Today: Today, 214 Shares of Essex Property Trust Inc. (ESS) are sold by Exxonmobil Investment Management Inc. TX

Today, 214 Shares of Essex Property Trust Inc. (ESS) are sold by Exxonmobil Investment Management Inc. TX

Exxonmobil Investment Management Inc. TX reduced its position in shares of Essex Property Trust Inc. (NYSE:ESS) by 1.3% during the third quarter, Holdings Channel reports. The firm owned 16,723 shares of the real estate investment trust’s stock after selling 214 shares during the period. Exxonmobil Investment Management Inc. TX’s holdings in Essex Property Trust were worth $3,724,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Washington Trust Bank raised its stake in Essex Property Trust by 1.3% in the third quarter. Washington Trust Bank now owns 472 shares of the real estate investment trust’s stock worth $105,000 after buying an additional 6 shares during the period. Hanson McClain Inc. raised its stake in Essex Property Trust by 0.5% in the second quarter. Hanson McClain Inc. now owns 608 shares of the real estate investment trust’s stock worth $139,000 after buying an additional 3 shares during the period. Checchi Capital Advisers LLC raised its stake in Essex Property Trust by 19.3% in the second quarter. Checchi Capital Advisers LLC now owns 680 shares of the real estate investment trust’s stock worth $155,000 after buying an additional 110 shares during the period. Global X Management Co. LLC raised its stake in Essex Property Trust by 110.2% in the second quarter. Global X Management Co. LLC now owns 763 shares of the real estate investment trust’s stock worth $174,000 after buying an additional 400 shares during the period. Finally, First Allied Advisory Services Inc. bought a new stake in Essex Property Trust during the second quarter worth approximately $211,000. Hedge funds and other institutional investors own 98.05% of the company’s stock.

Shares of Essex Property Trust Inc. (NYSE:ESS) traded up 1.19% during mid-day trading on Monday, hitting $215.36. The company had a trading volume of 375,506 shares. The firm has a market capitalization of $14.11 billion, a PE ratio of 47.79 and a beta of 0.54. Essex Property Trust Inc. has a 52 week low of $191.25 and a 52 week high of $244.71. The firm has a 50-day moving average price of $212.24 and a 200-day moving average price of $221.49.

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

ESS has been the topic of several research analyst reports. Canaccord Genuity cut their target price on Essex Property Trust from $246.00 to $219.00 and set a “hold” rating on the stock in a research report on Monday, October 31st. Jefferies Group upped their target price on Essex Property Trust from $209.00 to $210.00 and gave the company a “hold” rating in a research report on Wednesday, August 10th. BTIG Research initiated coverage on Essex Property Trust in a research report on Thursday, August 25th. They set a “buy” rating and a $260.00 target price on the stock. Barclays PLC restated a “hold” rating and set a $232.00 target price on shares of Essex Property Trust in a research report on Tuesday, November 8th. Finally, Bank of America Corp. lowered Essex Property Trust from a “buy” rating to a “neutral” rating and set a $232.00 target price on the stock. in a research report on Wednesday, November 23rd. Thirteen investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $241.94.

In other Essex Property Trust news, insider John D. Eudy sold 2,500 shares of Essex Property Trust stock in a transaction that occurred on Thursday, September 1st. The stock was sold at an average price of $226.41, for a total transaction of $566,025.00. Following the sale, the insider now directly owns 9,268 shares of the company’s stock, valued at approximately $2,098,367.88. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 3.50% of the company’s stock.

About Essex Property Trust

Essex Property Trust, Inc is a self-administered and self-managed real estate investment trust (REIT). The Company owns all of its interest in its real estate and other investments directly or indirectly through Essex Portfolio, L.P. (the Operating Partnership). The Company is engaged in the ownership, operation, management, acquisition, development and redevelopment of apartment communities.

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