APG Asset Management N.V. Sells 3,500 Shares of Essex Property Trust, Inc. $ESS

Key Points

• APG Asset Management N.V. has reduced its holdings in Essex Property Trust, Inc. by 5.1%, now owning approximately 0.10% of the company's stock, valued at about $18.45 million.
• Several institutional investors have increased their stakes in Essex Property Trust, notably Adage Capital Partners, which raised its position by 277.8% in the last quarter.
• Essex Property Trust reported a quarterly EPS of $4.03, exceeding expectations, with a revenue of $465.84 million, slightly lower than the consensus estimate.

APG Asset Management N.V. decreased its stake in shares of Essex Property Trust, Inc. (NYSE:ESS - Free Report) by 5.1% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 65,000 shares of the real estate investment trust's stock after selling 3,500 shares during the quarter. APG Asset Management N.V. owned 0.10% of Essex Property Trust worth $18,448,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in ESS. Vanguard Group Inc. raised its holdings in Essex Property Trust by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 10,440,274 shares of the real estate investment trust's stock valued at $3,200,675,000 after acquiring an additional 87,117 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of Essex Property Trust by 66.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,746,242 shares of the real estate investment trust's stock worth $841,916,000 after purchasing an additional 1,096,619 shares in the last quarter. Wealthquest Corp bought a new stake in shares of Essex Property Trust during the first quarter valued at approximately $384,606,000. Northern Trust Corp raised its stake in shares of Essex Property Trust by 10.6% in the first quarter. Northern Trust Corp now owns 1,247,133 shares of the real estate investment trust's stock valued at $382,334,000 after purchasing an additional 119,303 shares in the last quarter. Finally, Ameriprise Financial Inc. lifted its position in Essex Property Trust by 6.6% in the first quarter. Ameriprise Financial Inc. now owns 854,606 shares of the real estate investment trust's stock worth $261,205,000 after purchasing an additional 52,793 shares during the period. Institutional investors own 96.51% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on ESS shares. Mizuho lowered their price target on shares of Essex Property Trust from $314.00 to $293.00 and set an "outperform" rating on the stock in a report on Friday, May 23rd. Wells Fargo & Company decreased their target price on shares of Essex Property Trust from $325.00 to $279.00 and set an "equal weight" rating on the stock in a research report on Wednesday. Raymond James Financial raised shares of Essex Property Trust from a "market perform" rating to an "outperform" rating and set a $315.00 price target for the company in a research report on Tuesday, June 24th. Royal Bank Of Canada upped their price objective on Essex Property Trust from $306.00 to $307.00 and gave the company an "outperform" rating in a research note on Thursday, July 31st. Finally, Piper Sandler downgraded Essex Property Trust from an "overweight" rating to a "neutral" rating and cut their target price for the stock from $355.00 to $275.00 in a research report on Monday, August 4th. Seven investment analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $301.42.

Essex Property Trust Price Performance

NYSE:ESS traded up $0.28 during mid-day trading on Thursday, reaching $267.90. 322,311 shares of the company were exchanged, compared to its average volume of 488,537. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 1.16. The stock has a market cap of $17.25 billion, a PE ratio of 21.54, a PEG ratio of 6.81 and a beta of 0.80. Essex Property Trust, Inc. has a 12 month low of $243.85 and a 12 month high of $317.73. The company has a fifty day moving average of $274.91 and a 200 day moving average of $282.80.

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 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 company had revenue of $465.84 million for the quarter, compared to analyst estimates of $466.47 million. During the same period in the prior 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. On average, research analysts anticipate that Essex Property Trust, Inc. will post 15.96 EPS for the current fiscal year.

Essex Property Trust 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.