Canada Pension Plan Investment Board boosted its stake in Essex Property Trust, Inc. (NYSE:ESS) by 7,265.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 184,505 shares of the real estate investment trust’s stock after acquiring an additional 182,000 shares during the period. Canada Pension Plan Investment Board owned 0.28% of Essex Property Trust worth $46,870,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its holdings in Essex Property Trust by 0.8% in the second quarter. Vanguard Group Inc. now owns 11,496,906 shares of the real estate investment trust’s stock valued at $2,957,809,000 after acquiring an additional 92,531 shares in the last quarter. BlackRock Inc. boosted its holdings in shares of Essex Property Trust by 1.5% during the 2nd quarter. BlackRock Inc. now owns 6,573,361 shares of the real estate investment trust’s stock valued at $1,691,128,000 after buying an additional 94,331 shares in the last quarter. State Street Corp boosted its holdings in shares of Essex Property Trust by 0.7% during the 2nd quarter. State Street Corp now owns 4,744,926 shares of the real estate investment trust’s stock valued at $1,220,731,000 after buying an additional 30,726 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in shares of Essex Property Trust by 4.3% during the 2nd quarter. Principal Financial Group Inc. now owns 2,247,592 shares of the real estate investment trust’s stock valued at $578,237,000 after buying an additional 91,814 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in shares of Essex Property Trust by 38.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,488,052 shares of the real estate investment trust’s stock valued at $382,832,000 after buying an additional 412,316 shares in the last quarter. Institutional investors and hedge funds own 99.63% of the company’s stock.

ESS has been the topic of a number of research reports. Royal Bank Of Canada restated a “buy” rating and set a $267.00 target price on shares of Essex Property Trust in a report on Sunday, July 16th. 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. Cantor Fitzgerald restated a “buy” rating and set a $278.00 target price on shares of Essex Property Trust in a report on Thursday, July 27th. Stifel Nicolaus initiated coverage on shares of Essex Property Trust in a report on Friday, September 1st. They set a “buy” rating and a $294.00 target price on the stock. Finally, Robert W. Baird restated a “buy” rating and set a $273.00 target price on shares of Essex Property Trust in a report on Tuesday, September 12th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $269.13.

Essex Property Trust, Inc. (NYSE:ESS) opened at $253.98 on Friday. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.83 and a quick ratio of 1.83. The stock has a market capitalization of $16.75 billion, a price-to-earnings ratio of 21.70, a PEG ratio of 3.59 and a beta of 0.54.

The firm also recently announced a quarterly dividend, which was paid on Monday, October 16th. Shareholders of record on Friday, September 29th were given a $1.75 dividend. This represents a $7.00 dividend on an annualized basis and a yield of 2.76%. The ex-dividend date was Thursday, September 28th. Essex Property Trust’s dividend payout ratio (DPR) is 87.61%.

In other Essex Property Trust news, insider John D. Eudy sold 166 shares of the business’s stock in a transaction dated Tuesday, October 10th. The stock was sold at an average price of $257.92, for a total value of $42,814.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider John D. Eudy sold 167 shares of the business’s stock in a transaction dated Thursday, August 10th. The stock was sold at an average price of $263.97, for a total value of $44,082.99. Following the completion of the transaction, the insider now directly owns 8,597 shares of the company’s stock, valued at approximately $2,269,350.09. The disclosure for this sale can be found here. In the last three months, insiders sold 10,064 shares of company stock valued at $2,673,529. 3.30% of the stock is owned by insiders.

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About Essex Property Trust

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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