Nisa Investment Advisors LLC grew its position in Essex Property Trust Inc (NYSE:ESS) by 22.2% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 26,134 shares of the real estate investment trust’s stock after acquiring an additional 4,739 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Essex Property Trust were worth $7,629,000 at the end of the most recent reporting period.
Other hedge funds have also recently bought and sold shares of the company. Private Ocean LLC increased its position in shares of Essex Property Trust by 21.7% in the first quarter. Private Ocean LLC now owns 252 shares of the real estate investment trust’s stock valued at $73,000 after buying an additional 45 shares in the last quarter. Tiemann Investment Advisors LLC increased its position in Essex Property Trust by 1.2% during the 1st quarter. Tiemann Investment Advisors LLC now owns 4,169 shares of the real estate investment trust’s stock worth $1,206,000 after purchasing an additional 50 shares in the last quarter. Mason Street Advisors LLC increased its position in Essex Property Trust by 0.6% during the 1st quarter. Mason Street Advisors LLC now owns 9,372 shares of the real estate investment trust’s stock worth $2,711,000 after purchasing an additional 58 shares in the last quarter. Wetherby Asset Management Inc. increased its position in Essex Property Trust by 5.8% during the 1st quarter. Wetherby Asset Management Inc. now owns 1,081 shares of the real estate investment trust’s stock worth $313,000 after purchasing an additional 59 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. boosted its stake in Essex Property Trust by 1.1% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 7,212 shares of the real estate investment trust’s stock worth $2,087,000 after buying an additional 81 shares during the last quarter. 97.65% of the stock is owned by institutional investors and hedge funds.
Shares of ESS opened at $313.31 on Wednesday. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.92 and a current ratio of 0.92. Essex Property Trust Inc has a 12 month low of $234.99 and a 12 month high of $313.43. The stock’s fifty day moving average is $301.07. The company has a market cap of $20.21 billion, a P/E ratio of 24.93, a P/E/G ratio of 3.83 and a beta of 0.37.
Essex Property Trust (NYSE:ESS) last announced its quarterly earnings results on Wednesday, July 24th. The real estate investment trust reported $1.40 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $3.26 by ($1.86). Essex Property Trust had a return on equity of 6.43% and a net margin of 28.83%. The business had revenue of $361.64 million for the quarter, compared to analyst estimates of $358.15 million. During the same quarter last year, the firm posted $3.14 EPS. Equities analysts predict that Essex Property Trust Inc will post 13.29 EPS for the current year.
ESS has been the topic of a number of research analyst reports. Stifel Nicolaus lifted their price objective on Essex Property Trust from $300.00 to $325.00 and gave the company a “buy” rating in a research note on Friday, July 26th. Robert W. Baird lowered Essex Property Trust from an “outperform” rating to a “neutral” rating and boosted their price target for the stock from $297.00 to $302.00 in a research report on Tuesday, June 18th. BMO Capital Markets set a $310.00 price target on Essex Property Trust and gave the stock a “hold” rating in a research report on Wednesday, July 24th. Barclays boosted their price target on Essex Property Trust from $310.00 to $328.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 16th. Finally, Morgan Stanley lifted their price objective on Essex Property Trust from $292.00 to $320.00 and gave the stock an “overweight” rating in a report on Thursday, June 27th. Nine investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Essex Property Trust has an average rating of “Buy” and an average price target of $294.17.
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 245 apartment communities with an additional 6 properties in various stages of active development.
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