Aperio Group LLC raised its stake in shares of Essex Property Trust Inc (NYSE:ESS) by 5.4% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 28,983 shares of the real estate investment trust’s stock after acquiring an additional 1,482 shares during the period. Aperio Group LLC’s holdings in Essex Property Trust were worth $6,976,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Tower Research Capital LLC TRC purchased a new stake in Essex Property Trust during the 4th quarter valued at approximately $100,000. Shelton Capital Management purchased a new stake in Essex Property Trust during the 4th quarter valued at approximately $208,000. Checchi Capital Advisers LLC purchased a new stake in Essex Property Trust during the 4th quarter valued at approximately $217,000. Wolverine Asset Management LLC purchased a new stake in Essex Property Trust during the 4th quarter valued at approximately $240,000. Finally, Everence Capital Management Inc. purchased a new stake in Essex Property Trust during the 4th quarter valued at approximately $249,000. 97.44% of the stock is owned by hedge funds and other institutional investors.
Several analysts have commented on the company. ValuEngine downgraded Essex Property Trust from a “hold” rating to a “sell” rating in a research note on Thursday, May 17th. Sandler O’Neill reaffirmed a “hold” rating and set a $250.00 price objective on shares of Essex Property Trust in a research note on Tuesday, March 20th. SunTrust Banks downgraded Essex Property Trust from a “buy” rating to a “hold” rating and upped their price objective for the company from $241.99 to $253.00 in a research note on Tuesday, March 20th. They noted that the move was a valuation call. JPMorgan Chase & Co. reduced their price objective on Essex Property Trust from $281.00 to $277.00 and set an “overweight” rating for the company in a research note on Tuesday, March 6th. Finally, BMO Capital Markets raised Essex Property Trust from a “market perform” rating to an “outperform” rating and upped their price objective for the company from $250.00 to $255.00 in a research note on Friday, March 2nd. They noted that the move was a valuation call. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $264.25.
Shares of Essex Property Trust opened at $233.15 on Friday, Marketbeat reports. The company has a market cap of $15.36 billion, a PE ratio of 19.58, a price-to-earnings-growth ratio of 3.08 and a beta of 0.38. Essex Property Trust Inc has a 12-month low of $214.03 and a 12-month high of $270.04. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.88.
Essex Property Trust (NYSE:ESS) last released its quarterly earnings results on Wednesday, May 2nd. The real estate investment trust reported $1.38 earnings per share for the quarter, topping analysts’ consensus estimates of $1.10 by $0.28. The business had revenue of $347.26 million for the quarter, compared to analysts’ expectations of $347.53 million. Essex Property Trust had a return on equity of 5.10% and a net margin of 25.08%. During the same quarter in the prior year, the firm posted $2.94 EPS. equities research analysts expect that Essex Property Trust Inc will post 12.48 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, July 13th. Investors of record on Friday, June 29th will be issued a $1.86 dividend. This represents a $7.44 dividend on an annualized basis and a dividend yield of 3.19%. The ex-dividend date is Thursday, June 28th. Essex Property Trust’s dividend payout ratio is currently 62.47%.
In related news, insider John F. Burkart sold 2,500 shares of the company’s stock in a transaction that occurred on Friday, May 11th. The stock was sold at an average price of $243.19, for a total value of $607,975.00. Following the sale, the insider now owns 7,429 shares in the company, valued at approximately $1,806,658.51. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Glenn Olnick sold 1,600,000 shares of the company’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $0.10, for a total value of $160,000.00. Corporate insiders own 3.30% of the company’s stock.
Essex Property Trust 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 more than 60,000 apartment homes with an additional 7 properties in various stages of active development.
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