Mitsubishi UFJ Trust & Banking Corp Sells 86,239 Shares of Essex Property Trust Inc (ESS)

Mitsubishi UFJ Trust & Banking Corp reduced its stake in shares of Essex Property Trust Inc (NYSE:ESS) by 61.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 54,450 shares of the real estate investment trust’s stock after selling 86,239 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in Essex Property Trust were worth $13,433,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Westpac Banking Corp grew its position in shares of Essex Property Trust by 39.0% in the third quarter. Westpac Banking Corp now owns 136,499 shares of the real estate investment trust’s stock valued at $33,676,000 after purchasing an additional 38,329 shares during the last quarter. Canada Pension Plan Investment Board grew its position in shares of Essex Property Trust by 88.3% in the third quarter. Canada Pension Plan Investment Board now owns 303,719 shares of the real estate investment trust’s stock valued at $74,931,000 after purchasing an additional 142,443 shares during the last quarter. DekaBank Deutsche Girozentrale grew its position in shares of Essex Property Trust by 269.1% in the third quarter. DekaBank Deutsche Girozentrale now owns 17,423 shares of the real estate investment trust’s stock valued at $4,354,000 after purchasing an additional 12,703 shares during the last quarter. American International Group Inc. grew its position in shares of Essex Property Trust by 6.2% in the third quarter. American International Group Inc. now owns 24,146 shares of the real estate investment trust’s stock valued at $5,957,000 after purchasing an additional 1,419 shares during the last quarter. Finally, BlackRock Inc. grew its position in shares of Essex Property Trust by 1.1% in the third quarter. BlackRock Inc. now owns 6,890,158 shares of the real estate investment trust’s stock valued at $1,699,871,000 after purchasing an additional 78,034 shares during the last quarter. Institutional investors own 96.93% of the company’s stock.

Several equities research analysts have recently issued reports on ESS shares. Jefferies Financial Group raised their price target on Essex Property Trust to $262.00 in a research report on Sunday. Zacks Investment Research raised Essex Property Trust from a “hold” rating to a “buy” rating and set a $275.00 price target on the stock in a research report on Wednesday, October 3rd. Royal Bank of Canada reaffirmed a “buy” rating and issued a $269.00 price target on shares of Essex Property Trust in a research report on Thursday, August 30th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $275.00 price target on shares of Essex Property Trust in a research report on Wednesday, October 31st. Finally, ValuEngine raised Essex Property Trust from a “hold” rating to a “buy” rating in a research report on Wednesday, November 21st. Eleven investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $264.84.

ESS stock opened at $262.78 on Tuesday. Essex Property Trust Inc has a twelve month low of $214.03 and a twelve month high of $264.72. The stock has a market cap of $17.34 billion, a P/E ratio of 22.06, a PEG ratio of 3.44 and a beta of 0.23. The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.31 and a current ratio of 1.31.

Essex Property Trust (NYSE:ESS) last released its earnings results on Monday, October 29th. The real estate investment trust reported $1.22 earnings per share for the quarter, missing analysts’ consensus estimates of $3.14 by ($1.92). Essex Property Trust had a return on equity of 5.52% and a net margin of 27.01%. The firm had revenue of $350.92 million for the quarter, compared to analyst estimates of $351.58 million. During the same period last year, the business earned $2.98 earnings per share. On average, sell-side analysts predict that Essex Property Trust Inc will post 12.56 earnings per share for the current fiscal year.

In other Essex Property Trust news, EVP John D. Eudy sold 166 shares of the firm’s stock in a transaction dated Monday, November 12th. The shares were sold at an average price of $254.03, for a total transaction of $42,168.98. Following the completion of the transaction, the executive vice president now owns 9,818 shares in the company, valued at $2,494,066.54. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider John D. Eudy sold 1,834 shares of the firm’s stock in a transaction dated Wednesday, October 24th. The stock was sold at an average price of $252.13, for a total transaction of $462,406.42. Following the transaction, the insider now owns 11,486 shares of the company’s stock, valued at approximately $2,895,965.18. The disclosure for this sale can be found here. Over the last three months, insiders have sold 6,429 shares of company stock worth $1,626,398. 3.40% of the stock is owned by company insiders.

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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. The Company currently has ownership interests in 248 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.

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

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