Walleye Capital LLC Takes $1.42 Million Position in Essex Property Trust, Inc. $ESS

Key Points

• Walleye Capital LLC has acquired 4,636 shares of Essex Property Trust, Inc., valued at approximately $1.42 million.
• Essex Property Trust posted an EPS of $4.03 for the last quarter, surpassing analysts' expectations by $0.04.
• The company's stocks have seen a 52-week range between $243.85 and $317.73, with current trading at $270.49.

Walleye Capital LLC purchased a new position in Essex Property Trust, Inc. (NYSE:ESS - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 4,636 shares of the real estate investment trust's stock, valued at approximately $1,421,000.

Several other institutional investors and hedge funds also recently modified their holdings of ESS. Nebula Research & Development LLC bought a new position in shares of Essex Property Trust in the fourth quarter worth $206,000. Caisse DE Depot ET Placement DU Quebec bought a new position in shares of Essex Property Trust in the fourth quarter worth $10,519,000. Mercer Global Advisors Inc. ADV grew its stake in shares of Essex Property Trust by 121.8% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 11,549 shares of the real estate investment trust's stock worth $3,297,000 after purchasing an additional 6,342 shares in the last quarter. DoubleLine ETF Adviser LP grew its stake in shares of Essex Property Trust by 0.8% in the fourth quarter. DoubleLine ETF Adviser LP now owns 4,624 shares of the real estate investment trust's stock worth $1,320,000 after purchasing an additional 38 shares in the last quarter. Finally, Ameriprise Financial Inc. grew its stake in shares of Essex Property Trust by 3.2% in the fourth quarter. Ameriprise Financial Inc. now owns 801,813 shares of the real estate investment trust's stock worth $227,398,000 after purchasing an additional 24,936 shares in the last quarter. Institutional investors own 96.51% of the company's stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Barclays decreased their price target on Essex Property Trust from $335.00 to $298.00 and set an "equal weight" rating for the company in a research note on Tuesday, August 12th. Scotiabank decreased their price target on Essex Property Trust from $320.00 to $309.00 and set a "sector outperform" rating for the company in a research note on Tuesday, August 5th. Wall Street Zen raised Essex Property Trust from a "sell" rating to a "hold" rating in a research note on Saturday, August 2nd. Truist Financial decreased their target price on Essex Property Trust from $295.00 to $283.00 and set a "hold" rating for the company in a research note on Tuesday, August 12th. Finally, Morgan Stanley decreased their target price on Essex Property Trust from $304.00 to $285.00 and set an "equal weight" rating for the company in a research note on Wednesday, August 13th. Seven analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $301.42.

Essex Property Trust Price Performance

ESS stock traded up $0.47 during trading hours on Wednesday, hitting $261.07. 166,313 shares of the stock traded hands, compared to its average volume of 485,313. The stock has a 50-day simple moving average of $273.47 and a 200 day simple moving average of $282.10. Essex Property Trust, Inc. has a one year low of $243.85 and a one year high of $317.73. The company has a market cap of $16.81 billion, a P/E ratio of 20.92, a P/E/G ratio of 6.95 and a beta of 0.83. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 1.16.

Essex Property Trust (NYSE:ESS - Get Free Report) last announced its earnings results on Tuesday, July 29th. The real estate investment trust reported $4.03 EPS for the quarter, beating the consensus estimate of $3.99 by $0.04. Essex Property Trust had a return on equity of 13.98% and a net margin of 43.51%.The business had revenue of $465.84 million during the quarter, compared to the consensus estimate of $466.47 million. During the same period in the prior year, the business posted $3.94 earnings per share. Essex Property Trust has set its Q3 2025 guidance at 3.890-3.990 EPS. FY 2025 guidance at 15.800-16.020 EPS. Equities analysts forecast that Essex Property Trust, Inc. will post 15.96 earnings per share for the current year.

Essex Property Trust Company Profile

Essex Property Trust, Inc, an S&P 500 company, is a fully integrated real estate investment trust (REIT) that acquires, develops, redevelops, and manages multifamily residential properties in selected West Coast markets. Essex currently has ownership interests in 252 apartment communities comprising approximately 62,000 apartment homes with an additional property in active development.