Essex Property Trust, Inc. (NYSE:ESS) Shares Bought by Bank of America Corp DE

Posted by Defense World Staff on Jun 8th, 2023

Bank of America Corp DE grew its stake in shares of Essex Property Trust, Inc. (NYSE:ESS – Get Rating) by 7.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 213,515 shares of the real estate investment trust’s stock after purchasing an additional 14,624 shares during the quarter. Bank of America Corp DE owned 0.33% of Essex Property Trust worth $45,248,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. US Asset Management LLC acquired a new position in shares of Essex Property Trust in the fourth quarter worth about $45,000. Lazard Asset Management LLC lifted its stake in shares of Essex Property Trust by 25.3% in the first quarter. Lazard Asset Management LLC now owns 243 shares of the real estate investment trust’s stock worth $83,000 after acquiring an additional 49 shares in the last quarter. Bessemer Group Inc. lifted its stake in shares of Essex Property Trust by 136.1% in the third quarter. Bessemer Group Inc. now owns 255 shares of the real estate investment trust’s stock worth $61,000 after acquiring an additional 147 shares in the last quarter. CENTRAL TRUST Co lifted its stake in shares of Essex Property Trust by 51.3% in the third quarter. CENTRAL TRUST Co now owns 295 shares of the real estate investment trust’s stock worth $71,000 after acquiring an additional 100 shares in the last quarter. Finally, Guardian Wealth Advisors LLC bought a new stake in Essex Property Trust in the third quarter valued at about $78,000. Institutional investors and hedge funds own 91.76% of the company’s stock.

Analyst Ratings Changes

Several analysts recently weighed in on ESS shares. Barclays lowered their price objective on Essex Property Trust from $226.00 to $224.00 in a report on Wednesday, May 31st. BMO Capital Markets lowered Essex Property Trust from a “market perform” rating to an “underperform” rating and lowered their target price for the company from $239.00 to $200.00 in a report on Monday, April 17th. Wolfe Research lowered Essex Property Trust from a “peer perform” rating to an “underperform” rating and set a $204.00 target price for the company. in a report on Monday, May 15th. Truist Financial increased their price objective on Essex Property Trust from $250.00 to $255.00 and gave the stock a “buy” rating in a report on Thursday, March 9th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $250.00 target price on shares of Essex Property Trust in a research report on Thursday, February 9th. Five research analysts have rated the stock with a sell rating, ten have given a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, Essex Property Trust presently has an average rating of “Hold” and a consensus price target of $245.09.

Essex Property Trust Stock Up 2.3 %

NYSE ESS opened at $230.80 on Thursday. The stock has a market cap of $14.81 billion, a PE ratio of 30.61, a PEG ratio of 2.35 and a beta of 0.75. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.95 and a current ratio of 0.95. Essex Property Trust, Inc. has a twelve month low of $195.03 and a twelve month high of $300.33. The firm has a 50-day simple moving average of $213.58 and a 200 day simple moving average of $216.91.

Essex Property Trust Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 14th. Shareholders of record on Friday, June 30th will be paid a dividend of $2.31 per share. This represents a $9.24 dividend on an annualized basis and a yield of 4.00%. The ex-dividend date is Thursday, June 29th. Essex Property Trust’s dividend payout ratio is 122.55%.

About Essex Property Trust

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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.