Meiji Yasuda Asset Management Co Ltd. decreased its holdings in shares of Essex Property Trust Inc (NYSE:ESS) by 15.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,100 shares of the real estate investment trust’s stock after selling 1,100 shares during the period. Meiji Yasuda Asset Management Co Ltd.’s holdings in Essex Property Trust were worth $1,550,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also made changes to their positions in ESS. Tower Research Capital LLC TRC grew its holdings in Essex Property Trust by 145.3% during the 2nd quarter. Tower Research Capital LLC TRC now owns 471 shares of the real estate investment trust’s stock worth $121,000 after acquiring an additional 279 shares during the period. Sun Life Financial INC boosted its position in shares of Essex Property Trust by 5,900.0% during the second quarter. Sun Life Financial INC now owns 480 shares of the real estate investment trust’s stock worth $123,000 after purchasing an additional 472 shares in the last quarter. Breton Hill Capital Ltd. bought a new position in shares of Essex Property Trust during the third quarter worth $200,000. Wetherby Asset Management Inc. bought a new position in shares of Essex Property Trust during the second quarter worth $203,000. Finally, Beaton Management Co. Inc. bought a new position in shares of Essex Property Trust during the second quarter worth $207,000. Hedge funds and other institutional investors own 97.26% of the company’s stock.
ESS has been the topic of a number of recent analyst reports. BMO Capital Markets reissued a “hold” rating and set a $257.00 price target on shares of Essex Property Trust in a research report on Monday, November 27th. Mitsubishi UFJ Financial Group reiterated a “neutral” rating on shares of Essex Property Trust in a research note on Friday, November 3rd. Morgan Stanley lifted their price target on shares of Essex Property Trust from $260.00 to $267.00 and gave the company an “overweight” rating in a research note on Wednesday, August 16th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $276.00 price target (up from $267.00) on shares of Essex Property Trust in a research note on Sunday, August 13th. Finally, Zacks Investment Research upgraded shares of Essex Property Trust from a “hold” rating to a “buy” rating and set a $289.00 price objective on the stock in a research note on Tuesday, October 10th. Three research analysts have rated the stock with a sell rating, nine have given a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $269.50.
Shares of Essex Property Trust Inc (NYSE ESS) traded down $1.35 during trading on Thursday, hitting $240.61. 498,196 shares of the stock were exchanged, compared to its average volume of 347,019. Essex Property Trust Inc has a 12 month low of $215.14 and a 12 month high of $270.04. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.83 and a current ratio of 0.83. The company has a market cap of $15,880.00, a P/E ratio of 20.77, a PEG ratio of 3.28 and a beta of 0.50.
In related news, Director Gary P. Martin sold 1,000 shares of the stock in a transaction that occurred on Monday, November 6th. The shares were sold at an average price of $255.59, for a total value of $255,590.00. Following the completion of the transaction, the director now owns 6,236 shares of the company’s stock, valued at approximately $1,593,859.24. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Craig K. Zimmerman sold 167 shares of the stock in a transaction that occurred on Monday, September 11th. The shares were sold at an average price of $267.02, for a total transaction of $44,592.34. Following the completion of the transaction, the insider now directly owns 10,450 shares of the company’s stock, valued at approximately $2,790,359. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 2,334 shares of company stock valued at $599,759. 3.30% of the stock is currently owned by insiders.
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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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