Honeywell International Inc. Sells 2,030 Shares of Essex Property Trust Inc (NYSE:ESS)

Honeywell International Inc. reduced its position in Essex Property Trust Inc (NYSE:ESS) by 8.1% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 22,947 shares of the real estate investment trust’s stock after selling 2,030 shares during the quarter. Essex Property Trust comprises about 2.6% of Honeywell International Inc.’s holdings, making the stock its 10th largest position. Honeywell International Inc.’s holdings in Essex Property Trust were worth $6,699,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. BB&T Corp acquired a new position in shares of Essex Property Trust during the 2nd quarter worth $311,000. Nippon Life Global Investors Americas Inc. acquired a new position in shares of Essex Property Trust during the 2nd quarter worth $8,151,000. Commerzbank Aktiengesellschaft FI grew its stake in shares of Essex Property Trust by 20.3% during the 2nd quarter. Commerzbank Aktiengesellschaft FI now owns 961 shares of the real estate investment trust’s stock worth $281,000 after purchasing an additional 162 shares during the period. First Midwest Bank Trust Division grew its stake in shares of Essex Property Trust by 10.1% during the 2nd quarter. First Midwest Bank Trust Division now owns 914 shares of the real estate investment trust’s stock worth $267,000 after purchasing an additional 84 shares during the period. Finally, World Asset Management Inc grew its stake in shares of Essex Property Trust by 0.9% during the 2nd quarter. World Asset Management Inc now owns 4,802 shares of the real estate investment trust’s stock worth $1,402,000 after purchasing an additional 41 shares during the period. 97.63% of the stock is currently owned by institutional investors.

ESS has been the topic of a number of recent analyst reports. Morgan Stanley upped their price target on shares of Essex Property Trust from $292.00 to $320.00 and gave the stock an “overweight” rating in a research note on Thursday, June 27th. Zacks Investment Research cut shares of Essex Property Trust from a “buy” rating to a “hold” rating in a research note on Thursday, May 16th. Stifel Nicolaus increased their price objective on shares of Essex Property Trust from $300.00 to $325.00 and gave the company a “buy” rating in a research note on Friday, July 26th. KeyCorp increased their price objective on shares of Essex Property Trust from $311.00 to $320.00 and gave the company an “overweight” rating in a research note on Wednesday. Finally, BMO Capital Markets set a $310.00 price objective on shares of Essex Property Trust and gave the company a “hold” rating in a research note on Wednesday, July 24th. Ten research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $294.17.

NYSE:ESS opened at $305.39 on Friday. The stock has a market cap of $19.86 billion, a price-to-earnings ratio of 24.30, a price-to-earnings-growth ratio of 3.94 and a beta of 0.37. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.92 and a current ratio of 0.92. The company has a 50-day moving average price of $300.10. Essex Property Trust Inc has a 12-month low of $234.37 and a 12-month high of $310.54.

Essex Property Trust (NYSE:ESS) last released its earnings results on Wednesday, July 24th. The real estate investment trust reported $1.40 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $3.26 by ($1.86). The firm had revenue of $361.64 million during the quarter, compared to analysts’ expectations of $358.15 million. Essex Property Trust had a net margin of 28.83% and a return on equity of 6.43%. During the same quarter last year, the company posted $3.14 earnings per share. As a group, equities analysts predict that Essex Property Trust Inc will post 13.27 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Friday, July 12th. Shareholders of record on Friday, June 28th were issued a $1.95 dividend. The ex-dividend date was Thursday, June 27th. This represents a $7.80 dividend on an annualized basis and a yield of 2.55%. Essex Property Trust’s dividend payout ratio (DPR) is 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.

Read More: How to Calculate Compound Annual Growth Rate (CAGR)

Want to see what other hedge funds are holding ESS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Essex Property Trust Inc (NYSE:ESS).

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

Receive News & Ratings for Essex Property Trust Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Essex Property Trust and related companies with MarketBeat.com's FREE daily email newsletter.