Boston Private Wealth LLC bought a new position in Essex Property Trust Inc. (NYSE:ESS) during the second quarter, according to its most recent 13F filing with the SEC. The firm bought 100,063 shares of the real estate investment trust’s stock, valued at approximately $22,823,000. Essex Property Trust makes up 0.9% of Boston Private Wealth LLC’s investment portfolio, making the stock its 26th largest position. Boston Private Wealth LLC owned 0.15% of Essex Property Trust as of its most recent filing with the SEC.

Other hedge funds have also recently made changes to their positions in the company. HBK Investments L P bought a new position in shares of Essex Property Trust during the first quarter worth $934,000. Geode Capital Management LLC raised its position in shares of Essex Property Trust by 1.9% in the first quarter. Geode Capital Management LLC now owns 652,211 shares of the real estate investment trust’s stock worth $152,275,000 after buying an additional 12,302 shares during the period. AXA raised its position in shares of Essex Property Trust by 1.5% in the first quarter. AXA now owns 4,345 shares of the real estate investment trust’s stock worth $1,016,000 after buying an additional 63 shares during the period. Pictet Asset Management Ltd. raised its position in shares of Essex Property Trust by 3.9% in the first quarter. Pictet Asset Management Ltd. now owns 34,888 shares of the real estate investment trust’s stock worth $7,301,000 after buying an additional 1,300 shares during the period. Finally, UBS Group AG raised its position in shares of Essex Property Trust by 38.4% in the first quarter. UBS Group AG now owns 70,797 shares of the real estate investment trust’s stock worth $16,557,000 after buying an additional 19,657 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 down 0.3791% during midday trading on Wednesday, hitting $206.9125. 87,857 shares of the stock traded hands. Essex Property Trust Inc. has a 1-year low of $191.25 and a 1-year high of $244.71. The company has a 50-day moving average of $221.13 and a 200-day moving average of $224.14. The stock has a market cap of $13.55 billion, a PE ratio of 49.7505 and a beta of 0.72.

Essex Property Trust (NYSE:ESS) last posted its earnings results on Friday, July 29th. The real estate investment trust reported $2.74 EPS for the quarter, topping the Thomson Reuters’ 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 period in the prior year, the business earned $2.40 earnings per share. On average, equities analysts expect that Essex Property Trust Inc. will post $11.01 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Friday, October 14th. Shareholders of record on Friday, September 30th were given 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%.

A number of brokerages have weighed in on ESS. Barclays PLC lifted their price target on shares of Essex Property Trust from $242.00 to $243.00 and gave the company an “equal weight” rating in a report on Tuesday, July 19th. Evercore Partners Inc. reiterated a “hold” rating on shares of Essex Property Trust in a report on Friday, July 15th. Canaccord Genuity reiterated a “hold” rating and issued a $239.00 price target (down previously from $246.00) on shares of Essex Property Trust in a report on Monday, August 1st. BTIG Research began coverage on shares of Essex Property Trust in a report on Thursday, August 25th. They issued a “buy” rating and a $260.00 price target on the stock. Finally, Jefferies Group lifted their price target on shares of Essex Property Trust from $209.00 to $210.00 and gave the company a “hold” rating in a report on Wednesday, August 10th. Fourteen analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $245.97.

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

About Essex Property Trust

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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