Essex Property Trust Inc (ESS) Holdings Increased by Bank of New York Mellon Corp

Share on StockTwits

Bank of New York Mellon Corp boosted its stake in shares of Essex Property Trust Inc (NYSE:ESS) by 0.6% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 585,209 shares of the real estate investment trust’s stock after buying an additional 3,610 shares during the period. Bank of New York Mellon Corp owned about 0.89% of Essex Property Trust worth $139,905,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. LPL Financial LLC increased its stake in shares of Essex Property Trust by 24.7% in the 4th quarter. LPL Financial LLC now owns 1,279 shares of the real estate investment trust’s stock worth $309,000 after purchasing an additional 253 shares in the last quarter. Global X Management Co. LLC increased its stake in shares of Essex Property Trust by 9.6% in the 1st quarter. Global X Management Co. LLC now owns 2,925 shares of the real estate investment trust’s stock worth $704,000 after purchasing an additional 257 shares in the last quarter. Wells Fargo & Company MN increased its stake in shares of Essex Property Trust by 35.4% in the 1st quarter. Wells Fargo & Company MN now owns 130,528 shares of the real estate investment trust’s stock worth $31,416,000 after purchasing an additional 34,116 shares in the last quarter. Daiwa Securities Group Inc. increased its stake in shares of Essex Property Trust by 4.1% in the 1st quarter. Daiwa Securities Group Inc. now owns 1,332,100 shares of the real estate investment trust’s stock worth $320,610,000 after purchasing an additional 52,394 shares in the last quarter. Finally, Rhumbline Advisers increased its stake in shares of Essex Property Trust by 1.5% in the 1st quarter. Rhumbline Advisers now owns 142,094 shares of the real estate investment trust’s stock worth $34,199,000 after purchasing an additional 2,149 shares in the last quarter. Hedge funds and other institutional investors own 97.75% of the company’s stock.

In other Essex Property Trust news, insider Angela L. Kleiman sold 750 shares of the stock in a transaction dated Thursday, August 16th. The shares were sold at an average price of $240.80, for a total transaction of $180,600.00. Following the completion of the transaction, the insider now owns 9,149 shares of the company’s stock, valued at approximately $2,203,079.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.40% of the stock is owned by corporate insiders.

Several equities research analysts have recently commented on ESS shares. Stifel Nicolaus upgraded Essex Property Trust from a “hold” rating to a “buy” rating and upped their price objective for the stock from $235.00 to $260.00 in a research note on Thursday, August 2nd. Zacks Investment Research upgraded Essex Property Trust from a “hold” rating to a “buy” rating and set a $262.00 price objective for the company in a research note on Tuesday, July 31st. Bank of America upped their price objective on Essex Property Trust from $276.00 to $277.00 and gave the stock a “buy” rating in a research note on Friday, June 8th. Mizuho reiterated a “hold” rating and issued a $263.00 price target on shares of Essex Property Trust in a research note on Monday, August 6th. Finally, ValuEngine upgraded Essex Property Trust from a “sell” rating to a “hold” rating in a research note on Wednesday, July 11th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Buy” and an average target price of $264.83.

Shares of ESS stock opened at $243.00 on Tuesday. Essex Property Trust Inc has a 52-week low of $214.03 and a 52-week high of $270.04. The company has a quick ratio of 1.85, a current ratio of 1.85 and a debt-to-equity ratio of 0.88. The firm has a market capitalization of $15.63 billion, a price-to-earnings ratio of 20.40, a price-to-earnings-growth ratio of 3.09 and a beta of 0.39.

Essex Property Trust (NYSE:ESS) last issued its quarterly earnings results on Wednesday, August 1st. The real estate investment trust reported $3.14 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $3.10 by $0.04. Essex Property Trust had a return on equity of 5.52% and a net margin of 27.05%. The business had revenue of $348.72 million during the quarter, compared to analyst estimates of $348.58 million. During the same quarter in the prior year, the business posted $2.97 EPS. analysts expect that Essex Property Trust Inc will post 12.53 EPS for the current year.

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. The Company currently has ownership interests in 247 apartment communities comprising approximately 60,000 apartment homes, excluding six properties in various stages of active development, one commercial building, preferred equity co-investments, and loan investments.

Featured Article: What is the NASDAQ?

Institutional Ownership by Quarter for Essex Property Trust (NYSE:ESS)

Receive News & Ratings for Essex Property Trust Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Essex Property Trust and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply