Today, 474 Shares of Essex Property Trust Inc. (ESS) are sold by Alps Advisors Inc.

Today, 474 Shares of Essex Property Trust Inc. (ESS) are sold by Alps Advisors Inc.

Alps Advisors Inc. reduced its position in shares of Essex Property Trust Inc. (NYSE:ESS) by 6.4% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 6,975 shares of the real estate investment trust’s stock after selling 474 shares during the period. Alps Advisors Inc.’s holdings in Essex Property Trust were worth $1,553,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. State Treasurer State of Michigan boosted its stake in shares of Essex Property Trust by 0.4% in the third quarter. State Treasurer State of Michigan now owns 22,814 shares of the real estate investment trust’s stock worth $5,081,000 after buying an additional 100 shares in the last quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp bought a new stake in Essex Property Trust during the third quarter worth about $6,236,000. Advisor Partners LLC boosted its stake in Essex Property Trust by 14.8% in the third quarter. Advisor Partners LLC now owns 1,318 shares of the real estate investment trust’s stock worth $294,000 after buying an additional 170 shares in the last quarter. Aperio Group LLC boosted its stake in Essex Property Trust by 15.1% in the third quarter. Aperio Group LLC now owns 14,790 shares of the real estate investment trust’s stock worth $3,294,000 after buying an additional 1,945 shares in the last quarter. Finally, Arizona State Retirement System boosted its stake in Essex Property Trust by 0.4% in the third quarter. Arizona State Retirement System now owns 25,000 shares of the real estate investment trust’s stock worth $5,568,000 after buying an additional 100 shares in the last quarter. 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 midday trading on Monday, hitting $215.36. 375,506 shares of the company traded hands. Essex Property Trust Inc. has a 52 week low of $191.25 and a 52 week high of $244.71. The stock has a market capitalization of $14.11 billion, a PE ratio of 47.79 and a beta of 0.54. The stock has a 50 day moving average of $212.33 and a 200-day moving average of $221.21.

Essex Property Trust (NYSE:ESS) last posted its quarterly earnings results on Thursday, October 27th. The real estate investment trust reported $2.81 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.76 by $0.05. The company earned $329.17 million during 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 firm’s revenue for the quarter was up 8.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.49 earnings per share. Equities analysts forecast that Essex Property Trust Inc. will post $11.04 earnings per share for the current fiscal year.

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

In other Essex Property Trust news, insider John D. Eudy sold 2,500 shares of the company’s 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 directly owns 9,268 shares of the company’s stock, valued at $2,098,367.88. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 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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