Essex Property Trust, Inc. (NYSE:ESS) Stake Boosted by Sumitomo Mitsui DS Asset Management Company Ltd

Sumitomo Mitsui DS Asset Management Company Ltd boosted its holdings in Essex Property Trust, Inc. (NYSE:ESS) by 3.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 18,112 shares of the real estate investment trust’s stock after purchasing an additional 551 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Essex Property Trust were worth $4,930,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Continuum Advisory LLC boosted its holdings in shares of Essex Property Trust by 214.3% in the 2nd quarter. Continuum Advisory LLC now owns 110 shares of the real estate investment trust’s stock valued at $30,000 after buying an additional 75 shares during the period. UMB Bank n.a. lifted its holdings in Essex Property Trust by 600.0% in the second quarter. UMB Bank n.a. now owns 112 shares of the real estate investment trust’s stock worth $30,000 after acquiring an additional 96 shares during the last quarter. Family Firm Inc. bought a new position in Essex Property Trust in the second quarter worth about $31,000. Venturi Wealth Management LLC boosted its stake in Essex Property Trust by 112.3% in the first quarter. Venturi Wealth Management LLC now owns 138 shares of the real estate investment trust’s stock valued at $34,000 after acquiring an additional 73 shares during the period. Finally, Vima LLC bought a new position in shares of Essex Property Trust during the fourth quarter valued at approximately $40,000. Institutional investors own 96.51% of the company’s stock.

Insider Buying and Selling

In other Essex Property Trust news, Director Keith R. Guericke sold 10,000 shares of the company’s stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $274.57, for a total transaction of $2,745,700.00. Following the completion of the sale, the director now directly owns 16,118 shares of the company’s stock, valued at $4,425,519.26. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, Director Keith R. Guericke sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $274.57, for a total transaction of $2,745,700.00. Following the sale, the director now owns 16,118 shares in the company, valued at $4,425,519.26. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Angela L. Kleiman sold 3,780 shares of the firm’s stock in a transaction that occurred on Friday, June 21st. The stock was sold at an average price of $278.27, for a total transaction of $1,051,860.60. Following the completion of the transaction, the chief executive officer now directly owns 9,494 shares of the company’s stock, valued at approximately $2,641,895.38. The disclosure for this sale can be found here. 3.80% of the stock is currently owned by company insiders.

Essex Property Trust Trading Up 1.3 %

Essex Property Trust stock opened at $301.79 on Friday. The firm has a market cap of $19.38 billion, a price-to-earnings ratio of 36.89, a price-to-earnings-growth ratio of 3.96 and a beta of 0.86. Essex Property Trust, Inc. has a 1 year low of $203.85 and a 1 year high of $302.05. The firm’s 50 day moving average price is $282.28 and its two-hundred day moving average price is $260.53. The company has a debt-to-equity ratio of 1.11, a quick ratio of 3.19 and a current ratio of 1.62.

Essex Property Trust (NYSE:ESS) last released its quarterly earnings data on Tuesday, July 30th. The real estate investment trust reported $1.45 earnings per share for the quarter, missing the consensus estimate of $3.85 by ($2.40). The company had revenue of $442.36 million for the quarter, compared to the consensus estimate of $433.26 million. Essex Property Trust had a return on equity of 9.14% and a net margin of 30.31%. During the same period in the prior year, the business earned $3.77 earnings per share. On average, research analysts predict that Essex Property Trust, Inc. will post 15.53 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on ESS shares. UBS Group raised their price target on Essex Property Trust from $261.00 to $283.00 and gave the stock a “neutral” rating in a report on Thursday, July 18th. Morgan Stanley boosted their price target on shares of Essex Property Trust from $230.00 to $250.00 and gave the company an “equal weight” rating in a report on Tuesday, May 14th. Royal Bank of Canada upped their price target on shares of Essex Property Trust from $284.00 to $288.00 and gave the stock an “outperform” rating in a research report on Thursday, August 1st. Wells Fargo & Company lifted their price target on Essex Property Trust from $269.00 to $314.00 and gave the company an “equal weight” rating in a report on Monday, August 26th. Finally, JPMorgan Chase & Co. increased their price target on Essex Property Trust from $244.00 to $265.00 and gave the stock a “neutral” rating in a research note on Monday, June 17th. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $276.70.

Essex Property Trust Profile

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. Essex currently has ownership interests in 252 apartment communities comprising approximately 62,000 apartment homes with an additional property in active development.