In today’s session Essex Property Trust Inc (ESS) recorded an unusually high (188) contracts volume of put trades. Someone, most probably a professional was a very active buyer of the November, 2016 put, expecting serious ESS decrease. With 188 contracts traded and 4064 open interest for the Nov, 16 contract, it seems this is a quite bearish bet. The option with symbol: ESS161118P00200000 closed last at: $2.95 or 11.3% up. Essex Property Trust Inc (NYSE:ESS) has declined 10.45% since March 29, 2016 and is downtrending. It has underperformed by 13.92% the S&P500.
Analysts await Essex Property Trust Inc (NYSE:ESS) to report earnings on November, 3. They expect $2.77 earnings per share, up 11.24% or $0.28 from last year’s $2.49 per share. ESS’s profit will be $181.22 million for 18.89 P/E if the $2.77 EPS becomes a reality. After $2.74 actual earnings per share reported by Essex Property Trust Inc for the previous quarter, Wall Street now forecasts 1.09% EPS growth.
Essex Property Trust Inc (NYSE:ESS) Ratings Coverage
Out of 17 analysts covering Essex Property Trust (NYSE:ESS), 6 rate it a “Buy”, 1 “Sell”, while 10 “Hold”. This means 35% are positive. $270 is the highest target while $210 is the lowest. The $242.29 average target is 15.78% above today’s ($209.26) stock price. Essex Property Trust has been the topic of 32 analyst reports since July 21, 2015 according to StockzIntelligence Inc. The firm has “Market Perform” rating given on Tuesday, January 12 by Cowen & Co. The firm earned “Neutral” rating on Friday, September 18 by DA Davidson. JMP Securities initiated Essex Property Trust Inc (NYSE:ESS) on Thursday, September 17 with “Market Outperform” rating. As per Thursday, August 25, the company rating was initiated by BTIG Research. Cantor Fitzgerald upgraded Essex Property Trust Inc (NYSE:ESS) rating on Friday, September 18. Cantor Fitzgerald has “Buy” rating and $251 price target. The firm earned “Hold” rating on Wednesday, June 8 by Jefferies. The rating was downgraded by Mizuho on Monday, May 2 to “Neutral”. The stock of Essex Property Trust Inc (NYSE:ESS) has “Hold” rating given on Tuesday, February 9 by Canaccord Genuity. The rating was downgraded by Sandler O’Neill to “Hold” on Monday, May 2. On Wednesday, August 10 the stock rating was maintained by Jefferies with “Hold”.
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.”
Insitutional Activity: The institutional sentiment decreased to 1.04 in 2016 Q2. Its down 0.11, from 1.15 in 2016Q1. The ratio dropped, as 32 funds sold all Essex Property Trust Inc shares owned while 142 reduced positions. 41 funds bought stakes while 140 increased positions. They now own 63.70 million shares or 5.28% less from 67.25 million shares in 2016Q1.
Hsbc Plc reported 158,373 shares or 0.1% of all its holdings. American Tx reported 20,000 shares or 0.27% of all its holdings. Parametric Port Assoc Limited Liability has 69,196 shares for 0.02% of their US portfolio. Envestnet Asset Mgmt Incorporated holds 0.03% of its portfolio in Essex Property Trust Inc (NYSE:ESS) for 35,990 shares. Retirement Of Alabama has invested 0.04% of its portfolio in Essex Property Trust Inc (NYSE:ESS). Dimensional Fund Lp last reported 0.11% of its portfolio in the stock. Phocas Fincl last reported 0.07% of its portfolio in the stock. Blackrock Limited Liability, a Delaware-based fund reported 69,942 shares. Blackrock Group Limited holds 913,137 shares or 0.11% of its portfolio. Schroder Investment Mgmt Grp, a Maine-based fund reported 214,636 shares. Clifford Swan Invest Counsel Ltd Company accumulated 11,411 shares or 0.18% of the stock. Tru Of Vermont has invested 0.05% of its portfolio in Essex Property Trust Inc (NYSE:ESS). Alpine Woods Cap Limited Liability Corp has invested 0.33% of its portfolio in Essex Property Trust Inc (NYSE:ESS). Ibm Retirement Fund holds 0.07% or 7,727 shares in its portfolio. Geode Cap Mngmt Ltd Llc last reported 620,287 shares in the company.
Insider Transactions: Since May 5, 2016, the stock had 0 insider buys, and 4 selling transactions for $4.57 million net activity. On Thursday, September 1 EUDY JOHN D sold $566,025 worth of the stock or 2,500 shares. 5,000 shares with value of $1.17M were sold by GUERICKE KEITH R on Tuesday, August 9. $2.22M worth of Essex Property Trust Inc (NYSE:ESS) was sold by SCHALL MICHAEL J on Tuesday, July 5. $612,378 worth of shares were sold by LYONS IRVING F III on Thursday, May 5.
Essex Property Trust, Inc. is a self-administered and self-managed real estate investment trust . The company has a market cap of $13.69 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 50.42 P/E ratio. The Firm is engaged in the ownership, operation, management, acquisition, development and redevelopment of apartment communities.
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.
Another recent and important Essex Property Trust Inc (NYSE:ESS) news was published by Nasdaq.com which published an article titled: “Agree To Purchase Essex Property Trust At $175, Earn 3.9% Annualized Using Options” on October 27, 2016.
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