Teachers Insurance & Annuity Association of America grew its stake in Essex Property Trust Inc (NYSE:ESS) by 8.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 66,490 shares of the real estate investment trust’s stock after buying an additional 5,293 shares during the quarter. Essex Property Trust makes up 2.3% of Teachers Insurance & Annuity Association of America’s portfolio, making the stock its 12th biggest holding. Teachers Insurance & Annuity Association of America owned 0.10% of Essex Property Trust worth $19,410,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of ESS. FMR LLC grew its position in shares of Essex Property Trust by 22.4% during the first quarter. FMR LLC now owns 2,303,608 shares of the real estate investment trust’s stock worth $666,295,000 after purchasing an additional 420,856 shares in the last quarter. Northern Trust Corp boosted its stake in Essex Property Trust by 7.6% in the 2nd quarter. Northern Trust Corp now owns 1,210,865 shares of the real estate investment trust’s stock worth $353,488,000 after purchasing an additional 85,299 shares during the period. Geode Capital Management LLC grew its holdings in Essex Property Trust by 9.1% during the 4th quarter. Geode Capital Management LLC now owns 1,082,222 shares of the real estate investment trust’s stock valued at $265,001,000 after buying an additional 90,392 shares in the last quarter. Bank of Montreal Can grew its holdings in Essex Property Trust by 1.0% during the 2nd quarter. Bank of Montreal Can now owns 965,211 shares of the real estate investment trust’s stock valued at $281,775,000 after buying an additional 9,765 shares in the last quarter. Finally, Renaissance Technologies LLC grew its holdings in Essex Property Trust by 10.9% during the 2nd quarter. Renaissance Technologies LLC now owns 878,226 shares of the real estate investment trust’s stock valued at $256,381,000 after buying an additional 86,426 shares in the last quarter. 96.80% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Essex Property Trust stock traded up $0.63 on Wednesday, reaching $321.81. The company had a trading volume of 11,384 shares, compared to its average volume of 303,956. The firm has a market cap of $21.41 billion, a price-to-earnings ratio of 25.59, a P/E/G ratio of 3.94 and a beta of 0.35. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.92 and a quick ratio of 0.92. The firm’s 50-day moving average price is $312.41 and its two-hundred day moving average price is $295.30. Essex Property Trust Inc has a 1 year low of $235.51 and a 1 year high of $327.43.

Essex Property Trust (NYSE:ESS) last posted its quarterly earnings data on Wednesday, July 24th. The real estate investment trust reported $1.40 earnings per share for the quarter, missing the Zacks’ consensus estimate of $3.26 by ($1.86). The firm had revenue of $361.64 million for the quarter, compared to the consensus estimate of $358.15 million. Essex Property Trust had a net margin of 28.83% and a return on equity of 6.43%. During the same quarter last year, the firm earned $3.14 EPS. As a group, analysts anticipate that Essex Property Trust Inc will post 13.32 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be paid a dividend of $1.95 per share. This represents a $7.80 dividend on an annualized basis and a dividend yield of 2.42%. The ex-dividend date is Friday, September 27th. Essex Property Trust’s dividend payout ratio is currently 62.05%.

Several equities analysts recently weighed in on ESS shares. BMO Capital Markets set a $310.00 target price on shares of Essex Property Trust and gave the company a “hold” rating in a research note on Wednesday, July 24th. Stifel Nicolaus lifted their target price on Essex Property Trust from $300.00 to $325.00 and gave the stock a “buy” rating in a report on Friday, July 26th. Robert W. Baird downgraded Essex Property Trust from an “outperform” rating to a “neutral” rating and boosted their target price for the stock from $297.00 to $302.00 in a research report on Tuesday, June 18th. Zacks Investment Research lowered Essex Property Trust from a “buy” rating to a “hold” rating in a research note on Thursday, May 16th. Finally, Barclays raised their price target on Essex Property Trust from $310.00 to $328.00 and gave the company an “overweight” rating in a report on Tuesday, July 16th. Eight research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $300.84.

In other news, CIO Adam W. Berry sold 9,369 shares of Essex Property Trust stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $314.22, for a total transaction of $2,943,927.18. Following the completion of the sale, the executive now owns 11,966 shares of the company’s stock, valued at $3,759,956.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Michael J. Schall sold 35,250 shares of the business’s stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $319.22, for a total value of $11,252,505.00. Following the completion of the sale, the insider now owns 75,101 shares of the company’s stock, valued at approximately $23,973,741.22. The disclosure for this sale can be found here. Insiders have sold a total of 79,051 shares of company stock valued at $25,094,007 over the last three months. 3.60% of the stock is owned by corporate insiders.

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. 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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