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Warren Averett Asset Management LLC Cuts Position in Essex Property Trust, Inc. (ESS)

Essex Property Trust logoWarren Averett Asset Management LLC cut its position in shares of Essex Property Trust, Inc. (NYSE:ESS) by 0.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 867 shares of the real estate investment trust’s stock after selling 1 shares during the period. Warren Averett Asset Management LLC’s holdings in Essex Property Trust were worth $223,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of ESS. Muzinich & Co. Inc. increased its position in shares of Essex Property Trust by 246.5% in the first quarter. Muzinich & Co. Inc. now owns 551 shares of the real estate investment trust’s stock worth $128,000 after buying an additional 392 shares in the last quarter. Advisors Asset Management Inc. increased its position in shares of Essex Property Trust by 118.0% in the first quarter. Advisors Asset Management Inc. now owns 654 shares of the real estate investment trust’s stock worth $151,000 after buying an additional 354 shares in the last quarter. FNY Partners Fund LP acquired a new position in shares of Essex Property Trust during the first quarter worth approximately $165,000. Perigon Wealth Management LLC increased its position in shares of Essex Property Trust by 835.2% in the first quarter. Perigon Wealth Management LLC now owns 823 shares of the real estate investment trust’s stock worth $192,000 after buying an additional 735 shares in the last quarter. Finally, Almanack Investment Partners LLC. acquired a new position in shares of Essex Property Trust during the first quarter worth approximately $217,000. 99.78% of the stock is currently owned by institutional investors and hedge funds.

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Essex Property Trust, Inc. (ESS) opened at 263.27 on Friday. Essex Property Trust, Inc. has a one year low of $200.01 and a one year high of $268.97. The firm has a market capitalization of $17.37 billion, a price-to-earnings ratio of 33.85 and a beta of 0.52. The firm’s 50-day moving average is $261.14 and its 200 day moving average is $244.06.

Essex Property Trust (NYSE:ESS) last released its earnings results on Thursday, July 27th. The real estate investment trust reported $2.97 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.92 by $0.05. Essex Property Trust had a return on equity of 8.03% and a net margin of 38.33%. The firm had revenue of $339.06 million for the quarter, compared to analysts’ expectations of $336.17 million. During the same quarter in the previous year, the business posted $2.74 earnings per share. Analysts forecast that Essex Property Trust, Inc. will post $6.05 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Friday, July 14th. Shareholders of record on Friday, June 30th were given a $1.75 dividend. This represents a $7.00 dividend on an annualized basis and a yield of 2.66%. The ex-dividend date of this dividend was Wednesday, June 28th. Essex Property Trust’s dividend payout ratio is presently 89.97%.

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A number of equities analysts have recently commented on the stock. Jefferies Group LLC reissued a “hold” rating and issued a $234.00 target price on shares of Essex Property Trust in a research note on Tuesday, May 30th. Royal Bank Of Canada reissued a “buy” rating and issued a $267.00 target price on shares of Essex Property Trust in a research note on Sunday, July 16th. Zacks Investment Research raised shares of Essex Property Trust from a “hold” rating to a “buy” rating and set a $283.00 target price on the stock in a research note on Tuesday, July 11th. Mizuho downgraded shares of Essex Property Trust from a “buy” rating to a “neutral” rating and set a $283.00 target price on the stock. in a research note on Monday. Finally, Cantor Fitzgerald reaffirmed a “buy” rating and set a $269.00 price target on shares of Essex Property Trust in a research note on Wednesday, May 3rd. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and six have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $262.92.

In other Essex Property Trust news, insider John F. Burkart sold 333 shares of Essex Property Trust stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $261.84, for a total value of $87,192.72. Following the transaction, the insider now owns 4,818 shares in the company, valued at $1,261,545.12. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Gary P. Martin sold 1,000 shares of Essex Property Trust stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $261.94, for a total value of $261,940.00. Following the completion of the transaction, the director now owns 6,236 shares in the company, valued at approximately $1,633,457.84. The disclosure for this sale can be found here. In the last quarter, insiders sold 34,159 shares of company stock worth $8,621,932. Company insiders own 3.30% of the company’s stock.

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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Institutional Ownership by Quarter for Essex Property Trust (NYSE:ESS)

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