WINTON GROUP Ltd Acquires New Position in Essex Property Trust, Inc. (ESS)
WINTON GROUP Ltd acquired a new stake in shares of Essex Property Trust, Inc. (NYSE:ESS) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 3,049 shares of the real estate investment trust’s stock, valued at approximately $784,000.
Several other large investors also recently made changes to their positions in ESS. PNC Financial Services Group Inc. grew its stake in shares of Essex Property Trust by 1.0% during the first quarter. PNC Financial Services Group Inc. now owns 6,507 shares of the real estate investment trust’s stock valued at $1,506,000 after buying an additional 66 shares during the last quarter. Cambridge Investment Research Advisors Inc. bought a new position in shares of Essex Property Trust during the first quarter valued at about $405,000. Renaissance Technologies LLC grew its stake in shares of Essex Property Trust by 1,528.6% during the first quarter. Renaissance Technologies LLC now owns 114,000 shares of the real estate investment trust’s stock valued at $26,394,000 after buying an additional 107,000 shares during the last quarter. Gotham Asset Management LLC bought a new position in shares of Essex Property Trust during the first quarter valued at about $737,000. Finally, BlueCrest Capital Management Ltd bought a new position in shares of Essex Property Trust during the first quarter valued at about $438,000. 99.45% of the stock is currently owned by hedge funds and other institutional investors.
Essex Property Trust, Inc. (ESS) opened at 259.34 on Friday. The company has a market cap of $17.11 billion, a P/E ratio of 33.35 and a beta of 0.53. Essex Property Trust, Inc. has a 52 week low of $200.01 and a 52 week high of $270.04. The firm’s 50 day moving average is $259.36 and its 200-day moving average is $256.71.
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 for the quarter, topping the 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 firm had revenue of $339.06 million during the quarter, compared to analysts’ expectations of $336.17 million. During the same quarter in the prior year, the company earned $2.74 EPS. On average, analysts predict that Essex Property Trust, Inc. will post $5.89 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Monday, October 16th. Stockholders of record on Friday, September 29th were given a $1.75 dividend. The ex-dividend date of this dividend was Thursday, September 28th. This represents a $7.00 annualized dividend and a dividend yield of 2.70%. Essex Property Trust’s payout ratio is presently 89.97%.
A number of research analysts have recently issued reports on ESS shares. Barclays PLC raised their price objective on Essex Property Trust from $267.00 to $269.00 and gave the company an “overweight” rating in a research note on Tuesday, July 18th. BTIG Research cut Essex Property Trust from a “buy” rating to a “neutral” rating in a research note on Friday, June 30th. Robert W. Baird reaffirmed a “buy” rating and set a $273.00 price objective on shares of Essex Property Trust in a research note on Tuesday, September 12th. Zacks Investment Research upgraded shares of Essex Property Trust from a “hold” rating to a “buy” rating and set a $289.00 target price for the company in a report on Tuesday, July 18th. Finally, Royal Bank Of Canada reiterated a “buy” rating and set a $267.00 target price on shares of Essex Property Trust in a report on Sunday, July 16th. Two research 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 stock. The stock has a consensus rating of “Hold” and an average target price of $268.27.
In other news, insider John D. Eudy sold 166 shares of the company’s stock in a transaction that occurred on Tuesday, October 10th. The shares were sold at an average price of $257.92, for a total value of $42,814.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Angela L. Kleiman sold 2,466 shares of the company’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 transaction of $649,470.42. Following the completion of the sale, the insider now directly owns 9,643 shares of the company’s stock, valued at approximately $2,539,676.91. The disclosure for this sale can be found here. Insiders sold a total of 11,397 shares of company stock valued at $3,022,662 in the last ninety days. Corporate insiders own 3.30% of the company’s stock.
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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