Duff Phelps Investment Management Co buys $120,742,237 stake in Essex Property Trust Inc (ESS)

Essex Property Trust Inc (ESS) : Duff Phelps Investment Management Co scooped up 3,300 additional shares in Essex Property Trust Inc during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 3, 2016. The investment management firm now holds a total of 520,082 shares of Essex Property Trust Inc which is valued at $120,742,237.Essex Property Trust Inc makes up approximately 1.89% of Duff Phelps Investment Management Co’s portfolio.

Other Hedge Funds, Including , Municipal Employees’ Retirement System Of Michigan boosted its stake in ESS in the latest quarter, The investment management firm added 30 additional shares and now holds a total of 2,010 shares of Essex Property Trust Inc which is valued at $466,642. Essex Property Trust Inc makes up approx 0.03% of Municipal Employees’ Retirement System Of Michigan’s portfolio.Integrated Wealth Management reduced its stake in ESS by selling 40 shares or 7.39% in the most recent quarter. The Hedge Fund company now holds 501 shares of ESS which is valued at $112,480. Essex Property Trust Inc makes up approx 0.05% of Integrated Wealth Management’s portfolio.Fisher Asset Management boosted its stake in ESS in the latest quarter, The investment management firm added 2,335 additional shares and now holds a total of 35,240 shares of Essex Property Trust Inc which is valued at $7,911,732. Essex Property Trust Inc makes up approx 0.02% of Fisher Asset Management’s portfolio.New York State Teachers Retirement System boosted its stake in ESS in the latest quarter, The investment management firm added 2,742 additional shares and now holds a total of 119,055 shares of Essex Property Trust Inc which is valued at $26,729,038. Essex Property Trust Inc makes up approx 0.07% of New York State Teachers Retirement System’s portfolio.

Essex Property Trust Inc opened for trading at $235 and hit $237.5 on the upside on Tuesday, eventually ending the session at $236.11, with a gain of 1.11% or 2.6 points. The heightened volatility saw the trading volume jump to 5,18,280 shares. Company has a market cap of $15,449 M.

On the company’s financial health, Essex Property Trust Inc reported $2.68 EPS for the quarter, beating the analyst consensus estimate by $ 0.04 according to the earnings call on Apr 28, 2016. Analyst had a consensus of $2.64.Analysts expectations of $ 311.03.During the same quarter in the previous year, the company posted $2.29 EPS.

Many Wall Street Analysts have commented on Essex Property Trust Inc. Essex Property Trust Inc was Upgraded by Raymond James to ” Outperform” on May 5, 2016. Shares were Downgraded by Mizuho on May 2, 2016 to ” Neutral” and Lowered the Price Target to $ 238 from a previous price target of $249 .Essex Property Trust Inc was Downgraded by Sandler O’Neill to ” Hold” on May 2, 2016.

Essex Property Trust Inc. (Essex) is a self-administered and self-managed real estate investment trust (REIT). The Company is engaged primarily in the ownership operation management acquisition development and redevelopment of apartment communities. As of December 31 2014 the Company owned or held an interest in 239 communities aggregating 57455 units located along the West Coast as well as four commercial buildings (totaling approximately 325200 square feet) and 12 active development projects with 2920 units in various stages of development. The Company’s apartment communities are located in Southern California which include Los Angeles Orange Riverside San Diego Santa Barbara and Ventura counties; Northern California which include the San Francisco Bay Area and Seattle Metro which include Seattle metropolitan area.

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