Essex Property Trust, Inc. (ESS) Stake Lifted by Veritable L.P.
Veritable L.P. grew its position in shares of Essex Property Trust, Inc. (NYSE:ESS) by 11.7% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,871 shares of the real estate investment trust’s stock after purchasing an additional 196 shares during the period. Veritable L.P.’s holdings in Essex Property Trust were worth $481,000 at the end of the most recent quarter.
Several other institutional investors have also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP increased its holdings 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 during the period. Virtu KCG Holdings LLC raised its position 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 buying an additional 3,994 shares in the last quarter. Renaissance Technologies LLC raised its position in shares of Essex Property Trust by 120.1% in the second quarter. Renaissance Technologies LLC now owns 250,900 shares of the real estate investment trust’s stock worth $64,549,000 after buying an additional 136,900 shares in the last quarter. Parametric Portfolio Associates LLC boosted its stake in Essex Property Trust by 14.4% during the second quarter. Parametric Portfolio Associates LLC now owns 131,212 shares of the real estate investment trust’s stock valued at $33,757,000 after buying an additional 16,506 shares during the period. Finally, Advisor Group Inc. boosted its stake in Essex Property Trust by 14.2% during the second quarter. Advisor Group Inc. now owns 1,021 shares of the real estate investment trust’s stock valued at $262,000 after buying an additional 127 shares during the period. 99.46% of the stock is currently owned by hedge funds and other institutional investors.
Essex Property Trust, Inc. (ESS) opened at 252.38 on Tuesday. Essex Property Trust, Inc. has a 12 month low of $200.01 and a 12 month high of $270.04. The company has a 50-day moving average of $261.66 and a 200-day moving average of $254.46. The stock has a market cap of $16.65 billion, a PE ratio of 32.45 and a beta of 0.53.
Essex Property Trust (NYSE:ESS) last posted its earnings results on Thursday, July 27th. The real estate investment trust reported $2.97 EPS for the quarter, beating analysts’ consensus estimates of $2.92 by $0.05. Essex Property Trust had a return on equity of 8.03% and a net margin of 38.33%. The firm had revenue of $339.06 million during the quarter, compared to the consensus estimate of $336.17 million. During the same period in the prior year, the company earned $2.74 EPS. On average, equities analysts forecast that Essex Property Trust, Inc. will post $5.89 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, October 16th. Investors of record on Friday, September 29th will be given a $1.75 dividend. This represents a $7.00 annualized dividend and a yield of 2.77%. The ex-dividend date of this dividend is Thursday, September 28th. Essex Property Trust’s dividend payout ratio is presently 89.97%.
In other Essex Property Trust news, insider Angela L. Kleiman sold 2,466 shares of the stock in a transaction 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 completion of the transaction, the insider now owns 9,643 shares in the company, valued at $2,539,676.91. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Michael J. Schall sold 333 shares of the stock in a transaction on Thursday, August 10th. The shares were sold at an average price of $263.97, for a total transaction of $87,902.01. Following the transaction, the chief executive officer now owns 45,096 shares of the company’s stock, valued at approximately $11,903,991.12. The disclosure for this sale can be found here. Insiders sold 11,314 shares of company stock worth $2,999,949 in the last 90 days. 3.30% of the stock is currently owned by company insiders.
A number of equities analysts have weighed in on the company. Canaccord Genuity set a $270.00 target price on Essex Property Trust and gave the stock a “hold” rating in a research note on Monday, July 31st. Morgan Stanley raised their price target on Essex Property Trust from $260.00 to $267.00 and gave the company an “overweight” rating in a report on Wednesday, August 16th. Royal Bank Of Canada reiterated an “outperform” rating and set a $276.00 price target (up previously from $267.00) on shares of Essex Property Trust in a research report on Sunday, August 13th. Stifel Nicolaus started coverage on Essex Property Trust in a research report on Friday, September 1st. They set a “buy” rating and a $294.00 price target for the company. Finally, Cantor Fitzgerald reissued a “buy” rating and set a $278.00 price objective on shares of Essex Property Trust in a report on Thursday, July 27th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target 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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