Alps Advisors Inc. increased its position in shares of Essex Property Trust, Inc. (NYSE:ESS) by 0.5% during the second quarter, Holdings Channel reports. The firm owned 5,598 shares of the real estate investment trust’s stock after buying an additional 30 shares during the period. Alps Advisors Inc.’s holdings in Essex Property Trust were worth $1,440,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the stock. SG Americas Securities LLC increased its stake in Essex Property Trust by 657.8% in the second quarter. SG Americas Securities LLC now owns 31,403 shares of the real estate investment trust’s stock worth $8,079,000 after buying an additional 27,259 shares during the period. State of Wisconsin Investment Board increased its stake in Essex Property Trust by 28.9% in the second quarter. State of Wisconsin Investment Board now owns 84,171 shares of the real estate investment trust’s stock worth $21,655,000 after buying an additional 18,894 shares during the period. LMR Partners LLP increased its stake in Essex Property Trust by 15.7% in the second quarter. LMR Partners LLP now owns 3,263 shares of the real estate investment trust’s stock worth $840,000 after buying an additional 443 shares during the period. Dupont Capital Management Corp increased its stake in Essex Property Trust by 43.6% in the second quarter. Dupont Capital Management Corp now owns 21,230 shares of the real estate investment trust’s stock worth $5,462,000 after buying an additional 6,446 shares during the period. Finally, Advisors Asset Management Inc. increased its stake in Essex Property Trust by 345.9% in the second quarter. Advisors Asset Management Inc. now owns 2,916 shares of the real estate investment trust’s stock worth $750,000 after buying an additional 2,262 shares during the period. 99.74% of the stock is currently owned by institutional investors and hedge funds.

Shares of Essex Property Trust, Inc. (ESS) opened at 262.61 on Friday. The stock has a market capitalization of $17.33 billion, a P/E ratio of 33.77 and a beta of 0.52. The firm has a 50 day moving average of $260.57 and a 200-day moving average of $246.73. Essex Property Trust, Inc. has a 12 month low of $200.01 and a 12 month high of $268.97.

Essex Property Trust (NYSE:ESS) last posted its quarterly earnings data on Thursday, July 27th. The real estate investment trust reported $2.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.92 by $0.05. The company had revenue of $339.06 million for the quarter, compared to analyst estimates of $336.17 million. Essex Property Trust had a net margin of 38.33% and a return on equity of 8.03%. During the same quarter last year, the firm posted $2.74 earnings per share. Analysts forecast that Essex Property Trust, Inc. will post $5.95 earnings per share for the current year.

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ESS has been the topic of several recent research reports. Morgan Stanley upped their target price on shares of Essex Property Trust from $260.00 to $267.00 and gave the stock an “overweight” rating in a research note on Wednesday. Royal Bank Of Canada upped their target price on shares of Essex Property Trust from $267.00 to $276.00 and gave the stock an “outperform” rating in a research note on Monday. Raymond James Financial, Inc. downgraded shares of Essex Property Trust from an “outperform” rating to a “hold” rating and set a $270.00 target price on the stock. in a research note on Wednesday, August 9th. Canaccord Genuity set a $270.00 target price on shares of Essex Property Trust and gave the stock a “hold” rating in a research note on Monday, July 31st. Finally, Mizuho downgraded shares of Essex Property Trust from a “buy” rating to a “neutral” rating and set a $283.00 target price on the stock. in a research note on Monday, July 31st. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $264.36.

In related news, Director Gary P. Martin sold 1,000 shares of Essex Property Trust stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $261.94, for a total value of $261,940.00. Following the completion of the sale, the director now owns 6,236 shares in the company, valued at $1,633,457.84. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Michael J. Schall sold 333 shares of Essex Property Trust stock in a transaction on Monday, July 10th. The stock was sold at an average price of $256.06, for a total transaction of $85,267.98. Following the completion of the sale, the insider now owns 45,096 shares of the company’s stock, valued at approximately $11,547,281.76. The disclosure for this sale can be found here. In the last 90 days, insiders sold 5,499 shares of company stock valued at $1,414,277. Insiders own 3.30% of the company’s stock.

About Essex Property Trust

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

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