Ferguson Wellman Capital Management Inc. Sells 230 Shares of Essex Property Trust, Inc. (ESS)

Ferguson Wellman Capital Management Inc. decreased its stake in Essex Property Trust, Inc. (NYSE:ESS) by 6.6% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 3,240 shares of the real estate investment trust’s stock after selling 230 shares during the period. Ferguson Wellman Capital Management Inc.’s holdings in Essex Property Trust were worth $834,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of ESS. Legal & General Group Plc raised its position in shares of Essex Property Trust by 7.1% in the first quarter. Legal & General Group Plc now owns 495,852 shares of the real estate investment trust’s stock valued at $114,806,000 after buying an additional 33,007 shares during the period. BlueCrest Capital Management Ltd acquired a new position in shares of Essex Property Trust during the first quarter valued at about $438,000. Comerica Bank raised its stake in shares of Essex Property Trust by 3.0% in the first quarter. Comerica Bank now owns 18,878 shares of the real estate investment trust’s stock worth $4,558,000 after buying an additional 555 shares during the last quarter. NN Investment Partners Holdings N.V. raised its stake in shares of Essex Property Trust by 4.0% in the second quarter. NN Investment Partners Holdings N.V. now owns 240,093 shares of the real estate investment trust’s stock worth $61,769,000 after buying an additional 9,300 shares during the last quarter. Finally, Sei Investments Co. raised its stake in shares of Essex Property Trust by 46.2% in the first quarter. Sei Investments Co. now owns 88,306 shares of the real estate investment trust’s stock worth $20,446,000 after buying an additional 27,900 shares during the last quarter. 98.88% of the stock is currently owned by institutional investors.

Essex Property Trust, Inc. (NYSE:ESS) traded down 1.29% during mid-day trading on Friday, reaching $259.14. 216,120 shares of the company traded hands. The stock has a 50-day moving average of $260.52 and a 200 day moving average of $245.65. The stock has a market capitalization of $17.10 billion, a PE ratio of 33.32 and a beta of 0.52. Essex Property Trust, Inc. has a 52-week low of $200.01 and a 52-week high of $268.97.

Essex Property Trust (NYSE:ESS) last issued its quarterly earnings data on Thursday, July 27th. The real estate investment trust reported $2.97 earnings per share for the quarter, beating the consensus estimate of $2.92 by $0.05. The firm had revenue of $339.06 million for the quarter, compared to analyst estimates of $336.17 million. Essex Property Trust had a net margin of 38.33% and a return on equity of 8.03%. During the same quarter last year, the firm earned $2.74 earnings per share. Equities research analysts expect that Essex Property Trust, Inc. will post $5.95 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 14th. Investors of record on Friday, June 30th were given a dividend of $1.75 per share. This represents a $7.00 annualized dividend and a yield of 2.70%. The ex-dividend date of this dividend was Wednesday, June 28th. Essex Property Trust’s payout ratio is presently 89.97%.

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A number of research firms have weighed in on ESS. Jefferies Group LLC restated a “hold” rating and set a $234.00 target price on shares of Essex Property Trust in a report on Tuesday, May 30th. Royal Bank Of Canada reaffirmed a “buy” rating and set a $267.00 price target on shares of Essex Property Trust in a research report on Sunday, July 16th. Zacks Investment Research raised Essex Property Trust from a “hold” rating to a “buy” rating and set a $283.00 price target on the stock in a research report on Tuesday, July 11th. Mizuho downgraded Essex Property Trust from a “buy” rating to a “neutral” rating and set a $283.00 target price on the stock. in a research report on Monday, July 31st. Finally, Cantor Fitzgerald reaffirmed a “buy” rating and issued a $269.00 price target on shares of Essex Property Trust in a report on Wednesday, May 3rd. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and six have assigned a buy rating to the stock. Essex Property Trust presently has an average rating of “Hold” and an average price target of $263.46.

In other Essex Property Trust news, Director Irving F. Lyons III sold 1,024 shares of Essex Property Trust stock in a transaction on Thursday, May 18th. The shares were sold at an average price of $254.22, for a total transaction of $260,321.28. Following the sale, the director now owns 8,854 shares in the company, valued at $2,250,863.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Michael J. Schall sold 333 shares of Essex Property Trust stock in a transaction on Thursday, August 10th. The stock was sold at an average price of $263.97, for a total transaction of $87,902.01. Following the sale, the chief executive officer now owns 45,096 shares in the company, valued at approximately $11,903,991.12. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 6,690 shares of company stock worth $1,717,142. Insiders own 3.30% of the company’s stock.

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.

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

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