American Century Companies Inc. Sells 11,082 Shares of Essex Property Trust, Inc. $ESS

Key Points

• American Century Companies Inc. reduced its stake in Essex Property Trust by 3.0%, owning 357,773 shares worth approximately $109.68 million as of the latest filing.
• Essex Property Trust's stock is currently valued at $259.56, with a market capitalization of $16.72 billion and recent earnings surpassing estimates with $4.03 EPS.
• Analyst ratings on Essex Property Trust include a consensus of "Hold" with price targets ranging from $279.00 to $307.00, indicating mixed sentiments among research firms.

American Century Companies Inc. decreased its position in Essex Property Trust, Inc. (NYSE:ESS - Free Report) by 3.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 357,773 shares of the real estate investment trust's stock after selling 11,082 shares during the quarter. American Century Companies Inc. owned 0.56% of Essex Property Trust worth $109,683,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Zions Bancorporation National Association UT bought a new position in shares of Essex Property Trust in the 1st quarter valued at about $34,000. GKV Capital Management Co. Inc. bought a new position in Essex Property Trust during the first quarter worth about $35,000. Ameriflex Group Inc. bought a new position in Essex Property Trust during the fourth quarter worth about $59,000. Alpine Bank Wealth Management bought a new position in Essex Property Trust during the first quarter worth about $82,000. Finally, CoreCap Advisors LLC grew its holdings in Essex Property Trust by 17.7% during the fourth quarter. CoreCap Advisors LLC now owns 365 shares of the real estate investment trust's stock worth $104,000 after purchasing an additional 55 shares during the period. Institutional investors own 96.51% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on ESS shares. Royal Bank Of Canada lifted their price target on Essex Property Trust from $306.00 to $307.00 and gave the stock an "outperform" rating in a report on Thursday, July 31st. Wall Street Zen upgraded shares of Essex Property Trust from a "sell" rating to a "hold" rating in a research report on Saturday, August 2nd. Evercore ISI cut their price objective on shares of Essex Property Trust from $285.00 to $279.00 and set an "in-line" rating for the company in a research report on Tuesday, August 12th. Piper Sandler downgraded shares of Essex Property Trust from an "overweight" rating to a "neutral" rating and cut their price objective for the stock from $355.00 to $275.00 in a research report on Monday, August 4th. Finally, Barclays cut their price objective on shares of Essex Property Trust from $335.00 to $298.00 and set an "equal weight" rating for the company in a research report on Tuesday, August 12th. Seven research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Essex Property Trust presently has an average rating of "Hold" and a consensus price target of $302.86.

Essex Property Trust Price Performance

ESS traded up $0.3960 during trading on Thursday, hitting $262.4360. 331,782 shares of the stock traded hands, compared to its average volume of 491,982. Essex Property Trust, Inc. has a twelve month low of $243.85 and a twelve month high of $317.73. The company has a market cap of $16.90 billion, a price-to-earnings ratio of 21.10, a PEG ratio of 6.75 and a beta of 0.80. The company has a debt-to-equity ratio of 1.16, a current ratio of 1.09 and a quick ratio of 1.09. The business has a 50 day moving average price of $276.85 and a 200 day moving average price of $283.69.

Essex Property Trust (NYSE:ESS - Get Free Report) last announced its quarterly earnings data 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 net margin of 43.51% and a return on equity of 13.98%. 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 previous year, the business earned $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 research analysts forecast that Essex Property Trust, Inc. will post 15.96 earnings per share for the current fiscal year.

About Essex Property Trust

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.