Essex Property Trust Inc (ESS) Shares Sold by FIL Ltd

FIL Ltd reduced its holdings in shares of Essex Property Trust Inc (NYSE:ESS) by 81.5% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,407 shares of the real estate investment trust’s stock after selling 45,777 shares during the quarter. FIL Ltd’s holdings in Essex Property Trust were worth $2,568,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of ESS. Cbre Clarion Securities LLC grew its holdings in shares of Essex Property Trust by 59.4% during the second quarter. Cbre Clarion Securities LLC now owns 1,377,419 shares of the real estate investment trust’s stock valued at $329,300,000 after buying an additional 513,352 shares during the last quarter. Millennium Management LLC grew its holdings in shares of Essex Property Trust by 43,018.5% during the second quarter. Millennium Management LLC now owns 482,496 shares of the real estate investment trust’s stock valued at $115,350,000 after buying an additional 481,377 shares during the last quarter. Daiwa Securities Group Inc. grew its holdings in shares of Essex Property Trust by 24.4% during the third quarter. Daiwa Securities Group Inc. now owns 2,094,825 shares of the real estate investment trust’s stock valued at $516,815,000 after buying an additional 411,401 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Essex Property Trust by 35.6% during the third quarter. JPMorgan Chase & Co. now owns 1,471,859 shares of the real estate investment trust’s stock valued at $363,125,000 after buying an additional 386,035 shares during the last quarter. Finally, Renaissance Technologies LLC grew its holdings in shares of Essex Property Trust by 54.9% during the second quarter. Renaissance Technologies LLC now owns 628,626 shares of the real estate investment trust’s stock valued at $150,286,000 after buying an additional 222,800 shares during the last quarter. Hedge funds and other institutional investors own 96.93% of the company’s stock.

Essex Property Trust stock opened at $262.51 on Monday. Essex Property Trust Inc has a fifty-two week low of $214.03 and a fifty-two week high of $262.59. The stock has a market cap of $17.34 billion, a P/E ratio of 21.19, a PEG ratio of 3.44 and a beta of 0.23. The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.31 and a current ratio of 1.31.

Essex Property Trust (NYSE:ESS) last released its quarterly earnings results on Monday, October 29th. The real estate investment trust reported $1.22 earnings per share for the quarter, missing the consensus estimate of $3.14 by ($1.92). Essex Property Trust had a return on equity of 5.52% and a net margin of 27.01%. The firm had revenue of $350.92 million for the quarter, compared to analysts’ expectations of $351.58 million. During the same quarter last year, the firm posted $2.98 earnings per share. As a group, research analysts anticipate that Essex Property Trust Inc will post 12.56 earnings per share for the current year.

ESS has been the subject of a number of analyst reports. Citigroup cut shares of Essex Property Trust from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $280.00 to $260.00 in a report on Friday, September 14th. Capital One Financial reiterated an “equal weight” rating on shares of Essex Property Trust in a report on Sunday, October 21st. Mizuho reiterated a “hold” rating and set a $263.00 price objective on shares of Essex Property Trust in a report on Monday, August 6th. Barclays lifted their price objective on shares of Essex Property Trust from $258.00 to $262.00 and gave the company an “overweight” rating in a report on Thursday, November 15th. Finally, Zacks Investment Research cut shares of Essex Property Trust from a “buy” rating to a “hold” rating in a report on Thursday, October 4th. Eleven research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $264.84.

In other Essex Property Trust news, insider John F. Burkart sold 834 shares of the business’s stock in a transaction dated Tuesday, October 30th. The shares were sold at an average price of $256.11, for a total value of $213,595.74. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider John D. Eudy sold 1,834 shares of the business’s stock in a transaction dated Wednesday, October 24th. The shares were sold at an average price of $252.13, for a total transaction of $462,406.42. Following the completion of the transaction, the insider now owns 11,486 shares in the company, valued at $2,895,965.18. The disclosure for this sale can be found here. Over the last quarter, insiders sold 6,429 shares of company stock worth $1,626,398. Corporate insiders own 3.40% of the company’s stock.

COPYRIGHT VIOLATION NOTICE: This news story was published by American Banking News and is the property of of American Banking News. If you are viewing this news story on another website, it was illegally copied and republished in violation of U.S. & international copyright & trademark laws. The original version of this news story can be read at https://www.americanbankingnews.com/2018/12/03/essex-property-trust-inc-ess-shares-sold-by-fil-ltd.html.

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. The Company currently has ownership interests in 248 apartment communities comprising approximately 60,000 apartment homes, excluding six properties in various stages of active development, one commercial building, preferred equity co-investments, and loan investments.

Recommended Story: How is a Moving Average Calculated?

Want to see what other hedge funds are holding ESS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Essex Property Trust Inc (NYSE:ESS).

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

Receive News & Ratings for Essex Property Trust Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Essex Property Trust and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply