New York State Common Retirement Fund trimmed its holdings in shares of Essex Property Trust Inc (NYSE:ESS) by 2.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 120,800 shares of the real estate investment trust’s stock after selling 3,450 shares during the period. New York State Common Retirement Fund owned about 0.18% of Essex Property Trust worth $36,344,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Sumitomo Mitsui Trust Holdings Inc. raised its stake in Essex Property Trust by 4.3% in the 3rd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 330,268 shares of the real estate investment trust’s stock valued at $107,882,000 after acquiring an additional 13,718 shares during the period. Eventide Asset Management LLC purchased a new position in Essex Property Trust during the 3rd quarter valued at about $588,000. Millennium Management LLC grew its holdings in Essex Property Trust by 255.2% during the 3rd quarter. Millennium Management LLC now owns 51,215 shares of the real estate investment trust’s stock valued at $16,729,000 after buying an additional 36,797 shares in the last quarter. Virtu Financial LLC purchased a new position in Essex Property Trust during the 3rd quarter valued at about $678,000. Finally, Bluefin Trading LLC purchased a new position in Essex Property Trust during the 3rd quarter valued at about $817,000. Institutional investors own 95.30% of the company’s stock.

In other news, EVP Craig K. Zimmerman sold 4,379 shares of the business’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $310.59, for a total transaction of $1,360,073.61. Following the completion of the transaction, the executive vice president now owns 12,845 shares of the company’s stock, valued at $3,989,528.55. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO John Farias sold 822 shares of the business’s stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $316.25, for a total value of $259,957.50. Following the transaction, the chief accounting officer now directly owns 1,533 shares of the company’s stock, valued at approximately $484,811.25. The disclosure for this sale can be found here. Insiders have sold 27,163 shares of company stock valued at $8,571,786 in the last three months. 3.60% of the stock is owned by insiders.

Shares of NYSE ESS opened at $324.17 on Friday. Essex Property Trust Inc has a 12 month low of $271.58 and a 12 month high of $334.17. The company has a current ratio of 1.59, a quick ratio of 1.59 and a debt-to-equity ratio of 0.91. The firm has a market capitalization of $21.25 billion, a price-to-earnings ratio of 24.07, a PEG ratio of 3.83 and a beta of 0.32. The business has a 50-day moving average of $306.95 and a 200-day moving average of $314.39.

Essex Property Trust (NYSE:ESS) last issued its quarterly earnings data on Wednesday, January 29th. The real estate investment trust reported $1.95 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $3.42 by ($1.47). Essex Property Trust had a return on equity of 6.90% and a net margin of 30.08%. The business had revenue of $375.37 million for the quarter, compared to analysts’ expectations of $373.65 million. During the same period in the previous year, the firm posted $3.19 EPS. On average, analysts predict that Essex Property Trust Inc will post 14.02 earnings per share for the current year.

A number of research analysts have weighed in on the company. BMO Capital Markets lowered Essex Property Trust from a “market perform” rating to an “underperform” rating and reduced their target price for the company from $320.00 to $295.00 in a report on Tuesday, January 28th. Evercore ISI raised Essex Property Trust from an “in-line” rating to an “outperform” rating and set a $341.00 target price for the company in a report on Tuesday, November 19th. Royal Bank of Canada lowered Essex Property Trust from an “outperform” rating to a “sector perform” rating and reduced their target price for the company from $320.00 to $315.00 in a report on Wednesday, December 18th. BTIG Research lowered Essex Property Trust from a “buy” rating to a “neutral” rating in a report on Monday, November 25th. Finally, Sandler O’Neill raised Essex Property Trust from a “hold” rating to a “buy” rating and set a $355.00 target price for the company in a report on Monday, November 18th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and seven have assigned a buy rating to the company’s stock. Essex Property Trust currently has an average rating of “Hold” and a consensus target price of $331.77.

About Essex Property Trust

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

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