Essex Property Trust Inc (NYSE:ESS) Shares Acquired by Nuveen Asset Management LLC

Nuveen Asset Management LLC grew its holdings in Essex Property Trust Inc (NYSE:ESS) by 240.0% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 989,844 shares of the real estate investment trust’s stock after buying an additional 698,750 shares during the quarter. Nuveen Asset Management LLC’s holdings in Essex Property Trust were worth $288,964,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. FMR LLC grew its stake in shares of Essex Property Trust by 22.4% in the first quarter. FMR LLC now owns 2,303,608 shares of the real estate investment trust’s stock worth $666,295,000 after acquiring an additional 420,856 shares in the last quarter. APG Asset Management N.V. grew its stake in shares of Essex Property Trust by 2.8% in the second quarter. APG Asset Management N.V. now owns 14,768 shares of the real estate investment trust’s stock worth $3,786,000 after acquiring an additional 400 shares in the last quarter. Signaturefd LLC grew its stake in shares of Essex Property Trust by 36.1% in the second quarter. Signaturefd LLC now owns 230 shares of the real estate investment trust’s stock worth $67,000 after acquiring an additional 61 shares in the last quarter. Pictet Asset Management Ltd. grew its stake in shares of Essex Property Trust by 17.6% in the first quarter. Pictet Asset Management Ltd. now owns 46,111 shares of the real estate investment trust’s stock worth $13,337,000 after acquiring an additional 6,890 shares in the last quarter. Finally, Riverhead Capital Management LLC grew its stake in shares of Essex Property Trust by 23.1% during the second quarter. Riverhead Capital Management LLC now owns 6,139 shares of the real estate investment trust’s stock worth $1,792,000 after purchasing an additional 1,150 shares in the last quarter. Institutional investors and hedge funds own 96.85% of the company’s stock.

In related news, Director Janice L. Sears sold 2,500 shares of Essex Property Trust stock in a transaction on Friday, September 20th. The shares were sold at an average price of $324.26, for a total transaction of $810,650.00. Following the sale, the director now owns 3,583 shares of the company’s stock, valued at approximately $1,161,823.58. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider John F. Burkart sold 13,807 shares of Essex Property Trust stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $312.62, for a total transaction of $4,316,344.34. Following the sale, the insider now directly owns 17,726 shares in the company, valued at approximately $5,541,502.12. The disclosure for this sale can be found here. In the last three months, insiders sold 81,551 shares of company stock worth $25,904,657. Insiders own 3.60% of the company’s stock.



Several research analysts recently issued reports on ESS shares. Robert W. Baird cut shares of Essex Property Trust from an “outperform” rating to a “neutral” rating and increased their price target for the stock from $297.00 to $302.00 in a report on Tuesday, June 18th. Barclays raised their target price on shares of Essex Property Trust from $310.00 to $328.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 16th. BMO Capital Markets set a $310.00 target price on shares of Essex Property Trust and gave the stock a “hold” rating in a research report on Wednesday, July 24th. KeyCorp raised their target price on shares of Essex Property Trust from $311.00 to $320.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 31st. Finally, Stifel Nicolaus raised their target price on shares of Essex Property Trust from $300.00 to $325.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. Eight investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Essex Property Trust currently has an average rating of “Buy” and a consensus price target of $300.84.

Shares of ESS stock traded up $0.43 during mid-day trading on Wednesday, reaching $325.59. The company’s stock had a trading volume of 1,461 shares, compared to its average volume of 302,343. The company’s 50 day simple moving average is $317.91 and its 200-day simple moving average is $298.13. Essex Property Trust Inc has a 12-month low of $235.51 and a 12-month high of $330.80. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.92. The firm has a market capitalization of $21.22 billion, a PE ratio of 25.90, a price-to-earnings-growth ratio of 3.90 and a beta of 0.35.

Essex Property Trust (NYSE:ESS) last issued its earnings results on Wednesday, July 24th. The real estate investment trust reported $1.40 EPS for the quarter, missing the Zacks’ consensus estimate of $3.26 by ($1.86). Essex Property Trust had a net margin of 28.83% and a return on equity of 6.43%. The business had revenue of $361.64 million during the quarter, compared to analysts’ expectations of $358.15 million. During the same period in the prior year, the business posted $3.14 EPS. As a group, research analysts anticipate that Essex Property Trust Inc will post 13.33 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be paid a $1.95 dividend. This represents a $7.80 dividend on an annualized basis and a dividend yield of 2.40%. The ex-dividend date is Friday, September 27th. Essex Property Trust’s dividend payout ratio is presently 62.05%.

About Essex Property Trust

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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