Dupont Capital Management Corp increased its position in shares of Essex Property Trust, Inc. (NYSE:ESS) by 43.6% during the second quarter, Holdings Channel reports. The institutional investor owned 21,230 shares of the real estate investment trust’s stock after buying an additional 6,446 shares during the period. Dupont Capital Management Corp’s holdings in Essex Property Trust were worth $5,462,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. 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 worth $128,000 after buying an additional 392 shares in the last quarter. Advisors Asset Management Inc. raised its position in 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 during the period. FNY Partners Fund LP acquired a new position in Essex Property Trust during the first quarter valued at about $165,000. Perigon Wealth Management LLC raised its position in 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 during the period. Finally, Warren Averett Asset Management LLC acquired a new position in Essex Property Trust during the first quarter valued at about $201,000. 99.74% of the stock is owned by institutional investors and hedge funds.

Shares of Essex Property Trust, Inc. (NYSE ESS) opened at 265.08 on Wednesday. The stock has a 50 day moving average of $260.44 and a 200-day moving average of $246.50. Essex Property Trust, Inc. has a 1-year low of $200.01 and a 1-year high of $268.97. The company has a market capitalization of $17.49 billion, a price-to-earnings ratio of 34.09 and a beta of 0.52.

Essex Property Trust (NYSE:ESS) last released its quarterly earnings results on Thursday, July 27th. The real estate investment trust reported $2.97 earnings per share for the quarter, beating the consensus estimate of $2.92 by $0.05. The business had revenue of $339.06 million for the quarter, compared to analysts’ expectations of $336.17 million. Essex Property Trust had a net margin of 38.33% and a return on equity of 8.03%. During the same quarter in the previous year, the business posted $2.74 earnings per share. Analysts forecast that Essex Property Trust, Inc. will post $5.95 earnings per share for the current year.

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Several analysts have weighed in on ESS shares. Canaccord Genuity set a $270.00 price objective on shares of Essex Property Trust and gave the stock a “hold” rating in a research note on Monday, July 31st. Zacks Investment Research cut shares of Essex Property Trust from a “hold” rating to a “sell” rating in a research note on Tuesday, April 18th. Royal Bank Of Canada reissued an “outperform” rating and set a $267.00 price target (up from $248.00) on shares of Essex Property Trust in a research note on Tuesday, May 16th. Mizuho raised shares of Essex Property Trust from a “neutral” rating to a “buy” rating and raised their price objective for the company from $199.00 to $212.00 in a research note on Monday, May 1st. Finally, Cantor Fitzgerald reaffirmed a “buy” rating and issued a $278.00 price objective on shares of Essex Property Trust in a research note on Thursday, July 27th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $264.15.

In other news, CEO Michael J. Schall sold 333 shares of Essex Property Trust stock in a transaction dated Thursday, August 10th. The stock was sold at an average price of $263.97, for a total value of $87,902.01. Following the completion of the transaction, the chief executive officer now owns 45,096 shares of the company’s stock, valued at approximately $11,903,991.12. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Irving F. Lyons III sold 1,024 shares of Essex Property Trust stock in a transaction dated Thursday, May 18th. The stock was sold at an average price of $254.22, for a total value of $260,321.28. Following the completion of the transaction, the director now directly owns 8,854 shares of the company’s stock, valued at approximately $2,250,863.88. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 6,690 shares of company stock worth $1,717,142. 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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