Solaris Asset Management Lowers stake in Essex Property Trust Inc (ESS)

Essex Property Trust Inc (ESS) : Solaris Asset Management reduced its stake in Essex Property Trust Inc by 7.94% during the most recent quarter end. The investment management company now holds a total of 1,160 shares of Essex Property Trust Inc which is valued at $253,820 after selling 100 shares in Essex Property Trust Inc , the firm said in a disclosure report filed with the SEC on Jul 26, 2016.Essex Property Trust Inc makes up approximately 0.18% of Solaris Asset Management’s portfolio.

Other Hedge Funds, Including , Boston Advisors sold out all of its stake in ESS during the most recent quarter. The investment firm sold 3,204 shares of ESS which is valued $701,067. Huntington National Bank sold out all of its stake in ESS during the most recent quarter. The investment firm sold 165 shares of ESS which is valued $36,104.Ibm Retirement Fund boosted its stake in ESS in the latest quarter, The investment management firm added 32 additional shares and now holds a total of 7,727 shares of Essex Property Trust Inc which is valued at $1,753,952. Essex Property Trust Inc makes up approx 0.06% of Ibm Retirement Fund’s portfolio.

Essex Property Trust Inc opened for trading at $221.47 and hit $234.27 on the upside on Friday, eventually ending the session at $233.88, with a gain of 6.02% or 13.29 points. The heightened volatility saw the trading volume jump to 11,34,629 shares. Company has a market cap of $15,303 M.

On the company’s financial health, Essex Property Trust Inc reported $2.74 EPS for the quarter, beating the analyst consensus estimate by $ 0.04 according to the earnings call on Jul 28, 2016. Analyst had a consensus of $2.70.Analysts expectations of $ 318.82.During the same quarter in the previous year, the company posted $2.40 EPS.

Many Wall Street Analysts have commented on Essex Property Trust Inc. Essex Property Trust Inc was Downgraded by Jefferies to ” Hold” on Jun 8, 2016. Essex Property Trust Inc was Upgraded by CapitalOne to ” Overweight” on May 16, 2016. Essex Property Trust Inc was Upgraded by Raymond James to ” Outperform” on May 5, 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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