Thrivent Financial for Lutherans Sells 15,583 Shares of Essex Property Trust, Inc. (NYSE:ESS)

Posted by on May 14th, 2023

Thrivent Financial for Lutherans lessened its stake in shares of Essex Property Trust, Inc. (NYSE:ESS – Get Rating) by 37.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 25,837 shares of the real estate investment trust’s stock after selling 15,583 shares during the period. Thrivent Financial for Lutherans’ holdings in Essex Property Trust were worth $5,475,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ESS. Massachusetts Financial Services Co. MA bought a new position in Essex Property Trust during the 3rd quarter valued at approximately $124,907,000. BlackRock Inc. increased its holdings in shares of Essex Property Trust by 6.1% in the 3rd quarter. BlackRock Inc. now owns 6,818,919 shares of the real estate investment trust’s stock worth $1,651,748,000 after purchasing an additional 390,858 shares in the last quarter. State Street Corp increased its holdings in shares of Essex Property Trust by 6.0% in the 3rd quarter. State Street Corp now owns 5,517,541 shares of the real estate investment trust’s stock worth $1,348,129,000 after purchasing an additional 314,259 shares in the last quarter. Centersquare Investment Management LLC increased its holdings in shares of Essex Property Trust by 324.6% in the 3rd quarter. Centersquare Investment Management LLC now owns 362,414 shares of the real estate investment trust’s stock worth $87,787,000 after purchasing an additional 277,064 shares in the last quarter. Finally, Vanguard Group Inc. increased its holdings in shares of Essex Property Trust by 1.8% in the 1st quarter. Vanguard Group Inc. now owns 10,614,782 shares of the real estate investment trust’s stock worth $3,667,195,000 after purchasing an additional 184,047 shares in the last quarter. Institutional investors own 91.76% of the company’s stock.

Essex Property Trust Trading Down 0.8 %

ESS opened at $215.32 on Friday. The stock’s fifty day moving average is $212.42 and its two-hundred day moving average is $216.90. The company has a market capitalization of $13.82 billion, a P/E ratio of 28.56, a PEG ratio of 2.31 and a beta of 0.75. Essex Property Trust, Inc. has a 52 week low of $195.03 and a 52 week high of $300.33. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 1.02.

Essex Property Trust Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, July 14th. Shareholders of record on Friday, June 30th will be given a dividend of $2.31 per share. This represents a $9.24 annualized dividend and a yield of 4.29%. Essex Property Trust’s dividend payout ratio (DPR) is presently 122.55%.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on ESS shares. Stifel Nicolaus dropped their price target on Essex Property Trust from $260.00 to $245.00 in a research note on Friday, April 28th. Scotiabank upgraded Essex Property Trust from a “sector underperform” rating to a “sector outperform” rating and set a $240.00 price target on the stock in a research note on Wednesday, April 12th. StockNews.com initiated coverage on Essex Property Trust in a research note on Thursday, March 16th. They issued a “hold” rating on the stock. Mizuho lifted their target price on Essex Property Trust from $235.00 to $246.00 and gave the company a “neutral” rating in a research report on Thursday, February 23rd. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $250.00 target price on shares of Essex Property Trust in a research report on Thursday, February 9th. Four investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $248.33.

Essex Property Trust Profile

(Get Rating)

Essex Property Trust, Inc operates as a real estate investment trust. It engages in the ownership, operation, management, acquisition, development, and redevelopment of predominantly apartment communities. The company was founded by George M. Marcus in 1971 and is headquartered in San Mateo, CA.

Further Reading

Want to see what other hedge funds are holding ESS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Essex Property Trust, Inc. (NYSE:ESS – Get Rating).

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

Receive News & Ratings for Essex Property Trust Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Essex Property Trust and related companies with MarketBeat.com's FREE daily email newsletter.