Amundi Pioneer Asset Management Inc. lessened its holdings in Essex Property Trust Inc (NYSE:ESS) by 11.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 92,663 shares of the real estate investment trust’s stock after selling 12,142 shares during the period. Amundi Pioneer Asset Management Inc.’s holdings in Essex Property Trust were worth $26,802,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the company. Advisors Asset Management Inc. lifted its position in Essex Property Trust by 8.6% during the fourth quarter. Advisors Asset Management Inc. now owns 9,791 shares of the real estate investment trust’s stock worth $2,401,000 after buying an additional 774 shares during the period. Creative Planning lifted its position in Essex Property Trust by 11.5% during the fourth quarter. Creative Planning now owns 3,799 shares of the real estate investment trust’s stock worth $932,000 after buying an additional 391 shares during the period. TD Asset Management Inc. lifted its position in Essex Property Trust by 4.4% during the fourth quarter. TD Asset Management Inc. now owns 20,546 shares of the real estate investment trust’s stock worth $5,038,000 after buying an additional 857 shares during the period. M&T Bank Corp lifted its position in Essex Property Trust by 13.7% during the fourth quarter. M&T Bank Corp now owns 6,507 shares of the real estate investment trust’s stock worth $1,596,000 after buying an additional 786 shares during the period. Finally, Comerica Securities Inc. purchased a new position in Essex Property Trust during the fourth quarter worth about $207,000. 97.70% of the stock is owned by institutional investors and hedge funds.

Several research firms recently weighed in on ESS. KeyCorp increased their target price on Essex Property Trust from $268.00 to $301.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 19th. Zacks Investment Research downgraded Essex Property Trust from a “buy” rating to a “hold” rating in a research report on Thursday, May 16th. BTIG Research downgraded Essex Property Trust from a “buy” rating to a “neutral” rating in a research report on Monday, March 25th. Barclays reiterated a “buy” rating and set a $310.00 target price on shares of Essex Property Trust in a research report on Tuesday, April 16th. Finally, BMO Capital Markets reiterated a “hold” rating and set a $295.00 target price on shares of Essex Property Trust in a research report on Monday, March 25th. Ten analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Essex Property Trust presently has a consensus rating of “Buy” and an average price target of $282.54.

In related news, insider John D. Eudy sold 3,000 shares of the stock in a transaction dated Tuesday, March 26th. The stock was sold at an average price of $291.56, for a total value of $874,680.00. Following the completion of the transaction, the insider now owns 10,642 shares of the company’s stock, valued at $3,102,781.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Michael J. Schall sold 2,682 shares of the stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $290.10, for a total value of $778,048.20. Following the completion of the transaction, the insider now directly owns 43,533 shares of the company’s stock, valued at approximately $12,628,923.30. The disclosure for this sale can be found here. In the last quarter, insiders sold 8,520 shares of company stock valued at $2,473,676. Insiders own 3.60% of the company’s stock.

Shares of NYSE:ESS opened at $298.83 on Thursday. The stock has a market cap of $19.49 billion, a price-to-earnings ratio of 23.77, a PEG ratio of 3.99 and a beta of 0.39. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.91. Essex Property Trust Inc has a 12 month low of $227.05 and a 12 month high of $300.95.

Essex Property Trust (NYSE:ESS) last announced its quarterly earnings results on Wednesday, April 24th. The real estate investment trust reported $3.23 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $3.19 by $0.04. Essex Property Trust had a return on equity of 6.50% and a net margin of 29.67%. The company had revenue of $356.22 million during the quarter, compared to analyst estimates of $353.55 million. During the same period in the prior year, the firm posted $3.09 earnings per share. Research analysts predict that Essex Property Trust Inc will post 13.12 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, July 12th. Stockholders of record on Friday, June 28th will be paid a $1.95 dividend. The ex-dividend date is Thursday, June 27th. This represents a $7.80 dividend on an annualized basis and a dividend yield of 2.61%. Essex Property Trust’s dividend payout ratio (DPR) is currently 62.05%.

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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. Essex currently has ownership interests in 245 apartment communities with an additional 6 properties in various stages of active development.

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

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