Cadence Capital Management LLC Purchases 974 Shares of Essex Property Trust Inc (ESS)

Cadence Capital Management LLC boosted its position in Essex Property Trust Inc (NYSE:ESS) by 22.5% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,302 shares of the real estate investment trust’s stock after purchasing an additional 974 shares during the quarter. Cadence Capital Management LLC’s holdings in Essex Property Trust were worth $1,347,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Schroder Investment Management Group raised its holdings in Essex Property Trust by 134.9% in the 3rd quarter. Schroder Investment Management Group now owns 13,389 shares of the real estate investment trust’s stock valued at $3,388,000 after acquiring an additional 7,690 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its holdings in Essex Property Trust by 10.1% in the 3rd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 5,367 shares of the real estate investment trust’s stock valued at $1,363,000 after acquiring an additional 493 shares in the last quarter. Legal & General Group Plc raised its holdings in Essex Property Trust by 5.0% in the 3rd quarter. Legal & General Group Plc now owns 537,722 shares of the real estate investment trust’s stock valued at $136,580,000 after acquiring an additional 25,779 shares in the last quarter. Great West Life Assurance Co. Can raised its holdings in Essex Property Trust by 2.4% in the 3rd quarter. Great West Life Assurance Co. Can now owns 90,038 shares of the real estate investment trust’s stock valued at $22,755,000 after acquiring an additional 2,131 shares in the last quarter. Finally, Amica Pension Fund Board of Trustees acquired a new position in Essex Property Trust in the 3rd quarter valued at $584,000. Institutional investors and hedge funds own 97.25% of the company’s stock.

In other Essex Property Trust news, insider Craig K. Zimmerman sold 167 shares of the company’s stock in a transaction dated Friday, November 10th. The stock was sold at an average price of $255.50, for a total value of $42,668.50. Following the sale, the insider now owns 10,450 shares in the company, valued at approximately $2,669,975. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Michael J. Schall sold 334 shares of the company’s stock in a transaction dated Friday, November 10th. The shares were sold at an average price of $255.50, for a total value of $85,337.00. Following the completion of the sale, the chief executive officer now owns 45,097 shares in the company, valued at approximately $11,522,283.50. The disclosure for this sale can be found here. In the last ninety days, insiders sold 2,334 shares of company stock valued at $599,759. Insiders own 3.30% of the company’s stock.

ESS has been the subject of several analyst reports. Zacks Investment Research raised Essex Property Trust from a “hold” rating to a “buy” rating and set a $289.00 price objective for the company in a report on Tuesday, October 10th. Cantor Fitzgerald reaffirmed a “buy” rating and issued a $280.00 price objective on shares of Essex Property Trust in a report on Wednesday, September 13th. Robert W. Baird reaffirmed a “buy” rating and issued a $273.00 price objective on shares of Essex Property Trust in a report on Tuesday, September 12th. Stifel Nicolaus began coverage on Essex Property Trust in a report on Friday, September 1st. They set a “buy” rating and a $294.00 price target for the company. Finally, Barclays reissued a “buy” rating and set a $283.00 price target on shares of Essex Property Trust in a report on Thursday, October 19th. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $269.50.

Essex Property Trust Inc (NYSE ESS) opened at $247.04 on Friday. Essex Property Trust Inc has a fifty-two week low of $212.41 and a fifty-two week high of $270.04. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.83 and a quick ratio of 0.83. The stock has a market capitalization of $16,313.78, a PE ratio of 21.11, a price-to-earnings-growth ratio of 3.33 and a beta of 0.50.

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Essex Property Trust 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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