Natixis Takes Position in Essex Property Trust Inc (ESS)
Natixis bought a new position in Essex Property Trust Inc (NYSE:ESS) in the 2nd quarter, HoldingsChannel.com reports. The firm bought 1,084 shares of the real estate investment trust’s stock, valued at approximately $259,000.
A number of other hedge funds have also recently modified their holdings of ESS. Dimensional Fund Advisors LP lifted its holdings in shares of Essex Property Trust by 1.6% during 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 acquiring an additional 16,077 shares during the period. Schwab Charles Investment Management Inc. lifted its holdings in shares of Essex Property Trust by 6.0% during 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 acquiring an additional 39,916 shares during the period. SG Americas Securities LLC lifted its holdings in shares of Essex Property Trust by 4.9% during 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 acquiring an additional 1,763 shares during the period. Stevens Capital Management LP bought a new position in shares of Essex Property Trust during the second quarter valued at $11,291,000. Finally, Cbre Clarion Securities LLC lifted its holdings in shares of Essex Property Trust by 59.4% during the second quarter. Cbre Clarion Securities LLC now owns 1,377,419 shares of the real estate investment trust’s stock valued at $329,300,000 after acquiring an additional 513,352 shares during the period. 96.19% of the stock is owned by hedge funds and other institutional investors.
Shares of NYSE:ESS opened at $247.24 on Monday. Essex Property Trust Inc has a twelve month low of $214.03 and a twelve month high of $264.07. The firm has a market capitalization of $16.33 billion, a PE ratio of 20.23, a price-to-earnings-growth ratio of 3.22 and a beta of 0.30. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.85 and a quick ratio of 1.85.
The firm also recently announced a quarterly dividend, which will be paid on Friday, October 12th. Stockholders of record on Friday, September 28th will be paid a $1.86 dividend. The ex-dividend date of this dividend is Thursday, September 27th. This represents a $7.44 dividend on an annualized basis and a dividend yield of 3.01%. Essex Property Trust’s dividend payout ratio (DPR) is presently 62.47%.
ESS has been the subject of a number of analyst reports. Zacks Investment Research cut Essex Property Trust from a “buy” rating to a “hold” rating in a report on Monday, August 6th. Citigroup cut Essex Property Trust from a “buy” rating to a “neutral” rating and cut their price objective for the company from $280.00 to $260.00 in a report on Friday, September 14th. Stifel Nicolaus raised Essex Property Trust from a “hold” rating to a “buy” rating and lifted their price objective for the company from $235.00 to $260.00 in a report on Thursday, August 2nd. ValuEngine raised Essex Property Trust from a “sell” rating to a “hold” rating in a report on Wednesday, July 11th. Finally, Barclays cut their price objective on Essex Property Trust from $272.00 to $269.00 and set an “overweight” rating for the company in a report on Tuesday, July 17th. Eleven equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Essex Property Trust has an average rating of “Buy” and an average price target of $263.44.
In other news, insider Angela L. Kleiman sold 750 shares of the firm’s stock in a transaction on Thursday, August 16th. The stock was sold at an average price of $240.80, for a total value of $180,600.00. Following the completion of the sale, the insider now directly owns 9,149 shares in the company, valued at $2,203,079.20. The sale was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 3.40% of the company’s stock.
About Essex Property Trust
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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