Massachusetts Financial Services Co. MA Has $248.34 Million Stock Position in Essex Property Trust, Inc. (NYSE:ESS)

Massachusetts Financial Services Co. MA reduced its position in Essex Property Trust, Inc. (NYSE:ESSFree Report) by 3.8% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 1,170,910 shares of the real estate investment trust’s stock after selling 46,580 shares during the period. Massachusetts Financial Services Co. MA’s holdings in Essex Property Trust were worth $248,338,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in ESS. Steward Partners Investment Advisory LLC grew its stake 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 worth $25,000 after purchasing an additional 60 shares during the period. Clear Street Markets LLC lifted its holdings in shares of Essex Property Trust by 89.4% in the first 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 in the last quarter. Pacific Center for Financial Services bought a new stake in shares of Essex Property Trust in the first quarter valued at about $30,000. V Square Quantitative Management LLC bought a new stake in Essex Property Trust during the second quarter worth about $34,000. Finally, Capital Advisors Ltd. LLC bought a new stake in Essex Property Trust during the second quarter worth about $36,000. 92.93% of the stock is owned by institutional investors and hedge funds.

Essex Property Trust Trading Down 2.4 %

Shares of NYSE:ESS opened at $230.34 on Tuesday. The company has a market capitalization of $14.78 billion, a P/E ratio of 28.26, a P/E/G ratio of 2.71 and a beta of 0.80. Essex Property Trust, Inc. has a 1 year low of $195.03 and a 1 year high of $252.85. The company has a debt-to-equity ratio of 1.09, a current ratio of 2.63 and a quick ratio of 2.63. The business’s 50 day simple moving average is $238.15 and its 200 day simple moving average is $229.10.

Essex Property Trust Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 12th. Shareholders of record on Tuesday, January 2nd were paid a dividend of $2.31 per share. This represents a $9.24 annualized dividend and a yield of 4.01%. The ex-dividend date of this dividend was Friday, December 29th. Essex Property Trust’s payout ratio is presently 113.37%.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Mizuho upped their target price on Essex Property Trust from $232.00 to $256.00 and gave the stock a “neutral” rating in a report on Wednesday, January 10th. Stifel Nicolaus dropped their target price on Essex Property Trust from $226.00 to $225.00 and set a “hold” rating on the stock in a report on Friday, November 17th. BMO Capital Markets upgraded Essex Property Trust from an “underperform” rating to a “market perform” rating and dropped their target price for the stock from $235.00 to $225.00 in a report on Thursday, November 9th. Deutsche Bank Aktiengesellschaft started 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. Finally, Royal Bank of Canada dropped their price objective on Essex Property Trust from $241.00 to $235.00 and set an “outperform” rating on the stock in a research note on Monday, October 30th. 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 stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $244.29.

View Our Latest Analysis on Essex Property Trust

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.

See Also

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

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