Ontario Teachers Pension Plan Board cut its stake in Essex Property Trust, Inc. (NYSE:ESS) by 48.3% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 30,432 shares of the real estate investment trust’s stock after selling 28,466 shares during the period. Ontario Teachers Pension Plan Board’s holdings in Essex Property Trust were worth $7,829,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Advisors Asset Management Inc. boosted its stake in Essex Property Trust by 118.0% in the 1st quarter. Advisors Asset Management Inc. now owns 654 shares of the real estate investment trust’s stock worth $151,000 after purchasing an additional 354 shares in the last quarter. FNY Partners Fund LP acquired a new stake in Essex Property Trust in the 1st quarter worth approximately $165,000. Wetherby Asset Management Inc. acquired a new stake in Essex Property Trust in the 2nd quarter worth approximately $203,000. Perigon Wealth Management LLC boosted its stake in Essex Property Trust by 835.2% in the 1st quarter. Perigon Wealth Management LLC now owns 823 shares of the real estate investment trust’s stock worth $192,000 after purchasing an additional 735 shares in the last quarter. Finally, RB Capital Management LLC acquired a new stake in Essex Property Trust in the 2nd quarter worth approximately $218,000. Institutional investors own 99.43% of the company’s stock.

ILLEGAL ACTIVITY WARNING: This news story was first published by The Cerbat Gem and is the property of of The Cerbat Gem. If you are viewing this news story on another website, it was stolen and reposted in violation of United States & international trademark & copyright law. The original version of this news story can be accessed at https://www.thecerbatgem.com/2017/09/28/ontario-teachers-pension-plan-board-has-7-83-million-stake-in-essex-property-trust-inc-ess.html.

Essex Property Trust, Inc. (NYSE:ESS) traded up 0.33% during midday trading on Thursday, hitting $250.50. 14,342 shares of the stock were exchanged. 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 cap of $16.53 billion, a P/E ratio of 32.21 and a beta of 0.53. The firm has a 50-day moving average price of $263.80 and a 200-day moving average price of $252.81.

Essex Property Trust (NYSE:ESS) last posted its quarterly earnings data on Thursday, July 27th. The real estate investment trust reported $2.97 EPS for the quarter, topping analysts’ consensus estimates of $2.92 by $0.05. The firm had revenue of $339.06 million during the quarter, compared to analysts’ expectations 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 last year, the business posted $2.74 EPS. On average, equities research analysts anticipate that Essex Property Trust, Inc. will post $5.89 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 16th. Investors 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 is presently 89.97%.

A number of analysts recently commented on ESS shares. Canaccord Genuity set a $270.00 target price on shares of Essex Property Trust and gave the stock a “hold” rating in a research note on Monday, July 31st. Morgan Stanley lifted their target price on shares of Essex Property Trust from $260.00 to $267.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 16th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $276.00 target price (up from $267.00) on shares of Essex Property Trust in a research note on Sunday, August 13th. Stifel Nicolaus initiated coverage on shares of Essex Property Trust in a research note on Friday, September 1st. They set a “buy” rating and a $294.00 price objective for the company. Finally, Cantor Fitzgerald restated a “buy” rating and set a $278.00 price objective on shares of Essex Property Trust in a research note on Thursday, July 27th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. Essex Property Trust has a consensus rating of “Hold” and an average target price of $268.07.

In related news, insider Craig K. Zimmerman sold 167 shares of Essex Property Trust stock in a transaction dated Monday, September 11th. The stock was sold at an average price of $267.02, for a total transaction of $44,592.34. Following the completion of the sale, the insider now owns 10,450 shares in the company, valued at approximately $2,790,359. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Byron A. Scordelis sold 6,265 shares of Essex Property Trust stock in a transaction dated Thursday, August 24th. The stock was sold at an average price of $267.39, for a total value of $1,675,198.35. Following the sale, the director now owns 4,986 shares of the company’s stock, valued at approximately $1,333,206.54. The disclosure for this sale can be found here. In the last quarter, insiders have sold 11,314 shares of company stock valued at $2,999,949. 3.30% 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. 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.

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

Receive News & Stock Ratings for Essex Property Trust Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Essex Property Trust Inc. and related stocks with our FREE daily email newsletter.