Victory Capital Management Inc. decreased its stake in shares of Essex Property Trust Inc. (NYSE:ESS) by 2.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 275,362 shares of the real estate investment trust’s stock after selling 7,940 shares during the period. Victory Capital Management Inc. owned approximately 0.42% of Essex Property Trust worth $61,323,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. Arizona State Retirement System raised its stake in Essex Property Trust by 1.5% in the first quarter. Arizona State Retirement System now owns 27,300 shares of the real estate investment trust’s stock valued at $6,384,000 after buying an additional 400 shares during the last quarter. Royal Bank of Canada raised its stake in Essex Property Trust by 459.6% in the first quarter. Royal Bank of Canada now owns 156,385 shares of the real estate investment trust’s stock valued at $36,572,000 after buying an additional 128,440 shares during the last quarter. Squarepoint Ops LLC acquired a new stake in Essex Property Trust during the first quarter valued at about $628,000. Phocas Financial Corp. raised its stake in Essex Property Trust by 0.8% in the first quarter. Phocas Financial Corp. now owns 4,024 shares of the real estate investment trust’s stock valued at $941,000 after buying an additional 33 shares during the last quarter. Finally, First Republic Investment Management Inc. raised its stake in Essex Property Trust by 3.9% in the first quarter. First Republic Investment Management Inc. now owns 3,547 shares of the real estate investment trust’s stock valued at $829,000 after buying an additional 133 shares during the last quarter. 98.05% of the stock is owned by hedge funds and other institutional investors.

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

Essex Property Trust Inc. (NYSE:ESS) traded up 1.27% during mid-day trading on Monday, reaching $215.54. 236,191 shares of the company’s stock were exchanged. The company has a market cap of $14.12 billion, a PE ratio of 47.83 and a beta of 0.54. Essex Property Trust Inc. has a 52-week low of $191.25 and a 52-week high of $244.71. The stock has a 50-day moving average price of $212.24 and a 200 day moving average price of $221.49.

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

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ESS has been the subject of a number of recent analyst reports. Canaccord Genuity reduced their price target on shares of Essex Property Trust from $246.00 to $219.00 and set a “hold” rating on the stock in a research report on Monday, October 31st. Cantor Fitzgerald restated a “buy” rating and issued a $252.00 price target on shares of Essex Property Trust in a research report on Friday, October 28th. BTIG Research began coverage on shares of Essex Property Trust in a research report on Thursday, August 25th. They issued a “buy” rating and a $260.00 price target on the stock. Jefferies Group raised their price target on shares of Essex Property Trust from $209.00 to $210.00 and gave the stock a “hold” rating in a research report on Wednesday, August 10th. Finally, Barclays PLC restated a “hold” rating and issued a $232.00 price target on shares of Essex Property Trust in a research report on Tuesday, November 8th. Thirteen investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Essex Property Trust presently has a consensus rating of “Hold” and a consensus price target of $242.25.

In other Essex Property Trust news, insider John D. Eudy sold 2,500 shares of the firm’s stock in a transaction on Thursday, September 1st. The shares were sold at an average price of $226.41, for a total transaction of $566,025.00. Following the completion of the transaction, the insider now directly owns 9,268 shares of the company’s stock, valued at approximately $2,098,367.88. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 3.50% of the stock is currently owned by insiders.

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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