Comerica Bank Raises Holdings in Essex Property Trust, Inc. (ESS)

Comerica Bank boosted its holdings in shares of Essex Property Trust, Inc. (NYSE:ESS) by 32.5% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 24,482 shares of the real estate investment trust’s stock after purchasing an additional 6,002 shares during the period. Comerica Bank’s holdings in Essex Property Trust were worth $6,385,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of ESS. DekaBank Deutsche Girozentrale lifted its stake in shares of Essex Property Trust by 19.9% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 5,362 shares of the real estate investment trust’s stock worth $1,506,000 after acquiring an additional 891 shares during the period. Rhumbline Advisers lifted its stake in shares of Essex Property Trust by 6.7% in the 3rd quarter. Rhumbline Advisers now owns 136,981 shares of the real estate investment trust’s stock worth $34,797,000 after acquiring an additional 8,648 shares during the period. Los Angeles Capital Management & Equity Research Inc. acquired a new stake in shares of Essex Property Trust in the 3rd quarter worth $4,556,000. Toronto Dominion Bank lifted its stake in shares of Essex Property Trust by 12.6% in the third quarter. Toronto Dominion Bank now owns 25,015 shares of the real estate investment trust’s stock valued at $6,354,000 after purchasing an additional 2,794 shares during the period. Finally, New York State Common Retirement Fund lifted its stake in shares of Essex Property Trust by 1.7% in the third quarter. New York State Common Retirement Fund now owns 146,200 shares of the real estate investment trust’s stock valued at $37,139,000 after purchasing an additional 2,400 shares during the period. 99.90% of the stock is currently owned by institutional investors.

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In related news, CEO Michael J. Schall sold 334 shares of the business’s stock in a transaction that occurred on Friday, November 10th. The shares were sold at an average price of $255.50, for a total value of $85,337.00. Following the completion of the sale, the chief executive officer now directly owns 45,097 shares in the company, valued at $11,522,283.50. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Craig K. Zimmerman sold 167 shares of the business’s stock in a transaction that occurred on Friday, November 10th. The shares were sold at an average price of $255.50, for a total transaction of $42,668.50. Following the completion of the sale, the insider now owns 10,450 shares of the company’s stock, valued at $2,669,975. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 8,599 shares of company stock valued at $2,274,958. 3.30% of the stock is owned by insiders.

Several analysts recently commented on the stock. Royal Bank Of Canada reiterated an “outperform” rating and issued a $276.00 price objective (up previously from $267.00) on shares of Essex Property Trust in a research note on Sunday, August 13th. Stifel Nicolaus assumed coverage on shares of Essex Property Trust in a research note on Friday, September 1st. They issued a “buy” rating and a $294.00 price objective for the company. Canaccord Genuity set a $270.00 price objective on shares of Essex Property Trust and gave the company a “hold” rating in a research note on Monday, July 31st. Barclays PLC reiterated a “buy” rating and issued a $283.00 price objective on shares of Essex Property Trust in a research note on Thursday, October 19th. Finally, Mizuho cut shares of Essex Property Trust from a “neutral” rating to an “underperform” rating and set a $250.00 price objective for the company. in a research note on Monday, November 6th. Three analysts have rated the stock with a sell rating, ten have issued a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $266.87.

Shares of Essex Property Trust, Inc. (ESS) opened at $250.76 on Tuesday. Essex Property Trust, Inc. has a twelve month low of $208.92 and a twelve month high of $270.04. The stock has a market cap of $16,550.00, a P/E ratio of 21.44, a P/E/G ratio of 3.39 and a beta of 0.54. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.83 and a quick ratio of 0.83.

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.

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

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