Teachers Insurance & Annuity Association of America trimmed its stake in shares of Essex Property Trust Inc (NYSE:ESS) by 1.0% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 84,852 shares of the real estate investment trust’s stock after selling 821 shares during the quarter. Essex Property Trust accounts for about 1.4% of Teachers Insurance & Annuity Association of America’s holdings, making the stock its 16th largest position. Teachers Insurance & Annuity Association of America owned about 0.13% of Essex Property Trust worth $20,286,000 as of its most recent filing with the SEC.

Several other large investors also recently added to or reduced their stakes in the stock. Fjarde AP Fonden Fourth Swedish National Pension Fund increased its stake in Essex Property Trust by 10.9% in the 2nd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 20,098 shares of the real estate investment trust’s stock worth $4,805,000 after acquiring an additional 1,972 shares during the last quarter. SG Americas Securities LLC increased its position in shares of Essex Property Trust by 103.4% during the 1st quarter. SG Americas Securities LLC now owns 35,707 shares of the real estate investment trust’s stock valued at $8,594,000 after purchasing an additional 18,152 shares during the last quarter. Investec Asset Management PTY Ltd bought a new position in shares of Essex Property Trust during the 1st quarter valued at about $939,000. Comerica Bank increased its position in shares of Essex Property Trust by 2.8% during the 1st quarter. Comerica Bank now owns 25,684 shares of the real estate investment trust’s stock valued at $6,170,000 after purchasing an additional 695 shares during the last quarter. Finally, Franklin Resources Inc. increased its position in shares of Essex Property Trust by 5.5% during the 1st quarter. Franklin Resources Inc. now owns 42,421 shares of the real estate investment trust’s stock valued at $10,210,000 after purchasing an additional 2,227 shares during the last quarter. Institutional investors own 97.75% of the company’s stock.

ESS stock traded up $0.90 during trading on Friday, hitting $241.89. 1,876 shares of the company traded hands, compared to its average volume of 415,270. The stock has a market capitalization of $15.63 billion, a PE ratio of 20.29, a P/E/G ratio of 3.09 and a beta of 0.39. Essex Property Trust Inc has a 1 year low of $214.03 and a 1 year high of $270.04. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.85 and a quick ratio of 1.85.

Essex Property Trust (NYSE:ESS) last issued its earnings results on Wednesday, August 1st. The real estate investment trust reported $3.14 earnings per share for the quarter, beating the consensus estimate of $3.10 by $0.04. The company had revenue of $348.72 million during the quarter, compared to analysts’ expectations of $348.58 million. Essex Property Trust had a return on equity of 5.52% and a net margin of 27.05%. During the same period in the prior year, the business posted $2.97 EPS. analysts anticipate that Essex Property Trust Inc will post 12.53 EPS for the current year.

Several equities analysts have recently commented on the company. DA Davidson reiterated a “neutral” rating on shares of Essex Property Trust in a research report on Monday, August 6th. Zacks Investment Research upgraded Essex Property Trust from a “hold” rating to a “buy” rating and set a $262.00 price objective on the stock in a research report on Tuesday, July 31st. ValuEngine lowered Essex Property Trust from a “hold” rating to a “sell” rating in a research report on Thursday, May 17th. Bank of America increased their price objective on Essex Property Trust from $276.00 to $277.00 and gave the company a “buy” rating in a research report on Friday, June 8th. Finally, Mizuho restated a “hold” rating and set a $263.00 target price on shares of Essex Property Trust in a report on Monday, August 6th. One analyst has rated the stock with a sell rating, nine have issued a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $264.83.

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. The Company currently has ownership interests in 247 apartment communities comprising more than 60,000 apartment homes with an additional 7 properties in various stages of active development.

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

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