Profund Advisors LLC Sells 527 Shares of Essex Property Trust Inc (ESS)

Profund Advisors LLC reduced its holdings in Essex Property Trust Inc (NYSE:ESS) by 16.3% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,705 shares of the real estate investment trust’s stock after selling 527 shares during the period. Profund Advisors LLC’s holdings in Essex Property Trust were worth $651,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also modified their holdings of ESS. BlackRock Inc. boosted its stake in shares of Essex Property Trust by 1.4% during the 4th quarter. BlackRock Inc. now owns 6,812,160 shares of the real estate investment trust’s stock worth $1,644,253,000 after purchasing an additional 94,542 shares during the period. Daiwa Securities Group Inc. boosted its stake in shares of Essex Property Trust by 4.1% during the 1st quarter. Daiwa Securities Group Inc. now owns 1,332,100 shares of the real estate investment trust’s stock worth $320,610,000 after purchasing an additional 52,394 shares during the period. JPMorgan Chase & Co. boosted its stake in shares of Essex Property Trust by 1.6% during the 1st quarter. JPMorgan Chase & Co. now owns 1,179,052 shares of the real estate investment trust’s stock worth $283,775,000 after purchasing an additional 18,422 shares during the period. Cbre Clarion Securities LLC boosted its stake in shares of Essex Property Trust by 6.1% during the 4th quarter. Cbre Clarion Securities LLC now owns 1,091,140 shares of the real estate investment trust’s stock worth $263,368,000 after purchasing an additional 62,762 shares during the period. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Essex Property Trust by 2.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 989,305 shares of the real estate investment trust’s stock worth $238,104,000 after purchasing an additional 26,141 shares during the period. 97.48% of the stock is owned by institutional investors and hedge funds.

In related news, insider John F. Burkart sold 2,500 shares of Essex Property Trust stock in a transaction dated Friday, May 11th. The shares were sold at an average price of $243.19, for a total transaction of $607,975.00. Following the completion of the sale, the insider now owns 7,429 shares in the company, valued at approximately $1,806,658.51. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 3.30% of the company’s stock.



Shares of ESS opened at $234.49 on Friday. Essex Property Trust Inc has a 1-year low of $214.03 and a 1-year high of $270.04. The stock has a market cap of $15.49 billion, a P/E ratio of 19.69, a P/E/G ratio of 3.09 and a beta of 0.38. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.17 and a quick ratio of 1.17.

Essex Property Trust (NYSE:ESS) last announced its quarterly earnings data on Wednesday, May 2nd. The real estate investment trust reported $1.38 earnings per share for the quarter, beating analysts’ consensus estimates of $1.10 by $0.28. Essex Property Trust had a net margin of 25.08% and a return on equity of 5.10%. The company had revenue of $347.26 million during the quarter, compared to analyst estimates of $347.53 million. During the same quarter last year, the business posted $2.94 EPS. research analysts forecast that Essex Property Trust Inc will post 12.49 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 13th. Investors of record on Friday, June 29th will be issued a dividend of $1.86 per share. The ex-dividend date of this dividend is Thursday, June 28th. This represents a $7.44 dividend on an annualized basis and a yield of 3.17%. Essex Property Trust’s payout ratio is 62.47%.

A number of equities analysts recently commented on the stock. Morgan Stanley dropped their price target on shares of Essex Property Trust from $267.00 to $260.00 and set an “overweight” rating for the company in a research note on Thursday. Bank of America lifted their price target on shares of Essex Property Trust from $276.00 to $277.00 and gave the stock a “buy” rating in a research note on Friday, June 8th. ValuEngine cut shares of Essex Property Trust from a “hold” rating to a “sell” rating in a research note on Thursday, May 17th. Sandler O’Neill reaffirmed a “hold” rating and set a $250.00 price target on shares of Essex Property Trust in a research note on Tuesday, March 20th. Finally, SunTrust Banks cut shares of Essex Property Trust from a “buy” rating to a “hold” rating and lifted their price target for the stock from $241.99 to $253.00 in a research note on Tuesday, March 20th. They noted that the move was a valuation call. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. Essex Property Trust currently has an average rating of “Buy” and a consensus price target of $263.55.

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. The Company currently has ownership interests in 247 apartment communities comprising more than 60,000 apartment homes with an additional 7 properties in various stages of active development.

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

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