Grey Street Capital LLC purchased a new stake in Essex Property Trust, Inc. (NYSE:ESS – Free Report) during the 1st quarter, HoldingsChannel.com reports. The fund purchased 3,000 shares of the real estate investment trust’s stock, valued at approximately $627,000.

Several other large investors have also recently bought and sold shares of ESS. Cambridge Investment Research Advisors Inc. grew its position in shares of Essex Property Trust by 24.8% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 2,261 shares of the real estate investment trust’s stock worth $781,000 after purchasing an additional 450 shares in the last quarter. Allianz Asset Management GmbH boosted its position in shares of Essex Property Trust by 1.2% during the 1st quarter. Allianz Asset Management GmbH now owns 88,915 shares of the real estate investment trust’s stock worth $30,718,000 after acquiring an additional 1,050 shares in the last quarter. Prudential PLC acquired a new stake in shares of Essex Property Trust during the 1st quarter worth approximately $475,000. Vanguard Group Inc. boosted its position in shares of Essex Property Trust by 1.8% during 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 acquiring an additional 184,047 shares in the last quarter. Finally, Baird Financial Group Inc. boosted its position in shares of Essex Property Trust by 3.6% during the 1st quarter. Baird Financial Group Inc. now owns 53,635 shares of the real estate investment trust’s stock worth $18,530,000 after acquiring an additional 1,847 shares in the last quarter. 92.78% of the stock is owned by institutional investors.

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Essex Property Trust Trading Up 0.0 %

NYSE ESS traded up $0.11 during mid-day trading on Friday, reaching $236.56. 101,495 shares of the stock were exchanged, compared to its average volume of 458,560. Essex Property Trust, Inc. has a one year low of $195.03 and a one year high of $292.34. The stock has a 50 day simple moving average of $237.78 and a 200-day simple moving average of $225.02. The stock has a market cap of $15.18 billion, a P/E ratio of 28.90, a P/E/G ratio of 2.48 and a beta of 0.77. The company has a debt-to-equity ratio of 1.03, a current ratio of 1.27 and a quick ratio of 1.27.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. Stifel Nicolaus lowered shares of Essex Property Trust from a “buy” rating to a “hold” rating and increased their price target for the stock from $245.00 to $250.00 in a research report on Monday, July 17th. Piper Sandler upgraded shares of Essex Property Trust from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $242.00 to $271.00 in a research report on Monday, May 1st. Morgan Stanley increased their price target on shares of Essex Property Trust from $228.50 to $244.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 19th. Mizuho reduced their price target on shares of Essex Property Trust from $246.00 to $221.00 in a research report on Friday, May 19th. Finally, Wells Fargo & Company upgraded shares of Essex Property Trust from an “underweight” rating to an “equal weight” rating and raised their target price for the company from $208.00 to $247.00 in a research report on Thursday, August 10th. Three research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $244.60.

Check Out Our Latest Stock Analysis on Essex Property Trust

Essex Property Trust Company Profile

(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 251 apartment communities comprising approximately 62,000 apartment homes with an additional property in active development.

See Also

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 – Free Report).

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