Advisor Partners LLC raised its stake in shares of Essex Property Trust, Inc. (NYSE:ESS) by 5.7% during the second quarter, Holdings Channel reports. The fund owned 1,804 shares of the real estate investment trust’s stock after buying an additional 98 shares during the period. Advisor Partners LLC’s holdings in Essex Property Trust were worth $464,000 as of its most recent SEC filing.
Other large investors have also added to or reduced their stakes in the company. BlackRock Inc. raised its stake in Essex Property Trust by 2,296.8% in the first quarter. BlackRock Inc. now owns 6,479,030 shares of the real estate investment trust’s stock valued at $1,500,090,000 after buying an additional 6,208,705 shares during the last quarter. Bank of Montreal Can raised its stake in Essex Property Trust by 139.6% in the first quarter. Bank of Montreal Can now owns 950,717 shares of the real estate investment trust’s stock valued at $220,119,000 after buying an additional 553,947 shares during the last quarter. Vanguard Group Inc. raised its stake in Essex Property Trust by 2.1% in the first quarter. Vanguard Group Inc. now owns 11,404,375 shares of the real estate investment trust’s stock valued at $2,640,455,000 after buying an additional 229,503 shares during the last quarter. NN Investment Partners Holdings N.V. raised its stake in Essex Property Trust by 173.3% in the first quarter. NN Investment Partners Holdings N.V. now owns 230,793 shares of the real estate investment trust’s stock valued at $53,435,000 after buying an additional 146,356 shares during the last quarter. Finally, Brookfield Asset Management Inc. raised its stake in Essex Property Trust by 24.1% in the first quarter. Brookfield Asset Management Inc. now owns 687,972 shares of the real estate investment trust’s stock valued at $159,286,000 after buying an additional 133,417 shares during the last quarter. 98.88% of the stock is owned by hedge funds and other institutional investors.
Essex Property Trust, Inc. (NYSE:ESS) opened at 262.69 on Wednesday. The company has a market capitalization of $17.33 billion, a P/E ratio of 33.78 and a beta of 0.52. The firm has a 50-day moving average price of $261.14 and a 200 day moving average price of $244.46. Essex Property Trust, Inc. has a 1-year low of $200.01 and a 1-year high of $268.97.
Essex Property Trust (NYSE:ESS) last issued its quarterly earnings results on Thursday, July 27th. The real estate investment trust reported $2.97 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.92 by $0.05. Essex Property Trust had a return on equity of 8.03% and a net margin of 38.33%. The firm had revenue of $339.06 million during the quarter, compared to analysts’ expectations of $336.17 million. During the same period in the previous year, the business earned $2.74 earnings per share. On average, equities analysts predict that Essex Property Trust, Inc. will post $5.97 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, July 14th. Shareholders of record on Friday, June 30th were paid a dividend of $1.75 per share. This represents a $7.00 dividend on an annualized basis and a yield of 2.66%. The ex-dividend date was Wednesday, June 28th. Essex Property Trust’s dividend payout ratio (DPR) is currently 89.97%.
TRADEMARK VIOLATION WARNING: This piece was published by StockNewsTimes and is the sole property of of StockNewsTimes. If you are accessing this piece on another publication, it was illegally stolen and reposted in violation of US & international copyright and trademark legislation. The correct version of this piece can be read at https://stocknewstimes.com/2017/08/09/advisor-partners-llc-boosts-position-in-essex-property-trust-inc-ess.html.
Several equities research analysts recently issued reports on ESS shares. Zacks Investment Research raised shares of Essex Property Trust from a “sell” rating to a “hold” rating in a report on Monday, April 24th. BidaskClub raised shares of Essex Property Trust from a “buy” rating to a “strong-buy” rating in a report on Tuesday, June 20th. SunTrust Banks, Inc. lowered shares of Essex Property Trust from a “buy” rating to a “hold” rating and set a $257.00 target price for the company. in a report on Thursday, May 18th. They noted that the move was a valuation call. BTIG Research lowered shares of Essex Property Trust from a “buy” rating to a “neutral” rating in a report on Friday, June 30th. Finally, Evercore ISI lowered shares of Essex Property Trust from an “in-line” rating to an “underperform” rating and set a $261.00 target price for the company. in a report on Monday, June 12th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and six have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $262.92.
In other Essex Property Trust news, insider Michael J. Schall sold 13,668 shares of the business’s stock in a transaction on Friday, May 12th. The stock was sold at an average price of $252.63, for a total transaction of $3,452,946.84. Following the transaction, the insider now owns 58,431 shares of the company’s stock, valued at $14,761,423.53. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider John D. Eudy sold 4,301 shares of the business’s stock in a transaction on Thursday, May 11th. The stock was sold at an average price of $252.40, for a total value of $1,085,572.40. Following the transaction, the insider now directly owns 12,731 shares in the company, valued at approximately $3,213,304.40. The disclosure for this sale can be found here. Insiders have sold 24,075 shares of company stock worth $6,101,503 in the last three months. 3.30% of the stock is currently owned by corporate insiders.
About Essex Property Trust
Essex Property Trust, Inc is a self-administered and self-managed real estate investment trust. The Company is engaged primarily in the ownership, operation, management, acquisition, development and redevelopment of predominantly apartment communities, located along the West Coast. Its segments include Southern California, Northern California, Seattle Metro and Other real estate assets.
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).
Receive News & Ratings for Essex Property Trust Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Essex Property Trust Inc. and related companies with MarketBeat.com's FREE daily email newsletter.
