Duff & Phelps Investment Management Co. lowered its stake in Essex Property Trust Inc (NYSE:ESS) by 7.8% during the second quarter, Holdings Channel reports. The fund owned 233,535 shares of the real estate investment trust’s stock after selling 19,775 shares during the period. Duff & Phelps Investment Management Co.’s holdings in Essex Property Trust were worth $60,082,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Glen Harbor Capital Management LLC increased its stake in Essex Property Trust by 19.4% in the first quarter. Glen Harbor Capital Management LLC now owns 3,276 shares of the real estate investment trust’s stock valued at $759,000 after buying an additional 532 shares during the last quarter. ProShare Advisors LLC increased its stake in shares of Essex Property Trust by 202.1% in the first quarter. ProShare Advisors LLC now owns 69,038 shares of the real estate investment trust’s stock worth $5,341,000 after buying an additional 46,188 shares during the last quarter. Korea Investment CORP increased its stake in shares of Essex Property Trust by 41,654.5% in the first quarter. Korea Investment CORP now owns 32,151 shares of the real estate investment trust’s stock worth $7,444,000 after buying an additional 32,074 shares during the last quarter. Mn Services Vermogensbeheer B.V. increased its stake in shares of Essex Property Trust by 3.1% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 1,747 shares of the real estate investment trust’s stock worth $378,000 after buying an additional 52 shares during the last quarter. Finally, Nationwide Fund Advisors increased its stake in shares of Essex Property Trust by 12.1% in the first quarter. Nationwide Fund Advisors now owns 82,860 shares of the real estate investment trust’s stock worth $19,185,000 after buying an additional 8,956 shares during the last quarter. 98.88% of the stock is owned by institutional investors.

Essex Property Trust Inc (NYSE ESS) opened at 262.53 on Friday. The firm has a 50-day moving average of $260.66 and a 200-day moving average of $245.45. The stock has a market capitalization of $17.32 billion, a PE ratio of 33.76 and a beta of 0.52. Essex Property Trust Inc has a 1-year low of $200.01 and a 1-year high of $268.97.

Essex Property Trust (NYSE:ESS) last announced its quarterly earnings results on Thursday, July 27th. The real estate investment trust reported $2.97 EPS for the quarter, topping analysts’ consensus estimates of $2.92 by $0.05. Essex Property Trust had a net margin of 22.35% and a return on equity of 4.51%. The firm had revenue of $339.06 million during the quarter, compared to analyst estimates of $336.17 million. During the same period in the previous year, the business posted $2.74 earnings per share. Equities analysts expect that Essex Property Trust Inc will post $5.95 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Friday, July 14th. Stockholders of record on Friday, June 30th were paid a $1.75 dividend. The ex-dividend date of this dividend was Wednesday, June 28th. This represents a $7.00 dividend on an annualized basis and a dividend yield of 2.67%. Essex Property Trust’s dividend payout ratio is presently 89.97%.

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A number of equities research analysts have issued reports on the stock. Raymond James Financial, Inc. downgraded shares of Essex Property Trust from an “outperform” rating to a “hold” rating and set a $270.00 price objective for the company. in a research report on Wednesday. Mizuho downgraded shares of Essex Property Trust from a “buy” rating to a “neutral” rating and set a $283.00 price objective for the company. in a research report on Monday, July 31st. Canaccord Genuity set a $270.00 price objective on shares of Essex Property Trust and gave the stock a “hold” rating in a research report on Monday, July 31st. BMO Capital Markets set a $255.00 price objective on shares of Essex Property Trust and gave the stock a “hold” rating in a research report on Thursday, May 25th. Finally, Cantor Fitzgerald reaffirmed a “buy” rating and issued a $269.00 price objective on shares of Essex Property Trust in a research report on Wednesday, May 3rd. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and six have given a buy rating to the company. Essex Property Trust has an average rating of “Hold” and a consensus target price of $263.46.

In other news, insider John F. Burkart sold 333 shares of Essex Property Trust stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $261.84, for a total value of $87,192.72. Following the completion of the sale, the insider now directly owns 4,818 shares in the company, valued at $1,261,545.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Gary P. Martin sold 1,000 shares of Essex Property Trust stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $261.94, for a total transaction of $261,940.00. Following the completion of the sale, the director now owns 6,236 shares of the company’s stock, valued at $1,633,457.84. The disclosure for this sale can be found here. Insiders sold 6,106 shares of company stock valued at $1,562,983 over the last quarter. Company insiders own 3.30% of the company’s stock.

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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Institutional Ownership by Quarter for Essex Property Trust (NYSE:ESS)

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