Royal London Asset Management Ltd. acquired a new stake in shares of Essex Property Trust Inc (NYSE:ESS) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 26,775 shares of the real estate investment trust’s stock, valued at approximately $6,402,000.

Other institutional investors also recently bought and sold shares of the company. Bbva Compass Bancshares Inc. grew its holdings in shares of Essex Property Trust by 20.7% during the 2nd quarter. Bbva Compass Bancshares Inc. now owns 1,354 shares of the real estate investment trust’s stock valued at $324,000 after purchasing an additional 232 shares during the last quarter. GWM Advisors LLC grew its holdings in shares of Essex Property Trust by 18.5% during the 1st quarter. GWM Advisors LLC now owns 1,687 shares of the real estate investment trust’s stock valued at $400,000 after purchasing an additional 263 shares during the last quarter. Atlantic Trust Group LLC grew its holdings in shares of Essex Property Trust by 0.5% during the 1st quarter. Atlantic Trust Group LLC now owns 55,150 shares of the real estate investment trust’s stock valued at $13,274,000 after purchasing an additional 290 shares during the last quarter. Nissay Asset Management Corp Japan ADV grew its holdings in shares of Essex Property Trust by 3.3% during the 2nd quarter. Nissay Asset Management Corp Japan ADV now owns 9,417 shares of the real estate investment trust’s stock valued at $2,251,000 after purchasing an additional 298 shares during the last quarter. Finally, Amalgamated Bank grew its holdings in shares of Essex Property Trust by 4.1% during the 2nd quarter. Amalgamated Bank now owns 8,467 shares of the real estate investment trust’s stock valued at $2,024,000 after purchasing an additional 330 shares during the last quarter. Hedge funds and other institutional investors own 96.19% of the company’s stock.

Several equities analysts recently commented on ESS shares. Stifel Nicolaus raised shares of Essex Property Trust from a “hold” rating to a “buy” rating and increased their target price for the company from $235.00 to $260.00 in a report on Thursday, August 2nd. Zacks Investment Research raised shares of Essex Property Trust from a “hold” rating to a “buy” rating and set a $262.00 target price on the stock in a report on Tuesday, July 31st. Bank of America increased their target price on shares of Essex Property Trust from $276.00 to $277.00 and gave the company a “buy” rating in a report on Friday, June 8th. Royal Bank of Canada reaffirmed a “buy” rating and set a $269.00 target price on shares of Essex Property Trust in a report on Thursday, August 30th. Finally, Mizuho reissued a “hold” rating and issued a $263.00 price target on shares of Essex Property Trust in a report on Monday, August 6th. Eleven equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Essex Property Trust has an average rating of “Buy” and a consensus price target of $263.44.

Shares of Essex Property Trust stock opened at $240.10 on Thursday. The firm has a market capitalization of $16.06 billion, a price-to-earnings ratio of 19.90, a PEG ratio of 3.17 and a beta of 0.30. Essex Property Trust Inc has a 12-month low of $214.03 and a 12-month high of $264.07. The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.85 and a current ratio of 1.85.

Essex Property Trust (NYSE:ESS) last announced its quarterly earnings results on Wednesday, August 1st. The real estate investment trust reported $3.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.10 by $0.04. The business had revenue of $348.72 million for the quarter, compared to analyst estimates of $348.58 million. Essex Property Trust had a net margin of 27.05% and a return on equity of 5.52%. During the same quarter last year, the firm earned $2.97 EPS. research analysts expect that Essex Property Trust Inc will post 12.56 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, October 12th. Shareholders of record on Friday, September 28th will be issued a $1.86 dividend. This represents a $7.44 dividend on an annualized basis and a yield of 3.10%. The ex-dividend date of this dividend is Thursday, September 27th. Essex Property Trust’s dividend payout ratio (DPR) is presently 62.47%.

In other news, insider Angela L. Kleiman sold 750 shares of Essex Property Trust stock in a transaction dated Thursday, August 16th. The shares were sold at an average price of $240.80, for a total transaction of $180,600.00. Following the sale, the insider now owns 9,149 shares of the company’s stock, valued at approximately $2,203,079.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 3.30% 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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Institutional Ownership by Quarter for Essex Property Trust (NYSE:ESS)

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