Today, State Treasurer State of Michigan Increases Stake in Essex Property Trust Inc. (ESS)

Today, State Treasurer State of Michigan Increases Stake in Essex Property Trust Inc. (ESS)
State Treasurer State of Michigan increased its position in Essex Property Trust Inc. (NYSE:ESS) by 0.4% during the third quarter, according to its most recent filing with the SEC. The fund owned 22,814 shares of the real estate investment trust’s stock after buying an additional 100 shares during the period. State Treasurer State of Michigan’s holdings in Essex Property Trust were worth $5,081,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the company. Millie Capital Management LLC acquired a new stake in shares of Essex Property Trust during the second quarter valued at $1,129,000. Fox Run Management L.L.C. boosted its stake in shares of Essex Property Trust by 60.0% in the second quarter. Fox Run Management L.L.C. now owns 2,400 shares of the real estate investment trust’s stock valued at $547,000 after buying an additional 900 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt boosted its stake in shares of Essex Property Trust by 47.9% in the second quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 7,100 shares of the real estate investment trust’s stock valued at $1,619,000 after buying an additional 2,300 shares in the last quarter. Sarasin & Partners LLP boosted its stake in shares of Essex Property Trust by 3.0% in the second quarter. Sarasin & Partners LLP now owns 47,518 shares of the real estate investment trust’s stock valued at $10,838,000 after buying an additional 1,402 shares in the last quarter. Finally, Capstone Asset Management Co. boosted its stake in shares of Essex Property Trust by 3.8% in the second quarter. Capstone Asset Management Co. now owns 5,459 shares of the real estate investment trust’s stock valued at $1,245,000 after buying an additional 200 shares in the last quarter. 99.11% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Essex Property Trust Inc. (NYSE:ESS) opened at 212.83 on Friday. The stock has a market cap of $13.94 billion, a price-to-earnings ratio of 47.23 and a beta of 0.54. Essex Property Trust Inc. has a 1-year low of $191.25 and a 1-year high of $244.71. The firm has a 50-day moving average of $212.24 and a 200 day moving average of $221.49.

Essex Property Trust (NYSE:ESS) last announced its earnings results on Thursday, October 27th. The real estate investment trust reported $2.81 earnings per share for the quarter, beating analysts’ consensus estimates of $2.76 by $0.05. The firm had revenue of $329.17 million for the quarter, compared to analyst estimates of $325.44 million. Essex Property Trust had a net margin of 23.54% and a return on equity of 4.76%. The company’s revenue for the quarter was up 8.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.49 EPS. Equities research analysts forecast that Essex Property Trust Inc. will post $11.04 earnings per share for the current year.

A number of brokerages have commented on ESS. Bank of America Corp. cut shares of Essex Property Trust from a “buy” rating to a “neutral” rating and set a $232.00 price target on the stock. in a research report on Wednesday. Barclays PLC reaffirmed a “hold” rating and set a $232.00 price target on shares of Essex Property Trust in a research report on Tuesday, November 8th. Jefferies Group upped their price target on shares of Essex Property Trust from $209.00 to $210.00 and gave the company a “hold” rating in a research report on Wednesday, August 10th. Canaccord Genuity reaffirmed a “hold” rating and set a $239.00 price target (down previously from $246.00) on shares of Essex Property Trust in a research report on Monday, August 1st. Finally, BTIG Research began coverage on shares of Essex Property Trust in a research report on Thursday, August 25th. They set a “buy” rating and a $260.00 price target on the stock. Fourteen research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $242.25.

In other news, insider John D. Eudy sold 2,500 shares of Essex Property Trust stock in a transaction dated Thursday, September 1st. The shares were sold at an average price of $226.41, for a total transaction of $566,025.00. Following the sale, the insider now owns 9,268 shares of the company’s stock, valued at approximately $2,098,367.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 3.50% of the company’s stock.

About Essex Property Trust

Related posts

Leave a Comment