Teacher Retirement System of Texas cut its stake in Essex Property Trust Inc (NYSE:ESS) by 9.4% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 29,030 shares of the real estate investment trust’s stock after selling 3,006 shares during the quarter. Teacher Retirement System of Texas’ holdings in Essex Property Trust were worth $7,374,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently modified their holdings of the business. Tower Research Capital LLC TRC boosted its holdings in shares of 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 valued at $121,000 after acquiring an additional 279 shares during the last quarter. Sun Life Financial INC boosted its holdings in shares of Essex Property Trust by 5,900.0% during the 2nd quarter. Sun Life Financial INC now owns 480 shares of the real estate investment trust’s stock valued at $123,000 after acquiring an additional 472 shares during the last quarter. Breton Hill Capital Ltd. purchased a new stake in shares of Essex Property Trust during the 3rd quarter valued at about $200,000. Wetherby Asset Management Inc. purchased a new stake in shares of Essex Property Trust during the 2nd quarter valued at about $203,000. Finally, Beaton Management Co. Inc. purchased a new stake in shares of Essex Property Trust during the 2nd quarter valued at about $207,000. Institutional investors and hedge funds own 97.26% of the company’s stock.
In other news, insider Craig K. Zimmerman sold 167 shares of the stock in a transaction on Friday, November 10th. The stock was sold at an average price of $255.50, for a total transaction of $42,668.50. Following the completion of the transaction, the insider now directly owns 10,450 shares in the company, valued at approximately $2,669,975. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Gary P. Martin sold 1,000 shares of the stock in a transaction on Monday, November 6th. The stock was sold at an average price of $255.59, for a total value of $255,590.00. Following the transaction, the director now owns 6,236 shares of the company’s stock, valued at $1,593,859.24. The disclosure for this sale can be found here. In the last 90 days, insiders sold 2,334 shares of company stock worth $599,759. Insiders own 3.30% of the company’s stock.
A number of equities analysts recently issued reports on ESS shares. Zacks Investment Research raised 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 report on Tuesday, October 10th. Cantor Fitzgerald reissued a “buy” rating and issued a $280.00 price objective on shares of Essex Property Trust in a report on Wednesday, September 13th. Robert W. Baird restated a “buy” rating and set a $273.00 target price on shares of Essex Property Trust in a research note on Tuesday, September 12th. Stifel Nicolaus began coverage on shares of Essex Property Trust in a research note on Friday, September 1st. They set a “buy” rating and a $294.00 target price on the stock. Finally, Barclays reiterated a “buy” rating and set a $283.00 price objective on shares of Essex Property Trust in a research report on Thursday, October 19th. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. Essex Property Trust presently has a consensus rating of “Hold” and a consensus target price of $269.50.
Essex Property Trust Inc (NYSE:ESS) traded down $0.76 on Monday, hitting $246.28. 348,175 shares of the stock traded hands, compared to its average volume of 345,243. The firm has a market capitalization of $16,250.00, a P/E ratio of 21.11, a P/E/G ratio of 3.33 and a beta of 0.50. Essex Property Trust Inc has a 12-month low of $212.41 and a 12-month high of $270.04. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.88.
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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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