Sentry Investment Management LLC Decreases Position in Essex Property Trust, Inc. (NYSE:ESS)

Sentry Investment Management LLC lowered its position in Essex Property Trust, Inc. (NYSE:ESSFree Report) by 12.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 373 shares of the real estate investment trust’s stock after selling 51 shares during the quarter. Sentry Investment Management LLC’s holdings in Essex Property Trust were worth $79,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in ESS. Wetherby Asset Management Inc. raised its position in Essex Property Trust by 7.6% during the first quarter. Wetherby Asset Management Inc. now owns 635 shares of the real estate investment trust’s stock worth $219,000 after acquiring an additional 45 shares during the last quarter. Simplicity Solutions LLC grew its holdings in Essex Property Trust by 4.8% during the 2nd quarter. Simplicity Solutions LLC now owns 1,067 shares of the real estate investment trust’s stock valued at $250,000 after buying an additional 49 shares during the last quarter. Lazard Asset Management LLC increased its position in Essex Property Trust by 25.3% during the first quarter. Lazard Asset Management LLC now owns 243 shares of the real estate investment trust’s stock worth $83,000 after buying an additional 49 shares in the last quarter. Cambridge Investment Research Advisors Inc. raised its holdings in shares of Essex Property Trust by 2.6% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 1,957 shares of the real estate investment trust’s stock worth $409,000 after acquiring an additional 49 shares during the last quarter. Finally, Commonwealth Equity Services LLC raised its stake in Essex Property Trust by 1.2% in the 2nd quarter. Commonwealth Equity Services LLC now owns 4,405 shares of the real estate investment trust’s stock valued at $1,032,000 after purchasing an additional 53 shares during the last quarter. Institutional investors and hedge funds own 92.93% of the company’s stock.

Essex Property Trust Stock Performance

Shares of NYSE ESS traded up $1.69 during trading on Friday, reaching $235.61. The stock had a trading volume of 141,236 shares, compared to its average volume of 400,765. The company has a debt-to-equity ratio of 1.09, a quick ratio of 2.63 and a current ratio of 2.63. The stock has a market cap of $15.12 billion, a PE ratio of 28.70, a P/E/G ratio of 2.69 and a beta of 0.82. Essex Property Trust, Inc. has a one year low of $195.03 and a one year high of $252.85. The firm’s 50 day moving average price is $235.04 and its two-hundred day moving average price is $229.59.

Essex Property Trust Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, January 12th. Stockholders of record on Tuesday, January 2nd were given a $2.31 dividend. The ex-dividend date was Friday, December 29th. This represents a $9.24 dividend on an annualized basis and a dividend yield of 3.92%. Essex Property Trust’s payout ratio is currently 113.37%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on ESS shares. Jefferies Financial Group raised shares of Essex Property Trust from a “hold” rating to a “buy” rating and raised their price target for the stock from $215.00 to $281.00 in a research note on Tuesday, January 2nd. Wedbush assumed coverage on Essex Property Trust in a research note on Tuesday, October 3rd. They set a “neutral” rating and a $225.00 price target on the stock. Stifel Nicolaus lowered their price objective on Essex Property Trust from $226.00 to $225.00 and set a “hold” rating for the company in a research report on Friday, November 17th. StockNews.com started coverage on Essex Property Trust in a research note on Thursday, October 5th. They issued a “hold” rating for the company. Finally, Truist Financial lifted their price target on Essex Property Trust from $260.00 to $276.00 and gave the company a “hold” rating in a report on Tuesday, January 16th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $244.56.

View Our Latest Stock Report on ESS

Essex Property Trust Profile

(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.

See Also

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

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