Andra AP fonden cut its stake in shares of Essex Property Trust, Inc. (NYSE:ESS) by 7.3% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 16,500 shares of the real estate investment trust’s stock after selling 1,300 shares during the period. Andra AP fonden’s holdings in Essex Property Trust were worth $4,245,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of the stock. Muzinich & Co. Inc. boosted its position in shares of Essex Property Trust by 246.5% in the first quarter. Muzinich & Co. Inc. now owns 551 shares of the real estate investment trust’s stock valued at $128,000 after buying an additional 392 shares during the last quarter. Advisors Asset Management Inc. boosted its position in shares of Essex Property Trust by 118.0% in the first quarter. Advisors Asset Management Inc. now owns 654 shares of the real estate investment trust’s stock valued at $151,000 after buying an additional 354 shares during the last quarter. FNY Partners Fund LP purchased a new position in shares of Essex Property Trust during the first quarter valued at approximately $165,000. Perigon Wealth Management LLC boosted its position in shares of Essex Property Trust by 835.2% in the first quarter. Perigon Wealth Management LLC now owns 823 shares of the real estate investment trust’s stock valued at $192,000 after buying an additional 735 shares during the last quarter. Finally, Warren Averett Asset Management LLC purchased a new position in shares of Essex Property Trust during the first quarter valued at approximately $201,000. Institutional investors own 99.55% of the company’s stock.

Shares of Essex Property Trust, Inc. (NYSE ESS) opened at 264.64 on Wednesday. The firm’s 50-day moving average is $261.58 and its 200-day moving average is $248.50. Essex Property Trust, Inc. has a 12-month low of $200.01 and a 12-month high of $268.97. The company has a market capitalization of $17.46 billion, a price-to-earnings ratio of 34.03 and a beta of 0.52.

Essex Property Trust (NYSE:ESS) last released its quarterly earnings results on Thursday, July 27th. The real estate investment trust reported $2.97 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.92 by $0.05. Essex Property Trust had a return on equity of 8.03% and a net margin of 38.33%. The company had revenue of $339.06 million for the quarter, compared to analyst estimates of $336.17 million. During the same quarter in the prior year, the firm posted $2.74 EPS. On average, equities analysts predict that Essex Property Trust, Inc. will post $5.95 EPS for the current year.

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Several equities analysts have recently commented on the stock. Jefferies Group LLC restated a “hold” rating and issued a $234.00 target price on shares of Essex Property Trust in a research report on Tuesday, May 30th. Royal Bank Of Canada reiterated a “buy” rating and set a $267.00 price objective on shares of Essex Property Trust in a research report on Sunday, July 16th. Zacks Investment Research upgraded shares of Essex Property Trust from a “hold” rating to a “buy” rating and set a $283.00 price objective for the company in a research report on Tuesday, July 11th. Mizuho cut shares of Essex Property Trust from a “buy” rating to a “neutral” rating and set a $283.00 price objective for the company. in a research report on Monday, July 31st. Finally, Cantor Fitzgerald reiterated a “buy” rating and set a $269.00 price objective on shares of Essex Property Trust in a research report on Wednesday, May 3rd. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $265.54.

In related news, insider Michael J. Schall sold 333 shares of the stock in a transaction on Monday, July 10th. The stock was sold at an average price of $256.06, for a total transaction of $85,267.98. Following the sale, the insider now owns 45,096 shares in the company, valued at approximately $11,547,281.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Gary P. Martin sold 1,000 shares of the stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $261.94, for a total value of $261,940.00. Following the sale, the director now owns 6,236 shares in the company, valued at approximately $1,633,457.84. The disclosure for this sale can be found here. Insiders have sold a total of 11,230 shares of company stock worth $2,977,186 in the last 90 days. 3.30% 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. 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.

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

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