Essex Property Trust Inc (ESS) Shares Bought by Arizona State Retirement System

Arizona State Retirement System grew its stake in Essex Property Trust Inc (NYSE:ESS) by 26.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 49,519 shares of the real estate investment trust’s stock after acquiring an additional 10,510 shares during the period. Arizona State Retirement System owned 0.07% of Essex Property Trust worth $11,952,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Breton Hill Capital Ltd. bought a new position in Essex Property Trust in the 3rd quarter worth about $200,000. Beacon Investment Advisory Services Inc. bought a new position in shares of Essex Property Trust during the third quarter valued at approximately $200,000. Shelton Capital Management bought a new position in shares of Essex Property Trust during the fourth quarter valued at approximately $208,000. Verition Fund Management LLC bought a new position in shares of Essex Property Trust during the second quarter valued at approximately $225,000. Finally, Checchi Capital Advisers LLC bought a new position in shares of Essex Property Trust during the fourth quarter valued at approximately $217,000. Institutional investors and hedge funds own 96.31% of the company’s stock.

A number of equities analysts have recently issued reports on ESS shares. Raymond James Financial reiterated an “underperform” rating on shares of Essex Property Trust in a research note on Monday, January 8th. Barclays dropped their price objective on shares of Essex Property Trust from $277.00 to $271.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 30th. BMO Capital Markets reiterated a “hold” rating and set a $257.00 price objective on shares of Essex Property Trust in a research note on Monday, November 27th. Stifel Nicolaus downgraded shares of Essex Property Trust from a “buy” rating to a “hold” rating and dropped their price objective for the company from $280.00 to $235.00 in a research note on Friday, January 19th. Finally, Mitsubishi UFJ Financial Group reiterated a “neutral” rating on shares of Essex Property Trust in a research note on Friday, November 3rd. One analyst has rated the stock with a sell rating, eight have issued a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. Essex Property Trust presently has an average rating of “Buy” and an average price target of $264.94.

In other Essex Property Trust news, CEO Michael J. Schall sold 4,801 shares of the firm’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 value of $1,187,623.37. Following the completion of the sale, the chief executive officer now directly owns 49,564 shares in the company, valued at $12,260,646.68. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Craig K. Zimmerman sold 1,001 shares of the firm’s stock in a transaction 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 completion of the transaction, the insider now directly owns 11,284 shares of the company’s stock, valued at approximately $2,789,856.16. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 8,602 shares of company stock valued at $2,115,430. 3.30% of the stock is owned by insiders.

Shares of Essex Property Trust Inc (ESS) opened at $229.67 on Friday. The firm has a market cap of $14,846.30, a P/E ratio of 34.90, a price-to-earnings-growth ratio of 3.05 and a beta of 0.42. Essex Property Trust Inc has a one year low of $214.03 and a one year high of $270.04. 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, beating the Thomson Reuters’ consensus estimate of $3.00 by $0.01. The company had revenue of $345.06 million during the quarter, compared to the consensus estimate of $346.50 million. Essex Property Trust had a net margin of 31.75% and a return on equity of 6.76%. During the same period last year, the firm earned $2.85 earnings per share. equities research analysts anticipate that Essex Property Trust Inc will post 12.46 EPS for the current year.

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Essex Property Trust Company 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.

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

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