Notable Runner: Institutional Investors Are Dumping Essex Property Trust Inc (NYSE:ESS)

November 29, 2016 - By Adrian Mccoy   ·   0 Comments

Notable Runner: Institutional Investors Are Dumping Essex Property Trust Inc (NYSE:ESS)

Sentiment for Essex Property Trust Inc (NYSE:ESS)

Essex Property Trust Inc (NYSE:ESS) institutional sentiment decreased to 0.82 in Q2 2016. Its down -0.22, from 1.04 in 2016Q1. The ratio dived, as 181 active investment managers increased and opened new holdings, while 174 reduced and sold equity positions in Essex Property Trust Inc. The active investment managers in our partner’s database now own: 63.70 million shares, down from 67.25 million shares in 2016Q1. Also, the number of active investment managers holding Essex Property Trust Inc in their top 10 holdings decreased from 11 to 10 for a decrease of 1. Sold All: 32 Reduced: 142 Increased: 140 New Position: 41.

Essex Property Trust, Inc. is a self-administered and self-managed real estate investment trust . The company has a market cap of $14.19 billion. The Firm owns all of its interest in its real estate and other investments directly or indirectly through Essex Portfolio, L.P. (the Operating Partnership). It has a 47.85 P/E ratio. The Firm is engaged in the ownership, operation, management, acquisition, development and redevelopment of apartment communities.

The stock increased 1.19% or $2.53 during the last trading session, hitting $215.36. Essex Property Trust Inc (NYSE:ESS) has declined 4.47% since April 26, 2016 and is downtrending. It has underperformed by 9.73% the S&P500.

Analysts await Essex Property Trust Inc (NYSE:ESS) to report earnings on February, 2. They expect $2.82 earnings per share, up 7.22% or $0.19 from last year’s $2.63 per share. ESS’s profit will be $185.81 million for 19.09 P/E if the $2.82 EPS becomes a reality. After $2.81 actual earnings per share reported by Essex Property Trust Inc for the previous quarter, Wall Street now forecasts 0.36% EPS growth.

According to Zacks Investment Research, “ESSEX PROPERTY TRUST, INC. is a self-administered and self-managed real estate investment trust, engaged in the acquisition, refurbishing, marketing, leasing, management, development and construction of multifamily residential and retail properties.”

Presima Inc. holds 6.25% of its portfolio in Essex Property Trust Inc for 173,900 shares. Adelante Capital Management Llc owns 581,523 shares or 6.11% of their US portfolio. Moreover, Long Pond Capital Lp has 4.7% invested in the company for 440,258 shares. The Connecticut-based Cornerstone Real Estate Advisers Llc has invested 4.39% in the stock. Harrison Street Securities Llc, a Illinois-based fund reported 5,796 shares.#img1#

Insider Transactions: Since January 1, 0001, the stock had 0 insider buys, and 3 insider sales for $3.96 million net activity.

Essex Property Trust Inc (NYSE:ESS) Ratings Coverage

Ratings analysis reveals 39% of Essex Property Trust’s analysts are positive. Out of 18 Wall Street analysts rating Essex Property Trust, 7 give it “Buy”, 1 “Sell” rating, while 10 recommend “Hold”. The lowest target is $210 while the high is $270. The stock’s average target of $242.29 is 12.50% above today’s ($215.36) share price. ESS was included in 34 notes of analysts from July 21, 2015. JMP Securities initiated it with “Market Outperform” rating and $240 target price in Thursday, September 17 report. The stock of Essex Property Trust Inc (NYSE:ESS) earned “Hold” rating by Sandler O’Neill on Monday, May 2. Canaccord Genuity maintained the stock with “Hold” rating in Tuesday, February 9 report. Evercore maintained the shares of ESS in a report on Tuesday, September 8 with “Buy” rating. The company was downgraded on Tuesday, January 12 by Cowen & Co. Capital One upgraded Essex Property Trust Inc (NYSE:ESS) on Monday, May 16 to “Overweight” rating. The stock has “Neutral” rating given by SunTrust on Tuesday, July 21. The stock of Essex Property Trust Inc (NYSE:ESS) has “Outperform” rating given on Tuesday, August 4 by RBC Capital Markets. The company was downgraded on Monday, May 2 by Mizuho. Canaccord Genuity maintained the stock with “Hold” rating in Monday, October 31 report.

ESS Company Profile

Essex Property Trust, Inc. (Essex), incorporated on March 11, 1994, is a self-administered and self-managed real estate investment trust (REIT). The Firm owns all of its interest in its real estate and other investments directly or indirectly through Essex Portfolio, L.P. (the Operating Partnership). The Firm is engaged primarily in the ownership, operation, management, acquisition, development and redevelopment of apartment communities. The Company’s divisions are Southern California, Northern California and Seattle Metro. The Firm owns or holds an interest in over 250 communities, aggregating approximately 59,160 apartment homes, located along the West Coast, as well as over four commercial buildings (totaling approximately 319,080 square feet), and over eight active development projects with approximately 2,450 apartment homes in various stages of development. The Firm invests primarily in apartment communities located in predominantly coastal markets within Southern California, the San Francisco Bay Area and the Seattle metropolitan area.

More news for Essex Property Trust Inc (NYSE:ESS) were recently published by: Forbes.com, which released: “Ex-Dividend Reminder: Annaly Capital , Corporate Office Properties Trust and …” on September 26, 2016. Marketwired.com‘s article titled: “Essex Property Trust, Inc. Announces the Redemption of Its 7.125% Series H …” and published on March 10, 2016 is yet another important article.

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By Adrian Mccoy


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