Rhumbline Advisers reduced its holdings in Essex Property Trust, Inc. (NYSE:ESS – Free Report) by 5.3% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 133,019 shares of the real estate investment trust’s stock after selling 7,420 shares during the period. Rhumbline Advisers owned approximately 0.21% of Essex Property Trust worth $27,820,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors and hedge funds have also made changes to their positions in ESS. Steward Partners Investment Advisory LLC lifted its holdings in shares of Essex Property Trust by 100.0% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 120 shares of the real estate investment trust’s stock valued at $25,000 after acquiring an additional 60 shares during the last quarter. Newbridge Financial Services Group Inc. bought a new stake in shares of Essex Property Trust in the 1st quarter valued at approximately $26,000. Gradient Investments LLC purchased a new position in shares of Essex Property Trust in the 1st quarter worth approximately $27,000. Ameritas Advisory Services LLC bought a new position in shares of Essex Property Trust during the 1st quarter valued at approximately $38,000. Finally, Nelson Van Denburg & Campbell Wealth Management Group LLC raised its holdings in Essex Property Trust by 6,600.0% during the 1st quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 201 shares of the real estate investment trust’s stock valued at $42,000 after buying an additional 198 shares during the period. 92.93% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
ESS has been the subject of several recent analyst reports. 22nd Century Group reaffirmed a “maintains” rating on shares of Essex Property Trust in a research note on Wednesday, May 31st. 51job reiterated a “maintains” rating on shares of Essex Property Trust in a report on Friday, May 19th. Barclays reduced their price objective on shares of Essex Property Trust from $226.00 to $224.00 in a research report on Wednesday, May 31st. StockNews.com began coverage on Essex Property Trust in a research report on Thursday, August 17th. They set a “hold” rating for the company. Finally, Citigroup increased their price target on Essex Property Trust from $250.00 to $280.00 and gave the stock a “buy” rating in a report on Tuesday, August 22nd. Three equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $243.90.
Essex Property Trust Stock Performance
Shares of ESS stock opened at $237.24 on Monday. The firm has a market cap of $15.23 billion, a price-to-earnings ratio of 28.86, a PEG ratio of 2.47 and a beta of 0.77. Essex Property Trust, Inc. has a 52-week low of $195.03 and a 52-week high of $284.20. The company has a quick ratio of 1.27, a current ratio of 1.27 and a debt-to-equity ratio of 1.03. The company’s 50 day moving average is $237.99 and its 200 day moving average is $225.33.
Essex Property Trust 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.
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