Short Interest Watching: Essex Property Trust Incorporated (NYSE:ESS) Stock Is Shorted More

January 11, 2017 - By Richard Conner   ·   0 Comments

Short Interest Watching: Essex Property Trust Incorporated (NYSE:ESS) Stock Is Shorted More

The stock of Essex Property Trust Incorporated (NYSE:ESS) registered an increase of 0.86% in short interest. ESS’s total short interest was 1.97 million shares in January as published by FINRA. Its up 0.86% from 1.95M shares, reported previously. With 383,800 shares average volume, it will take short sellers 5 days to cover their ESS’s short positions. The short interest to Essex Property Trust Incorporated’s float is 3.03%. About 162,437 shares traded hands. Essex Property Trust Inc (NYSE:ESS) has risen 9.99% since June 7, 2016 and is uptrending. It has outperformed by 2.57% the S&P500.

Essex Property Trust, Inc. is a self-administered and self-managed real estate investment trust . The company has a market cap of $14.96 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 50.86 P/E ratio. The Firm is engaged in the ownership, operation, management, acquisition, development and redevelopment of apartment communities.

Insitutional Activity: The institutional sentiment decreased to 0.82 in Q3 2016. Its down 0.22, from 1.04 in 2016Q2. The ratio dived, as 37 funds sold all Essex Property Trust Inc shares owned while 150 reduced positions. 38 funds bought stakes while 116 increased positions. They now own 63.46 million shares or 0.37% less from 63.70 million shares in 2016Q2.
Employees Retirement Systems Of Texas has invested 0.16% of its portfolio in Essex Property Trust Inc (NYSE:ESS). The New York-based Jefferies Gru Limited Liability Corporation has invested 0% in Essex Property Trust Inc (NYSE:ESS). Moreover, Assetmark has 0.11% invested in Essex Property Trust Inc (NYSE:ESS) for 33,817 shares. Wellington Management Group Inc Llp reported 93,717 shares or 0.01% of all its holdings. Global X Management Ltd Liability holds 0.01% or 1,251 shares in its portfolio. Commonwealth Of Pennsylvania Pub School Empls Retrmt accumulated 0.02% or 3,741 shares. Barclays Public Limited Co has invested 0.02% of its portfolio in Essex Property Trust Inc (NYSE:ESS). Mitsubishi Ufj And Bk holds 137,972 shares or 0.06% of its portfolio. Lasalle Invest Mgmt Securities reported 34,200 shares or 0.07% of all its holdings. Ontario Teachers Pension Plan Board, a Ontario – Canada-based fund reported 25,687 shares. New York State Teachers Retirement Sys owns 117,687 shares or 0.07% of their US portfolio. Mufg Americas Corp has 3,999 shares for 0.03% of their US portfolio. Pggm Invests has 0.97% invested in the company for 866,000 shares. Pinebridge Ltd Partnership reported 2,630 shares or 0.03% of all its holdings. Evercore Wealth Mngmt Limited Liability Corporation accumulated 0% or 17 shares.

Insider Transactions: Since August 9, 2016, the stock had 0 buys, and 4 insider sales for $2.07 million net activity. 300 shares were sold by Kleiman Angela L., worth $69,600 on Tuesday, December 27. 2,500 Essex Property Trust Inc (NYSE:ESS) shares with value of $566,025 were sold by EUDY JOHN D. 5,000 Essex Property Trust Inc (NYSE:ESS) shares with value of $1.17 million were sold by GUERICKE KEITH R.

Essex Property Trust Inc (NYSE:ESS) Ratings Coverage

Out of 19 analysts covering Essex Property Trust (NYSE:ESS), 8 rate it a “Buy”, 1 “Sell”, while 10 “Hold”. This means 42% are positive. Essex Property Trust has been the topic of 35 analyst reports since July 21, 2015 according to StockzIntelligence Inc. The stock of Essex Property Trust Inc (NYSE:ESS) earned “Market Outperform” rating by JMP Securities on Thursday, September 17. The rating was initiated by SunTrust on Tuesday, July 21 with “Neutral”. The rating was downgraded by Zelman to “Sell” on Wednesday, January 27. The company was maintained on Wednesday, August 10 by Jefferies. Evercore downgraded Essex Property Trust Inc (NYSE:ESS) on Friday, July 15 to “Hold” rating. The rating was upgraded by Cantor Fitzgerald to “Buy” on Friday, September 18. Jefferies downgraded the stock to “Hold” rating in Wednesday, June 8 report. The stock of Essex Property Trust Inc (NYSE:ESS) earned “Outperform” rating by RBC Capital Markets on Tuesday, February 9. DA Davidson initiated it with “Neutral” rating and $237 target price in Friday, September 18 report. The stock of Essex Property Trust Inc (NYSE:ESS) has “Overweight” rating given on Monday, May 16 by Capital One.

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: Nasdaq.com, which released: “Ex-Dividend Reminder: Essex Property Trust, IBERIABANK and Pebblebrook Hotel Trust” on December 27, 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 Richard Conner

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