Cozad Asset Management Inc. Trims Stake in Essex Property Trust, Inc. (NYSE:ESS)

Cozad Asset Management Inc. lessened its position in Essex Property Trust, Inc. (NYSE:ESS) by 7.9% in the 4th quarter, Holdings Channel.com reports. The fund owned 6,241 shares of the real estate investment trust’s stock after selling 533 shares during the period. Cozad Asset Management Inc.’s holdings in Essex Property Trust were worth $1,547,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the company. Lindbrook Capital LLC lifted its stake in Essex Property Trust by 111.5% in the fourth quarter. Lindbrook Capital LLC now owns 110 shares of the real estate investment trust’s stock worth $27,000 after purchasing an additional 58 shares during the last quarter. Bruce G. Allen Investments LLC purchased a new position in Essex Property Trust during the 4th quarter worth $41,000. Bear Mountain Capital Inc. acquired a new position in shares of Essex Property Trust during the fourth quarter valued at about $55,000. Blue Trust Inc. lifted its stake in shares of Essex Property Trust by 645.2% during the fourth quarter. Blue Trust Inc. now owns 231 shares of the real estate investment trust’s stock worth $57,000 after buying an additional 200 shares during the period. Finally, Tobam purchased a new stake in Essex Property Trust during the 4th quarter valued at about $60,000. 96.51% of the stock is owned by hedge funds and other institutional investors.

Essex Property Trust Stock Performance

NYSE ESS opened at $246.25 on Wednesday. The stock has a market cap of $15.81 billion, a PE ratio of 39.03, a P/E/G ratio of 3.66 and a beta of 0.80. Essex Property Trust, Inc. has a twelve month low of $203.85 and a twelve month high of $252.85. The stock has a fifty day simple moving average of $239.32 and a 200-day simple moving average of $232.35. The company has a current ratio of 3.26, a quick ratio of 3.26 and a debt-to-equity ratio of 1.11.

Essex Property Trust Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, April 12th. Shareholders of record on Friday, March 29th were given a dividend of $2.45 per share. The ex-dividend date was Wednesday, March 27th. 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 3.98%. Essex Property Trust’s dividend payout ratio (DPR) is currently 155.31%.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Raymond James raised shares of Essex Property Trust from a “market perform” rating to an “outperform” rating and set a $265.00 price target on the stock in a report on Monday, March 18th. Jefferies Financial Group raised shares of Essex Property Trust from a “hold” rating to a “buy” rating and raised their price objective for the stock from $215.00 to $281.00 in a research note on Tuesday, January 2nd. Wedbush reiterated a “neutral” rating and issued a $240.00 target price on shares of Essex Property Trust in a research note on Monday. Morgan Stanley increased their price target on shares of 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, The Goldman Sachs Group reaffirmed a “sell” rating and issued a $227.00 price objective on shares of Essex Property Trust in a report on Thursday, February 22nd. Four equities research analysts have rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $246.16.

Essex Property Trust Profile

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.