Cambridge Investment Research Advisors Inc. Buys 95 Shares of Essex Property Trust, Inc. (ESS)

Cambridge Investment Research Advisors Inc. lifted its stake in Essex Property Trust, Inc. (NYSE:ESS) by 5.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,843 shares of the real estate investment trust’s stock after purchasing an additional 95 shares during the quarter. Cambridge Investment Research Advisors Inc.’s holdings in Essex Property Trust were worth $474,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of ESS. Muzinich & Co. Inc. increased its holdings in shares of Essex Property Trust by 246.5% in the first quarter. Muzinich & Co. Inc. now owns 551 shares of the real estate investment trust’s stock valued at $128,000 after purchasing an additional 392 shares during the last quarter. Advisors Asset Management Inc. increased its holdings in shares of Essex Property Trust by 118.0% in the first quarter. Advisors Asset Management Inc. now owns 654 shares of the real estate investment trust’s stock valued at $151,000 after purchasing an additional 354 shares during the last quarter. FNY Partners Fund LP acquired a new stake in shares of Essex Property Trust in the first quarter valued at approximately $165,000. Perigon Wealth Management LLC increased its holdings in shares of Essex Property Trust by 835.2% in the first quarter. Perigon Wealth Management LLC now owns 823 shares of the real estate investment trust’s stock valued at $192,000 after purchasing an additional 735 shares during the last quarter. Finally, Warren Averett Asset Management LLC acquired a new stake in shares of Essex Property Trust in the first quarter valued at approximately $201,000. 99.55% of the stock is owned by hedge funds and other institutional investors.

ESS has been the subject of several recent analyst reports. Royal Bank Of Canada reissued an “outperform” rating and set a $276.00 target price (up previously from $267.00) on shares of Essex Property Trust in a research note on Sunday, August 13th. Robert W. Baird reissued a “buy” rating and set a $273.00 target price on shares of Essex Property Trust in a research note on Tuesday. BidaskClub raised Essex Property Trust from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, August 22nd. Morgan Stanley raised their target price on Essex Property Trust from $260.00 to $267.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 16th. Finally, Canaccord Genuity set a $270.00 target price on Essex Property Trust and gave the stock a “hold” rating in a research note on Monday, July 31st. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. Essex Property Trust currently has an average rating of “Hold” and an average target price of $267.93.

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In related news, insider Craig K. Zimmerman sold 167 shares of the stock in a transaction on Monday, September 11th. The stock was sold at an average price of $267.02, for a total value of $44,592.34. Following the completion of the sale, the insider now directly owns 10,450 shares in the company, valued at approximately $2,790,359. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Byron A. Scordelis sold 6,265 shares of the stock in a transaction on Thursday, August 24th. The shares were sold at an average price of $267.39, for a total value of $1,675,198.35. Following the completion of the sale, the director now owns 4,986 shares of the company’s stock, valued at $1,333,206.54. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 11,314 shares of company stock valued at $2,999,949. Insiders own 3.30% of the company’s stock.

Essex Property Trust, Inc. (NYSE:ESS) opened at 264.59 on Wednesday. The stock has a market capitalization of $17.46 billion, a price-to-earnings ratio of 34.02 and a beta of 0.53. Essex Property Trust, Inc. has a 52-week low of $200.01 and a 52-week high of $270.04. The stock’s 50 day moving average price is $264.20 and its 200 day moving average price is $251.57.

Essex Property Trust (NYSE:ESS) last released its quarterly earnings data on Thursday, July 27th. The real estate investment trust reported $2.97 EPS for the quarter, topping analysts’ consensus estimates of $2.92 by $0.05. The business had revenue of $339.06 million during the quarter, compared to the consensus estimate of $336.17 million. Essex Property Trust had a return on equity of 8.03% and a net margin of 38.33%. During the same period in the prior year, the firm posted $2.74 EPS. On average, analysts forecast that Essex Property Trust, Inc. will post $5.89 EPS for the current year.

Essex Property Trust Company 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.

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

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