Concurrent Investment Advisors LLC Purchases Shares of 790 Essex Property Trust, Inc. (NYSE:ESS)

Concurrent Investment Advisors LLC acquired a new position in shares of Essex Property Trust, Inc. (NYSE:ESS) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 790 shares of the real estate investment trust’s stock, valued at approximately $215,000.

A number of other large investors have also recently made changes to their positions in ESS. Continuum Advisory LLC lifted its position in Essex Property Trust by 214.3% during the 2nd quarter. Continuum Advisory LLC now owns 110 shares of the real estate investment trust’s stock worth $30,000 after acquiring an additional 75 shares during the period. UMB Bank n.a. boosted its position 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 valued at $30,000 after buying an additional 96 shares during the last quarter. Family Firm Inc. acquired a new position in Essex Property Trust in the 2nd quarter worth approximately $31,000. Vima LLC acquired a new position in Essex Property Trust in the 4th quarter worth approximately $40,000. Finally, Whittier Trust Co. of Nevada Inc. raised its position in Essex Property Trust by 121.8% during the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 193 shares of the real estate investment trust’s stock worth $53,000 after buying an additional 106 shares during the last quarter. 96.51% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on ESS. Evercore ISI increased their price objective on shares of Essex Property Trust from $268.00 to $283.00 and gave the stock an “in-line” rating in a research note on Wednesday, August 28th. JPMorgan Chase & Co. lifted their price objective on Essex Property Trust from $244.00 to $265.00 and gave the company a “neutral” rating in a research note on Monday, June 17th. Truist Financial boosted their price objective on Essex Property Trust from $282.00 to $294.00 and gave the company a “hold” rating in a report on Tuesday, August 27th. UBS Group raised their target price on Essex Property Trust from $261.00 to $283.00 and gave the stock a “neutral” rating in a report on Thursday, July 18th. Finally, The Goldman Sachs Group initiated coverage on Essex Property Trust in a report on Wednesday. They issued a “neutral” rating and a $318.00 price target for the company. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $281.25.

Essex Property Trust Stock Down 0.4 %

NYSE ESS opened at $301.63 on Thursday. The business has a fifty day moving average price of $283.86 and a 200 day moving average price of $262.24. The company has a debt-to-equity ratio of 1.11, a quick ratio of 1.62 and a current ratio of 1.62. The company has a market cap of $19.37 billion, a P/E ratio of 36.87, a P/E/G ratio of 4.32 and a beta of 0.86. Essex Property Trust, Inc. has a one year low of $203.85 and a one year high of $307.75.

Essex Property Trust (NYSE:ESS) last issued its earnings results on Tuesday, July 30th. The real estate investment trust reported $1.45 EPS for the quarter, missing analysts’ consensus estimates of $3.85 by ($2.40). The business had revenue of $442.36 million during the quarter, compared to analyst estimates of $433.26 million. Essex Property Trust had a net margin of 30.31% and a return on equity of 9.14%. During the same quarter last year, the company earned $3.77 earnings per share. Research analysts anticipate that Essex Property Trust, Inc. will post 15.53 EPS for the current fiscal year.

Insider Transactions at Essex Property Trust

In related news, Director Keith R. Guericke sold 10,000 shares of the stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $274.57, for a total value of $2,745,700.00. Following the completion of the sale, the director now 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 SEC, which is available through the SEC website. In other Essex Property Trust news, Director Keith R. Guericke sold 10,000 shares of the company’s stock in a transaction on Friday, June 14th. The stock was sold at an average price of $274.57, for a total value of $2,745,700.00. Following the completion of the sale, the director now directly owns 16,118 shares in the company, valued at approximately $4,425,519.26. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Amal M. Johnson sold 2,453 shares of Essex Property Trust stock in a transaction on Friday, August 30th. The stock was sold at an average price of $300.00, for a total value of $735,900.00. Following the transaction, the director now owns 2,585 shares in the company, valued at approximately $775,500. The disclosure for this sale can be found here. Insiders have sold a total of 16,233 shares of company stock worth $4,533,461 in the last ninety days. Insiders own 3.80% of the company’s stock.

About Essex Property Trust

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.