Meag Munich Ergo Kapitalanlagegesellschaft MBH Lowers Stake in Essex Property Trust, Inc. (NYSE:ESS)

Meag Munich Ergo Kapitalanlagegesellschaft MBH reduced its stake in Essex Property Trust, Inc. (NYSE:ESS) by 14.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 43,880 shares of the real estate investment trust’s stock after selling 7,368 shares during the period. Meag Munich Ergo Kapitalanlagegesellschaft MBH owned approximately 0.07% of Essex Property Trust worth $11,395,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. BTR Capital Management Inc. raised its position in shares of Essex Property Trust by 0.7% in the second quarter. BTR Capital Management Inc. now owns 1,587 shares of the real estate investment trust’s stock valued at $408,000 after buying an additional 11 shares during the period. Bbva Compass Bancshares Inc. raised its position in shares of Essex Property Trust by 1.9% in the first quarter. Bbva Compass Bancshares Inc. now owns 1,124 shares of the real estate investment trust’s stock valued at $260,000 after buying an additional 21 shares during the period. Tiemann Investment Advisors LLC raised its position in shares of Essex Property Trust by 0.6% in the first quarter. Tiemann Investment Advisors LLC now owns 4,050 shares of the real estate investment trust’s stock valued at $938,000 after buying an additional 25 shares during the period. Gemmer Asset Management LLC raised its position in shares of Essex Property Trust by 0.7% in the first quarter. Gemmer Asset Management LLC now owns 4,235 shares of the real estate investment trust’s stock valued at $981,000 after buying an additional 29 shares during the period. Finally, Pacer Advisors Inc. raised its position in shares of Essex Property Trust by 3.1% in the first quarter. Pacer Advisors Inc. now owns 1,467 shares of the real estate investment trust’s stock valued at $340,000 after buying an additional 44 shares during the period. Institutional investors and hedge funds own 99.96% of the company’s stock.

Essex Property Trust, Inc. (NYSE ESS) traded down 0.56% during mid-day trading on Tuesday, reaching $261.28. 120,310 shares of the company’s stock were exchanged. The company’s 50-day moving average is $261.27 and its 200 day moving average is $242.57. Essex Property Trust, Inc. has a one year low of $200.01 and a one year high of $268.97. The firm has a market capitalization of $17.14 billion, a P/E ratio of 33.47 and a beta of 0.52.

Essex Property Trust (NYSE:ESS) last posted its quarterly earnings data on Thursday, April 27th. The real estate investment trust reported $2.94 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.89 by $0.05. Essex Property Trust had a net margin of 38.94% and a return on equity of 8.04%. The firm had revenue of $335.40 million for the quarter, compared to the consensus estimate of $332.80 million. During the same quarter in the prior year, the company posted $2.68 earnings per share. Equities analysts predict that Essex Property Trust, Inc. will post $6.04 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Friday, July 14th. Investors of record on Friday, June 30th were issued a $1.75 dividend. The ex-dividend date was Wednesday, June 28th. This represents a $7.00 annualized dividend and a yield of 2.66%. Essex Property Trust’s dividend payout ratio (DPR) is presently 89.74%.

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Several research analysts recently issued reports on the stock. Mizuho upgraded shares of Essex Property Trust from a “neutral” rating to a “buy” rating and increased their price target for the stock from $199.00 to $212.00 in a research note on Monday, May 1st. Zacks Investment Research lowered shares of Essex Property Trust from a “hold” rating to a “sell” rating in a research note on Tuesday, April 18th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $267.00 price target (up from $248.00) on shares of Essex Property Trust in a research note on Tuesday, May 16th. SunTrust Banks, Inc. lowered shares of Essex Property Trust from a “buy” rating to a “hold” rating and set a $257.00 price target for the company. in a research note on Thursday, May 18th. They noted that the move was a valuation call. Finally, Jefferies Group LLC reiterated a “hold” rating and issued a $234.00 price target on shares of Essex Property Trust in a research note on Tuesday, May 30th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and seven have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $255.00.

In related news, insider John F. Burkart sold 6,667 shares of the stock in a transaction that occurred on Monday, May 8th. The shares were sold at an average price of $248.71, for a total value of $1,658,149.57. Following the transaction, the insider now owns 11,152 shares in the company, valued at approximately $2,773,613.92. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Irving F. Lyons III sold 1,024 shares of the stock in a transaction that occurred on Thursday, May 18th. The stock was sold at an average price of $254.22, for a total transaction of $260,321.28. Following the completion of the transaction, the director now owns 8,854 shares in the company, valued at approximately $2,250,863.88. The disclosure for this sale can be found here. In the last quarter, insiders sold 32,826 shares of company stock worth $8,272,799. 3.30% of the stock is owned by corporate 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.

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

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