Trade Report: Today, 7,940 Shares of Essex Property Trust Inc. (ESS) are sold by Victory Capital Management Inc.

Today, 7,940 Shares of Essex Property Trust Inc. (ESS) are sold by Victory Capital Management Inc.

Victory Capital Management Inc. cut its stake in Essex Property Trust Inc. (NYSE:ESS) by 2.8% during the third quarter, Holdings Channel reports. The firm owned 275,362 shares of the real estate investment trust’s stock after selling 7,940 shares during the period. Victory Capital Management Inc.’s holdings in Essex Property Trust were worth $61,323,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. NEXT Financial Group Inc increased its position in Essex Property Trust by 9.3% in the third quarter. NEXT Financial Group Inc now owns 469 shares of the real estate investment trust’s stock valued at $104,000 after buying an additional 40 shares during the period. Washington Trust Bank increased its position 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 valued at $105,000 after buying an additional 6 shares during the period. Hanson McClain Inc. increased its position 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 valued at $139,000 after buying an additional 3 shares during the period. Checchi Capital Advisers LLC increased its position 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 valued at $155,000 after buying an additional 110 shares during the period. Finally, Global X Management Co. LLC increased its position 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 valued at $174,000 after buying an additional 400 shares during the period. 98.05% of the stock is currently owned by institutional investors and hedge funds.

Essex Property Trust Inc. (NYSE:ESS) traded up 1.27% during trading on Monday, reaching $215.54. 236,191 shares of the company traded hands. Essex Property Trust Inc. has a 12 month low of $191.25 and a 12 month high of $244.71. The company’s 50-day moving average is $212.24 and its 200 day moving average is $221.49. The company has a market cap of $14.12 billion, a PE ratio of 47.83 and a beta of 0.54.

Essex Property Trust (NYSE:ESS) last released its quarterly earnings results on Thursday, October 27th. The real estate investment trust reported $2.81 EPS for the quarter, beating the consensus estimate of $2.76 by $0.05. The business 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 quarterly revenue was up 8.1% on a year-over-year basis. During the same period in the prior year, the business earned $2.49 earnings per share. On average, analysts anticipate that Essex Property Trust Inc. will post $11.04 earnings per share for the current year.

Several research analysts have recently weighed in on the stock. Evercore ISI raised shares of Essex Property Trust from a “hold” rating to a “buy” rating in a research report on Monday. Cantor Fitzgerald reaffirmed a “buy” rating and set a $252.00 price objective on shares of Essex Property Trust in a research report on Friday, October 28th. Bank of America Corp. downgraded shares of Essex Property Trust from a “buy” rating to a “neutral” rating and set a $232.00 price objective on the stock. in a research report on Wednesday, November 23rd. Barclays PLC reaffirmed a “hold” rating and set a $232.00 price objective on shares of Essex Property Trust in a research report on Tuesday, November 8th. Finally, Canaccord Genuity reaffirmed a “hold” rating and set a $239.00 price objective (down from $246.00) on shares of Essex Property Trust in a research report on Monday, August 1st. Thirteen investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $242.25.

In other news, insider John D. Eudy sold 2,500 shares of the stock in a transaction that occurred on Thursday, September 1st. The shares were sold at an average price of $226.41, for a total value of $566,025.00. Following the sale, the insider now directly owns 9,268 shares in the company, valued at $2,098,367.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.50% of the stock is currently owned by insiders.

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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