United Fire Group Inc. continued to hold its position in Essex Property Trust Inc (NYSE:ESS) during the second quarter, Holdings Channel reports. The fund owned 5,347 shares of the real estate investment trust’s stock at the end of the second quarter. United Fire Group Inc.’s holdings in Essex Property Trust were worth $1,376,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ESS. IFP Advisors Inc raised its position in Essex Property Trust by 0.3% in the second quarter. IFP Advisors Inc now owns 1,575 shares of the real estate investment trust’s stock worth $405,000 after buying an additional 4 shares during the period. BTR Capital Management Inc. raised its position in Essex Property Trust by 0.7% in the second quarter. BTR Capital Management Inc. now owns 1,587 shares of the real estate investment trust’s stock worth $408,000 after buying an additional 11 shares during the period. Bbva Compass Bancshares Inc. raised its position in Essex Property Trust by 1.4% in the second quarter. Bbva Compass Bancshares Inc. now owns 1,140 shares of the real estate investment trust’s stock worth $293,000 after buying an additional 16 shares during the period. CIBC Asset Management Inc raised its position in Essex Property Trust by 0.3% in the second quarter. CIBC Asset Management Inc now owns 7,065 shares of the real estate investment trust’s stock worth $1,818,000 after buying an additional 24 shares during the period. Finally, Tiemann Investment Advisors LLC raised its position in Essex Property Trust by 0.6% in the first quarter. Tiemann Investment Advisors LLC now owns 4,050 shares of the real estate investment trust’s stock worth $938,000 after buying an additional 25 shares during the period. Hedge funds and other institutional investors own 98.88% of the company’s stock.

Shares of Essex Property Trust Inc (NYSE:ESS) opened at 262.53 on Friday. Essex Property Trust Inc has a one year low of $200.01 and a one year high of $268.97. The stock has a market capitalization of $17.32 billion, a P/E ratio of 33.76 and a beta of 0.52. The firm’s 50-day moving average price is $260.66 and its 200-day moving average price is $245.45.

Essex Property Trust (NYSE:ESS) last issued its quarterly earnings results on Thursday, July 27th. The real estate investment trust reported $2.97 EPS for the quarter, topping the consensus estimate 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 business had revenue of $339.06 million for the quarter, compared to analysts’ expectations of $336.17 million. During the same quarter last year, the company posted $2.74 earnings per share. Equities research analysts anticipate 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 given a dividend of $1.75 per share. The ex-dividend date of this dividend was Wednesday, June 28th. This represents a $7.00 annualized dividend and a dividend yield of 2.67%. Essex Property Trust’s payout ratio is 89.97%.

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A number of research firms recently issued reports on ESS. Mizuho upgraded Essex Property Trust from a “neutral” rating to a “buy” rating and lifted their target price for the company from $199.00 to $212.00 in a report on Monday, May 1st. Zacks Investment Research lowered Essex Property Trust from a “hold” rating to a “sell” rating in a report on Tuesday, April 18th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $267.00 target price (up from $248.00) on shares of Essex Property Trust in a report on Tuesday, May 16th. SunTrust Banks, Inc. lowered Essex Property Trust from a “buy” rating to a “hold” rating and set a $257.00 target price for the company. in a report on Thursday, May 18th. They noted that the move was a valuation call. Finally, Canaccord Genuity set a $270.00 target price on Essex Property Trust and gave the company a “hold” rating in a report on Monday, July 31st. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $263.46.

In other news, insider John F. Burkart sold 167 shares of the stock in a transaction dated Friday, May 19th. The shares were sold at an average price of $254.75, for a total transaction of $42,543.25. Following the transaction, the insider now owns 4,652 shares of the company’s stock, valued at $1,185,097. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Irving F. Lyons III sold 1,024 shares of the stock in a transaction dated Thursday, May 18th. The stock was sold at an average price of $254.22, for a total transaction of $260,321.28. Following the transaction, the director now directly owns 8,854 shares in the company, valued at approximately $2,250,863.88. The disclosure for this sale can be found here. Insiders have sold 6,106 shares of company stock worth $1,562,983 in the last ninety days. Corporate 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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