Boston Partners increased its stake in Essex Property Trust, Inc. (NYSE:ESS) by 4.2% during the second quarter, Holdings Channel reports. The institutional investor owned 362,126 shares of the real estate investment trust’s stock after buying an additional 14,589 shares during the period. Boston Partners’ holdings in Essex Property Trust were worth $93,164,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of ESS. Muzinich & Co. Inc. raised its position in shares of Essex Property Trust by 246.5% in the first quarter. Muzinich & Co. Inc. now owns 551 shares of the real estate investment trust’s stock valued at $128,000 after buying an additional 392 shares in the last quarter. Advisors Asset Management Inc. raised its position in shares of Essex Property Trust by 118.0% in the first quarter. Advisors Asset Management Inc. now owns 654 shares of the real estate investment trust’s stock valued at $151,000 after buying an additional 354 shares in the last quarter. FNY Partners Fund LP bought a new position in shares of Essex Property Trust during the first quarter valued at approximately $165,000. Perigon Wealth Management LLC raised its position in shares of Essex Property Trust by 835.2% in the first quarter. Perigon Wealth Management LLC now owns 823 shares of the real estate investment trust’s stock valued at $192,000 after buying an additional 735 shares in the last quarter. Finally, Warren Averett Asset Management LLC bought a new position in shares of Essex Property Trust during the first quarter valued at approximately $201,000. Hedge funds and other institutional investors own 98.88% of the company’s stock.

Shares of Essex Property Trust, Inc. (ESS) opened at 259.14 on Friday. The stock has a 50 day moving average of $260.52 and a 200-day moving average of $245.65. The firm has a market capitalization of $17.10 billion, a price-to-earnings ratio of 33.32 and a beta of 0.52. Essex Property Trust, Inc. has a one year low of $200.01 and a one year high of $268.97.

Essex Property Trust (NYSE:ESS) last posted its 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 38.33% and a return on equity of 8.03%. The business had revenue of $339.06 million for the quarter, compared to analysts’ expectations of $336.17 million. During the same period in the previous year, the company posted $2.74 earnings per share. On average, equities analysts anticipate that Essex Property Trust, Inc. will post $5.95 earnings per share for the current fiscal year.

The company also recently announced 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 dividend on an annualized basis and a dividend yield of 2.70%. Essex Property Trust’s payout ratio is currently 89.97%.

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Several equities analysts have recently commented on ESS shares. Cantor Fitzgerald restated a “buy” rating and issued a $269.00 price objective on shares of Essex Property Trust in a report on Wednesday, May 3rd. Mizuho upgraded shares of Essex Property Trust from a “neutral” rating to a “buy” rating and increased their target price for the stock from $199.00 to $212.00 in a report on Monday, May 1st. BidaskClub lowered shares of Essex Property Trust from a “strong-buy” rating to a “buy” rating in a report on Friday, June 30th. Zacks Investment Research upgraded shares of Essex Property Trust from a “hold” rating to a “buy” rating and set a $283.00 target price on the stock in a report on Tuesday, July 11th. Finally, Royal Bank Of Canada reiterated a “buy” rating and set a $267.00 target price on shares of Essex Property Trust in a report on Sunday, July 16th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $263.46.

In other news, CEO Michael J. Schall sold 333 shares of the business’s stock in a transaction on Thursday, August 10th. The shares were sold at an average price of $263.97, for a total transaction of $87,902.01. Following the transaction, the chief executive officer now directly owns 45,096 shares of the company’s stock, valued at $11,903,991.12. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider John D. Eudy sold 167 shares of the business’s stock in a transaction on Thursday, August 10th. The stock was sold at an average price of $263.97, for a total transaction of $44,082.99. Following the transaction, the insider now directly owns 8,597 shares in the company, valued at $2,269,350.09. The disclosure for this sale can be found here. Over the last three months, insiders have sold 6,690 shares of company stock worth $1,717,142. 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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