Janus Henderson Group PLC trimmed its stake in Essex Property Trust Inc (NYSE:ESS) by 28.9% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 70,795 shares of the real estate investment trust’s stock after selling 28,809 shares during the quarter. Janus Henderson Group PLC owned approximately 0.11% of Essex Property Trust worth $17,466,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. Piedmont Investment Advisors LLC bought a new position in shares of Essex Property Trust during the 2nd quarter worth approximately $185,000. Aperio Group LLC boosted its stake in shares of Essex Property Trust by 7.6% during the 2nd quarter. Aperio Group LLC now owns 31,186 shares of the real estate investment trust’s stock worth $7,456,000 after acquiring an additional 2,203 shares during the period. TD Asset Management Inc. boosted its stake in shares of Essex Property Trust by 1.7% during the 2nd quarter. TD Asset Management Inc. now owns 19,605 shares of the real estate investment trust’s stock worth $4,687,000 after acquiring an additional 336 shares during the period. Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of Essex Property Trust by 606.1% during the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 20,125 shares of the real estate investment trust’s stock worth $4,811,000 after acquiring an additional 17,275 shares during the period. Finally, Bbva Compass Bancshares Inc. boosted its stake in shares of Essex Property Trust by 20.7% during the 2nd quarter. Bbva Compass Bancshares Inc. now owns 1,354 shares of the real estate investment trust’s stock worth $324,000 after acquiring an additional 232 shares during the period. Hedge funds and other institutional investors own 96.93% of the company’s stock.
Several brokerages have recently commented on ESS. Barclays lifted their target price on Essex Property Trust from $258.00 to $262.00 and gave the stock an “overweight” rating in a research note on Thursday, November 15th. Capital One Financial reiterated an “equal weight” rating on shares of Essex Property Trust in a research note on Sunday, October 21st. ValuEngine upgraded Essex Property Trust from a “hold” rating to a “buy” rating in a research note on Wednesday, November 21st. Stifel Nicolaus reiterated a “buy” rating and set a $275.00 target price on shares of Essex Property Trust in a research note on Wednesday, October 31st. Finally, Jefferies Financial Group upgraded Essex Property Trust from a “hold” rating to a “buy” rating and lifted their target price for the stock from $262.00 to $297.00 in a research note on Friday, November 30th. Eleven investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $264.84.
NYSE:ESS opened at $263.66 on Friday. The company has a market cap of $17.55 billion, a P/E ratio of 21.44, a PEG ratio of 3.49 and a beta of 0.23. The company has a quick ratio of 1.31, a current ratio of 1.31 and a debt-to-equity ratio of 0.88. Essex Property Trust Inc has a 1-year low of $214.03 and a 1-year high of $267.41.
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 Thomson Reuters’ consensus estimate of $3.14 by ($1.92). The firm had revenue of $350.92 million for the quarter, compared to analyst estimates of $351.58 million. Essex Property Trust had a return on equity of 5.52% and a net margin of 27.01%. During the same period in the previous year, the business posted $2.98 earnings per share. As a group, equities research analysts forecast that Essex Property Trust Inc will post 12.56 earnings per share for the current year.
In other Essex Property Trust news, CEO Michael J. Schall sold 3,012 shares of Essex Property Trust stock in a transaction on Wednesday, October 24th. The stock was sold at an average price of $252.63, for a total value of $760,921.56. Following the completion of the transaction, the chief executive officer now directly owns 47,997 shares of the company’s stock, valued at approximately $12,125,482.11. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP John D. Eudy sold 166 shares of Essex Property Trust stock in a transaction on Monday, November 12th. The shares were sold at an average price of $254.03, for a total value of $42,168.98. Following the completion of the transaction, the executive vice president now directly owns 9,818 shares of the company’s stock, valued at $2,494,066.54. The disclosure for this sale can be found here. Over the last three months, insiders have sold 6,429 shares of company stock valued at $1,626,398. 3.30% of the stock is currently owned by insiders.
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Essex Property Trust Company 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.
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