Cohen & Steers Inc. lowered its stake in shares of Essex Property Trust Inc (NYSE:ESS) by 30.8% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,733,466 shares of the real estate investment trust’s stock after selling 1,664,332 shares during the quarter. Essex Property Trust comprises 2.6% of Cohen & Steers Inc.’s portfolio, making the stock its 9th largest position. Cohen & Steers Inc. owned approximately 5.65% of Essex Property Trust worth $948,412,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Candriam Luxembourg S.C.A. grew its stake in Essex Property Trust by 4.4% during the second quarter. Candriam Luxembourg S.C.A. now owns 5,093 shares of the real estate investment trust’s stock valued at $1,310,000 after acquiring an additional 214 shares in the last quarter. IFP Advisors Inc increased its position in Essex Property Trust by 0.3% during the 2nd quarter. IFP Advisors Inc now owns 1,575 shares of the real estate investment trust’s stock valued at $405,000 after purchasing an additional 4 shares during the period. Retirement Systems of Alabama increased its position in Essex Property Trust by 0.4% during the 2nd quarter. Retirement Systems of Alabama now owns 31,806 shares of the real estate investment trust’s stock valued at $8,183,000 after purchasing an additional 119 shares during the period. BP PLC purchased a new position in Essex Property Trust during the 2nd quarter valued at about $1,956,000. Finally, Global X Management Co. LLC grew its position in shares of Essex Property Trust by 15.6% in the 2nd quarter. Global X Management Co. LLC now owns 1,849 shares of the real estate investment trust’s stock worth $476,000 after buying an additional 249 shares during the last quarter. Institutional investors and hedge funds own 97.26% of the company’s stock.

In other news, insider Craig K. Zimmerman sold 167 shares of the stock in a transaction dated Friday, November 10th. The stock was sold at an average price of $255.50, for a total transaction of $42,668.50. Following the transaction, the insider now owns 10,450 shares of the company’s stock, valued at approximately $2,669,975. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Michael J. Schall sold 333 shares of the stock in a transaction dated Tuesday, October 10th. The shares were sold at an average price of $257.92, for a total value of $85,887.36. Following the transaction, the chief executive officer now directly owns 45,096 shares in the company, valued at approximately $11,631,160.32. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 2,334 shares of company stock worth $599,759. Insiders own 3.30% of the company’s stock.

A number of analysts recently commented on ESS shares. Zacks Investment Research upgraded shares of Essex Property Trust from a “hold” rating to a “buy” rating and set a $289.00 target price for the company in a research note on Tuesday, October 10th. Mitsubishi UFJ Financial Group reissued a “neutral” rating on shares of Essex Property Trust in a report on Friday, November 3rd. Barclays reissued an “overweight” rating and issued a $280.00 price target (up previously from $269.00) on shares of Essex Property Trust in a report on Monday, August 21st. Robert W. Baird reaffirmed a “buy” rating and set a $273.00 target price on shares of Essex Property Trust in a report on Tuesday, September 12th. Finally, Royal Bank Of Canada reaffirmed a “buy” rating and set a $276.00 target price on shares of Essex Property Trust in a report on Friday, October 20th. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $269.50.

Shares of Essex Property Trust Inc (NYSE:ESS) opened at $240.61 on Friday. The stock has a market capitalization of $15,978.32, a PE ratio of 20.68, a P/E/G ratio of 3.27 and a beta of 0.50. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.83 and a quick ratio of 0.83. Essex Property Trust Inc has a one year low of $215.14 and a one year high of $270.04.

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Essex Property Trust Profile

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)

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