Balyasny Asset Management LLC purchased a new position in shares of Essex Property Trust, Inc. (NYSE:ESS) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 22,801 shares of the real estate investment trust’s stock, valued at approximately $5,866,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. IFP Advisors Inc grew its holdings in shares of Essex Property Trust by 0.3% during the 2nd quarter. IFP Advisors Inc now owns 1,575 shares of the real estate investment trust’s stock worth $405,000 after purchasing an additional 4 shares during the period. BTR Capital Management Inc. grew its holdings in shares of Essex Property Trust by 0.7% during the 2nd quarter. BTR Capital Management Inc. now owns 1,587 shares of the real estate investment trust’s stock worth $408,000 after purchasing an additional 11 shares during the period. Bbva Compass Bancshares Inc. grew its holdings in shares of Essex Property Trust by 1.4% during the 2nd quarter. Bbva Compass Bancshares Inc. now owns 1,140 shares of the real estate investment trust’s stock worth $293,000 after purchasing an additional 16 shares during the period. CIBC Asset Management Inc grew its holdings in shares of Essex Property Trust by 0.3% during the 2nd quarter. CIBC Asset Management Inc now owns 7,065 shares of the real estate investment trust’s stock worth $1,818,000 after purchasing an additional 24 shares during the period. Finally, Alps Advisors Inc. grew its holdings in shares of Essex Property Trust by 0.5% during the 2nd quarter. Alps Advisors Inc. now owns 5,598 shares of the real estate investment trust’s stock worth $1,440,000 after purchasing an additional 30 shares during the period. Institutional investors and hedge funds own 99.46% of the company’s stock.

Essex Property Trust, Inc. (ESS) opened at 257.01 on Monday. The firm has a market cap of $16.96 billion, a price-to-earnings ratio of 33.05 and a beta of 0.53. The company’s 50-day moving average price is $260.85 and its 200 day moving average price is $254.82. Essex Property Trust, Inc. has a 1-year low of $200.01 and a 1-year high of $270.04.

Essex Property Trust (NYSE:ESS) last posted its quarterly earnings results on Thursday, July 27th. The real estate investment trust reported $2.97 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate 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 quarter in the previous year, the business earned $2.74 earnings per share. On average, equities analysts expect 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. 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 2.72%. The ex-dividend date of this dividend is Thursday, September 28th. Essex Property Trust’s dividend payout ratio (DPR) is presently 89.97%.

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A number of research firms have recently weighed in on ESS. Royal Bank Of Canada reiterated a “buy” rating and set a $267.00 price target on shares of Essex Property Trust in a report 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 target for the company in a report on Tuesday, July 11th. Jefferies Group LLC reiterated a “neutral” rating on shares of Essex Property Trust in a report on Monday, July 17th. Mizuho cut Essex Property Trust from a “buy” rating to a “neutral” rating and set a $283.00 price target for the company. in a report on Monday, July 31st. Finally, Cantor Fitzgerald reiterated a “buy” rating and set a $280.00 price target 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 issued a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $268.07.

In other Essex Property Trust news, insider Craig K. Zimmerman sold 167 shares of the business’s 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 transaction, the insider now owns 10,450 shares in the company, valued at $2,790,359. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Michael J. Schall sold 333 shares of the business’s stock in a transaction dated Thursday, August 10th. The stock was sold at an average price of $263.97, for a total value of $87,902.01. Following the transaction, the chief executive officer now owns 45,096 shares in the company, valued at approximately $11,903,991.12. The disclosure for this sale can be found here. In the last three months, insiders have sold 10,981 shares of company stock valued at $2,914,681. 3.30% of the stock is owned by company insiders.

Essex Property Trust Profile

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)

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