Exxonmobil Investment Management Inc. TX reduced its position in shares of Essex Property Trust Inc. (NYSE:ESS) by 1.3% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,723 shares of the real estate investment trust’s stock after selling 214 shares during the period. Exxonmobil Investment Management Inc. TX’s holdings in Essex Property Trust were worth $3,724,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Washington Trust Bank raised its position in shares of Essex Property Trust by 1.3% in the third quarter. Washington Trust Bank now owns 472 shares of the real estate investment trust’s stock worth $105,000 after buying an additional 6 shares during the last quarter. Hanson McClain Inc. raised its position in shares of Essex Property Trust by 0.5% in the second quarter. Hanson McClain Inc. now owns 608 shares of the real estate investment trust’s stock worth $139,000 after buying an additional 3 shares during the last quarter. Checchi Capital Advisers LLC raised its position in shares of Essex Property Trust by 19.3% in the second quarter. Checchi Capital Advisers LLC now owns 680 shares of the real estate investment trust’s stock worth $155,000 after buying an additional 110 shares during the last quarter. Global X Management Co. LLC raised its position in shares of Essex Property Trust by 110.2% in the second quarter. Global X Management Co. LLC now owns 763 shares of the real estate investment trust’s stock worth $174,000 after buying an additional 400 shares during the last quarter. Finally, First Allied Advisory Services Inc. purchased a new position in shares of Essex Property Trust during the second quarter worth approximately $211,000. Institutional investors and hedge funds own 98.05% of the company’s stock.

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

Shares of Essex Property Trust Inc. (NYSE:ESS) traded up 1.19% during trading on Monday, reaching $215.36. The company’s stock had a trading volume of 375,506 shares. Essex Property Trust Inc. has a 12 month low of $191.25 and a 12 month high of $244.71. The company’s 50 day moving average price is $212.24 and its 200 day moving average price is $221.49. The firm has a market cap of $14.11 billion, a PE ratio of 47.79 and a beta of 0.54.

Essex Property Trust (NYSE:ESS) last released its earnings results on Thursday, October 27th. The real estate investment trust reported $2.81 earnings per share for the quarter, beating analysts’ consensus estimates of $2.76 by $0.05. The firm earned $329.17 million during the quarter, compared to the consensus estimate of $325.44 million. Essex Property Trust had a return on equity of 4.76% and a net margin of 23.54%. The company’s revenue was up 8.1% compared to the same quarter last year. During the same period in the prior year, the company posted $2.49 EPS. On average, equities analysts predict that Essex Property Trust Inc. will post $11.04 earnings per share for the current year.

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Several research firms have issued reports on ESS. Bank of America Corp. lowered Essex Property Trust from a “buy” rating to a “neutral” rating and set a $232.00 price objective for the company. in a research note on Wednesday, November 23rd. Evercore ISI upgraded Essex Property Trust from a “hold” rating to a “buy” rating and increased their price objective for the stock from $234.00 to $238.00 in a research note on Monday. Barclays PLC reiterated a “hold” rating and set a $232.00 price objective on shares of Essex Property Trust in a research note on Tuesday, November 8th. Jefferies Group increased their price objective on Essex Property Trust from $209.00 to $210.00 and gave the stock a “hold” rating in a research note on Wednesday, August 10th. Finally, Canaccord Genuity reiterated a “hold” rating and set a $239.00 price objective (down from $246.00) on shares of Essex Property Trust in a research note on Monday, August 1st. Thirteen research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $241.94.

In other news, insider John D. Eudy sold 2,500 shares of the company’s stock in a transaction on Thursday, September 1st. The stock was sold at an average price of $226.41, for a total transaction of $566,025.00. Following the completion of the sale, the insider now directly owns 9,268 shares in the company, valued at approximately $2,098,367.88. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 3.50% of the company’s stock.

About Essex Property Trust

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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