RB Capital Management LLC Has $670,000 Holdings in Essex Property Trust, Inc. (NYSE:ESS)

RB Capital Management LLC decreased its holdings in shares of Essex Property Trust, Inc. (NYSE:ESS) by 8.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,701 shares of the real estate investment trust’s stock after selling 255 shares during the quarter. RB Capital Management LLC’s holdings in Essex Property Trust were worth $670,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of ESS. Daiwa Securities Group Inc. grew its holdings in shares of Essex Property Trust by 201.1% during the fourth quarter. Daiwa Securities Group Inc. now owns 534,964 shares of the real estate investment trust’s stock worth $132,639,000 after purchasing an additional 357,268 shares during the last quarter. Russell Investments Group Ltd. increased its position in Essex Property Trust by 119.3% during the 4th quarter. Russell Investments Group Ltd. now owns 412,721 shares of the real estate investment trust’s stock valued at $102,602,000 after purchasing an additional 224,554 shares during the period. Wellington Management Group LLP grew its position in shares of Essex Property Trust by 5,069.7% during the 3rd quarter. Wellington Management Group LLP now owns 208,651 shares of the real estate investment trust’s stock worth $44,253,000 after buying an additional 204,615 shares during the period. Ameriprise Financial Inc. grew its position in shares of Essex Property Trust by 13.0% during the 3rd quarter. Ameriprise Financial Inc. now owns 776,149 shares of the real estate investment trust’s stock worth $164,233,000 after buying an additional 89,198 shares during the period. Finally, Robeco Institutional Asset Management B.V. grew its position in shares of Essex Property Trust by 173.9% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 135,008 shares of the real estate investment trust’s stock worth $28,634,000 after buying an additional 85,725 shares during the period. Institutional investors and hedge funds own 96.51% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on ESS. Raymond James upgraded Essex Property Trust from a “market perform” rating to an “outperform” rating and set a $265.00 target price on the stock in a report on Monday, March 18th. StockNews.com cut Essex Property Trust from a “hold” rating to a “sell” rating in a report on Saturday, April 13th. Piper Sandler restated an “overweight” rating and set a $291.00 price objective on shares of Essex Property Trust in a research note on Tuesday, March 26th. Morgan Stanley lifted their price objective on Essex Property Trust from $227.00 to $230.00 and gave the stock an “equal weight” rating in a report on Monday, February 26th. Finally, Stifel Nicolaus lifted their price objective on Essex Property Trust from $239.50 to $243.50 and gave the stock a “hold” rating in a report on Wednesday. Four equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Essex Property Trust has an average rating of “Hold” and an average price target of $247.24.

Essex Property Trust Stock Down 0.3 %

ESS stock traded down $0.78 during midday trading on Wednesday, hitting $245.47. The stock had a trading volume of 714,328 shares, compared to its average volume of 401,813. The firm has a market cap of $15.76 billion, a price-to-earnings ratio of 38.95, a price-to-earnings-growth ratio of 3.66 and a beta of 0.80. The business has a 50-day moving average of $239.32 and a two-hundred day moving average of $232.35. Essex Property Trust, Inc. has a 52-week low of $203.85 and a 52-week high of $252.85. The company has a debt-to-equity ratio of 1.11, a current ratio of 3.26 and a quick ratio of 3.26.

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 paid a $2.45 dividend. This is a boost from Essex Property Trust’s previous quarterly dividend of $2.31. This represents a $9.80 dividend on an annualized basis and a dividend yield of 3.99%. The ex-dividend date was Wednesday, March 27th. Essex Property Trust’s dividend payout ratio is currently 155.31%.

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.