Quantinno Capital Management LP Has $92.21 Million Holdings in Essex Property Trust, Inc. $ESS

Quantinno Capital Management LP boosted its position in shares of Essex Property Trust, Inc. (NYSE:ESS) by 42.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 381,042 shares of the real estate investment trust’s stock after acquiring an additional 113,861 shares during the quarter. Quantinno Capital Management LP owned 0.59% of Essex Property Trust worth $92,212,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Geode Capital Management LLC increased its holdings in shares of Essex Property Trust by 1.2% during the 4th quarter. Geode Capital Management LLC now owns 1,873,698 shares of the real estate investment trust’s stock worth $488,601,000 after acquiring an additional 22,835 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in Essex Property Trust by 21.9% during the 4th quarter. Principal Financial Group Inc. now owns 1,679,607 shares of the real estate investment trust’s stock worth $439,520,000 after purchasing an additional 301,349 shares during the last quarter. Daiwa Securities Group Inc. boosted its stake in Essex Property Trust by 9.5% in the 3rd quarter. Daiwa Securities Group Inc. now owns 1,157,617 shares of the real estate investment trust’s stock valued at $309,848,000 after purchasing an additional 100,730 shares during the period. Dimensional Fund Advisors LP boosted its stake in Essex Property Trust by 6.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 995,810 shares of the real estate investment trust’s stock valued at $240,989,000 after purchasing an additional 57,173 shares during the period. Finally, Morgan Stanley grew its holdings in Essex Property Trust by 31.3% in the 4th quarter. Morgan Stanley now owns 958,090 shares of the real estate investment trust’s stock valued at $250,714,000 after buying an additional 228,165 shares in the last quarter. Institutional investors and hedge funds own 96.51% of the company’s stock.

Essex Property Trust Trading Down 1.0%

NYSE ESS opened at $290.67 on Tuesday. The company has a market cap of $18.68 billion, a price-to-earnings ratio of 32.66, a price-to-earnings-growth ratio of 12.65 and a beta of 0.70. Essex Property Trust, Inc. has a twelve month low of $238.46 and a twelve month high of $303.35. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 1.22. The business’s fifty day moving average is $285.78 and its 200 day moving average is $265.27.

Essex Property Trust (NYSE:ESS) last announced its earnings results on Tuesday, April 28th. The real estate investment trust reported $1.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.96 by ($2.31). The company had revenue of $484.76 million for the quarter, compared to the consensus estimate of $479.89 million. Essex Property Trust had a return on equity of 10.00% and a net margin of 30.03%.During the same period in the prior year, the business earned $3.97 earnings per share. As a group, sell-side analysts expect that Essex Property Trust, Inc. will post 16.11 EPS for the current fiscal year.

Essex Property Trust Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were paid a $2.59 dividend. This represents a $10.36 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date was Tuesday, June 30th. Essex Property Trust’s payout ratio is presently 116.40%.

Wall Street Analysts Forecast Growth

ESS has been the subject of a number of research reports. JPMorgan Chase & Co. lifted their target price on Essex Property Trust from $272.00 to $275.00 and gave the stock an “underweight” rating in a report on Monday, May 18th. Morgan Stanley upped their price target on shares of Essex Property Trust from $293.00 to $302.00 and gave the company an “equal weight” rating in a research note on Thursday, June 25th. Weiss Ratings raised shares of Essex Property Trust from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, June 12th. Royal Bank Of Canada lifted their price objective on shares of Essex Property Trust from $282.00 to $288.00 and gave the stock an “outperform” rating in a research note on Thursday, April 30th. Finally, Wells Fargo & Company boosted their price objective on shares of Essex Property Trust from $280.00 to $297.00 and gave the company an “equal weight” rating in a report on Wednesday, July 22nd. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $299.08.

Insider Activity

In related news, Director Mary Kasaris sold 600 shares of Essex Property Trust stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $279.45, for a total transaction of $167,670.00. Following the sale, the director directly owned 2,394 shares in the company, valued at approximately $669,003.30. This trade represents a 20.04% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 3.47% of the stock is currently owned by corporate insiders.

About Essex Property Trust

Essex Property Trust, Inc (NYSE: ESS) is a publicly traded real estate investment trust that acquires, develops, owns and operates multifamily residential properties. The company focuses on market-rate apartment communities and delivers a full suite of property services including leasing, resident services, asset management, and capital improvement programs designed to preserve and enhance long‑term property values.

Essex concentrates its portfolio in West Coast markets, with a significant presence in California and the Pacific Northwest.