Toronto Dominion Bank boosted its position in Essex Property Trust Inc (NYSE:ESS) by 13.7% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 28,442 shares of the real estate investment trust’s stock after purchasing an additional 3,427 shares during the period. Toronto Dominion Bank’s holdings in Essex Property Trust were worth $6,864,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently modified their holdings of ESS. Janus Henderson Group PLC boosted its stake in Essex Property Trust by 292.6% in the third quarter. Janus Henderson Group PLC now owns 469,858 shares of the real estate investment trust’s stock worth $119,358,000 after buying an additional 350,192 shares in the last quarter. Barings LLC purchased a new stake in Essex Property Trust in the third quarter worth approximately $63,549,000. Canada Pension Plan Investment Board boosted its stake in Essex Property Trust by 7,265.5% in the third quarter. Canada Pension Plan Investment Board now owns 184,505 shares of the real estate investment trust’s stock worth $46,870,000 after buying an additional 182,000 shares in the last quarter. Principal Financial Group Inc. boosted its stake in Essex Property Trust by 3.6% in the third quarter. Principal Financial Group Inc. now owns 2,328,165 shares of the real estate investment trust’s stock worth $591,424,000 after buying an additional 80,573 shares in the last quarter. Finally, Resolution Capital Ltd boosted its stake in Essex Property Trust by 28.3% in the third quarter. Resolution Capital Ltd now owns 360,236 shares of the real estate investment trust’s stock worth $91,511,000 after buying an additional 79,479 shares in the last quarter. 96.57% of the stock is owned by institutional investors and hedge funds.
Essex Property Trust Inc (NYSE ESS) opened at $229.67 on Monday. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.83 and a current ratio of 0.83. The company has a market capitalization of $15,170.62, a P/E ratio of 34.90, a P/E/G ratio of 3.12 and a beta of 0.42. Essex Property Trust Inc has a twelve month low of $214.03 and a twelve month high of $270.04.
Essex Property Trust (NYSE:ESS) last announced its earnings results on Wednesday, February 7th. The real estate investment trust reported $3.01 EPS for the quarter, beating analysts’ consensus estimates of $3.00 by $0.01. The company had revenue of $345.06 million during the quarter, compared to the consensus estimate of $346.50 million. Essex Property Trust had a return on equity of 6.76% and a net margin of 31.75%. During the same quarter in the prior year, the company earned $2.85 earnings per share. research analysts expect that Essex Property Trust Inc will post 12.46 EPS for the current year.
Several analysts have weighed in on ESS shares. Raymond James Financial reiterated an “underperform” rating on shares of Essex Property Trust in a research report on Monday, January 8th. Barclays lowered their price objective on Essex Property Trust from $277.00 to $271.00 and set an “overweight” rating for the company in a research report on Tuesday, January 30th. BMO Capital Markets reiterated a “hold” rating and issued a $257.00 price objective on shares of Essex Property Trust in a research report on Monday, November 27th. Stifel Nicolaus downgraded Essex Property Trust from a “buy” rating to a “hold” rating and lowered their price objective for the company from $280.00 to $235.00 in a research report on Friday, January 19th. Finally, Mitsubishi UFJ Financial Group reiterated a “neutral” rating on shares of Essex Property Trust in a research report on Friday, November 3rd. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $264.94.
In related news, CFO Angela L. Kleiman sold 600 shares of the company’s stock in a transaction that occurred on Monday, December 11th. The stock was sold at an average price of $247.16, for a total transaction of $148,296.00. Following the completion of the transaction, the chief financial officer now owns 7,777 shares in the company, valued at $1,922,163.32. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Gary P. Martin sold 500 shares of the company’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $223.43, for a total value of $111,715.00. Following the transaction, the director now owns 5,736 shares of the company’s stock, valued at approximately $1,281,594.48. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 8,602 shares of company stock valued at $2,115,430. 3.30% of the stock is owned by corporate insiders.
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Essex Property Trust Company 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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