Gotham Asset Management LLC Sells 1,078 Shares of Essex Property Trust, Inc. (ESS)
Gotham Asset Management LLC reduced its stake in shares of Essex Property Trust, Inc. (NYSE:ESS) by 33.8% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,107 shares of the real estate investment trust’s stock after selling 1,078 shares during the period. Gotham Asset Management LLC’s holdings in Essex Property Trust were worth $542,000 as of its most recent SEC filing.
Other institutional investors also recently modified their holdings of the company. LMR Partners LLP boosted its holdings in shares of Essex Property Trust by 15.7% during the 2nd quarter. LMR Partners LLP now owns 3,263 shares of the real estate investment trust’s stock worth $840,000 after purchasing an additional 443 shares during the last quarter. BlueCrest Capital Management Ltd acquired a new position in shares of Essex Property Trust during the 1st quarter worth approximately $438,000. NN Investment Partners Holdings N.V. boosted its holdings in shares of Essex Property Trust by 4.0% during the 2nd quarter. NN Investment Partners Holdings N.V. now owns 240,093 shares of the real estate investment trust’s stock worth $61,769,000 after purchasing an additional 9,300 shares during 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 worth $578,237,000 after purchasing an additional 91,814 shares during the last quarter. Finally, Old Mutual Global Investors UK Ltd. acquired a new position in shares of Essex Property Trust during the 2nd quarter worth approximately $2,102,000. Institutional investors and hedge funds own 99.45% of the company’s stock.
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Essex Property Trust, Inc. (NYSE:ESS) opened at 259.94 on Friday. The firm has a market capitalization of $17.15 billion, a PE ratio of 33.42 and a beta of 0.53. The firm’s 50-day moving average price is $259.55 and its 200-day moving average price is $256.50. Essex Property Trust, Inc. has a 1-year low of $200.01 and a 1-year high of $270.04.
Essex Property Trust (NYSE:ESS) last released its earnings results on Thursday, July 27th. The real estate investment trust reported $2.97 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.92 by $0.05. The firm had revenue of $339.06 million during 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 period in the previous year, the company earned $2.74 EPS. On average, equities research analysts predict that Essex Property Trust, Inc. will post $5.89 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Monday, October 16th. Shareholders of record on Friday, September 29th were issued a $1.75 dividend. The ex-dividend date of this dividend was Thursday, September 28th. This represents a $7.00 dividend on an annualized basis and a dividend yield of 2.69%. Essex Property Trust’s dividend payout ratio (DPR) is presently 89.97%.
ESS has been the topic of several recent research reports. BidaskClub cut Essex Property Trust from a “strong-buy” rating to a “buy” rating in a report on Friday, June 30th. 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 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. Finally, Stifel Nicolaus initiated coverage on Essex Property Trust in a report on Friday, September 1st. They issued a “buy” rating and a $294.00 price objective on the stock. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Hold” and an average target price of $268.27.
In other Essex Property Trust news, Director Byron A. Scordelis sold 6,265 shares of Essex Property Trust stock in a transaction on Thursday, August 24th. The shares were sold at an average price of $267.39, for a total value of $1,675,198.35. Following the transaction, the director now owns 4,986 shares in the company, valued at approximately $1,333,206.54. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider John F. Burkart sold 333 shares of Essex Property Trust stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $261.84, for a total transaction of $87,192.72. Following the completion of the transaction, the insider now owns 4,818 shares in the company, valued at approximately $1,261,545.12. The disclosure for this sale can be found here. In the last quarter, insiders sold 11,397 shares of company stock worth $3,022,662. 3.30% of the stock is owned by company insiders.
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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