Boston Partners Has $205.72 Million Position in Essex Property Trust, Inc. (NYSE:ESS)

Key Points

• Boston Partners increased its holdings in Essex Property Trust by 10.4%, now owning 671,191 shares worth approximately $205.7 million.
• Several institutional investors are actively trading Essex Property Trust, with hedge funds collectively owning 96.51% of the company’s stock.
• Analysts have varied opinions on the stock, with target prices ranging from $285.00 to $309.00, resulting in an average rating of "Hold."

Boston Partners raised its position in Essex Property Trust, Inc. (NYSE:ESS - Free Report) by 10.4% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 671,191 shares of the real estate investment trust's stock after acquiring an additional 63,416 shares during the quarter. Boston Partners owned approximately 1.04% of Essex Property Trust worth $205,717,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Tokio Marine Asset Management Co. Ltd. lifted its stake in Essex Property Trust by 7.1% in the 1st quarter. Tokio Marine Asset Management Co. Ltd. now owns 2,172 shares of the real estate investment trust's stock valued at $666,000 after purchasing an additional 144 shares during the last quarter. S Bank Fund Management Ltd bought a new stake in Essex Property Trust in the first quarter valued at approximately $1,503,000. National Pension Service boosted its stake in shares of Essex Property Trust by 8.1% during the 1st quarter. National Pension Service now owns 123,707 shares of the real estate investment trust's stock worth $37,925,000 after acquiring an additional 9,276 shares during the period. GKV Capital Management Co. Inc. acquired a new position in shares of Essex Property Trust during the 1st quarter worth approximately $35,000. Finally, Russell Investments Group Ltd. raised its stake in Essex Property Trust by 12.3% in the 1st quarter. Russell Investments Group Ltd. now owns 358,586 shares of the real estate investment trust's stock valued at $109,926,000 after acquiring an additional 39,397 shares during the period. Institutional investors own 96.51% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on ESS shares. Evercore ISI reduced their price objective on shares of Essex Property Trust from $285.00 to $279.00 and set an "in-line" rating for the company in a research report on Tuesday. BMO Capital Markets increased their price target on shares of Essex Property Trust from $315.00 to $317.00 and gave the company an "outperform" rating in a report on Wednesday, May 28th. Scotiabank reduced their price objective on Essex Property Trust from $320.00 to $309.00 and set a "sector outperform" rating for the company in a report on Tuesday, August 5th. Wall Street Zen upgraded Essex Property Trust from a "sell" rating to a "hold" rating in a research note on Saturday, August 2nd. Finally, Mizuho decreased their price objective on Essex Property Trust from $314.00 to $293.00 and set an "outperform" rating on the stock in a report on Friday, May 23rd. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $302.86.

Essex Property Trust Price Performance

Shares of Essex Property Trust stock traded up $3.36 during midday trading on Friday, hitting $259.56. 378,401 shares of the company traded hands, compared to its average volume of 634,091. The firm's fifty day moving average price is $278.38 and its 200-day moving average price is $284.16. The stock has a market cap of $16.72 billion, a price-to-earnings ratio of 20.86, a PEG ratio of 6.67 and a beta of 0.80. Essex Property Trust, Inc. has a 12 month low of $243.85 and a 12 month high of $317.73. The company has a debt-to-equity ratio of 1.16, a quick ratio of 1.09 and a current ratio of 1.09.

Essex Property Trust (NYSE:ESS - Get Free Report) last announced its quarterly earnings results on Tuesday, July 29th. The real estate investment trust reported $4.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.99 by $0.04. Essex Property Trust had a net margin of 43.51% and a return on equity of 13.98%. The company had revenue of $465.84 million during the quarter, compared to the consensus estimate of $466.47 million. During the same period in the prior year, the business earned $3.94 earnings per share. As a group, sell-side analysts forecast that Essex Property Trust, Inc. will post 15.96 earnings per share for the current year.

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 252 apartment communities comprising approximately 62,000 apartment homes with an additional property in active development.