APG Asset Management US Inc. Grows Holdings in Essex Property Trust, Inc. $ESS

Key Points

• APG Asset Management US Inc. increased its holdings in Essex Property Trust, Inc. by 41.6%, now owning approximately 0.18% of the company valued at $35.8 million.
• Essex Property Trust recently reported $4.03 earnings per share for the quarter, surpassing analyst expectations and showing a year-over-year improvement.
• Wall Street analysts have varied ratings for Essex Property Trust, with seven analysts rating it as a Buy and others issuing Hold or Sell ratings, leading to an average target price of $302.86.

APG Asset Management US Inc. increased its position in Essex Property Trust, Inc. (NYSE:ESS - Free Report) by 41.6% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 117,251 shares of the real estate investment trust's stock after purchasing an additional 34,438 shares during the period. APG Asset Management US Inc. owned approximately 0.18% of Essex Property Trust worth $35,821,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Zions Bancorporation National Association UT purchased a new stake in Essex Property Trust in the 1st quarter worth approximately $34,000. GKV Capital Management Co. Inc. purchased a new stake in Essex Property Trust in the 1st quarter worth approximately $35,000. Capital Analysts LLC increased its holdings in Essex Property Trust by 56.3% in the 1st quarter. Capital Analysts LLC now owns 136 shares of the real estate investment trust's stock worth $42,000 after acquiring an additional 49 shares in the last quarter. Brooklyn Investment Group increased its holdings in Essex Property Trust by 34.8% in the 1st quarter. Brooklyn Investment Group now owns 190 shares of the real estate investment trust's stock worth $58,000 after acquiring an additional 49 shares in the last quarter. Finally, Ameriflex Group Inc. purchased a new stake in Essex Property Trust during the 4th quarter valued at approximately $59,000. Hedge funds and other institutional investors own 96.51% of the company's stock.

Wall Street Analysts Forecast Growth

ESS has been the subject of a number of research analyst reports. Raymond James Financial raised shares of Essex Property Trust from a "market perform" rating to an "outperform" rating and set a $315.00 price objective for the company in a report on Tuesday, June 24th. Truist Financial cut their target price on shares of Essex Property Trust from $295.00 to $283.00 and set a "hold" rating for the company in a report on Tuesday, August 12th. Wall Street Zen raised shares of Essex Property Trust from a "sell" rating to a "hold" rating in a report on Saturday, August 2nd. Evercore ISI cut their target price on shares of Essex Property Trust from $285.00 to $279.00 and set an "in-line" rating for the company in a report on Tuesday, August 12th. Finally, Stifel Nicolaus lifted their price objective on shares of Essex Property Trust from $301.50 to $305.50 and gave the stock a "hold" rating in a research note on Wednesday, July 30th. Seven equities research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $302.86.

Essex Property Trust Stock Up 1.6%

NYSE:ESS opened at $266.27 on Friday. 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 $17.15 billion, a price-to-earnings ratio of 21.29, a price-to-earnings-growth ratio of 6.74 and a beta of 0.80. The stock has a fifty day simple moving average of $276.31 and a 200-day simple moving average of $283.54. 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 released its quarterly earnings data on Tuesday, July 29th. The real estate investment trust reported $4.03 earnings per share for the quarter, beating the consensus estimate of $3.99 by $0.04. The firm had revenue of $465.84 million during the quarter, compared to the consensus estimate of $466.47 million. Essex Property Trust had a return on equity of 13.98% and a net margin of 43.51%.During the same period in the previous year, the company 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. Analysts anticipate that Essex Property Trust, Inc. will post 15.96 EPS 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.

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