Barclays PLC boosted its position in shares of Essex Property Trust Inc (NYSE:ESS) by 44.0% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 171,636 shares of the real estate investment trust’s stock after acquiring an additional 52,455 shares during the quarter. Barclays PLC owned 0.26% of Essex Property Trust worth $41,312,000 at the end of the most recent quarter.
Other institutional investors have also recently made changes to their positions in the company. Tower Research Capital LLC TRC purchased a new position in shares of Essex Property Trust in the 4th quarter valued at about $100,000. Shelton Capital Management purchased a new position in shares of Essex Property Trust in the 4th quarter valued at about $208,000. Wolverine Asset Management LLC purchased a new position in shares of Essex Property Trust in the 4th quarter valued at about $240,000. Signition LP purchased a new position in shares of Essex Property Trust in the 4th quarter valued at about $250,000. Finally, Two Sigma Securities LLC purchased a new position in shares of Essex Property Trust in the 4th quarter valued at about $265,000. Institutional investors own 97.30% of the company’s stock.
Several brokerages have recently issued reports on ESS. Morgan Stanley decreased their price objective on Essex Property Trust from $267.00 to $260.00 and set an “overweight” rating for the company in a research note on Thursday, June 14th. Bank of America lifted their price objective on Essex Property Trust from $276.00 to $277.00 and gave the company a “buy” rating in a research note on Friday, June 8th. ValuEngine cut Essex Property Trust from a “hold” rating to a “sell” rating in a research note on Thursday, May 17th. Sandler O’Neill reissued a “hold” rating and set a $250.00 target price on shares of Essex Property Trust in a research report on Tuesday, March 20th. Finally, SunTrust Banks lowered Essex Property Trust from a “buy” rating to a “hold” rating and raised their target price for the stock from $241.99 to $253.00 in a research report on Tuesday, March 20th. They noted that the move was a valuation call. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. Essex Property Trust currently has a consensus rating of “Buy” and an average price target of $263.55.
Essex Property Trust (NYSE:ESS) last released its quarterly earnings results on Wednesday, May 2nd. The real estate investment trust reported $1.38 EPS for the quarter, topping the consensus estimate of $1.10 by $0.28. The company had revenue of $347.26 million for the quarter, compared to analyst estimates of $347.53 million. Essex Property Trust had a return on equity of 5.10% and a net margin of 25.08%. During the same quarter in the previous year, the company posted $2.94 earnings per share. equities analysts predict that Essex Property Trust Inc will post 12.49 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, July 13th. Stockholders of record on Friday, June 29th will be issued a $1.86 dividend. This represents a $7.44 dividend on an annualized basis and a dividend yield of 3.20%. The ex-dividend date of this dividend is Thursday, June 28th. Essex Property Trust’s payout ratio is currently 62.47%.
In other news, insider John F. Burkart sold 2,500 shares of the business’s stock in a transaction that occurred on Friday, May 11th. The stock was sold at an average price of $243.19, for a total value of $607,975.00. Following the transaction, the insider now owns 7,429 shares of the company’s stock, valued at $1,806,658.51. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 3.40% of the company’s stock.
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. The Company currently has ownership interests in 247 apartment communities comprising more than 60,000 apartment homes with an additional 7 properties in various stages of active development.
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