Fmr LLC lowered its holdings in shares of Essex Property Trust, Inc. (NYSE:ESS) by 9.8% in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 3,212,144 shares of the real estate investment trust’s stock after selling 347,582 shares during the period. Fmr LLC owned about 4.87% of Essex Property Trust worth $826,388,000 as of its most recent filing with the SEC.

Several other institutional investors have also bought and sold shares of the company. IFP Advisors Inc raised its holdings in shares of Essex Property Trust by 0.3% during the 2nd 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 in the last quarter. BTR Capital Management Inc. raised its holdings in shares of Essex Property Trust by 0.7% during the 2nd 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 in the last quarter. Bbva Compass Bancshares Inc. raised its holdings in shares of Essex Property Trust by 1.4% during the 2nd 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 in the last quarter. CIBC Asset Management Inc raised its holdings in shares of Essex Property Trust by 0.3% during the 2nd 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 in the last quarter. Finally, Tiemann Investment Advisors LLC raised its holdings in shares of Essex Property Trust by 0.6% during the 1st 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 in the last quarter. 99.43% of the stock is owned by institutional investors.

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Shares of Essex Property Trust, Inc. (NYSE ESS) opened at 255.00 on Friday. Essex Property Trust, Inc. has a 52 week low of $200.01 and a 52 week high of $270.04. The firm has a market cap of $16.83 billion, a PE ratio of 32.79 and a beta of 0.53. The stock has a 50 day moving average price of $263.80 and a 200 day moving average price of $252.81.

Essex Property Trust (NYSE:ESS) last issued its quarterly earnings results on Thursday, July 27th. The real estate investment trust reported $2.97 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.92 by $0.05. Essex Property Trust had a return on equity of 8.03% and a net margin of 38.33%. The firm had revenue of $339.06 million during the quarter, compared to analyst estimates of $336.17 million. During the same quarter in the previous year, the company posted $2.74 earnings per share. Equities analysts expect that Essex Property Trust, Inc. will post $5.89 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Monday, October 16th. Shareholders of record on Friday, September 29th will be paid a dividend of $1.75 per share. This represents a $7.00 annualized dividend and a yield of 2.75%. The ex-dividend date of this dividend is Thursday, September 28th. Essex Property Trust’s dividend payout ratio (DPR) is currently 89.97%.

In other Essex Property Trust news, insider Michael J. Schall sold 333 shares of Essex Property Trust stock in a transaction dated Monday, July 10th. The stock was sold at an average price of $256.06, for a total transaction of $85,267.98. Following the completion of the sale, the insider now owns 45,096 shares of the company’s stock, valued at $11,547,281.76. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Angela L. Kleiman sold 2,466 shares of Essex Property Trust stock in a transaction dated Thursday, August 17th. The stock was sold at an average price of $263.37, for a total value of $649,470.42. Following the sale, the insider now directly owns 9,643 shares of the company’s stock, valued at approximately $2,539,676.91. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 11,314 shares of company stock valued at $2,999,949. Corporate insiders own 3.30% of the company’s stock.

A number of research firms have recently commented on ESS. Jefferies Group LLC reissued a “hold” rating and set a $234.00 price target on shares of Essex Property Trust in a report on Tuesday, May 30th. Royal Bank Of Canada reissued a “buy” rating and set a $267.00 price target on shares of Essex Property Trust in a report on Sunday, July 16th. Zacks Investment Research raised Essex Property Trust from a “hold” rating to a “buy” rating and set a $283.00 price target for the company in a report on Tuesday, July 11th. Mizuho cut Essex Property Trust from a “buy” rating to a “neutral” rating and set a $283.00 price target for the company. in a report on Monday, July 31st. Finally, Cantor Fitzgerald reissued a “buy” rating and set a $280.00 price target on shares of Essex Property Trust in a report on Wednesday, September 13th. Two analysts have rated the stock with a sell rating, nine have given a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. Essex Property Trust presently has a consensus rating of “Hold” and a consensus target price of $268.07.

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.

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

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