Oppenheimer Asset Management Inc. boosted its position in shares of Essex Property Trust Inc (NYSE:ESS) by 48.9% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 6,301 shares of the real estate investment trust’s stock after buying an additional 2,069 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Essex Property Trust were worth $1,506,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Bbva Compass Bancshares Inc. grew its position in shares of Essex Property Trust by 20.7% in the second quarter. Bbva Compass Bancshares Inc. now owns 1,354 shares of the real estate investment trust’s stock valued at $324,000 after purchasing an additional 232 shares during the period. Riverhead Capital Management LLC grew its position in shares of Essex Property Trust by 7.3% in the first quarter. Riverhead Capital Management LLC now owns 3,666 shares of the real estate investment trust’s stock valued at $882,000 after purchasing an additional 250 shares during the period. Global X Management Co. LLC grew its position in shares of Essex Property Trust by 9.6% in the first quarter. Global X Management Co. LLC now owns 2,925 shares of the real estate investment trust’s stock valued at $704,000 after purchasing an additional 257 shares during the period. GWM Advisors LLC grew its position in shares of Essex Property Trust by 18.5% in the first quarter. GWM Advisors LLC now owns 1,687 shares of the real estate investment trust’s stock valued at $400,000 after purchasing an additional 263 shares during the period. Finally, Glen Harbor Capital Management LLC grew its position in shares of Essex Property Trust by 7.5% in the first quarter. Glen Harbor Capital Management LLC now owns 4,032 shares of the real estate investment trust’s stock valued at $970,000 after purchasing an additional 280 shares during the period. Institutional investors own 96.21% of the company’s stock.

NYSE:ESS opened at $243.89 on Wednesday. The company has a current ratio of 1.85, a quick ratio of 1.85 and a debt-to-equity ratio of 0.88. The stock has a market capitalization of $16.27 billion, a PE ratio of 20.48, a price-to-earnings-growth ratio of 3.21 and a beta of 0.30. Essex Property Trust Inc has a twelve month low of $214.03 and a twelve month high of $270.04.

Essex Property Trust (NYSE:ESS) last posted its quarterly earnings results on Wednesday, August 1st. The real estate investment trust reported $3.14 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $3.10 by $0.04. Essex Property Trust had a net margin of 27.05% and a return on equity of 5.52%. The firm had revenue of $348.72 million for the quarter, compared to the consensus estimate of $348.58 million. During the same period last year, the firm posted $2.97 earnings per share. research analysts anticipate that Essex Property Trust Inc will post 12.56 earnings per share for the current year.

In other Essex Property Trust news, insider Angela L. Kleiman sold 750 shares of Essex Property Trust stock in a transaction dated Thursday, August 16th. The shares were sold at an average price of $240.80, for a total transaction of $180,600.00. Following the transaction, the insider now directly owns 9,149 shares of the company’s stock, valued at $2,203,079.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 3.40% of the stock is owned by insiders.

Several analysts have recently issued reports on the stock. ValuEngine upgraded shares of Essex Property Trust from a “sell” rating to a “hold” rating in a research report on Wednesday, July 11th. DA Davidson reiterated a “neutral” rating on shares of Essex Property Trust in a research report on Monday, August 6th. Stifel Nicolaus upgraded shares of Essex Property Trust from a “hold” rating to a “buy” rating and lifted their target price for the company from $235.00 to $260.00 in a research report on Thursday, August 2nd. Zacks Investment Research upgraded shares of Essex Property Trust from a “hold” rating to a “buy” rating and set a $262.00 target price on the stock in a research report on Tuesday, July 31st. Finally, Barclays decreased their price target on shares of Essex Property Trust from $272.00 to $269.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 17th. Ten equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Essex Property Trust currently has an average rating of “Buy” and an average target price of $264.44.

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. The Company currently has ownership interests in 247 apartment communities comprising approximately 60,000 apartment homes, excluding six properties in various stages of active development, one commercial building, preferred equity co-investments, and loan investments.

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

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