Investec Asset Management LTD boosted its holdings in shares of Essex Property Trust, Inc. (NYSE:ESS) by 12.2% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 4,600 shares of the real estate investment trust’s stock after buying an additional 500 shares during the period. Investec Asset Management LTD’s holdings in Essex Property Trust were worth $1,183,000 as of its most recent SEC filing.
A number of other large investors have also bought and sold shares of ESS. BlackRock Inc. boosted its stake in Essex Property Trust by 2,296.8% during 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 period. Bank of New York Mellon Corp boosted its stake in Essex Property Trust by 38.3% during the second quarter. Bank of New York Mellon Corp now owns 1,488,052 shares of the real estate investment trust’s stock valued at $382,832,000 after buying an additional 412,316 shares during the period. American Century Companies Inc. bought a new stake in Essex Property Trust during the second quarter valued at $61,713,000. Vanguard Group Inc. boosted its stake in Essex Property Trust by 2.1% during 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 period. Finally, NN Investment Partners Holdings N.V. boosted its stake in Essex Property Trust by 173.3% during 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 period. 99.43% of the stock is owned by institutional investors.
Essex Property Trust, Inc. (NYSE:ESS) opened at 256.13 on Thursday. The stock has a market cap of $16.90 billion, a P/E ratio of 32.93 and a beta of 0.53. Essex Property Trust, Inc. has a one year low of $200.01 and a one year high of $270.04. The company’s 50-day moving average price is $263.80 and its 200-day moving average price is $252.81.
Essex Property Trust (NYSE:ESS) last announced its quarterly earnings data on Thursday, July 27th. The real estate investment trust reported $2.97 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.92 by $0.05. The business had revenue of $339.06 million during the quarter, compared to the consensus estimate 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. Analysts forecast that Essex Property Trust, Inc. will post $5.89 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 16th. Shareholders of record on Friday, September 29th will be paid a $1.75 dividend. This represents a $7.00 annualized dividend and a yield of 2.73%. The ex-dividend date is Thursday, September 28th. Essex Property Trust’s payout ratio is currently 89.97%.
ESS has been the subject of several research analyst reports. BMO Capital Markets set a $255.00 price objective on Essex Property Trust and gave the company a “hold” rating in a research note on Thursday, May 25th. Jefferies Group LLC reissued a “hold” rating and set a $234.00 price objective on shares of Essex Property Trust in a research note on Tuesday, May 30th. Evercore ISI lowered Essex Property Trust from an “in-line” rating to an “underperform” rating and set a $261.00 price objective for the company. in a research note on Monday, June 12th. BidaskClub raised Essex Property Trust from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, June 20th. Finally, BTIG Research lowered Essex Property Trust from a “buy” rating to a “neutral” rating in a research note on Friday, June 30th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. Essex Property Trust has an average rating of “Hold” and an average target price of $268.07.
In other news, insider John D. Eudy sold 166 shares of the firm’s stock in a transaction that occurred on Wednesday, July 12th. The shares were sold at an average price of $253.79, for a total transaction of $42,129.14. Following the transaction, the insider now directly owns 8,596 shares of the company’s stock, valued at $2,181,578.84. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Michael J. Schall sold 333 shares of the firm’s stock in a transaction that occurred on Monday, July 10th. The stock was sold at an average price of $256.06, for a total transaction of $85,267.98. Following the transaction, the insider now directly owns 45,096 shares in the company, valued at $11,547,281.76. The disclosure for this sale can be found here. In the last three months, insiders sold 11,314 shares of company stock valued at $2,999,949. 3.30% of the stock is owned by insiders.
Essex Property Trust Company Profile
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.
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