Essex Property Trust, Inc. (ESS) Stake Cut by Texas Permanent School Fund

Texas Permanent School Fund reduced its position in Essex Property Trust, Inc. (NYSE:ESS) by 3.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 18,432 shares of the real estate investment trust’s stock after selling 721 shares during the period. Texas Permanent School Fund’s holdings in Essex Property Trust were worth $4,742,000 as of its most recent filing with the SEC.

Several other large investors have also bought and sold shares of the company. BlackRock Inc. raised its stake in Essex Property Trust by 2,296.8% in the first quarter. BlackRock Inc. now owns 6,479,030 shares of the real estate investment trust’s stock valued at $1,500,090,000 after buying an additional 6,208,705 shares during the period. Bank of Montreal Can raised its stake in shares of Essex Property Trust by 139.6% in the first quarter. Bank of Montreal Can now owns 950,717 shares of the real estate investment trust’s stock valued at $220,119,000 after buying an additional 553,947 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Essex Property Trust by 2.1% in the first quarter. Vanguard Group Inc. now owns 11,404,375 shares of the real estate investment trust’s stock valued at $2,640,455,000 after buying an additional 229,503 shares during the last quarter. NN Investment Partners Holdings N.V. raised its stake in shares of Essex Property Trust by 173.3% in the first quarter. NN Investment Partners Holdings N.V. now owns 230,793 shares of the real estate investment trust’s stock valued at $53,435,000 after buying an additional 146,356 shares during the last quarter. Finally, Brookfield Asset Management Inc. raised its stake in shares of Essex Property Trust by 24.1% in the first quarter. Brookfield Asset Management Inc. now owns 687,972 shares of the real estate investment trust’s stock valued at $159,286,000 after buying an additional 133,417 shares during the last quarter. Institutional investors own 99.74% of the company’s stock.

Shares of Essex Property Trust, Inc. (NYSE:ESS) traded down 0.70% during trading on Friday, reaching $260.76. 670,628 shares of the company were exchanged. The stock’s 50 day moving average is $260.59 and its 200 day moving average is $247.00. The company has a market capitalization of $17.21 billion, a price-to-earnings ratio of 33.53 and a beta of 0.52. Essex Property Trust, Inc. has a 1-year low of $200.01 and a 1-year high of $268.97.

Essex Property Trust (NYSE:ESS) last released its earnings results on Thursday, July 27th. The real estate investment trust reported $2.97 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.92 by $0.05. The firm had revenue of $339.06 million during the quarter, compared to analyst estimates of $336.17 million. Essex Property Trust had a net margin of 38.33% and a return on equity of 8.03%. During the same quarter last year, the business earned $2.74 EPS. Equities analysts anticipate that Essex Property Trust, Inc. will post $5.95 earnings per share for the current year.

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Several equities research analysts have recently issued reports on ESS shares. Zacks Investment Research upgraded shares of Essex Property Trust from a “sell” rating to a “hold” rating in a research note on Monday, April 24th. BidaskClub raised shares of Essex Property Trust from a “buy” rating to a “strong-buy” rating in a report on Tuesday, June 20th. SunTrust Banks, Inc. downgraded shares of Essex Property Trust from a “buy” rating to a “hold” rating and set a $257.00 price objective for the company. in a report on Thursday, May 18th. They noted that the move was a valuation call. BTIG Research downgraded shares of Essex Property Trust from a “buy” rating to a “neutral” rating in a report on Friday, June 30th. Finally, Barclays PLC raised their price objective on shares of Essex Property Trust from $267.00 to $269.00 and gave the stock an “overweight” rating in a report on Tuesday, July 18th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $264.36.

In related news, Director Gary P. Martin sold 1,000 shares of the firm’s stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $261.94, for a total value of $261,940.00. Following the transaction, the director now owns 6,236 shares of the company’s stock, valued at approximately $1,633,457.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Michael J. Schall sold 333 shares of the firm’s stock in a transaction dated Thursday, August 10th. The stock was sold at an average price of $263.97, for a total transaction of $87,902.01. Following the completion of the transaction, the chief executive officer now directly owns 45,096 shares in the company, valued at approximately $11,903,991.12. The disclosure for this sale can be found here. Insiders sold a total of 5,499 shares of company stock valued at $1,414,277 in the last 90 days. Company insiders own 3.30% of the company’s stock.

About Essex Property Trust

Essex Property Trust, Inc is a self-administered and self-managed real estate investment trust. The Company is engaged primarily in the ownership, operation, management, acquisition, development and redevelopment of predominantly apartment communities, located along the West Coast. Its segments include Southern California, Northern California, Seattle Metro and Other real estate assets.

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

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