Westpac Banking Corp lessened its stake in Essex Property Trust Inc (NYSE:ESS) by 5.7% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 89,790 shares of the real estate investment trust’s stock after selling 5,410 shares during the period. Westpac Banking Corp owned 0.14% of Essex Property Trust worth $26,212,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently bought and sold shares of ESS. FMR LLC grew its stake in Essex Property Trust by 22.4% in the first quarter. FMR LLC now owns 2,303,608 shares of the real estate investment trust’s stock valued at $666,295,000 after purchasing an additional 420,856 shares during the last quarter. Lido Advisors LLC purchased a new position in Essex Property Trust in the first quarter valued at about $48,296,000. Geode Capital Management LLC grew its stake in Essex Property Trust by 9.1% in the fourth quarter. Geode Capital Management LLC now owns 1,082,222 shares of the real estate investment trust’s stock valued at $265,001,000 after purchasing an additional 90,392 shares during the last quarter. California Public Employees Retirement System grew its stake in Essex Property Trust by 25.2% in the first quarter. California Public Employees Retirement System now owns 399,601 shares of the real estate investment trust’s stock valued at $115,581,000 after purchasing an additional 80,501 shares during the last quarter. Finally, Janus Henderson Group PLC grew its stake in shares of Essex Property Trust by 149.5% during the first quarter. Janus Henderson Group PLC now owns 126,061 shares of the real estate investment trust’s stock worth $36,461,000 after acquiring an additional 75,534 shares during the last quarter. Institutional investors own 97.65% of the company’s stock.

A number of equities research analysts have recently weighed in on ESS shares. Zacks Investment Research lowered Essex Property Trust from a “buy” rating to a “hold” rating in a research note on Thursday, May 16th. BMO Capital Markets set a $310.00 price target on Essex Property Trust and gave the stock a “hold” rating in a research note on Wednesday, July 24th. KeyCorp boosted their price target on Essex Property Trust from $311.00 to $320.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 31st. Stifel Nicolaus boosted their price target on Essex Property Trust from $300.00 to $325.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. Finally, Morgan Stanley boosted their price target on Essex Property Trust from $292.00 to $320.00 and gave the stock an “overweight” rating in a research note on Thursday, June 27th. Nine investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $294.17.

NYSE:ESS traded up $0.52 during trading hours on Tuesday, reaching $312.80. The company had a trading volume of 42,099 shares, compared to its average volume of 309,237. Essex Property Trust Inc has a 1-year low of $234.99 and a 1-year high of $312.90. The company has a market capitalization of $20.21 billion, a price-to-earnings ratio of 24.87, a PEG ratio of 3.83 and a beta of 0.37. The stock has a 50 day moving average price of $300.80. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.92 and a current ratio of 0.92.

Essex Property Trust (NYSE:ESS) last announced its quarterly earnings results on Wednesday, July 24th. The real estate investment trust reported $1.40 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $3.26 by ($1.86). Essex Property Trust had a net margin of 28.83% and a return on equity of 6.43%. The company had revenue of $361.64 million during the quarter, compared to analyst estimates of $358.15 million. During the same period in the previous year, the firm posted $3.14 earnings per share. On average, equities analysts anticipate that Essex Property Trust Inc will post 13.29 earnings per share for the current year.

About Essex Property Trust

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. Essex currently has ownership interests in 245 apartment communities with an additional 6 properties in various stages of active development.

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

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