Essex Property Trust, Inc. (ESS) Shares Bought by Solaris Asset Management LLC

Solaris Asset Management LLC increased its stake in Essex Property Trust, Inc. (NYSE:ESS) by 3.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,095 shares of the real estate investment trust’s stock after buying an additional 35 shares during the period. Solaris Asset Management LLC’s holdings in Essex Property Trust were worth $282,000 as of its most recent filing with the SEC.

A number of other hedge funds have also modified their holdings of the company. Chevy Chase Trust Holdings Inc. boosted its stake in shares of Essex Property Trust by 3.2% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 56,508 shares of the real estate investment trust’s stock valued at $13,083,000 after buying an additional 1,761 shares during the period. Creative Planning boosted its stake in shares of Essex Property Trust by 2.1% in the first quarter. Creative Planning now owns 4,507 shares of the real estate investment trust’s stock valued at $1,044,000 after buying an additional 94 shares during the period. Gulf International Bank UK Ltd boosted its stake in shares of Essex Property Trust by 1.5% in the first quarter. Gulf International Bank UK Ltd now owns 20,350 shares of the real estate investment trust’s stock valued at $4,711,000 after buying an additional 300 shares during the period. National Pension Service boosted its stake in shares of Essex Property Trust by 7.2% in the first quarter. National Pension Service now owns 58,109 shares of the real estate investment trust’s stock valued at $13,514,000 after buying an additional 3,888 shares during the period. Finally, Bank of Montreal Can boosted its stake in shares of Essex Property Trust by 139.6% in the first quarter. Bank of Montreal Can now owns 950,717 shares of the real estate investment trust’s stock valued at $220,119,000 after buying an additional 553,947 shares during the period. Institutional investors and hedge funds own 99.74% of the company’s stock.

Essex Property Trust, Inc. (ESS) traded down 0.70% on Friday, hitting $260.76. 670,628 shares of the company were exchanged. Essex Property Trust, Inc. has a 52 week low of $200.01 and a 52 week high of $268.97. The stock has a 50 day moving average of $260.59 and a 200 day moving average of $247.00. The company has a market capitalization of $17.21 billion, a price-to-earnings ratio of 33.53 and a beta of 0.52.

Essex Property Trust (NYSE:ESS) last announced its quarterly earnings results on Thursday, July 27th. The real estate investment trust reported $2.97 earnings per share for the quarter, beating the consensus estimate of $2.92 by $0.05. The company had revenue of $339.06 million during the quarter, compared to analysts’ expectations 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 last year, the business earned $2.74 earnings per share. Analysts predict that Essex Property Trust, Inc. will post $5.95 EPS for the current fiscal year.

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Several brokerages have recently commented on ESS. Jefferies Group LLC restated a “hold” rating and issued a $234.00 target price on shares of Essex Property Trust in a research report on Tuesday, May 30th. Royal Bank Of Canada restated a “buy” rating and issued a $267.00 target price on shares of Essex Property Trust in a research report on Sunday, July 16th. Zacks Investment Research upgraded shares of Essex Property Trust from a “hold” rating to a “buy” rating and set a $283.00 target price for the company in a research report on Tuesday, July 11th. Mizuho cut shares of Essex Property Trust from a “buy” rating to a “neutral” rating and set a $283.00 target price for the company. in a research report on Monday, July 31st. Finally, Cantor Fitzgerald reaffirmed a “buy” rating and set a $269.00 price target on shares of Essex Property Trust in a report on Wednesday, May 3rd. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $264.36.

In other Essex Property Trust news, insider John D. Eudy sold 166 shares of the firm’s stock in a transaction that occurred on Wednesday, July 12th. The stock was sold at an average price of $253.79, for a total value of $42,129.14. Following the sale, the insider now directly owns 8,596 shares of the company’s stock, valued at $2,181,578.84. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Janice L. Sears sold 3,000 shares of Essex Property Trust stock in a transaction that occurred on Monday, May 22nd. The stock was sold at an average price of $253.92, for a total value of $761,760.00. Following the completion of the sale, the director now directly owns 3,698 shares in the company, valued at $938,996.16. The disclosure for this sale can be found here. Over the last three months, insiders sold 5,499 shares of company stock worth $1,414,277. 3.30% of the stock is owned by corporate insiders.

About Essex Property Trust

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.

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

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