Bridgewater Associates LP raised its stake in Essex Property Trust Inc (NYSE:ESS) by 11.6% during the second quarter, HoldingsChannel reports. The institutional investor owned 3,568 shares of the real estate investment trust’s stock after buying an additional 370 shares during the period. Bridgewater Associates LP’s holdings in Essex Property Trust were worth $853,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Schwab Charles Investment Management Inc. boosted its position in Essex Property Trust by 6.0% in the second quarter. Schwab Charles Investment Management Inc. now owns 701,545 shares of the real estate investment trust’s stock valued at $167,719,000 after buying an additional 39,916 shares in the last quarter. SG Americas Securities LLC boosted its position in Essex Property Trust by 4.9% in the second quarter. SG Americas Securities LLC now owns 37,470 shares of the real estate investment trust’s stock valued at $8,958,000 after buying an additional 1,763 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in Essex Property Trust by 1.6% in the second quarter. Dimensional Fund Advisors LP now owns 1,005,382 shares of the real estate investment trust’s stock valued at $240,351,000 after buying an additional 16,077 shares in the last quarter. Stevens Capital Management LP acquired a new stake in Essex Property Trust in the second quarter valued at approximately $11,291,000. Finally, Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its position in Essex Property Trust by 10.9% in the second quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 20,098 shares of the real estate investment trust’s stock valued at $4,805,000 after buying an additional 1,972 shares in the last quarter. Hedge funds and other institutional investors own 96.48% of the company’s stock.

In related news, insider Angela L. Kleiman sold 750 shares of Essex Property Trust stock in a transaction on Thursday, August 16th. The shares were sold at an average price of $240.80, for a total transaction of $180,600.00. Following the completion of the transaction, the insider now owns 9,149 shares of the company’s stock, valued at $2,203,079.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 3.30% of the stock is owned by company insiders.

ESS has been the topic of a number of research analyst reports. Zacks Investment Research lowered shares of Essex Property Trust from a “buy” rating to a “hold” rating in a research report on Monday, August 6th. Stifel Nicolaus upgraded shares of Essex Property Trust from a “hold” rating to a “buy” rating and raised their target price for the company from $235.00 to $260.00 in a research report on Thursday, August 2nd. ValuEngine upgraded shares of Essex Property Trust from a “sell” rating to a “hold” rating in a research report on Wednesday, July 11th. Barclays dropped their price target on shares of Essex Property Trust from $272.00 to $269.00 and set an “overweight” rating for the company in a research note on Tuesday, July 17th. Finally, Royal Bank of Canada reaffirmed a “buy” rating and set a $269.00 price target on shares of Essex Property Trust in a research note on Thursday, August 30th. Ten research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $264.44.

ESS stock opened at $246.14 on Friday. The firm has a market cap of $16.27 billion, a PE ratio of 20.67, a price-to-earnings-growth ratio of 3.21 and a beta of 0.30. Essex Property Trust Inc has a 52-week low of $214.03 and a 52-week high of $270.04. The company has a quick ratio of 1.85, a current ratio of 1.85 and a debt-to-equity ratio of 0.88.

Essex Property Trust (NYSE:ESS) last released its quarterly earnings results on Wednesday, August 1st. The real estate investment trust reported $3.14 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $3.10 by $0.04. The firm had revenue of $348.72 million during the quarter, compared to the consensus estimate of $348.58 million. Essex Property Trust had a net margin of 27.05% and a return on equity of 5.52%. During the same quarter last year, the firm earned $2.97 earnings per share. research analysts predict that Essex Property Trust Inc will post 12.56 EPS for the current year.

Essex Property Trust Profile

Essex Property Trust, Inc, an S&P 500 company, is a fully integrated real estate investment trust (REIT) that acquires, develops, redevelops, and manages multifamily residential properties in selected West Coast markets. The Company currently has ownership interests in 247 apartment communities comprising approximately 60,000 apartment homes, excluding six properties in various stages of active development, one commercial building, preferred equity co-investments, and loan investments.

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

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