Rhumbline Advisers boosted its position in shares of Essex Property Trust Inc (NYSE:ESS) by 2.2% during the fourth quarter, HoldingsChannel.com reports. The firm owned 139,945 shares of the real estate investment trust’s stock after buying an additional 2,964 shares during the quarter. Rhumbline Advisers’ holdings in Essex Property Trust were worth $33,779,000 at the end of the most recent quarter.
Other hedge funds have also recently modified their holdings of the company. California Public Employees Retirement System raised its stake in Essex Property Trust by 5.5% during the third quarter. California Public Employees Retirement System now owns 146,507 shares of the real estate investment trust’s stock worth $37,217,000 after purchasing an additional 7,573 shares during the period. Honeywell International Inc. raised its stake in Essex Property Trust by 27.8% during the third quarter. Honeywell International Inc. now owns 21,692 shares of the real estate investment trust’s stock worth $5,510,000 after purchasing an additional 4,712 shares during the period. Comerica Bank raised its stake in Essex Property Trust by 32.5% during the third quarter. Comerica Bank now owns 24,482 shares of the real estate investment trust’s stock worth $6,385,000 after purchasing an additional 6,002 shares during the period. Great West Life Assurance Co. Can raised its stake in Essex Property Trust by 2.4% during the third quarter. Great West Life Assurance Co. Can now owns 90,038 shares of the real estate investment trust’s stock worth $22,755,000 after purchasing an additional 2,131 shares during the period. Finally, Envestnet Asset Management Inc. raised its stake in Essex Property Trust by 288.9% during the third quarter. Envestnet Asset Management Inc. now owns 23,149 shares of the real estate investment trust’s stock worth $5,882,000 after purchasing an additional 17,197 shares during the period. 96.57% of the stock is currently owned by institutional investors.
In related news, CEO Michael J. Schall sold 4,801 shares of the company’s stock in a transaction that occurred on Monday, December 11th. The shares were sold at an average price of $247.37, for a total transaction of $1,187,623.37. Following the sale, the chief executive officer now directly owns 49,564 shares of the company’s stock, valued at approximately $12,260,646.68. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Craig K. Zimmerman sold 1,001 shares of the company’s stock in a transaction that occurred on Monday, December 11th. The stock was sold at an average price of $247.24, for a total transaction of $247,487.24. Following the sale, the insider now directly owns 11,284 shares in the company, valued at $2,789,856.16. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 8,602 shares of company stock worth $2,115,430. 3.30% of the stock is owned by insiders.
Shares of Essex Property Trust Inc (ESS) opened at $225.44 on Wednesday. Essex Property Trust Inc has a 52 week low of $214.03 and a 52 week high of $270.04. The stock has a market cap of $15,170.62, a P/E ratio of 19.30, a PEG ratio of 3.12 and a beta of 0.42. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.89.
Essex Property Trust (NYSE:ESS) last announced its earnings results on Wednesday, February 7th. The real estate investment trust reported $3.01 earnings per share for the quarter, topping the consensus estimate of $3.00 by $0.01. Essex Property Trust had a net margin of 31.75% and a return on equity of 6.76%. The firm had revenue of $345.06 million for the quarter, compared to the consensus estimate of $346.50 million. During the same period in the prior year, the firm earned $2.85 EPS. sell-side analysts anticipate that Essex Property Trust Inc will post 12.46 earnings per share for the current fiscal year.
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Essex Property Trust Profile
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.
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