New Mexico Educational Retirement Board Lowers Position in Essex Property Trust Inc (ESS)

New Mexico Educational Retirement Board lessened its stake in Essex Property Trust Inc (NYSE:ESS) by 58.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 6,300 shares of the real estate investment trust’s stock after selling 8,893 shares during the quarter. New Mexico Educational Retirement Board’s holdings in Essex Property Trust were worth $1,521,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Breton Hill Capital Ltd. bought a new stake in shares of Essex Property Trust in the 3rd quarter worth approximately $200,000. Beacon Investment Advisory Services Inc. bought a new stake in shares of Essex Property Trust in the 3rd quarter worth approximately $200,000. Shelton Capital Management bought a new stake in shares of Essex Property Trust in the 4th quarter worth approximately $208,000. Checchi Capital Advisers LLC bought a new stake in shares of Essex Property Trust in the 4th quarter worth approximately $217,000. Finally, Verition Fund Management LLC bought a new stake in shares of Essex Property Trust in the 2nd quarter worth approximately $225,000. 96.57% of the stock is currently owned by institutional investors.

ESS has been the topic of a number of research reports. Raymond James Financial reaffirmed an “underperform” rating on shares of Essex Property Trust in a report on Monday, January 8th. Mitsubishi UFJ Financial Group reaffirmed a “neutral” rating on shares of Essex Property Trust in a report on Friday, November 3rd. Sandler O’Neill set a $250.00 price target on shares of Essex Property Trust and gave the stock a “hold” rating in a report on Friday, January 12th. Evercore ISI raised shares of Essex Property Trust from an “in-line” rating to an “outperform” rating and set a $274.00 price target on the stock in a report on Monday, December 11th. Finally, Stifel Nicolaus cut shares of Essex Property Trust from a “buy” rating to a “hold” rating and lowered their price target for the stock from $280.00 to $235.00 in a report on Friday, January 19th. 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 assigned a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $264.94.

Essex Property Trust Inc (NYSE:ESS) opened at $229.67 on Tuesday. Essex Property Trust Inc has a one year low of $214.03 and a one year high of $270.04. The firm has a market cap of $15,170.62, a P/E ratio of 19.30, a P/E/G ratio of 3.12 and a beta of 0.42. 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 released its quarterly earnings results on Wednesday, February 7th. The real estate investment trust reported $3.01 EPS for the quarter, beating analysts’ consensus estimates of $3.00 by $0.01. The firm had revenue of $345.06 million during the quarter, compared to analyst estimates 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 in the previous year, the business earned $2.85 EPS. equities analysts predict that Essex Property Trust Inc will post 12.46 earnings per share for the current fiscal year.

In other news, Director Gary P. Martin sold 500 shares of the business’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $223.43, for a total transaction of $111,715.00. Following the completion of the transaction, the director now directly owns 5,736 shares in the company, valued at approximately $1,281,594.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Angela L. Kleiman sold 600 shares of the business’s stock in a transaction on Monday, December 11th. The shares were sold at an average price of $247.16, for a total transaction of $148,296.00. Following the transaction, the chief financial officer now owns 7,777 shares of the company’s stock, valued at $1,922,163.32. The disclosure for this sale can be found here. Insiders have sold a total of 8,602 shares of company stock valued at $2,115,430 over the last 90 days. Company insiders own 3.30% of the company’s stock.

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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.

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

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