Toronto Dominion Bank boosted its stake in shares of Essex Property Trust Inc (NYSE:ESS) by 46.8% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 62,074 shares of the real estate investment trust’s stock after buying an additional 19,803 shares during the period. Toronto Dominion Bank’s holdings in Essex Property Trust were worth $17,949,000 as of its most recent filing with the SEC.
Other hedge funds also recently made changes to their positions in the company. Legal & General Group Plc raised its holdings in shares of Essex Property Trust by 4.3% in the fourth quarter. Legal & General Group Plc now owns 603,903 shares of the real estate investment trust’s stock valued at $148,091,000 after purchasing an additional 25,082 shares during the last quarter. Cambridge Investment Research Advisors Inc. boosted its holdings in Essex Property Trust by 10.2% in the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 2,149 shares of the real estate investment trust’s stock valued at $527,000 after acquiring an additional 199 shares during the last quarter. Norges Bank bought a new position in shares of Essex Property Trust during the 4th quarter worth approximately $142,785,000. EP Wealth Advisors LLC bought a new position in shares of Essex Property Trust during the 4th quarter worth approximately $522,000. Finally, IFM Investors Pty Ltd boosted its holdings in shares of Essex Property Trust by 10.2% during the 4th quarter. IFM Investors Pty Ltd now owns 3,787 shares of the real estate investment trust’s stock worth $929,000 after buying an additional 352 shares in the last quarter. Hedge funds and other institutional investors own 97.13% of the company’s stock.
ESS has been the topic of a number of research analyst reports. Zacks Investment Research upgraded Essex Property Trust from a “hold” rating to a “buy” rating and set a $314.00 price target on the stock in a report on Friday, May 10th. Barclays restated a “buy” rating and set a $310.00 price target on shares of Essex Property Trust in a report on Tuesday, April 16th. BMO Capital Markets restated a “hold” rating and set a $260.00 price target on shares of Essex Property Trust in a report on Wednesday, January 30th. Jefferies Financial Group cut Essex Property Trust from a “buy” rating to a “hold” rating and increased their price target for the stock from $290.00 to $295.00 in a report on Thursday, February 7th. They noted that the move was a valuation call. Finally, Citigroup set a $275.00 price target on Essex Property Trust and gave the stock a “hold” rating in a report on Tuesday, February 5th. Ten research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $282.17.
In related news, Director Janice L. Sears sold 2,838 shares of the stock in a transaction on Friday, March 15th. The stock was sold at an average price of $289.27, for a total value of $820,948.26. Following the transaction, the director now directly owns 3,921 shares in the company, valued at approximately $1,134,227.67. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Michael J. Schall sold 2,682 shares of the stock in a transaction on Friday, March 15th. The stock was sold at an average price of $290.10, for a total value of $778,048.20. Following the completion of the transaction, the insider now owns 43,533 shares in the company, valued at $12,628,923.30. The disclosure for this sale can be found here. Over the last quarter, insiders sold 11,110 shares of company stock worth $3,224,758. 3.60% of the stock is owned by company insiders.
Shares of ESS traded down $0.30 during trading hours on Friday, reaching $285.64. The stock had a trading volume of 2,708 shares, compared to its average volume of 267,861. Essex Property Trust Inc has a 12 month low of $226.22 and a 12 month high of $294.61. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.91. The stock has a market cap of $18.67 billion, a P/E ratio of 22.62, a P/E/G ratio of 3.82 and a beta of 0.45.
Essex Property Trust (NYSE:ESS) last issued its earnings results on Wednesday, April 24th. The real estate investment trust reported $3.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.19 by $0.04. Essex Property Trust had a return on equity of 6.50% and a net margin of 29.67%. The company had revenue of $356.22 million for the quarter, compared to analysts’ expectations of $353.55 million. During the same period last year, the business earned $3.09 EPS. On average, analysts expect that Essex Property Trust Inc will post 13.12 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, July 12th. Investors of record on Friday, June 28th will be issued a $1.95 dividend. This represents a $7.80 dividend on an annualized basis and a dividend yield of 2.73%. The ex-dividend date is Thursday, June 27th. Essex Property Trust’s dividend payout ratio is currently 62.05%.
Essex Property Trust Company 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.
See Also: Economic Reports
Want to see what other hedge funds are holding ESS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Essex Property Trust Inc (NYSE:ESS).
Receive News & Ratings for Essex Property Trust Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Essex Property Trust and related companies with MarketBeat.com's FREE daily email newsletter.