Sentry Investment Management LLC maintained its position in Essex Property Trust, Inc. (NYSE:ESS) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,035 shares of the real estate investment trust’s stock at the close of the second quarter. Sentry Investment Management LLC’s holdings in Essex Property Trust were worth $1,295,000 as of its most recent SEC filing.
Several other hedge funds also recently bought and sold shares of ESS. Bank of New York Mellon Corp lifted its holdings in shares of Essex Property Trust by 38.3% in the second quarter. Bank of New York Mellon Corp now owns 1,488,052 shares of the real estate investment trust’s stock worth $382,832,000 after acquiring an additional 412,316 shares during the last quarter. Koch Industries Inc. bought a new position in shares of Essex Property Trust in the second quarter worth about $301,000. American Century Companies Inc. bought a new position in shares of Essex Property Trust in the second quarter worth about $61,713,000. Renaissance Technologies LLC lifted its holdings in shares of Essex Property Trust by 120.1% in the second quarter. Renaissance Technologies LLC now owns 250,900 shares of the real estate investment trust’s stock worth $64,549,000 after acquiring an additional 136,900 shares during the last quarter. Finally, Janus Henderson Group PLC lifted its holdings in shares of Essex Property Trust by 1,333.6% in the second quarter. Janus Henderson Group PLC now owns 119,666 shares of the real estate investment trust’s stock worth $30,787,000 after acquiring an additional 111,319 shares during the last quarter. 99.45% of the stock is owned by hedge funds and other institutional investors.
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In other Essex Property Trust news, CEO Michael J. Schall sold 333 shares of Essex Property Trust stock in a transaction that occurred on Tuesday, October 10th. The shares were sold at an average price of $257.92, for a total value of $85,887.36. Following the completion of the sale, the chief executive officer now directly owns 45,096 shares of the company’s stock, valued at approximately $11,631,160.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider John D. Eudy sold 166 shares of Essex Property Trust stock in a transaction that occurred on Tuesday, October 10th. The stock was sold at an average price of $257.92, for a total transaction of $42,814.72. The disclosure for this sale can be found here. Insiders sold a total of 11,397 shares of company stock valued at $3,022,662 over the last ninety days. 3.30% of the stock is owned by corporate insiders.
A number of research firms have recently commented on ESS. Barclays PLC reissued a “buy” rating and issued a $283.00 target price on shares of Essex Property Trust in a report on Thursday. Robert W. Baird reiterated a “buy” rating and issued a $273.00 price objective on shares of Essex Property Trust in a report on Tuesday. Zacks Investment Research lowered shares of Essex Property Trust from a “buy” rating to a “hold” rating in a report on Friday, October 13th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $276.00 price objective (up previously from $267.00) on shares of Essex Property Trust in a report on Sunday, August 13th. Finally, BidaskClub upgraded shares of Essex Property Trust from a “buy” rating to a “strong-buy” rating in a report on Tuesday, August 22nd. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Hold” and an average price target of $268.27.
Essex Property Trust, Inc. (NYSE:ESS) traded down 0.69% during mid-day trading on Thursday, reaching $259.42. 14,702 shares of the company’s stock were exchanged. The stock has a 50-day moving average of $259.73 and a 200-day moving average of $256.48. Essex Property Trust, Inc. has a one year low of $200.01 and a one year high of $270.04. The stock has a market cap of $17.12 billion, a price-to-earnings ratio of 33.36 and a beta of 0.53.
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 anticipate that Essex Property Trust, Inc. will post $5.89 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Monday, October 16th. Shareholders of record on Friday, September 29th were paid a $1.75 dividend. The ex-dividend date was Thursday, September 28th. This represents a $7.00 annualized dividend and a yield of 2.68%. Essex Property Trust’s payout ratio is currently 89.97%.
Essex Property Trust Company Profile
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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