Honeywell International Inc. Holds Stake in Essex Property Trust, Inc. (ESS)

Honeywell International Inc. maintained its position in Essex Property Trust, Inc. (NYSE:ESS) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,980 shares of the real estate investment trust’s stock at the end of the second quarter. Honeywell International Inc.’s holdings in Essex Property Trust were worth $4,368,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Muzinich & Co. Inc. boosted its position in 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 valued at $128,000 after buying an additional 392 shares during the period. Advisors Asset Management Inc. boosted 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 valued at $151,000 after buying an additional 354 shares during the last quarter. FNY Partners Fund LP bought a new position in shares of Essex Property Trust during the first quarter valued at about $165,000. Perigon Wealth Management LLC boosted 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 valued at $192,000 after buying an additional 735 shares during the last quarter. Finally, RB Capital Management LLC bought a new position in shares of Essex Property Trust during the second quarter valued at about $218,000. Institutional investors own 98.88% of the company’s stock.

Shares of Essex Property Trust, Inc. (NYSE:ESS) opened at 261.51 on Tuesday. Essex Property Trust, Inc. has a 52-week low of $200.01 and a 52-week high of $268.97. The company has a 50-day moving average of $261.14 and a 200 day moving average of $244.06. The stock has a market cap of $17.26 billion, a P/E ratio of 33.63 and a beta of 0.52.

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

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 14th. Shareholders of record on Friday, June 30th were issued a $1.75 dividend. This represents a $7.00 dividend on an annualized basis and a yield of 2.68%. The ex-dividend date was Wednesday, June 28th. Essex Property Trust’s dividend payout ratio is presently 89.97%.

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Several brokerages have recently issued reports on ESS. Mizuho upgraded shares of Essex Property Trust from a “neutral” rating to a “buy” rating and upped their target price for the company from $199.00 to $212.00 in a report on Monday, May 1st. Zacks Investment Research cut shares of Essex Property Trust from a “hold” rating to a “sell” rating in a report on Tuesday, April 18th. Royal Bank Of Canada restated an “outperform” rating and issued a $267.00 target price (up previously from $248.00) on shares of Essex Property Trust in a report on Tuesday, May 16th. SunTrust Banks, Inc. cut shares of Essex Property Trust from a “buy” rating to a “hold” rating and set a $257.00 target price for the company. in a report on Thursday, May 18th. They noted that the move was a valuation call. Finally, Canaccord Genuity set a $270.00 target price on shares of Essex Property Trust and gave the company a “hold” rating in a report on Monday, July 31st. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and six have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $262.92.

In other Essex Property Trust news, insider Angela L. Kleiman sold 3,417 shares of Essex Property Trust stock in a transaction on Wednesday, May 10th. The shares were sold at an average price of $252.35, for a total value of $862,279.95. Following the completion of the transaction, the insider now owns 10,594 shares of the company’s stock, valued at $2,673,395.90. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Gary P. Martin sold 1,000 shares of Essex Property Trust stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $261.94, for a total transaction of $261,940.00. Following the completion of the transaction, the director now directly owns 6,236 shares of the company’s stock, valued at approximately $1,633,457.84. The disclosure for this sale can be found here. In the last ninety days, insiders sold 27,492 shares of company stock valued at $6,963,783. 3.30% of the stock is currently owned by corporate insiders.

About Essex Property Trust

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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