Harel Insurance Investments & Financial Services Ltd. acquires new stakes in Essex Property Trust, Inc. (NYSE:ESS)


Harel Insurance Investments & Financial Services Ltd. acquired a new stake in Essex Property Trust, Inc. (NYSE: ESS – Get Rating ) during the first quarter, according to the company in its most recent filing with the SEC. The firm acquired 150 shares of the real estate investment trust’s stock, valued at approximately $52,000.

A number of other large investors have also added to or reduced their stakes in ESS. Norges Bank bought a new position in Essex Property Trust during the 4th quarter valued at approximately $721,012,000. BlackRock Inc. increased its holdings in Essex Property Trust by 3.8% in the 4th quarter. BlackRock Inc. now owns 6,686,520 shares of the real estate investment trust’s stock valued at $2,355,194,000 after buying an additional 242,033 shares in the last quarter. State Street Corp boosted its holdings in Essex Property Trust by 4.8% in the 4th quarter. State Street Corp now owns 4,902,579 shares of the real estate investment trust’s stock valued at $1,736,904,000 after buying an additional 224,989 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in Essex Property Trust by 71.4% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 466,253 shares of the real estate investment trust’s stock valued at $161,081,000 after purchasing an additional 194,288 shares during the last quarter. Finally, Goldman Sachs Group Inc. boosted its holdings in Essex Property Trust by 19.9% ​​in the 4th quarter. Goldman Sachs Group Inc. now owns 449,483 shares of the real estate investment trust’s stock valued at $158,321,000 after buying an additional 74,633 shares in the last quarter. Institutional investors own 96.09% of the company’s shares.

Essex Property Trust Share Performance

NYSE ESS opened at $273.81 on Monday. The company has a fifty day simple moving average of $270.86 and a 200 day simple moving average of $311.31. Essex Property Trust, Inc. has a 12-month low of $250.62 and a 12-month high of $363.36. The company has a current ratio of 1.41, a quick ratio of 1.41, and a debt-to-equity ratio of 0.98. The company has a market cap of $17.89 billion, a P/E ratio of 45.33, a PEG ratio of 3.05 and a beta of 0.76.

Essex Property Trust (NYSE:ESS – Get Rating) last posted its quarterly earnings results on Tuesday, April 26th. The real estate investment trust reported $1.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.35 by ($2.23). Essex Property Trust had a net margin of 26.81% and a return on equity of 5.25%. In the same quarter last year, the company posted $3.07 earnings per share. Sell-side analysts predict that Essex Property Trust, Inc. will report 14.17 earnings per share for the current fiscal year.

Essex Property Trust dividend announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, July 15th. Investors of record on Thursday, June 30th were given a $2.20 dividend. This represents an annual dividend of $8.80 and a yield of 3.21%. The ex-dividend date was Wednesday, June 29th. Essex Property Trust’s payout ratio is currently 145.70%.

Promote and demote an analyst

Several research analysts have issued reports on the stock. Truist Financial decreased their target price on shares of Essex Property Trust from $323.00 to $299.00 and set a “buy” rating for the company in a report on Friday, June 24th. Goldman Sachs Group upgraded shares of Essex Property Trust from a “sell” rating to a “buy” rating and decreased their target price for the stock from $352.00 to $338.00 in a report on Tuesday, May 17th. StockNews.com assumed coverage on shares of Essex Property Trust in a report on Thursday, March 31st. They assign a “hold” rating to the company. Morgan Stanley lowered their target price on shares of Essex Property Trust from $313.00 to $270.00 and set an “equal weight” rating for the company in a report on Friday, July 15th. Finally, Jefferies Financial Group reduced their target price on shares of Essex Property Trust from $316.00 to $235.00 and set a “hold” rating for the company in a report on Thursday, June 30th. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and eight have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $313.63, based on data from MarketBeat.

Essex Property Trust Profile

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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 select West Coast markets. Essex currently has interests in 246 residential developments comprising approximately 60,000 apartment homes with an additional 6 properties in various stages of active development.

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



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