Friday, March 29th were given a $2.45 dividend. The ex-dividend date was Wednesday, March 27th. This is a positive change from Essex Property Trust’s previous quarterly dividend of $2.31. This represents a $9.80 dividend on an annualized basis and a yield of 3.78%. Essex Property Trust’s payout ratio is 119.80%.

Analysts Set New Price Targets

ESS has been the topic of a number of analyst reports. The Goldman Sachs Group restated a “sell” rating and issued a $227.00 price objective on shares of Essex Property Trust in a report on Thursday, February 22nd. Deutsche Bank Aktiengesellschaft initiated coverage on Essex Property Trust in a report on Tuesday, January 30th. They issued a “hold” rating and a $240.00 price target for the company. Stifel Nicolaus raised their price objective on shares of Essex Property Trust from $239.50 to $243.50 and gave the stock a “hold” rating in a report on Wednesday, May 1st. Piper Sandler increased 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. Finally, Royal Bank of Canada boosted their price target on shares of Essex Property Trust from $237.00 to $239.00 and gave the company an “outperform” rating in a research report on Thursday, February 8th. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, Essex Property Trust has an average rating of “Hold” and an average price target of $249.76.

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.