Essex Property Trust Inc (ESS) was Downgraded by Sandler O’Neill to ” Hold”. Earlier the firm had a rating of “Buy ” on the company shares. Sandler O’Neill advised their investors in a research report released on May 2, 2016.
Many Wall Street Analysts have commented on Essex Property Trust Inc. 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 .Sun Trust Rbsn Humphrey Upgraded Essex Property Trust Inc on Mar 4, 2016 to ” Buy”, Price Target of the shares are set at $257.Shares were Reiterated by Canaccord Genuity on Feb 9, 2016 to “Hold” and Lowered the Price Target to $ 214 from a previous price target of $244 .
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.
Essex Property Trust Inc closed down -0.78 points or -0.35% at $224.65 with 5,55,951 shares getting traded on Wednesday. Post opening the session at $223.77, the shares hit an intraday low of $220.94 and an intraday high of $225 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.
In a different news, on Mar 1, 2016, David W Brady (director) purchased 722 shares at $223.82 per share price. According to the SEC, on Dec 18, 2015, John F. Burkart (Sr. Executive Vice President) sold 3,000 shares at $236.85 per share price. On Dec 16, 2015, Angela L. Kleiman (Executive Vice President & CFO) sold 1,800 shares at $233.25 per share price, according to the Form-4 filing with the securities and exchange commission.
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.