CIBC Asset Management Inc Has $1.82 Million Position in Essex Property Trust, Inc. (NYSE:ESS)

CIBC Asset Management Inc increased its stake in Essex Property Trust, Inc. (NYSE:ESS) by 0.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,065 shares of the real estate investment trust’s stock after buying an additional 24 shares during the period. CIBC Asset Management Inc’s holdings in Essex Property Trust were worth $1,818,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of ESS. Bbva Compass Bancshares Inc. raised its position in Essex Property Trust by 1.4% in the second quarter. Bbva Compass Bancshares Inc. now owns 1,140 shares of the real estate investment trust’s stock valued at $293,000 after buying an additional 16 shares during the last quarter. IBM Retirement Fund raised its position in Essex Property Trust by 120.1% in the second quarter. IBM Retirement Fund now owns 1,602 shares of the real estate investment trust’s stock valued at $461,000 after buying an additional 874 shares during the last quarter. Bowling Portfolio Management LLC bought a new position in Essex Property Trust during the second quarter valued at about $1,030,000. Shell Asset Management Co. raised its position in Essex Property Trust by 3.3% in the second quarter. Shell Asset Management Co. now owns 8,430 shares of the real estate investment trust’s stock valued at $2,169,000 after buying an additional 268 shares during the last quarter. Finally, Contravisory Investment Management Inc. raised its position in Essex Property Trust by 203.5% in the second quarter. Contravisory Investment Management Inc. now owns 1,035 shares of the real estate investment trust’s stock valued at $266,000 after buying an additional 694 shares during the last quarter. Institutional investors and hedge funds own 99.74% of the company’s stock.

Shares of Essex Property Trust, Inc. (NYSE ESS) traded down 0.70% during mid-day trading on Friday, hitting $260.76. The company had a trading volume of 670,628 shares. The company has a 50-day moving average price of $260.59 and a 200-day moving average price of $247.00. Essex Property Trust, Inc. has a 1-year low of $200.01 and a 1-year high of $268.97. 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 issued its quarterly earnings data on Thursday, July 27th. The real estate investment trust reported $2.97 EPS for the quarter, beating the consensus estimate of $2.92 by $0.05. The firm had revenue of $339.06 million during the quarter, compared to analyst estimates 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 quarter in the prior year, the business posted $2.74 EPS. On average, equities analysts anticipate that Essex Property Trust, Inc. will post $5.95 EPS for the current year.

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

In related news, insider John D. Eudy sold 166 shares of the firm’s stock in a transaction 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 completion of the transaction, the insider now owns 8,596 shares in the company, valued at approximately $2,181,578.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider John D. Eudy sold 167 shares of the firm’s stock in a transaction on Thursday, August 10th. The stock was sold at an average price of $263.97, for a total value of $44,082.99. Following the completion of the transaction, the insider now owns 8,597 shares of the company’s stock, valued at approximately $2,269,350.09. The disclosure for this sale can be found here. Insiders sold a total of 5,499 shares of company stock valued at $1,414,277 in the last 90 days. 3.30% of the stock is currently owned by company 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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