Essex Property Trust, Inc. (ESS) Position Reduced by Chilton Capital Management LLC
Chilton Capital Management LLC reduced its stake in shares of Essex Property Trust, Inc. (NYSE:ESS) by 23.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 73,701 shares of the real estate investment trust’s stock after selling 22,046 shares during the quarter. Essex Property Trust comprises approximately 2.1% of Chilton Capital Management LLC’s holdings, making the stock its 7th largest position. Chilton Capital Management LLC owned 0.11% of Essex Property Trust worth $18,961,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Stifel Financial Corp grew its stake in Essex Property Trust by 1.5% during the 2nd quarter. Stifel Financial Corp now owns 13,791 shares of the real estate investment trust’s stock worth $3,548,000 after buying an additional 210 shares during the last quarter. Legg Mason Asset Management Japan Co. Ltd. bought a new position in shares of Essex Property Trust in the second quarter worth $772,000. Veritable L.P. grew its stake in shares of Essex Property Trust by 11.7% in the second quarter. Veritable L.P. now owns 1,871 shares of the real estate investment trust’s stock worth $481,000 after purchasing an additional 196 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Essex Property Trust by 2.9% in the second quarter. Dimensional Fund Advisors LP now owns 921,756 shares of the real estate investment trust’s stock worth $237,146,000 after purchasing an additional 26,095 shares in the last quarter. Finally, Virtu KCG Holdings LLC grew its stake in shares of Essex Property Trust by 73.0% in the second quarter. Virtu KCG Holdings LLC now owns 9,465 shares of the real estate investment trust’s stock worth $2,435,000 after purchasing an additional 3,994 shares in the last quarter. Hedge funds and other institutional investors own 99.43% of the company’s stock.
Shares of Essex Property Trust, Inc. (NYSE ESS) traded up 0.69% on Thursday, hitting $251.40. The stock had a trading volume of 83,884 shares. Essex Property Trust, Inc. has a one year low of $200.01 and a one year high of $270.04. The stock has a market capitalization of $16.59 billion, a PE ratio of 32.33 and a beta of 0.53. The firm’s 50 day moving average is $263.80 and its 200-day moving average is $252.81.
Essex Property Trust (NYSE:ESS) last announced its quarterly earnings results on Thursday, July 27th. The real estate investment trust reported $2.97 earnings per share for the quarter, topping analysts’ consensus estimates of $2.92 by $0.05. The firm had revenue of $339.06 million for the quarter, compared to the consensus estimate of $336.17 million. Essex Property Trust had a return on equity of 8.03% and a net margin of 38.33%. During the same quarter in the previous year, the business earned $2.74 earnings per share. Equities research analysts expect that Essex Property Trust, Inc. will post $5.89 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, October 16th. Shareholders of record on Friday, September 29th will be given a dividend of $1.75 per share. This represents a $7.00 dividend on an annualized basis and a yield of 2.78%. The ex-dividend date of this dividend is Thursday, September 28th. Essex Property Trust’s dividend payout ratio (DPR) is presently 89.97%.
In other Essex Property Trust news, insider John D. Eudy sold 166 shares of the business’s stock in a transaction that occurred on Wednesday, July 12th. The stock was sold at an average price of $253.79, for a total transaction of $42,129.14. Following the transaction, the insider now owns 8,596 shares of the company’s stock, valued at $2,181,578.84. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Michael J. Schall sold 333 shares of the business’s stock in a transaction that occurred on Monday, July 10th. The stock was sold at an average price of $256.06, for a total value of $85,267.98. Following the transaction, the insider now directly owns 45,096 shares in the company, valued at approximately $11,547,281.76. The disclosure for this sale can be found here. In the last three months, insiders have sold 11,314 shares of company stock worth $2,999,949. Company insiders own 3.30% of the company’s stock.
Several research firms have recently issued reports on ESS. Royal Bank Of Canada reissued a “buy” rating and issued a $267.00 price target on shares of Essex Property Trust in a research note on Sunday, July 16th. Zacks Investment Research upgraded Essex Property Trust from a “hold” rating to a “buy” rating and set a $283.00 price objective for the company in a report on Tuesday, July 11th. Jefferies Group LLC restated a “neutral” rating on shares of Essex Property Trust in a report on Monday, July 17th. Mizuho lowered Essex Property Trust from a “buy” rating to a “neutral” rating and set a $283.00 price objective for the company. in a report on Monday, July 31st. Finally, Cantor Fitzgerald reaffirmed a “buy” rating and set a $280.00 target price on shares of Essex Property Trust in a report on Wednesday, September 13th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Hold” and an average target price of $268.07.
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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