Resolution Capital Ltd Purchases 79,479 Shares of Essex Property Trust, Inc. (ESS)

Resolution Capital Ltd lifted its position in shares of Essex Property Trust, Inc. (NYSE:ESS) by 28.3% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 360,236 shares of the real estate investment trust’s stock after purchasing an additional 79,479 shares during the period. Essex Property Trust comprises about 4.2% of Resolution Capital Ltd’s holdings, making the stock its 10th largest position. Resolution Capital Ltd owned 0.55% of Essex Property Trust worth $91,511,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. increased its position in shares of Essex Property Trust by 0.8% during the second quarter. Vanguard Group Inc. now owns 11,496,906 shares of the real estate investment trust’s stock worth $2,957,809,000 after purchasing an additional 92,531 shares in the last quarter. BlackRock Inc. increased its position in Essex Property Trust by 1.5% in the 2nd quarter. BlackRock Inc. now owns 6,573,361 shares of the real estate investment trust’s stock valued at $1,691,128,000 after acquiring an additional 94,331 shares during the period. State Street Corp increased its position in Essex Property Trust by 0.7% in the 2nd quarter. State Street Corp now owns 4,744,926 shares of the real estate investment trust’s stock valued at $1,220,731,000 after acquiring an additional 30,726 shares during the period. Principal Financial Group Inc. increased its position in Essex Property Trust by 4.3% in the 2nd quarter. Principal Financial Group Inc. now owns 2,247,592 shares of the real estate investment trust’s stock valued at $578,237,000 after acquiring an additional 91,814 shares during the period. Finally, Bank of New York Mellon Corp increased its position in Essex Property Trust by 38.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,488,052 shares of the real estate investment trust’s stock valued at $382,832,000 after acquiring an additional 412,316 shares during the period. Institutional investors and hedge funds own 99.63% of the company’s stock.

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The business also recently announced a quarterly dividend, which was paid on Monday, October 16th. Shareholders of record on Friday, September 29th were paid a dividend of $1.75 per share. This represents a $7.00 dividend on an annualized basis and a dividend yield of 2.67%. The ex-dividend date of this dividend was Thursday, September 28th. Essex Property Trust’s dividend payout ratio (DPR) is currently 89.97%.

In other Essex Property Trust news, CEO Michael J. Schall sold 333 shares of Essex Property Trust stock in a transaction on Thursday, August 10th. The shares were sold at an average price of $263.97, for a total transaction of $87,902.01. Following the completion of the sale, the chief executive officer now owns 45,096 shares of the company’s stock, valued at approximately $11,903,991.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider John D. Eudy sold 167 shares of Essex Property Trust stock in a transaction on Thursday, August 10th. The shares were sold at an average price of $263.97, for a total transaction of $44,082.99. Following the sale, the insider now directly owns 8,597 shares of the company’s stock, valued at approximately $2,269,350.09. The disclosure for this sale can be found here. Insiders have sold a total of 10,064 shares of company stock valued at $2,673,529 in the last three months. Company insiders own 3.30% of the company’s stock.

Several equities analysts recently issued reports on ESS shares. Cantor Fitzgerald restated a “buy” rating and issued a $278.00 price target on shares of Essex Property Trust in a research report on Thursday, July 27th. Zacks Investment Research upgraded Essex Property Trust from a “hold” rating to a “buy” rating and set a $289.00 price target on the stock in a research report on Tuesday, October 10th. Barclays PLC boosted their price target on Essex Property Trust from $267.00 to $269.00 and gave the company an “overweight” rating in a research report on Tuesday, July 18th. Raymond James Financial, Inc. cut Essex Property Trust from an “outperform” rating to a “hold” rating and set a $270.00 price target on the stock. in a research report on Wednesday, August 9th. Finally, Robert W. Baird restated a “buy” rating and issued a $273.00 price target on shares of Essex Property Trust in a research report on Tuesday, September 12th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $268.27.

Essex Property Trust 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.

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

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