Robeco Institutional Asset Management B.V. boosted its stake in Essex Property Trust Inc (NYSE:ESS) by 54.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 8,827 shares of the real estate investment trust’s stock after purchasing an additional 3,121 shares during the quarter. Robeco Institutional Asset Management B.V.’s holdings in Essex Property Trust were worth $2,176,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors also recently modified their holdings of the business. Bbva Compass Bancshares Inc. boosted its stake in Essex Property Trust by 20.7% in the 2nd quarter. Bbva Compass Bancshares Inc. now owns 1,354 shares of the real estate investment trust’s stock worth $324,000 after purchasing an additional 232 shares during the period. Nissay Asset Management Corp Japan ADV boosted its stake in Essex Property Trust by 3.3% in the 2nd quarter. Nissay Asset Management Corp Japan ADV now owns 9,417 shares of the real estate investment trust’s stock worth $2,251,000 after purchasing an additional 298 shares during the period. Amalgamated Bank boosted its stake in Essex Property Trust by 4.1% in the 2nd quarter. Amalgamated Bank now owns 8,467 shares of the real estate investment trust’s stock worth $2,024,000 after purchasing an additional 330 shares during the period. TD Asset Management Inc. boosted its stake in Essex Property Trust by 1.7% in the 2nd quarter. TD Asset Management Inc. now owns 19,605 shares of the real estate investment trust’s stock worth $4,687,000 after purchasing an additional 336 shares during the period. Finally, Bridgewater Associates LP boosted its stake in Essex Property Trust by 11.6% in the 2nd quarter. Bridgewater Associates LP now owns 3,568 shares of the real estate investment trust’s stock worth $853,000 after purchasing an additional 370 shares during the period. Institutional investors and hedge funds own 95.81% of the company’s stock.
Several brokerages have commented on ESS. Mizuho restated a “hold” rating and issued a $265.00 target price on shares of Essex Property Trust in a research note on Monday. ValuEngine upgraded Essex Property Trust from a “sell” rating to a “hold” rating in a research note on Wednesday, July 11th. DA Davidson restated a “neutral” rating on shares of Essex Property Trust in a research note on Monday, August 6th. Citigroup downgraded Essex Property Trust from a “buy” rating to a “neutral” rating and dropped their price target for the company from $280.00 to $260.00 in a research report on Friday, September 14th. Finally, Stifel Nicolaus reiterated a “buy” rating and set a $275.00 price target on shares of Essex Property Trust in a research report on Wednesday, October 31st. Thirteen analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $264.42.
In related news, insider John D. Eudy sold 1,834 shares of the business’s stock in a transaction that occurred on Wednesday, October 24th. The stock was sold at an average price of $252.13, for a total value of $462,406.42. Following the completion of the sale, the insider now owns 11,486 shares in the company, valued at approximately $2,895,965.18. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider John F. Burkart sold 834 shares of the business’s stock in a transaction that occurred on Tuesday, October 30th. The stock was sold at an average price of $256.11, for a total value of $213,595.74. The disclosure for this sale can be found here. Insiders sold a total of 6,597 shares of company stock valued at $1,659,153 in the last 90 days. 3.40% of the stock is currently owned by corporate insiders.
NYSE:ESS opened at $249.58 on Tuesday. The company has a market capitalization of $16.38 billion, a P/E ratio of 20.96, a PEG ratio of 3.23 and a beta of 0.20. Essex Property Trust Inc has a 1-year low of $214.03 and a 1-year high of $259.83. The company has a quick ratio of 1.31, a current ratio of 1.31 and a debt-to-equity ratio of 0.88.
Essex Property Trust (NYSE:ESS) last released its earnings results on Monday, October 29th. The real estate investment trust reported $1.22 earnings per share for the quarter, missing the Zacks’ consensus estimate of $3.14 by ($1.92). The firm had revenue of $350.92 million during the quarter, compared to the consensus estimate of $351.58 million. Essex Property Trust had a return on equity of 5.52% and a net margin of 27.01%. During the same quarter in the previous year, the firm earned $2.98 EPS. On average, equities analysts forecast that Essex Property Trust Inc will post 12.56 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, October 12th. Investors of record on Friday, September 28th were given a $1.86 dividend. The ex-dividend date of this dividend was Thursday, September 27th. This represents a $7.44 dividend on an annualized basis and a yield of 2.98%. Essex Property Trust’s payout ratio is 62.47%.
Essex Property Trust Company Profile
Essex Property Trust, Inc, an S&P 500 company, is a fully integrated real estate investment trust (REIT) that acquires, develops, redevelops, and manages multifamily residential properties in selected West Coast markets. The Company currently has ownership interests in 247 apartment communities comprising approximately 60,000 apartment homes, excluding six properties in various stages of active development, one commercial building, preferred equity co-investments, and loan investments.
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