Northwestern Mutual Investment Management Company LLC cut its position in shares of Essex Property Trust Inc. (NYSE:ESS) by 18.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 76,329 shares of the real estate investment trust’s stock after selling 17,445 shares during the period. Northwestern Mutual Investment Management Company LLC owned 0.12% of Essex Property Trust worth $17,410,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. AXA boosted its stake in Essex Property Trust by 1.5% in the first quarter. AXA now owns 4,345 shares of the real estate investment trust’s stock worth $1,016,000 after buying an additional 63 shares in the last quarter. HBK Investments L P acquired a new stake in Essex Property Trust during the first quarter worth $934,000. National Pension Service boosted its stake in Essex Property Trust by 4.4% in the first quarter. National Pension Service now owns 42,046 shares of the real estate investment trust’s stock worth $9,833,000 after buying an additional 1,787 shares in the last quarter. Legal & General Group Plc boosted its stake in Essex Property Trust by 3.1% in the first quarter. Legal & General Group Plc now owns 400,591 shares of the real estate investment trust’s stock worth $93,674,000 after buying an additional 12,029 shares in the last quarter. Finally, Envestnet Asset Management Inc. boosted its stake in Essex Property Trust by 5.8% in the first quarter. Envestnet Asset Management Inc. now owns 38,026 shares of the real estate investment trust’s stock worth $8,893,000 after buying an additional 2,072 shares in the last quarter. Hedge funds and other institutional investors own 99.17% of the company’s stock.

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

Shares of Essex Property Trust Inc. (NYSE:ESS) opened at 215.33 on Monday. The stock has a market cap of $14.11 billion, a price-to-earnings ratio of 47.79 and a beta of 0.54. The stock’s 50 day moving average price is $214.74 and its 200 day moving average price is $222.30. Essex Property Trust Inc. has a 52 week low of $191.25 and a 52 week high of $244.71.

Essex Property Trust (NYSE:ESS) last issued its earnings results on Thursday, October 27th. The real estate investment trust reported $2.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.76 by $0.05. The business had revenue of $329.17 million for the quarter, compared to analyst estimates of $325.44 million. Essex Property Trust had a net margin of 23.54% and a return on equity of 4.76%. The company’s revenue for the quarter was up 8.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.49 EPS. Equities research analysts anticipate that Essex Property Trust Inc. will post $11.04 EPS for the current fiscal year.

A number of analysts have weighed in on ESS shares. BTIG Research started coverage on Essex Property Trust in a research note on Thursday, August 25th. They issued a “buy” rating and a $260.00 price target on the stock. Barclays PLC lifted their target price on Essex Property Trust from $242.00 to $243.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 19th. Cantor Fitzgerald reiterated a “buy” rating and set a $252.00 target price on shares of Essex Property Trust in a research report on Friday, October 28th. Canaccord Genuity reiterated a “hold” rating and set a $239.00 target price (down previously from $246.00) on shares of Essex Property Trust in a research report on Monday, August 1st. Finally, Jefferies Group lifted their target price on Essex Property Trust from $209.00 to $210.00 and gave the stock a “hold” rating in a research report on Wednesday, August 10th. Thirteen analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $242.93.

In related news, insider John D. Eudy sold 2,500 shares of the stock in a transaction dated Thursday, September 1st. The shares were sold at an average price of $226.41, for a total transaction of $566,025.00. Following the sale, the insider now owns 9,268 shares in the company, valued at $2,098,367.88. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 3.50% of the company’s stock.

Essex Property Trust Company Profile

Essex Property Trust, Inc is a self-administered and self-managed real estate investment trust (REIT). The Company owns all of its interest in its real estate and other investments directly or indirectly through Essex Portfolio, L.P. (the Operating Partnership). The Company is engaged in the ownership, operation, management, acquisition, development and redevelopment of apartment communities.

5 Day Chart for NYSE:ESS

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