Essex Property Trust Inc. (NYSE:ESS) announced a quarterly dividend on Wednesday, September 21st. Shareholders of record on Friday, September 30th will be paid a dividend of 1.60 per share by the real estate investment trust on Friday, October 14th. This represents a $6.40 annualized dividend and a yield of 2.77%. The ex-dividend date of this dividend is Wednesday, September 28th.

Shares of Essex Property Trust (NYSE:ESS) opened at 231.18 on Friday. Essex Property Trust has a 52 week low of $191.25 and a 52 week high of $244.71. The stock has a 50 day moving average of $226.79 and a 200-day moving average of $225.35. The stock has a market cap of $15.14 billion, a PE ratio of 55.59 and a beta of 0.85.

Essex Property Trust (NYSE:ESS) last released its earnings results on Friday, July 29th. The real estate investment trust reported $2.74 EPS for the quarter, topping analysts’ consensus estimates of $2.70 by $0.04. Essex Property Trust had a net margin of 22.25% and a return on equity of 4.38%. During the same quarter in the previous year, the business posted $2.40 EPS. Equities research analysts predict that Essex Property Trust will post $11.01 earnings per share for the current fiscal year.

Several analysts have commented on the stock. BTIG Research assumed coverage on shares of Essex Property Trust in a research report on Thursday, August 25th. They issued a “buy” rating and a $260.00 price objective on the stock. Jefferies Group boosted their price target on shares of Essex Property Trust from $209.00 to $210.00 and gave the company a “hold” rating in a research report on Wednesday, August 10th. Canaccord Genuity reissued a “hold” rating and issued a $239.00 price target (down previously from $246.00) on shares of Essex Property Trust in a research report on Monday, August 1st. Barclays PLC boosted their price target on shares of Essex Property Trust from $242.00 to $243.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 19th. Finally, Evercore Partners Inc. reissued a “hold” rating on shares of Essex Property Trust in a research report on Friday, July 15th. Fourteen equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $245.97.

In other Essex Property Trust news, insider John D. Eudy sold 2,500 shares of the firm’s stock in a transaction that occurred on Thursday, September 1st. The shares were sold at an average price of $226.41, for a total transaction of $566,025.00. Following the sale, the insider now owns 9,268 shares in the company, valued at approximately $2,098,367.88. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Keith R. Guericke sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 9th. The stock was sold at an average price of $233.49, for a total transaction of $1,167,450.00. Following the sale, the director now owns 63,750 shares in the company, valued at approximately $14,884,987.50. The disclosure for this sale can be found here. Company insiders own 3.50% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in ESS. State Street Corp boosted its stake in Essex Property Trust by 3.9% in the second quarter. State Street Corp now owns 4,471,369 shares of the real estate investment trust’s stock worth $1,019,881,000 after buying an additional 168,531 shares during the last quarter. FMR LLC boosted its stake in Essex Property Trust by 3.4% in the second quarter. FMR LLC now owns 3,418,761 shares of the real estate investment trust’s stock worth $779,785,000 after buying an additional 113,693 shares during the last quarter. BlackRock Group LTD boosted its stake in Essex Property Trust by 2.4% in the second quarter. BlackRock Group LTD now owns 913,137 shares of the real estate investment trust’s stock worth $208,276,000 after buying an additional 21,017 shares during the last quarter. Credit Suisse AG boosted its stake in Essex Property Trust by 5.3% in the second quarter. Credit Suisse AG now owns 265,042 shares of the real estate investment trust’s stock worth $60,454,000 after buying an additional 13,368 shares during the last quarter. Finally, Security Capital Research & Management Inc. boosted its stake in Essex Property Trust by 105.6% in the second quarter. Security Capital Research & Management Inc. now owns 260,666 shares of the real estate investment trust’s stock worth $59,455,000 after buying an additional 133,870 shares during the last quarter. Institutional investors own 98.99% of the company’s stock.

About Essex Property Trust

Essex Property Trust, Inc is a self-administered and self-managed real estate investment trust (REIT). The Company owns all of its interest in its real estate and other investments directly or indirectly through Essex Portfolio, L.P. (the Operating Partnership). The Company is engaged in the ownership, operation, management, acquisition, development and redevelopment of apartment communities.

5 Day Chart for NYSE:ESS

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