BT Investment Management Ltd Takes $1.11 Million Position in Essex Property Trust, Inc. (ESS)

BT Investment Management Ltd acquired a new position in shares of Essex Property Trust, Inc. (NYSE:ESS) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 4,329 shares of the real estate investment trust’s stock, valued at approximately $1,114,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ESS. BlackRock Inc. boosted its holdings in shares of Essex Property Trust by 2,296.8% during the 1st quarter. BlackRock Inc. now owns 6,479,030 shares of the real estate investment trust’s stock worth $1,500,090,000 after buying an additional 6,208,705 shares during the period. Bank of New York Mellon Corp boosted its holdings in shares of 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 worth $382,832,000 after buying an additional 412,316 shares during the period. American Century Companies Inc. bought a new stake in shares of Essex Property Trust during the 2nd quarter worth $61,713,000. Vanguard Group Inc. boosted its holdings in shares of Essex Property Trust by 2.1% during the 1st quarter. Vanguard Group Inc. now owns 11,404,375 shares of the real estate investment trust’s stock worth $2,640,455,000 after buying an additional 229,503 shares during the period. Finally, NN Investment Partners Holdings N.V. boosted its holdings in shares of Essex Property Trust by 173.3% during the 1st quarter. NN Investment Partners Holdings N.V. now owns 230,793 shares of the real estate investment trust’s stock worth $53,435,000 after buying an additional 146,356 shares during the period. 99.43% of the stock is owned by institutional investors and hedge funds.

Essex Property Trust, Inc. (ESS) opened at 257.41 on Wednesday. Essex Property Trust, Inc. has a 52 week low of $200.01 and a 52 week high of $270.04. The stock has a 50 day moving average of $263.80 and a 200-day moving average of $252.81. The firm has a market cap of $16.99 billion, a PE ratio of 33.10 and a beta of 0.53.

Essex Property Trust (NYSE:ESS) last announced its 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. The company had revenue of $339.06 million during the quarter, compared to analysts’ expectations of $336.17 million. Essex Property Trust had a net margin of 38.33% and a return on equity of 8.03%. During the same quarter in the previous year, the business posted $2.74 earnings per share. Analysts expect that Essex Property Trust, Inc. will post $5.89 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 16th. Stockholders of record on Friday, September 29th will be given a $1.75 dividend. This represents a $7.00 dividend on an annualized basis and a dividend yield of 2.72%. Essex Property Trust’s payout ratio is presently 89.97%.

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A number of analysts have weighed in on ESS shares. Canaccord Genuity set a $270.00 price target on shares of Essex Property Trust and gave the company a “hold” rating in a report on Monday, July 31st. Morgan Stanley increased their price target on shares of 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 reissued an “outperform” rating and issued a $276.00 price target (up from $267.00) on shares of Essex Property Trust in a report on Sunday, August 13th. Stifel Nicolaus started coverage on shares of Essex Property Trust in a report on Friday, September 1st. They issued a “buy” rating and a $294.00 price target for the company. Finally, Cantor Fitzgerald reissued a “buy” rating and issued a $278.00 price target on shares of Essex Property Trust in a report on Thursday, July 27th. Two analysts have rated the stock with a sell rating, nine have given a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of “Hold” and an average price target of $268.07.

In other news, insider Michael J. Schall sold 333 shares of the business’s stock in a transaction dated 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 $11,547,281.76. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider John D. Eudy sold 166 shares of the business’s stock in a transaction dated Wednesday, July 12th. The shares were sold at an average price of $253.79, for a total transaction of $42,129.14. Following the completion of the sale, the insider now directly owns 8,596 shares of the company’s stock, valued at approximately $2,181,578.84. The disclosure for this sale can be found here. In the last three months, insiders sold 11,314 shares of company stock valued at $2,999,949. 3.30% of the stock is currently 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.

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

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