Traders sold shares of Essex Property Trust, Inc. (NYSE:ESS) on strength during trading on Tuesday. $14.99 million flowed into the stock on the tick-up and $32.77 million flowed out of the stock on the tick-down, for a money net flow of $17.78 million out of the stock. Of all equities tracked, Essex Property Trust had the 0th highest net out-flow for the day. Essex Property Trust traded up $0.32 for the day and closed at $266.09

Several brokerages recently issued reports on ESS. Jefferies Group LLC reiterated a “hold” rating and issued a $234.00 target price on shares of Essex Property Trust in a research note on Tuesday, May 30th. Royal Bank Of Canada restated a “buy” rating and set a $267.00 price objective on shares of Essex Property Trust in a research report on Sunday, July 16th. Zacks Investment Research upgraded shares of Essex Property Trust from a “hold” rating to a “buy” rating and set a $283.00 price objective for the company in a research report on Tuesday, July 11th. Mizuho downgraded shares of Essex Property Trust from a “buy” rating to a “neutral” rating and set a $283.00 price objective for the company. in a research report on Monday, July 31st. Finally, Evercore ISI downgraded shares of Essex Property Trust from an “in-line” rating to an “underperform” rating and set a $261.00 price objective for the company. in a research report on Monday, June 12th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. Essex Property Trust has a consensus rating of “Hold” and an average price target of $267.57.

The firm has a market cap of $17.52 billion, a P/E ratio of 34.129 and a beta of 0.53. The company has a 50-day moving average of $263.93 and a 200 day moving average of $250.77.

Essex Property Trust (NYSE:ESS) last released its earnings results on Thursday, July 27th. The real estate investment trust reported $2.97 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.92 by $0.05. The firm had revenue of $339.06 million for the quarter, compared to analysts’ expectations 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 period in the previous year, the company earned $2.74 earnings per share. Equities analysts predict that Essex Property Trust, Inc. will post $5.95 EPS for the current fiscal year.

In related news, Director Byron A. Scordelis sold 6,265 shares of the company’s stock in a transaction that occurred on Thursday, August 24th. The shares were sold at an average price of $267.39, for a total transaction of $1,675,198.35. Following the sale, the director now directly owns 4,986 shares in the company, valued at approximately $1,333,206.54. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Angela L. Kleiman sold 2,466 shares of the company’s stock in a transaction that occurred on Thursday, August 17th. The shares were sold at an average price of $263.37, for a total transaction of $649,470.42. Following the sale, the insider now owns 9,643 shares in the company, valued at $2,539,676.91. The disclosure for this sale can be found here. Insiders have sold a total of 11,230 shares of company stock worth $2,977,186 over the last 90 days. 3.30% of the stock is currently owned by corporate insiders.

Several hedge funds have recently made changes to their positions in ESS. Oregon Public Employees Retirement Fund lifted its stake in shares of Essex Property Trust by 1.5% during the 1st quarter. Oregon Public Employees Retirement Fund now owns 6,905 shares of the real estate investment trust’s stock valued at $1,599,000 after buying an additional 100 shares in the last quarter. Commerzbank Aktiengesellschaft FI lifted its stake in shares of Essex Property Trust by 101.8% during the 1st quarter. Commerzbank Aktiengesellschaft FI now owns 2,484 shares of the real estate investment trust’s stock valued at $575,000 after buying an additional 1,253 shares in the last quarter. First Trust Advisors LP lifted its stake in shares of Essex Property Trust by 79.8% during the 1st quarter. First Trust Advisors LP now owns 40,932 shares of the real estate investment trust’s stock valued at $9,477,000 after buying an additional 18,173 shares in the last quarter. Advisors Asset Management Inc. lifted its stake in shares of Essex Property Trust by 118.0% during the 1st quarter. Advisors Asset Management Inc. now owns 654 shares of the real estate investment trust’s stock valued at $151,000 after buying an additional 354 shares in the last quarter. Finally, Flinton Capital Management LLC lifted its stake in shares of Essex Property Trust by 19.4% during the 1st quarter. Flinton Capital Management LLC now owns 1,872 shares of the real estate investment trust’s stock valued at $433,000 after buying an additional 304 shares in the last quarter. Institutional investors own 99.55% of the company’s stock.

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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.