Old Mutual Global Investors UK Ltd. Buys Shares of 8,171 Essex Property Trust, Inc. (ESS)

Old Mutual Global Investors UK Ltd. purchased a new stake in shares of Essex Property Trust, Inc. (NYSE:ESS) in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 8,171 shares of the real estate investment trust’s stock, valued at approximately $2,102,000.

Several other large investors also recently modified their holdings of the stock. Legal & General Group Plc lifted its holdings in shares of Essex Property Trust by 7.1% in the first quarter. Legal & General Group Plc now owns 495,852 shares of the real estate investment trust’s stock worth $114,806,000 after buying an additional 33,007 shares in the last quarter. BlueCrest Capital Management Ltd purchased a new stake in shares of Essex Property Trust in the first quarter worth about $438,000. LMR Partners LLP lifted its holdings in shares of Essex Property Trust by 15.7% in the second quarter. LMR Partners LLP now owns 3,263 shares of the real estate investment trust’s stock worth $840,000 after buying an additional 443 shares in the last quarter. Comerica Bank lifted its holdings in shares of Essex Property Trust by 3.0% in the first quarter. Comerica Bank now owns 18,878 shares of the real estate investment trust’s stock worth $4,558,000 after buying an additional 555 shares in the last quarter. Finally, NN Investment Partners Holdings N.V. increased its position in shares of Essex Property Trust by 4.0% in the second quarter. NN Investment Partners Holdings N.V. now owns 240,093 shares of the real estate investment trust’s stock worth $61,769,000 after purchasing an additional 9,300 shares during the last quarter. 99.55% of the stock is currently owned by institutional investors.

A number of research analysts have commented on ESS shares. Canaccord Genuity set a $270.00 price objective on Essex Property Trust and gave the company a “hold” rating in a research note on Monday, July 31st. Morgan Stanley raised their price target on Essex Property Trust from $260.00 to $267.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 16th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $276.00 price target (up previously from $267.00) on shares of Essex Property Trust in a research note on Sunday, August 13th. Stifel Nicolaus assumed coverage on Essex Property Trust in a research note on Friday, September 1st. They issued a “buy” rating and a $294.00 price target for the company. Finally, Cantor Fitzgerald reissued a “buy” rating and set a $278.00 price objective on shares of Essex Property Trust in a research report on Thursday, July 27th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $268.07.

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In related news, Director Byron A. Scordelis sold 6,265 shares of the stock in a transaction on Thursday, August 24th. The stock was sold at an average price of $267.39, for a total value of $1,675,198.35. Following the transaction, the director now directly owns 4,986 shares of the company’s stock, valued at approximately $1,333,206.54. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Craig K. Zimmerman sold 167 shares of the stock in a transaction on Monday, September 11th. The shares were sold at an average price of $267.02, for a total value of $44,592.34. Following the completion of the sale, the insider now owns 10,450 shares of the company’s stock, valued at $2,790,359. The disclosure for this sale can be found here. In the last ninety days, insiders sold 11,314 shares of company stock worth $2,999,949. 3.30% of the stock is owned by corporate insiders.

Shares of Essex Property Trust, Inc. (NYSE:ESS) opened at 261.99 on Friday. Essex Property Trust, Inc. has a 1-year low of $200.01 and a 1-year high of $270.04. The company has a market capitalization of $17.29 billion, a P/E ratio of 33.69 and a beta of 0.53. The firm’s 50 day moving average price is $264.05 and its 200-day moving average price is $252.14.

Essex Property Trust (NYSE:ESS) last released its quarterly earnings results on Thursday, July 27th. The real estate investment trust reported $2.97 earnings per share for the quarter, topping analysts’ consensus estimates of $2.92 by $0.05. The business had revenue of $339.06 million for the quarter, compared to analysts’ expectations of $336.17 million. Essex Property Trust had a return on equity of 8.03% and a net margin of 38.33%. During the same quarter in the prior year, the firm posted $2.74 EPS. Analysts expect that Essex Property Trust, Inc. will post $5.89 EPS for the current year.

Essex Property Trust Company 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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