Essex Property Trust, Inc. (NYSE:ESS) Stock Holdings Reduced by Chevy Chase Trust Holdings LLC

Chevy Chase Trust Holdings LLC lessened its stake in shares of Essex Property Trust, Inc. (NYSE:ESS) by 1.4% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 35,062 shares of the real estate investment trust’s stock after selling 496 shares during the quarter. Chevy Chase Trust Holdings LLC owned about 0.05% of Essex Property Trust worth $9,544,000 as of its most recent filing with the SEC.

Other large investors also recently made changes to their positions in the company. State Board of Administration of Florida Retirement System boosted its stake in shares of Essex Property Trust by 2.6% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 81,456 shares of the real estate investment trust’s stock worth $19,941,000 after acquiring an additional 2,083 shares in the last quarter. Victory Capital Management Inc. boosted its stake in shares of Essex Property Trust by 11.1% during the 4th quarter. Victory Capital Management Inc. now owns 49,277 shares of the real estate investment trust’s stock worth $12,218,000 after acquiring an additional 4,943 shares in the last quarter. Canada Pension Plan Investment Board boosted its stake in shares of Essex Property Trust by 8.7% during the 1st quarter. Canada Pension Plan Investment Board now owns 225,045 shares of the real estate investment trust’s stock worth $55,093,000 after acquiring an additional 18,000 shares in the last quarter. Russell Investments Group Ltd. boosted its stake in shares of Essex Property Trust by 119.3% during the 4th quarter. Russell Investments Group Ltd. now owns 412,721 shares of the real estate investment trust’s stock worth $102,602,000 after acquiring an additional 224,554 shares in the last quarter. Finally, Mizuho Markets Americas LLC boosted its stake in shares of Essex Property Trust by 107.9% during the 1st quarter. Mizuho Markets Americas LLC now owns 43,802 shares of the real estate investment trust’s stock worth $10,723,000 after acquiring an additional 22,736 shares in the last quarter. Institutional investors own 96.51% of the company’s stock.

Insiders Place Their Bets

In other Essex Property Trust news, Director Keith R. Guericke sold 10,000 shares of the business’s stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $274.57, for a total value of $2,745,700.00. Following the completion of the transaction, the director now directly owns 16,118 shares of the company’s stock, valued at $4,425,519.26. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Essex Property Trust news, Director Keith R. Guericke sold 10,000 shares of the business’s stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $274.57, for a total value of $2,745,700.00. Following the completion of the transaction, the director now directly owns 16,118 shares of the company’s stock, valued at $4,425,519.26. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Angela L. Kleiman sold 3,780 shares of the business’s stock in a transaction dated Friday, June 21st. The stock was sold at an average price of $278.27, for a total transaction of $1,051,860.60. Following the completion of the transaction, the chief executive officer now directly owns 9,494 shares of the company’s stock, valued at $2,641,895.38. The disclosure for this sale can be found here. Insiders own 3.80% of the company’s stock.

Essex Property Trust Price Performance

Essex Property Trust stock traded up $0.79 during mid-day trading on Wednesday, hitting $287.93. 48,063 shares of the company were exchanged, compared to its average volume of 377,394. The company has a market capitalization of $18.49 billion, a PE ratio of 35.10, a price-to-earnings-growth ratio of 3.96 and a beta of 0.86. The business has a fifty day moving average of $279.73 and a 200 day moving average of $257.30. Essex Property Trust, Inc. has a 1-year low of $203.85 and a 1-year high of $292.37. The company has a quick ratio of 3.19, a current ratio of 1.62 and a debt-to-equity ratio of 1.11.

Essex Property Trust (NYSE:ESS) last issued its quarterly earnings data on Tuesday, July 30th. The real estate investment trust reported $1.45 earnings per share for the quarter, missing the consensus estimate of $3.85 by ($2.40). The firm had revenue of $442.36 million for the quarter, compared to the consensus estimate of $433.26 million. Essex Property Trust had a return on equity of 9.14% and a net margin of 30.31%. During the same period in the prior year, the company posted $3.77 earnings per share. As a group, sell-side analysts expect that Essex Property Trust, Inc. will post 15.53 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on ESS. Wells Fargo & Company upped their price target on Essex Property Trust from $232.00 to $269.00 and gave the stock an “equal weight” rating in a research note on Friday, May 31st. UBS Group increased their price objective on Essex Property Trust from $261.00 to $283.00 and gave the company a “neutral” rating in a research report on Thursday, July 18th. Evercore ISI boosted their target price on shares of Essex Property Trust from $254.00 to $260.00 and gave the stock an “in-line” rating in a research report on Tuesday, July 9th. Royal Bank of Canada increased their price target on shares of Essex Property Trust from $284.00 to $288.00 and gave the company an “outperform” rating in a report on Thursday, August 1st. Finally, Wedbush boosted their price objective on shares of Essex Property Trust from $264.00 to $301.00 and gave the stock a “neutral” rating in a report on Monday, August 5th. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $266.75.

Essex Property Trust Company Profile

Essex Property Trust, Inc, an S&P 500 company, is a fully integrated real estate investment trust (REIT) that acquires, develops, redevelops, and manages multifamily residential properties in selected West Coast markets. Essex currently has ownership interests in 252 apartment communities comprising approximately 62,000 apartment homes with an additional property in active development.