Perpetual Ltd bought a new stake in Essex Property Trust, Inc. (NYSE:ESS) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 15,556 shares of the real estate investment trust’s stock, valued at approximately $4,002,000.
Other institutional investors and hedge funds also recently modified their holdings of the company. Tower Research Capital LLC TRC increased its holdings in Essex Property Trust by 145.3% during the 2nd quarter. Tower Research Capital LLC TRC now owns 471 shares of the real estate investment trust’s stock worth $121,000 after purchasing an additional 279 shares in the last quarter. Sun Life Financial INC boosted its stake in shares of Essex Property Trust by 5,900.0% in the 2nd quarter. Sun Life Financial INC now owns 480 shares of the real estate investment trust’s stock worth $123,000 after buying an additional 472 shares during the last quarter. FNY Partners Fund LP purchased a new position in shares of Essex Property Trust in the 1st quarter worth approximately $165,000. Perigon Wealth Management LLC boosted its stake in shares of Essex Property Trust by 835.2% in the 1st quarter. Perigon Wealth Management LLC now owns 823 shares of the real estate investment trust’s stock worth $192,000 after buying an additional 735 shares during the last quarter. Finally, Wetherby Asset Management Inc. purchased a new position in shares of Essex Property Trust in the 2nd quarter worth approximately $203,000. 99.63% of the stock is owned by hedge funds and other institutional investors.
Essex Property Trust, Inc. (ESS) traded up 0.90% on Friday, reaching $261.99. The company had a trading volume of 121,654 shares. The stock’s 50 day moving average price is $258.91 and its 200-day moving average price is $257.45. The stock has a market capitalization of $17.29 billion, a PE ratio of 33.69 and a beta of 0.53. Essex Property Trust, Inc. has a 12-month low of $201.57 and a 12-month high of $270.04.
Essex Property Trust (NYSE:ESS) last announced its quarterly earnings data on Thursday, July 27th. The real estate investment trust reported $2.97 earnings per share for the quarter, beating analysts’ consensus estimates 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 previous year, the business posted $2.74 earnings per share. Equities analysts expect that Essex Property Trust, Inc. will post $5.89 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Monday, October 16th. Investors of record on Friday, September 29th were paid a $1.75 dividend. The ex-dividend date of this dividend was Thursday, September 28th. This represents a $7.00 dividend on an annualized basis and a yield of 2.70%. Essex Property Trust’s dividend payout ratio is currently 89.97%.
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Several equities analysts recently commented on the company. Robert W. Baird reiterated a “buy” rating and issued a $273.00 price objective on shares of Essex Property Trust in a research note on Tuesday, October 17th. Royal Bank Of Canada reiterated a “buy” rating and issued a $267.00 price objective on shares of Essex Property Trust in a research note on Sunday, July 16th. Barclays PLC reiterated a “buy” rating and issued a $283.00 price objective on shares of Essex Property Trust in a research note on Thursday, October 19th. Zacks Investment Research upgraded Essex Property Trust from a “hold” rating to a “buy” rating and set a $283.00 price objective on the stock in a research note on Tuesday, July 11th. Finally, Jefferies Group LLC reiterated a “neutral” rating on shares of Essex Property Trust in a research note on Monday, July 17th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. Essex Property Trust has an average rating of “Hold” and an average price target of $268.27.
In other news, insider John D. Eudy sold 166 shares of the business’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 transaction of $42,814.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider John F. Burkart sold 333 shares of the business’s stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $261.84, for a total transaction of $87,192.72. Following the sale, the insider now owns 4,818 shares of the company’s stock, valued at approximately $1,261,545.12. The disclosure for this sale can be found here. Insiders sold 11,397 shares of company stock valued at $3,022,662 in the last quarter. 3.30% of the stock is owned by 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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