Essex Property Trust, Inc. (NYSE:ESS) Shares Sold by WESCAP Management Group Inc.

WESCAP Management Group Inc. lessened its holdings in shares of Essex Property Trust, Inc. (NYSE:ESS) by 46.8% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,014 shares of the real estate investment trust’s stock after selling 891 shares during the quarter. WESCAP Management Group Inc.’s holdings in Essex Property Trust were worth $300,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. CWM LLC grew its stake in Essex Property Trust by 36.4% in the second quarter. CWM LLC now owns 1,582 shares of the real estate investment trust’s stock worth $431,000 after purchasing an additional 422 shares in the last quarter. Czech National Bank grew its position in shares of Essex Property Trust by 8.3% in the 2nd quarter. Czech National Bank now owns 12,235 shares of the real estate investment trust’s stock worth $3,330,000 after acquiring an additional 939 shares in the last quarter. Aurora Investment Managers LLC. increased its holdings in shares of Essex Property Trust by 8.6% in the 2nd quarter. Aurora Investment Managers LLC. now owns 11,343 shares of the real estate investment trust’s stock valued at $3,088,000 after acquiring an additional 902 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its position in shares of Essex Property Trust by 5.1% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 7,058 shares of the real estate investment trust’s stock valued at $1,921,000 after acquiring an additional 343 shares in the last quarter. Finally, ORG Partners LLC bought a new position in Essex Property Trust during the second quarter worth $743,000. 96.51% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Amal M. Johnson sold 7,298 shares of the firm’s stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $316.31, for a total value of $2,308,430.38. Following the completion of the transaction, the director now owns 2,585 shares of the company’s stock, valued at approximately $817,661.35. This trade represents a 73.84 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Angela L. Kleiman sold 8,080 shares of Essex Property Trust stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $315.10, for a total transaction of $2,546,008.00. Following the transaction, the chief executive officer now owns 9,494 shares in the company, valued at approximately $2,991,559.40. The trade was a 45.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 17,949 shares of company stock worth $5,663,763. Corporate insiders own 3.80% of the company’s stock.

Essex Property Trust Trading Down 0.6 %

Shares of ESS stock opened at $299.67 on Friday. The stock has a 50-day simple moving average of $297.21 and a 200 day simple moving average of $287.98. The stock has a market capitalization of $19.26 billion, a P/E ratio of 35.01, a P/E/G ratio of 5.92 and a beta of 0.90. Essex Property Trust, Inc. has a fifty-two week low of $221.59 and a fifty-two week high of $317.73. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 1.13.

Essex Property Trust (NYSE:ESS) last posted its quarterly earnings data on Tuesday, October 29th. The real estate investment trust reported $1.84 earnings per share for the quarter, missing the consensus estimate of $3.88 by ($2.04). Essex Property Trust had a net margin of 31.55% and a return on equity of 9.72%. The business had revenue of $450.70 million for the quarter, compared to the consensus estimate of $445.88 million. During the same quarter last year, the business posted $3.78 EPS. On average, sell-side analysts expect that Essex Property Trust, Inc. will post 15.56 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on ESS. BNP Paribas began coverage on shares of Essex Property Trust in a report on Wednesday, September 11th. They set an “outperform” rating and a $333.00 target price on the stock. Piper Sandler raised their target price on shares of Essex Property Trust from $315.00 to $355.00 and gave the stock an “overweight” rating in a report on Monday, August 26th. Bank of America lowered Essex Property Trust from a “buy” rating to a “neutral” rating and upped their target price for the company from $307.00 to $321.00 in a report on Tuesday, September 24th. Truist Financial raised their price target on Essex Property Trust from $282.00 to $294.00 and gave the stock a “hold” rating in a report on Tuesday, August 27th. Finally, The Goldman Sachs Group assumed coverage on Essex Property Trust in a research note on Wednesday, September 4th. They set a “neutral” rating and a $318.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $297.00.

Essex Property Trust Company 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. Essex currently has ownership interests in 252 apartment communities comprising approximately 62,000 apartment homes with an additional property in active development.