1832 Asset Management L.P. purchased a new position in shares of Essex Property Trust Inc. (NYSE:ESS) during the second quarter, according to its most recent 13F filing with the SEC. The fund purchased 139,200 shares of the real estate investment trust’s stock, valued at approximately $31,960,000. 1832 Asset Management L.P. owned about 0.21% of Essex Property Trust as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Checchi Capital Advisers LLC raised its position in shares of Essex Property Trust by 19.3% in the second quarter. Checchi Capital Advisers LLC now owns 680 shares of the real estate investment trust’s stock worth $155,000 after buying an additional 110 shares in the last quarter. Global X Management Co. LLC raised its position in shares of Essex Property Trust by 110.2% in the second quarter. Global X Management Co. LLC now owns 763 shares of the real estate investment trust’s stock worth $174,000 after buying an additional 400 shares in the last quarter. Advisor Group Inc. bought a new position in shares of Essex Property Trust during the second quarter worth $219,000. OLD Mutual Customised Solutions Proprietary Ltd. bought a new position in shares of Essex Property Trust during the second quarter worth $228,000. Finally, First Citizens Bank & Trust Co. raised its position in shares of 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 worth $252,000 after buying an additional 30 shares in the last quarter. 99.10% of the stock is currently owned by hedge funds and other institutional investors.

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

Shares of Essex Property Trust Inc. (NYSE:ESS) traded up 0.90% during trading on Friday, reaching $215.33. 317,098 shares of the company’s stock traded hands. The stock has a 50-day moving average of $214.74 and a 200-day moving average of $222.30. Essex Property Trust Inc. has a 1-year low of $191.25 and a 1-year high of $244.71. The company has a market capitalization of $14.11 billion, a price-to-earnings ratio of 47.79 and a beta of 0.54.

Essex Property Trust (NYSE:ESS) last announced its quarterly earnings data on Thursday, October 27th. The real estate investment trust reported $2.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.76 by $0.05. The business had revenue of $329.17 million for the quarter, compared to the consensus estimate of $325.44 million. Essex Property Trust had a net margin of 23.54% and a return on equity of 4.76%. The company’s quarterly revenue was up 8.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.49 earnings per share. On average, equities analysts predict that Essex Property Trust Inc. will post $11.04 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 14th. Investors of record on Friday, September 30th were paid a dividend of $1.60 per share. This represents a $6.40 annualized dividend and a dividend yield of 2.97%. The ex-dividend date was Wednesday, September 28th. Essex Property Trust’s payout ratio is 141.91%.

A number of research firms have commented on ESS. Barclays PLC increased their price objective 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. Cantor Fitzgerald reiterated a “buy” rating and issued a $252.00 price objective on shares of Essex Property Trust in a report on Friday, October 28th. 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 objective (down previously from $246.00) on shares of Essex Property Trust in a report on Monday, August 1st. Finally, 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 objective for the company. Thirteen analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $242.93.

In related news, insider John D. Eudy sold 2,500 shares of the company’s stock in a transaction that occurred 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 transaction, the insider now owns 9,268 shares of the company’s stock, valued at $2,098,367.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 3.50% of the company’s stock.

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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