Brookfield Asset Management Inc. lessened its position in shares of Essex Property Trust, Inc. (NYSE:ESS) by 22.9% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 530,510 shares of the real estate investment trust’s stock after selling 157,462 shares during the quarter. Essex Property Trust comprises approximately 0.7% of Brookfield Asset Management Inc.’s portfolio, making the stock its 25th largest position. Brookfield Asset Management Inc. owned about 0.80% of Essex Property Trust worth $136,484,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the company. IFP Advisors Inc raised its position 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 valued at $405,000 after buying an additional 4 shares during the period. BTR Capital Management Inc. raised its position 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 valued at $408,000 after buying an additional 11 shares during the period. Bbva Compass Bancshares Inc. raised its position 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 valued at $293,000 after buying an additional 16 shares during the period. CIBC Asset Management Inc raised its position 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 valued at $1,818,000 after buying an additional 24 shares during the period. Finally, Alps Advisors Inc. raised its position 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 valued at $1,440,000 after buying an additional 30 shares during the period. 99.45% of the stock is currently owned by hedge funds and other institutional investors.

Essex Property Trust, Inc. (NYSE ESS) traded down 0.21% during trading on Friday, hitting $259.40. 26,323 shares of the company’s stock traded hands. The stock has a market cap of $17.12 billion, a P/E ratio of 33.35 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 firm’s 50-day moving average price is $259.55 and its 200 day moving average price is $256.50.

Essex Property Trust (NYSE:ESS) last issued its earnings results on Thursday, July 27th. The real estate investment trust reported $2.97 EPS for the quarter, beating the Zacks’ consensus estimate of $2.92 by $0.05. Essex Property Trust had a net margin of 38.33% and a return on equity of 8.03%. The business had revenue of $339.06 million for the quarter, compared to the consensus estimate of $336.17 million. During the same quarter last year, the firm posted $2.74 EPS. Analysts anticipate that Essex Property Trust, Inc. will post $5.89 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Monday, October 16th. Stockholders of record on Friday, September 29th were paid a $1.75 dividend. This represents a $7.00 dividend on an annualized basis and a dividend yield of 2.69%. The ex-dividend date was Thursday, September 28th. Essex Property Trust’s dividend payout ratio is presently 89.97%.

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Several research firms have recently commented on ESS. Stifel Nicolaus began coverage on shares of Essex Property Trust in a research report on Friday, September 1st. They set a “buy” rating and a $294.00 price target on the stock. Mizuho lowered shares of Essex Property Trust from a “buy” rating to a “neutral” rating and set a $283.00 price target on the stock. in a research report on Monday, July 31st. Canaccord Genuity set a $270.00 price target on shares of Essex Property Trust and gave the company a “hold” rating in a research report on Monday, July 31st. Robert W. Baird reaffirmed a “buy” rating and set a $273.00 price target on shares of Essex Property Trust in a research report on Tuesday, September 12th. Finally, Cantor Fitzgerald reaffirmed a “buy” rating and set a $280.00 price target on shares of Essex Property Trust in a research report on Wednesday, September 13th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $268.27.

In related news, CEO Michael J. Schall sold 333 shares of the firm’s stock in a transaction on Tuesday, October 10th. The shares were sold at an average price of $257.92, for a total transaction of $85,887.36. Following the completion of the sale, the chief executive officer now directly owns 45,096 shares of the company’s stock, valued at approximately $11,631,160.32. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider John D. Eudy sold 166 shares of the firm’s stock in a transaction on Tuesday, October 10th. The shares were sold at an average price of $257.92, for a total transaction of $42,814.72. The disclosure for this sale can be found here. In the last three months, insiders sold 11,397 shares of company stock worth $3,022,662. Insiders own 3.30% of the company’s stock.

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.

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

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