Assetmark Inc buys $9.2 Million stake in Essex Property Trust Inc (ESS)

Essex Property Trust Inc (ESS) : Assetmark Inc scooped up 2,088 additional shares in Essex Property Trust Inc during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 13, 2016. The investment management firm now holds a total of 40,324 shares of Essex Property Trust Inc which is valued at $9.2 Million.Essex Property Trust Inc makes up approximately 0.16% of Assetmark Inc’s portfolio.

Other Hedge Funds, Including , State Of Tennessee Treasury Department boosted its stake in ESS in the latest quarter, The investment management firm added 693 additional shares and now holds a total of 20,749 shares of Essex Property Trust Inc which is valued at $4.7 Million. Essex Property Trust Inc makes up approx 0.03% of State Of Tennessee Treasury Department’s portfolio.Raymond James Associates reduced its stake in ESS by selling 10,285 shares or 35.48% in the most recent quarter. The Hedge Fund company now holds 18,707 shares of ESS which is valued at $4.3 Million. Essex Property Trust Inc makes up approx 0.01% of Raymond James Associates’s portfolio. Great Lakes Advisors added ESS to its portfolio by purchasing 2,069 company shares during the most recent quarter which is valued at $471,215. Essex Property Trust Inc makes up approx 0.01% of Great Lakes Advisors’s portfolio.Shell Asset Management Co reduced its stake in ESS by selling 966 shares or 6.13% in the most recent quarter. The Hedge Fund company now holds 14,787 shares of ESS which is valued at $3.4 Million. Essex Property Trust Inc makes up approx 0.08% of Shell Asset Management Co’s portfolio.Blackrock Institutional Trust Company N.a. boosted its stake in ESS in the latest quarter, The investment management firm added 114,421 additional shares and now holds a total of 2,685,150 shares of Essex Property Trust Inc which is valued at $611.5 Million. Essex Property Trust Inc makes up approx 0.10% of Blackrock Institutional Trust Company N.a.’s portfolio.

Essex Property Trust Inc opened for trading at $223.86 and hit $226.37 on the upside on Wednesday, eventually ending the session at $226, with a gain of 1.12% or 2.51 points. The heightened volatility saw the trading volume jump to 4,26,745 shares. Company has a market cap of $14,787 M.

On the company’s financial health, Essex Property Trust Inc reported $2.68 EPS for the quarter, beating the analyst consensus estimate by $ 0.04 according to the earnings call on Apr 28, 2016. Analyst had a consensus of $2.64.Analysts expectations of $ 311.03.During the same quarter in the previous year, the company posted $2.29 EPS.

Investors should note that on May 20, 2016, Essex Property Trust Inc announced a cash dividend of $1.6000. The company’s management has announced Jun 28, 2016 as the ex-dividend date and fixed the record date on Jun 30, 2016. The payable date has been fixed on Jul 15, 2016.

Many Wall Street Analysts have commented on Essex Property Trust Inc. Essex Property Trust Inc was Upgraded by CapitalOne to ” Overweight” on May 16, 2016. Essex Property Trust Inc was Upgraded by Raymond James to ” Outperform” on May 5, 2016. Shares were Downgraded by Mizuho on May 2, 2016 to ” Neutral” and Lowered the Price Target to $ 238 from a previous price target of $249 .

Essex Property Trust Inc. (Essex) is a self-administered and self-managed real estate investment trust (REIT). The Company is engaged primarily in the ownership operation management acquisition development and redevelopment of apartment communities. As of December 31 2014 the Company owned or held an interest in 239 communities aggregating 57455 units located along the West Coast as well as four commercial buildings (totaling approximately 325200 square feet) and 12 active development projects with 2920 units in various stages of development. The Company’s apartment communities are located in Southern California which include Los Angeles Orange Riverside San Diego Santa Barbara and Ventura counties; Northern California which include the San Francisco Bay Area and Seattle Metro which include Seattle metropolitan area.

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