Employees Retirement System of Texas maintained its stake in shares of Essex Property Trust, Inc. (NYSE:ESS) during the 2nd quarter, according to its most recent filing with the SEC. The fund owned 25,000 shares of the real estate investment trust’s stock at the end of the 2nd quarter. Employees Retirement System of Texas’ holdings in Essex Property Trust were worth $6,432,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the stock. Vanguard Group Inc. boosted its holdings in Essex Property Trust by 0.8% during the 2nd quarter. Vanguard Group Inc. now owns 11,496,906 shares of the real estate investment trust’s stock valued at $2,957,809,000 after acquiring an additional 92,531 shares during the period. BlackRock Inc. boosted its holdings in Essex Property Trust by 1.5% during the 2nd quarter. BlackRock Inc. now owns 6,573,361 shares of the real estate investment trust’s stock valued at $1,691,128,000 after acquiring an additional 94,331 shares during the period. Principal Financial Group Inc. boosted its holdings in Essex Property Trust by 4.3% during the 2nd quarter. Principal Financial Group Inc. now owns 2,247,592 shares of the real estate investment trust’s stock valued at $578,237,000 after acquiring an additional 91,814 shares during the period. Bank of New York Mellon Corp boosted its holdings in Essex Property Trust by 38.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,488,052 shares of the real estate investment trust’s stock valued at $382,832,000 after acquiring an additional 412,316 shares during the period. Finally, Morgan Stanley boosted its holdings in Essex Property Trust by 7.5% during the 1st quarter. Morgan Stanley now owns 1,325,290 shares of the real estate investment trust’s stock valued at $306,844,000 after acquiring an additional 92,922 shares during the period. Institutional investors own 99.46% of the company’s stock.

In related news, insider Angela L. Kleiman sold 2,466 shares of the business’s stock in a transaction that occurred on Thursday, August 17th. The stock was sold at an average price of $263.37, for a total value of $649,470.42. Following the completion of the sale, the insider now owns 9,643 shares in the company, valued at $2,539,676.91. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Michael J. Schall sold 333 shares of the business’s stock in a transaction that occurred on Monday, July 10th. The shares were sold at an average price of $256.06, for a total value of $85,267.98. Following the completion of the sale, the insider now owns 45,096 shares of the company’s stock, valued at approximately $11,547,281.76. The disclosure for this sale can be found here. Insiders sold 11,314 shares of company stock valued at $2,999,949 in the last quarter. 3.30% of the stock is owned by company insiders.

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Essex Property Trust, Inc. (NYSE ESS) opened at 257.57 on Thursday. The company has a market cap of $17.00 billion, a price-to-earnings ratio of 33.12 and a beta of 0.53. Essex Property Trust, Inc. has a 12 month low of $200.01 and a 12 month high of $270.04. The stock has a 50 day moving average price of $261.17 and a 200 day moving average price of $254.63.

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 (EPS) for the quarter, beating analysts’ consensus estimates of $2.92 by $0.05. The firm had revenue of $339.06 million during the quarter, compared to analyst estimates 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. Analysts anticipate that Essex Property Trust, Inc. will post $5.89 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Monday, October 16th. Investors of record on Friday, September 29th will be issued a $1.75 dividend. The ex-dividend date is Thursday, September 28th. This represents a $7.00 dividend on an annualized basis and a dividend yield of 2.72%. Essex Property Trust’s payout ratio is 89.97%.

Several equities research analysts recently weighed in on the company. Cantor Fitzgerald restated a “buy” rating and set a $280.00 target price on shares of Essex Property Trust in a report on Wednesday, September 13th. Robert W. Baird restated a “buy” rating and set a $273.00 target price on shares of Essex Property Trust in a report on Tuesday, September 12th. Stifel Nicolaus assumed 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. BidaskClub raised Essex Property Trust from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, August 22nd. Finally, Barclays PLC reaffirmed an “overweight” rating and set a $280.00 price target (up previously from $269.00) on shares of Essex Property Trust in a research report on Monday, August 21st. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. The company 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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Institutional Ownership by Quarter for Essex Property Trust (NYSE:ESS)

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