Cwm LLC lifted its stake in shares of Essex Property Trust, Inc. (NYSE:ESS – Free Report) by 36.4% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,582 shares of the real estate investment trust’s stock after buying an additional 422 shares during the quarter. Cwm LLC’s holdings in Essex Property Trust were worth $431,000 at the end of the most recent reporting period.
Several other institutional investors have also modified their holdings of ESS. Lindbrook Capital LLC lifted its position in shares of Essex Property Trust by 111.5% during the 4th quarter. Lindbrook Capital LLC now owns 110 shares of the real estate investment trust’s stock worth $27,000 after buying an additional 58 shares during the last quarter. Venturi Wealth Management LLC lifted its position in shares of Essex Property Trust by 112.3% during the 1st quarter. Venturi Wealth Management LLC now owns 138 shares of the real estate investment trust’s stock worth $34,000 after buying an additional 73 shares during the last quarter. Vima LLC purchased a new stake in Essex Property Trust in the 4th quarter valued at $40,000. Larson Financial Group LLC raised its position in Essex Property Trust by 30,700.0% in the 1st quarter. Larson Financial Group LLC now owns 308 shares of the real estate investment trust’s stock valued at $75,000 after purchasing an additional 307 shares during the last quarter. Finally, Versant Capital Management Inc raised its position in Essex Property Trust by 15,050.0% in the 2nd quarter. Versant Capital Management Inc now owns 303 shares of the real estate investment trust’s stock valued at $82,000 after purchasing an additional 301 shares during the last quarter. Hedge funds and other institutional investors own 96.51% of the company’s stock.
Analyst Ratings Changes
Several analysts recently commented on ESS shares. Stifel Nicolaus upped their price target on shares of Essex Property Trust from $267.00 to $268.00 and gave the company a “hold” rating in a research report on Wednesday, July 31st. Evercore ISI upped their price target on shares of Essex Property Trust from $254.00 to $260.00 and gave the company an “in-line” rating in a research report on Tuesday, July 9th. Wedbush upped their price target on shares of Essex Property Trust from $264.00 to $301.00 and gave the company a “neutral” rating in a research report on Monday, August 5th. Scotiabank upped their price target on shares of Essex Property Trust from $285.00 to $290.00 and gave the company a “sector outperform” rating in a research report on Wednesday, August 7th. Finally, Wells Fargo & Company boosted their price objective on shares of Essex Property Trust from $232.00 to $269.00 and gave the company an “equal weight” rating in a research note on Friday, May 31st. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $266.75.
Check Out Our Latest Report on ESS
Essex Property Trust Stock Performance
NYSE:ESS opened at $284.60 on Wednesday. The company has a quick ratio of 3.19, a current ratio of 1.62 and a debt-to-equity ratio of 1.11. Essex Property Trust, Inc. has a fifty-two week low of $203.85 and a fifty-two week high of $292.37. The stock has a market cap of $18.27 billion, a PE ratio of 34.79, a price-to-earnings-growth ratio of 3.96 and a beta of 0.86. The firm’s fifty day simple moving average is $277.97 and its 200-day simple moving average is $255.54.
Essex Property Trust (NYSE:ESS – Get Free Report) last issued its quarterly earnings data on Tuesday, July 30th. The real estate investment trust reported $1.45 EPS for the quarter, missing analysts’ consensus estimates of $3.85 by ($2.40). The business had revenue of $442.36 million during the quarter, compared to analyst estimates of $433.26 million. Essex Property Trust had a net margin of 30.31% and a return on equity of 9.14%. During the same period in the previous year, the company posted $3.77 earnings per share. Analysts expect that Essex Property Trust, Inc. will post 15.53 earnings per share for the current fiscal year.
Insider Activity at Essex Property Trust
In related news, CEO Angela L. Kleiman sold 3,780 shares of the stock in a transaction dated Friday, June 21st. The shares were sold at an average price of $278.27, for a total value of $1,051,860.60. Following the sale, the chief executive officer now directly owns 9,494 shares of the company’s stock, valued at approximately $2,641,895.38. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other Essex Property Trust news, Director Keith R. Guericke sold 10,000 shares of the company’s stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $274.57, for a total value of $2,745,700.00. Following the transaction, the director now directly owns 16,118 shares in the company, valued at approximately $4,425,519.26. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Angela L. Kleiman sold 3,780 shares of the company’s stock in a transaction dated Friday, June 21st. The shares were sold at an average price of $278.27, for a total transaction of $1,051,860.60. Following the completion of the transaction, the chief executive officer now owns 9,494 shares in the company, valued at $2,641,895.38. The disclosure for this sale can be found here. 3.80% of the stock is owned by corporate insiders.
Essex Property Trust Profile
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 252 apartment communities comprising approximately 62,000 apartment homes with an additional property in active development.
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