WESCAP Management Group Inc. Has $300,000 Stake in Essex Property Trust, Inc. (NYSE:ESS)

WESCAP Management Group Inc. trimmed its stake in Essex Property Trust, Inc. (NYSE:ESS) by 46.8% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). 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 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. CWM LLC boosted its stake in shares of Essex Property Trust by 36.4% during the 2nd quarter. CWM LLC now owns 1,582 shares of the real estate investment trust’s stock valued at $431,000 after buying an additional 422 shares during the period. Czech National Bank raised its holdings in shares of Essex Property Trust by 8.3% during the second 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. boosted its position in Essex Property Trust by 8.6% during the second quarter. Aurora Investment Managers LLC. now owns 11,343 shares of the real estate investment trust’s stock valued at $3,088,000 after purchasing an additional 902 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its stake in Essex Property Trust by 5.1% in the second 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 purchasing an additional 343 shares in the last quarter. Finally, ORG Partners LLC acquired a new position in Essex Property Trust in the 2nd quarter worth about $743,000. 96.51% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CAO Anne Morrison sold 2,571 shares of the stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $314.79, for a total transaction of $809,325.09. Following the completion of the sale, the chief accounting officer now owns 2,321 shares in the company, valued at $730,627.59. This trade represents a 52.56 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Amal M. Johnson sold 7,298 shares of the business’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $316.31, for a total transaction of $2,308,430.38. Following the completion of the transaction, the director now owns 2,585 shares in the company, valued at approximately $817,661.35. This trade represents a 73.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 17,949 shares of company stock valued at $5,663,763 over the last quarter. Corporate insiders own 3.80% of the company’s stock.

Essex Property Trust Stock Performance

ESS opened at $299.67 on Friday. The stock has a market cap of $19.26 billion, a PE ratio of 35.01, a P/E/G ratio of 5.92 and a beta of 0.90. Essex Property Trust, Inc. has a 1 year low of $221.59 and a 1 year high of $317.73. The stock’s 50 day simple moving average is $297.21 and its 200-day simple moving average is $287.98. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 1.13.

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

Wall Street Analysts Forecast Growth

ESS has been the subject of several research reports. Deutsche Bank Aktiengesellschaft lifted their price target on Essex Property Trust from $240.00 to $308.00 and gave the company a “hold” rating in a report on Tuesday, September 10th. Raymond James lowered shares of Essex Property Trust from an “outperform” rating to a “market perform” rating in a research note on Monday, October 21st. BNP Paribas initiated coverage on Essex Property Trust in a research note on Wednesday, September 11th. They set an “outperform” rating and a $333.00 price target for the company. JPMorgan Chase & Co. raised their price objective on Essex Property Trust from $265.00 to $297.00 and gave the company a “neutral” rating in a research note on Monday, September 16th. Finally, The Goldman Sachs Group began coverage on Essex Property Trust in a report on Wednesday, September 4th. They set a “neutral” rating and a $318.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $297.00.

Essex Property Trust 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.