Norinchukin Bank The increased its position in shares of Essex Property Trust, Inc. (NYSE:ESS) by 6.8% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 4,551 shares of the real estate investment trust’s stock after purchasing an additional 291 shares during the quarter. Norinchukin Bank The’s holdings in Essex Property Trust were worth $1,171,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently modified their holdings of ESS. First Trust Advisors LP raised its holdings in Essex Property Trust by 79.8% during the first quarter. First Trust Advisors LP now owns 40,932 shares of the real estate investment trust’s stock worth $9,477,000 after purchasing an additional 18,173 shares during the last quarter. Advisors Asset Management Inc. raised its holdings in Essex Property Trust by 118.0% during the first quarter. Advisors Asset Management Inc. now owns 654 shares of the real estate investment trust’s stock worth $151,000 after purchasing an additional 354 shares during the last quarter. US Bancorp DE raised its holdings in Essex Property Trust by 7.4% during the first quarter. US Bancorp DE now owns 5,534 shares of the real estate investment trust’s stock worth $1,282,000 after purchasing an additional 380 shares during the last quarter. UBS Asset Management Americas Inc. raised its holdings in Essex Property Trust by 13.1% during the first quarter. UBS Asset Management Americas Inc. now owns 272,490 shares of the real estate investment trust’s stock worth $63,090,000 after purchasing an additional 31,467 shares during the last quarter. Finally, Quantitative Investment Management LLC acquired a new position in Essex Property Trust during the first quarter worth $2,268,000. 99.43% of the stock is owned by hedge funds and other institutional investors.

In other news, insider Craig K. Zimmerman sold 167 shares of the company’s stock in a transaction on Monday, September 11th. The shares were sold at an average price of $267.02, for a total value of $44,592.34. Following the transaction, the insider now directly owns 10,450 shares of the company’s stock, valued at $2,790,359. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Byron A. Scordelis sold 6,265 shares of the company’s stock in a transaction on Thursday, August 24th. The stock was sold at an average price of $267.39, for a total transaction of $1,675,198.35. Following the completion of the transaction, the director now directly owns 4,986 shares in the company, valued at $1,333,206.54. The disclosure for this sale can be found here. Insiders sold 11,314 shares of company stock worth $2,999,949 over the last ninety days. 3.30% of the stock is currently owned by company insiders.

COPYRIGHT VIOLATION WARNING: This story was reported by The Cerbat Gem and is the property of of The Cerbat Gem. If you are accessing this story on another publication, it was stolen and republished in violation of United States and international trademark & copyright laws. The original version of this story can be accessed at https://www.thecerbatgem.com/2017/09/18/norinchukin-bank-the-raises-position-in-essex-property-trust-inc-ess.html.

ESS has been the subject of several research reports. BMO Capital Markets set a $255.00 price objective on Essex Property Trust and gave the stock a “hold” rating in a report on Thursday, May 25th. Jefferies Group LLC reissued a “hold” rating and set a $234.00 price target on shares of Essex Property Trust in a research report on Tuesday, May 30th. Evercore ISI downgraded Essex Property Trust from an “in-line” rating to an “underperform” rating and set a $261.00 price target for the company. in a research report on Monday, June 12th. BidaskClub raised Essex Property Trust from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, June 20th. Finally, BTIG Research downgraded Essex Property Trust from a “buy” rating to a “neutral” rating in a research report on Friday, June 30th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Hold” and an average target price of $268.07.

Shares of Essex Property Trust, Inc. (NYSE ESS) opened at 261.99 on Monday. The stock has a market cap of $17.29 billion, a P/E ratio of 33.69 and a beta of 0.53. Essex Property Trust, Inc. has a 52-week low of $200.01 and a 52-week high of $270.04. The firm’s 50-day moving average price is $264.05 and its 200-day moving average price is $252.14.

Essex Property Trust (NYSE:ESS) last posted its quarterly earnings results on Thursday, July 27th. The real estate investment trust reported $2.97 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.92 by $0.05. Essex Property Trust had a net margin of 38.33% and a return on equity of 8.03%. The business had revenue of $339.06 million for the quarter, compared to the consensus estimate of $336.17 million. During the same period in the prior year, the business posted $2.74 earnings per share. On average, equities research analysts forecast that Essex Property Trust, Inc. will post $5.89 earnings per share for the current fiscal year.

About Essex Property Trust

Essex Property Trust, Inc is a self-administered and self-managed real estate investment trust. The Company is engaged primarily in the ownership, operation, management, acquisition, development and redevelopment of predominantly apartment communities, located along the West Coast. Its segments include Southern California, Northern California, Seattle Metro and Other real estate assets.

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

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