Sumitomo Mitsui Trust Holdings Inc. decreased its stake in shares of Essex Property Trust Inc. (NYSE:ESS) by 1.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 230,513 shares of the real estate investment trust’s stock after selling 2,742 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned about 0.35% of Essex Property Trust worth $52,578,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Gemmer Asset Management LLC increased its stake in Essex Property Trust by 0.7% in the second quarter. Gemmer Asset Management LLC now owns 4,145 shares of the real estate investment trust’s stock valued at $945,000 after buying an additional 30 shares in the last quarter. First Citizens Bank & Trust Co. increased its stake in Essex Property Trust by 2.8% in the second quarter. First Citizens Bank & Trust Co. now owns 1,105 shares of the real estate investment trust’s stock valued at $252,000 after buying an additional 30 shares in the last quarter. IBM Retirement Fund increased its stake in Essex Property Trust by 0.4% in the second quarter. IBM Retirement Fund now owns 7,727 shares of the real estate investment trust’s stock valued at $1,840,000 after buying an additional 32 shares in the last quarter. Phocas Financial Corp. increased its stake in Essex Property Trust by 0.8% in the first quarter. Phocas Financial Corp. now owns 4,024 shares of the real estate investment trust’s stock valued at $941,000 after buying an additional 33 shares in the last quarter. Finally, LS Investment Advisors LLC increased its stake in Essex Property Trust by 1.6% in the second quarter. LS Investment Advisors LLC now owns 2,734 shares of the real estate investment trust’s stock valued at $624,000 after buying an additional 44 shares in the last quarter. 98.97% of the stock is owned by hedge funds and other institutional investors.

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

Essex Property Trust Inc. (NYSE:ESS) traded down 0.69% on Monday, reaching $207.27. 339,214 shares of the company were exchanged. The stock has a 50-day moving average price of $222.06 and a 200 day moving average price of $224.63. The stock has a market capitalization of $13.57 billion, a price-to-earnings ratio of 49.84 and a beta of 0.72. Essex Property Trust Inc. has a 52 week low of $191.25 and a 52 week high of $244.71.

Essex Property Trust (NYSE:ESS) last released its earnings results on Friday, July 29th. The real estate investment trust reported $2.74 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.70 by $0.04. Essex Property Trust had a net margin of 22.25% and a return on equity of 4.38%. During the same quarter last year, the firm posted $2.40 EPS. Analysts forecast that Essex Property Trust Inc. will post $11.01 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Friday, October 14th. Shareholders of record on Friday, September 30th were issued a dividend of $1.60 per share. The ex-dividend date of this dividend was Wednesday, September 28th. This represents a $6.40 dividend on an annualized basis and a yield of 3.09%. Essex Property Trust’s dividend payout ratio (DPR) is presently 153.85%.

Several analysts have recently weighed in on the stock. Canaccord Genuity reaffirmed a “hold” rating on shares of Essex Property Trust in a research note on Monday, June 20th. Jefferies Group boosted their price objective on shares of Essex Property Trust from $209.00 to $210.00 and gave the stock a “hold” rating in a research note on Wednesday, August 10th. Evercore Partners Inc. reissued a “hold” rating on shares of Essex Property Trust in a research note on Friday, July 15th. Evercore ISI downgraded shares of Essex Property Trust from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $244.00 to $243.00 in a research note on Friday, July 15th. Finally, Barclays PLC boosted their price objective on shares of Essex Property Trust from $242.00 to $243.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 19th. Fourteen investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $245.97.

In other Essex Property Trust news, Director Keith R. Guericke sold 5,000 shares of the stock in a transaction that occurred on Tuesday, August 9th. The shares were sold at an average price of $233.49, for a total transaction of $1,167,450.00. Following the sale, the director now directly owns 63,750 shares in the company, valued at approximately $14,884,987.50. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider John D. Eudy sold 2,500 shares of the stock in a transaction that occurred on Thursday, September 1st. The stock was sold at an average price of $226.41, for a total transaction of $566,025.00. Following the sale, the insider now owns 9,268 shares in the company, valued at $2,098,367.88. The disclosure for this sale can be found here. Company insiders own 3.50% of the company’s stock.

Essex Property Trust Company Profile

Essex Property Trust, Inc is a self-administered and self-managed real estate investment trust (REIT). The Company owns all of its interest in its real estate and other investments directly or indirectly through Essex Portfolio, L.P. (the Operating Partnership). The Company is engaged in the ownership, operation, management, acquisition, development and redevelopment of apartment communities.

5 Day Chart for NYSE:ESS

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