First Trust Advisors LP decreased its stake in Essex Property Trust, Inc. (NYSE:ESS) by 53.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 19,118 shares of the real estate investment trust’s stock after selling 21,814 shares during the period. First Trust Advisors LP’s holdings in Essex Property Trust were worth $4,918,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. IFP Advisors Inc increased its position in Essex Property Trust by 0.3% in the second quarter. IFP Advisors Inc now owns 1,575 shares of the real estate investment trust’s stock valued at $405,000 after buying an additional 4 shares during the last quarter. BTR Capital Management Inc. increased its position in Essex Property Trust by 0.7% in the second quarter. BTR Capital Management Inc. now owns 1,587 shares of the real estate investment trust’s stock valued at $408,000 after buying an additional 11 shares during the last quarter. Bbva Compass Bancshares Inc. increased its position in Essex Property Trust by 1.4% in the second quarter. Bbva Compass Bancshares Inc. now owns 1,140 shares of the real estate investment trust’s stock valued at $293,000 after buying an additional 16 shares during the last quarter. CIBC Asset Management Inc increased its position in Essex Property Trust by 0.3% in the second quarter. CIBC Asset Management Inc now owns 7,065 shares of the real estate investment trust’s stock valued at $1,818,000 after buying an additional 24 shares during the last quarter. Finally, Tiemann Investment Advisors LLC increased its position in Essex Property Trust by 0.6% in the first quarter. Tiemann Investment Advisors LLC now owns 4,050 shares of the real estate investment trust’s stock valued at $938,000 after buying an additional 25 shares during the last quarter. Institutional investors own 99.55% of the company’s stock.

Shares of Essex Property Trust, Inc. (NYSE:ESS) opened at 265.77 on Friday. The stock has a market cap of $17.54 billion, a PE ratio of 34.17 and a beta of 0.53. The firm has a 50 day moving average price of $263.30 and a 200 day moving average price of $249.89. Essex Property Trust, Inc. has a 12-month low of $200.01 and a 12-month high of $268.97.

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

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Several research firms have recently weighed in on ESS. Royal Bank Of Canada reiterated an “outperform” rating and set a $267.00 price target (up previously from $248.00) on shares of Essex Property Trust in a research note on Tuesday, May 16th. Stifel Nicolaus began coverage on Essex Property Trust in a research note on Friday. They set a “buy” rating and a $294.00 price target for the company. SunTrust Banks, Inc. downgraded Essex Property Trust from a “buy” rating to a “hold” rating and set a $257.00 price target for the company. in a research note on Thursday, May 18th. They noted that the move was a valuation call. Canaccord Genuity set a $270.00 price target on Essex Property Trust and gave the stock a “hold” rating in a research note on Monday, July 31st. Finally, Zacks Investment Research downgraded Essex Property Trust from a “buy” rating to a “hold” rating in a research note on Monday, July 17th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. Essex Property Trust presently has a consensus rating of “Hold” and a consensus price target of $267.57.

In related news, Director Byron A. Scordelis sold 6,265 shares of the business’s stock in a transaction dated Thursday, August 24th. The stock was sold at an average price of $267.39, for a total value of $1,675,198.35. Following the sale, the director now directly owns 4,986 shares in the company, valued at $1,333,206.54. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Angela L. Kleiman sold 2,466 shares of the business’s stock in a transaction dated Thursday, August 17th. The stock was sold at an average price of $263.37, for a total value of $649,470.42. Following the completion of the sale, the insider now owns 9,643 shares in the company, valued at $2,539,676.91. The disclosure for this sale can be found here. Insiders sold 11,230 shares of company stock worth $2,977,186 over the last quarter. 3.30% of the stock is owned by company 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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