Ossiam raised its holdings in Essex Property Trust Inc (NYSE:ESS) by 96.5% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,388 shares of the real estate investment trust’s stock after purchasing an additional 1,173 shares during the quarter. Ossiam’s holdings in Essex Property Trust were worth $697,000 as of its most recent filing with the SEC.
Several other large investors have also made changes to their positions in ESS. Krane Funds Advisors LLC acquired a new position in Essex Property Trust in the 2nd quarter valued at about $25,000. Front Row Advisors LLC grew its stake in shares of Essex Property Trust by 1,055.6% in the 1st quarter. Front Row Advisors LLC now owns 104 shares of the real estate investment trust’s stock valued at $30,000 after purchasing an additional 95 shares during the last quarter. Zions Bancorporation N.A. purchased a new position in shares of Essex Property Trust in the 1st quarter valued at approximately $33,000. Flagship Harbor Advisors LLC increased its holdings in shares of Essex Property Trust by 243.9% in the second quarter. Flagship Harbor Advisors LLC now owns 141 shares of the real estate investment trust’s stock valued at $41,000 after purchasing an additional 100 shares during the period. Finally, Valeo Financial Advisors LLC acquired a new position in shares of Essex Property Trust in the second quarter valued at approximately $65,000. 96.80% of the stock is owned by institutional investors and hedge funds.
Several equities research analysts recently weighed in on the company. Barclays increased their price target on Essex Property Trust from $310.00 to $328.00 and gave the stock an “overweight” rating in a report on Tuesday, July 16th. Stifel Nicolaus boosted their price objective on shares of Essex Property Trust from $300.00 to $325.00 and gave the company a “buy” rating in a research note on Friday, July 26th. BTIG Research raised shares of Essex Property Trust from a “neutral” rating to a “buy” rating and set a $335.00 price objective on the stock in a research note on Thursday, August 15th. Citigroup upped their price objective on shares of Essex Property Trust from $280.00 to $300.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 30th. Finally, KeyCorp raised their target price on shares of Essex Property Trust from $311.00 to $320.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 31st. Eight analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Essex Property Trust currently has a consensus rating of “Buy” and a consensus price target of $300.84.
Essex Property Trust (NYSE:ESS) last released its earnings results on Wednesday, July 24th. The real estate investment trust reported $1.40 EPS for the quarter, missing analysts’ consensus estimates of $3.26 by ($1.86). Essex Property Trust had a net margin of 28.83% and a return on equity of 6.43%. The business had revenue of $361.64 million during the quarter, compared to analyst estimates of $358.15 million. During the same period last year, the business posted $3.14 EPS. As a group, analysts predict that Essex Property Trust Inc will post 13.32 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be paid a $1.95 dividend. This represents a $7.80 annualized dividend and a dividend yield of 2.43%. The ex-dividend date is Friday, September 27th. Essex Property Trust’s dividend payout ratio (DPR) is 62.05%.
In other news, Director Byron A. Scordelis sold 5,109 shares of Essex Property Trust stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $322.00, for a total transaction of $1,645,098.00. Following the completion of the sale, the director now directly owns 4,595 shares in the company, valued at approximately $1,479,590. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Michael J. Schall sold 35,250 shares of Essex Property Trust stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $319.22, for a total transaction of $11,252,505.00. Following the sale, the insider now owns 75,101 shares of the company’s stock, valued at $23,973,741.22. The disclosure for this sale can be found here. In the last three months, insiders have sold 79,051 shares of company stock worth $25,094,007. 3.60% of the stock is owned by insiders.
About Essex Property Trust
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. Essex currently has ownership interests in 245 apartment communities with an additional 6 properties in various stages of active development.
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