Essex Property Trust Inc (NYSE:ESS) Stock Position Increased by TD Asset Management Inc.

TD Asset Management Inc. boosted its position in Essex Property Trust Inc (NYSE:ESS) by 242.1% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 106,850 shares of the real estate investment trust’s stock after purchasing an additional 75,617 shares during the quarter. TD Asset Management Inc. owned about 0.16% of Essex Property Trust worth $31,193,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the stock. Front Row Advisors LLC increased its stake in Essex Property Trust by 1,055.6% during the 1st quarter. Front Row Advisors LLC now owns 104 shares of the real estate investment trust’s stock valued at $30,000 after buying an additional 95 shares during the period. Zions Bancorporation N.A. acquired a new position in Essex Property Trust during the 1st quarter valued at about $33,000. Pearl River Capital LLC acquired a new position in Essex Property Trust during the 1st quarter valued at about $38,000. Flagship Harbor Advisors LLC increased its stake in Essex Property Trust by 243.9% during the 2nd quarter. Flagship Harbor Advisors LLC now owns 141 shares of the real estate investment trust’s stock valued at $41,000 after buying an additional 100 shares during the period. Finally, Valeo Financial Advisors LLC acquired a new position in Essex Property Trust during the 2nd quarter valued at about $65,000. Hedge funds and other institutional investors own 97.65% of the company’s stock.

Several equities analysts have commented on ESS shares. Robert W. Baird cut shares of Essex Property Trust from an “outperform” rating to a “neutral” rating and raised their target price for the company from $297.00 to $302.00 in a research note on Tuesday, June 18th. Citigroup raised their target price on shares of Essex Property Trust from $280.00 to $300.00 and gave the company a “neutral” rating in a research note on Tuesday, July 30th. Morgan Stanley raised their target price on shares of Essex Property Trust from $292.00 to $320.00 and gave the company an “overweight” rating in a research note on Thursday, June 27th. BTIG Research raised shares of Essex Property Trust from a “neutral” rating to a “buy” rating and set a $335.00 target price on the stock in a research note on Thursday. Finally, KeyCorp raised their target price on shares of Essex Property Trust from $311.00 to $320.00 and gave the company an “overweight” rating in a research note on Wednesday, July 31st. Eight analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $296.73.

Shares of ESS traded up $3.83 during mid-day trading on Friday, hitting $316.46. The company’s stock had a trading volume of 2,970 shares, compared to its average volume of 335,042. The firm has a 50-day moving average price of $301.71 and a 200 day moving average price of $289.89. The stock has a market capitalization of $20.59 billion, a price-to-earnings ratio of 24.97, a PEG ratio of 3.80 and a beta of 0.37. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.92 and a quick ratio of 0.92. Essex Property Trust Inc has a fifty-two week low of $235.51 and a fifty-two week high of $313.43.

Essex Property Trust (NYSE:ESS) last announced its quarterly earnings data on Wednesday, July 24th. The real estate investment trust reported $1.40 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $3.26 by ($1.86). The business had revenue of $361.64 million during the quarter, compared to analyst estimates of $358.15 million. Essex Property Trust had a return on equity of 6.43% and a net margin of 28.83%. During the same period in the prior year, the firm earned $3.14 EPS. As a group, equities analysts anticipate that Essex Property Trust Inc will post 13.29 EPS for the current fiscal year.

Essex Property Trust Profile

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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