Comerica Bank lifted its stake in shares of Essex Property Trust Inc (NYSE:ESS) by 32.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. 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 at the end of the most recent quarter.
A number of other institutional investors have also added to or reduced their stakes in ESS. Quantitative Systematic Strategies LLC bought a new stake in shares of Essex Property Trust during the 3rd quarter worth $807,000. LMR Partners LLP lifted its stake in 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 purchasing an additional 443 shares during the last quarter. Principal Financial Group Inc. lifted its stake in Essex Property Trust by 4.3% in the second quarter. Principal Financial Group Inc. now owns 2,247,592 shares of the real estate investment trust’s stock worth $578,237,000 after purchasing an additional 91,814 shares during the last quarter. Old Mutual Global Investors UK Ltd. bought a new stake in Essex Property Trust in the second quarter worth $2,102,000. Finally, Honeywell International Inc. lifted its stake in Essex Property Trust by 27.8% in the third quarter. Honeywell International Inc. now owns 21,692 shares of the real estate investment trust’s stock worth $5,510,000 after purchasing an additional 4,712 shares during the last quarter. Institutional investors and hedge funds own 97.26% of the company’s stock.
A number of equities analysts have issued reports on the stock. BMO Capital Markets restated a “hold” rating and issued a $257.00 price objective on shares of Essex Property Trust in a research report on Monday, November 27th. Mitsubishi UFJ Financial Group reiterated a “neutral” rating on shares of Essex Property Trust in a research report on Friday, November 3rd. Morgan Stanley boosted their price target on shares of Essex Property Trust from $260.00 to $267.00 and gave the company an “overweight” rating in a research report on Wednesday, August 16th. Royal Bank Of Canada reiterated an “outperform” rating and set a $276.00 price target (up previously from $267.00) on shares of Essex Property Trust in a research report on Sunday, August 13th. Finally, Zacks Investment Research upgraded shares of Essex Property Trust from a “hold” rating to a “buy” rating and set a $289.00 price objective on the stock in a report on Tuesday, October 10th. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $269.50.
Shares of Essex Property Trust Inc (NYSE ESS) traded down $1.03 during mid-day trading on Wednesday, reaching $241.96. 573,334 shares of the company’s stock were exchanged, compared to its average volume of 346,376. Essex Property Trust Inc has a twelve month low of $213.93 and a twelve month high of $270.04. The stock has a market capitalization of $16,263.60, a PE ratio of 21.05, a P/E/G ratio of 3.32 and a beta of 0.50. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.88.
In related news, insider Craig K. Zimmerman sold 167 shares of the firm’s stock in a transaction on Monday, September 11th. The shares were sold at an average price of $267.02, for a total transaction of $44,592.34. Following the completion of the transaction, the insider now directly owns 10,450 shares of the company’s stock, valued at $2,790,359. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Michael J. Schall sold 333 shares of the stock in a transaction on Tuesday, October 10th. The shares were sold at an average price of $257.92, for a total transaction of $85,887.36. Following the transaction, the chief executive officer now owns 45,096 shares of the company’s stock, valued at approximately $11,631,160.32. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 2,334 shares of company stock valued at $599,759. 3.30% of the stock is owned by corporate insiders.
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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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