American Century Companies Inc. purchased a new position in Essex Property Trust, Inc. (NYSE:ESS) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 239,878 shares of the real estate investment trust’s stock, valued at approximately $61,713,000. American Century Companies Inc. owned about 0.36% of Essex Property Trust as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of ESS. Muzinich & Co. Inc. boosted its stake in Essex Property Trust by 246.5% in the first quarter. Muzinich & Co. Inc. now owns 551 shares of the real estate investment trust’s stock worth $128,000 after buying an additional 392 shares during the period. Advisors Asset Management Inc. boosted its stake in Essex Property Trust by 118.0% in the first quarter. Advisors Asset Management Inc. now owns 654 shares of the real estate investment trust’s stock worth $151,000 after buying an additional 354 shares during the period. FNY Partners Fund LP bought a new stake in Essex Property Trust during the first quarter worth approximately $165,000. Perigon Wealth Management LLC boosted its stake in Essex Property Trust by 835.2% in the first quarter. Perigon Wealth Management LLC now owns 823 shares of the real estate investment trust’s stock worth $192,000 after buying an additional 735 shares during the period. Finally, Warren Averett Asset Management LLC bought a new stake in Essex Property Trust during the first quarter worth approximately $201,000. 99.55% of the stock is currently owned by institutional investors.

Essex Property Trust, Inc. (NYSE:ESS) opened at 266.07 on Tuesday. Essex Property Trust, Inc. has a 1-year low of $200.01 and a 1-year high of $268.97. The company has a market capitalization of $17.56 billion, a P/E ratio of 34.21 and a beta of 0.52. The company has a 50-day moving average of $261.58 and a 200-day moving average of $248.50.

Essex Property Trust (NYSE:ESS) last issued its quarterly earnings results 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 for the quarter, compared to analysts’ expectations 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 in the prior year, the company earned $2.74 earnings per share. Equities analysts expect that Essex Property Trust, Inc. will post $5.95 EPS for the current fiscal year.

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A number of research analysts recently weighed in on the stock. Jefferies Group LLC reiterated a “hold” rating and issued a $234.00 price objective on shares of Essex Property Trust in a research note on Tuesday, May 30th. Royal Bank Of Canada restated a “buy” rating and set a $267.00 price target on shares of Essex Property Trust in a research report on Sunday, July 16th. Zacks Investment Research upgraded shares of Essex Property Trust from a “hold” rating to a “buy” rating and set a $283.00 price target for the company in a research report on Tuesday, July 11th. Mizuho lowered shares of Essex Property Trust from a “buy” rating to a “neutral” rating and set a $283.00 price target for the company. in a research report on Monday, July 31st. Finally, Cantor Fitzgerald restated a “buy” rating and set a $269.00 price target on shares of Essex Property Trust in a research report on Wednesday, May 3rd. Two analysts have rated the stock with a sell rating, nine have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $265.54.

In other Essex Property Trust news, insider Angela L. Kleiman sold 2,466 shares of the firm’s stock in a transaction that occurred on Thursday, August 17th. The shares were sold at an average price of $263.37, for a total transaction of $649,470.42. Following the sale, the insider now owns 9,643 shares of the company’s stock, valued at $2,539,676.91. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Byron A. Scordelis sold 6,265 shares of the firm’s stock in a transaction that occurred on Thursday, August 24th. The stock was sold at an average price of $267.39, for a total transaction of $1,675,198.35. Following the sale, the director now directly owns 4,986 shares in the company, valued at approximately $1,333,206.54. The disclosure for this sale can be found here. Insiders have sold 11,230 shares of company stock worth $2,977,186 in the last three months. Corporate insiders own 3.30% of the company’s stock.

About Essex Property Trust

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

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