Duff & Phelps Investment Management Co. decreased its stake in Essex Property Trust Inc. (NYSE:ESS) by 10.7% during the second quarter, according to its most recent filing with the SEC. The fund owned 464,532 shares of the real estate investment trust’s stock after selling 55,550 shares during the period. Essex Property Trust accounts for 1.6% of Duff & Phelps Investment Management Co.’s investment portfolio, making the stock its 11th largest position. Duff & Phelps Investment Management Co. owned 0.71% of Essex Property Trust worth $105,955,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently made changes to their positions in the company. Bank of Montreal Can purchased a new position in shares of Essex Property Trust during the second quarter valued at about $36,845,000. HBK Investments L P purchased a new position in shares of Essex Property Trust during the first quarter valued at about $934,000. Livforsakringsbolaget Skandia Omsesidigt boosted its position in shares of Essex Property Trust by 47.9% in the second quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 7,100 shares of the real estate investment trust’s stock valued at $1,619,000 after buying an additional 2,300 shares during the period. Daiwa Securities Group Inc. boosted its position in shares of Essex Property Trust by 2.6% in the second quarter. Daiwa Securities Group Inc. now owns 2,085,538 shares of the real estate investment trust’s stock valued at $475,691,000 after buying an additional 52,958 shares during the period. Finally, Legal & General Group Plc boosted its position in shares of Essex Property Trust by 3.1% in the first quarter. Legal & General Group Plc now owns 400,591 shares of the real estate investment trust’s stock valued at $93,674,000 after buying an additional 12,029 shares during the period. Hedge funds and other institutional investors own 98.97% of the company’s stock.

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

Essex Property Trust Inc. (NYSE:ESS) traded up 0.21% during trading on Tuesday, hitting $207.70. The company had a trading volume of 186,082 shares. The company has a market capitalization of $13.60 billion, a price-to-earnings ratio of 49.94 and a beta of 0.72. Essex Property Trust Inc. has a 12-month low of $191.25 and a 12-month high of $244.71. The firm has a 50-day moving average of $221.64 and a 200 day moving average of $224.32.

Essex Property Trust (NYSE:ESS) last announced its quarterly earnings results on Friday, July 29th. The real estate investment trust reported $2.74 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.70 by $0.04. Essex Property Trust had a return on equity of 4.38% and a net margin of 22.25%. During the same period last year, the business posted $2.40 EPS. On average, equities research analysts forecast that Essex Property Trust Inc. will post $11.01 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Friday, October 14th. Investors of record on Friday, September 30th were paid a $1.60 dividend. This represents a $6.40 annualized dividend and a yield of 3.08%. The ex-dividend date was Wednesday, September 28th. Essex Property Trust’s dividend payout ratio is 153.85%.

ESS has been the topic of several research analyst reports. BTIG Research initiated coverage on Essex Property Trust in a research note on Thursday, August 25th. They set a “buy” rating and a $260.00 price objective on the stock. Barclays PLC raised their price objective on 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. Canaccord Genuity restated a “hold” rating and set a $239.00 price objective (down from $246.00) on shares of Essex Property Trust in a research note on Monday, August 1st. Evercore Partners Inc. restated a “hold” rating on shares of Essex Property Trust in a research note on Friday, July 15th. Finally, Evercore ISI cut 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. Fourteen investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $245.97.

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

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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