Large Inflow of Money Detected in Essex Property Trust

Essex Property Trust (ESS) : Essex Property Trust (ESS) had a healthy money flow of $5.87 million into the stock during the Wednesdays trading session. The value of bullish trades on upticks was $15.58 million, whereas, investors only sold shares worth $9.71 million on downticks. The stock closed the day with an up-down ratio of 1.6.The money flow in the block trades to the tune of $5.06 million shows that the bulls were dominant, the large players used the weakness in the stock to accumulate it for the long-term. $5.06 million worth of transactions were on upticks. Essex Property Trust (ESS) stock slid $0.24 intraday and traded at 226.35, a change of -0.11% over previous days close. However, for the week, the company shares are -0.11% compared to previous weeks close.


Also, Evercore Partners downgrades their rating on the shares of Essex Property Trust (NYSE:ESS). The current rating of the shares is Hold. Earlier, the shares were rated a Buy by the brokerage firm. The rating by the firm was issued on July 15, 2016.

Essex Property Trust (NYSE:ESS): The stock opened at $226.70 on Wednesday but the bulls could not build on the opening and the stock topped out at $226.70 for the day. The stock traded down to $224.31 during the day, due to lack of any buying support eventually closed down at $226.35 with a loss of -0.11% for the day. The stock had closed at $226.59 on the previous day. The total traded volume was 257,990 shares.

The stock has recorded a 20-day Moving Average of 0.2% and the 50-Day Moving Average is 2.02%. In a related news,The officer (President and CEO) of Essex Property Trust Inc, Schall Michael J sold 10,000 shares at $225.03 on July 5, 2016. The Insider selling transaction had a total value worth of $2,250,300. The Insider information was disclosed with the Securities and Exchange Commission in a Form 4 filing.

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 57,455 units, located along the West Coast, as well as four commercial buildings (totaling approximately 325,200 square feet), and 12 active development projects with 2,920 units in various stages of development. The Companys 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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