Canada Pension Plan Investment Board Buys 37,300 Shares of Essex Property Trust, Inc. $ESS

Key Points

• The Canada Pension Plan Investment Board significantly increased its stake in Essex Property Trust, acquiring 37,300 additional shares, bringing its total ownership to 40,500 shares valued at approximately $12.4 million.
• Essex Property Trust reported earnings of $4.03 per share for the last quarter, exceeding analyst expectations, and set guidance for this fiscal year's earnings per share at 15.800-16.020.
• Institutional investors now hold 96.51% of the company's stock, reflecting strong confidence in Essex Property Trust's long-term performance.

Canada Pension Plan Investment Board raised its stake in shares of Essex Property Trust, Inc. (NYSE:ESS - Free Report) by 1,165.6% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 40,500 shares of the real estate investment trust's stock after purchasing an additional 37,300 shares during the quarter. Canada Pension Plan Investment Board owned 0.06% of Essex Property Trust worth $12,416,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Stephens Inc. AR increased its stake in Essex Property Trust by 4.6% during the first quarter. Stephens Inc. AR now owns 985 shares of the real estate investment trust's stock valued at $302,000 after acquiring an additional 43 shares during the period. Horizon Investments LLC increased its position in shares of Essex Property Trust by 5.0% during the first quarter. Horizon Investments LLC now owns 929 shares of the real estate investment trust's stock valued at $285,000 after purchasing an additional 44 shares during the period. Gen Wealth Partners Inc raised its stake in shares of Essex Property Trust by 2.4% in the fourth quarter. Gen Wealth Partners Inc now owns 1,952 shares of the real estate investment trust's stock valued at $557,000 after purchasing an additional 45 shares in the last quarter. Sequoia Financial Advisors LLC raised its stake in shares of Essex Property Trust by 6.3% in the first quarter. Sequoia Financial Advisors LLC now owns 778 shares of the real estate investment trust's stock valued at $239,000 after purchasing an additional 46 shares in the last quarter. Finally, Brooklyn Investment Group lifted its position in Essex Property Trust by 34.8% in the first quarter. Brooklyn Investment Group now owns 190 shares of the real estate investment trust's stock worth $58,000 after purchasing an additional 49 shares during the period. Institutional investors own 96.51% of the company's stock.

Essex Property Trust Price Performance

Shares of ESS stock opened at $270.49 on Tuesday. Essex Property Trust, Inc. has a 52 week low of $243.85 and a 52 week high of $317.73. The stock has a market capitalization of $17.42 billion, a PE ratio of 21.74, a PEG ratio of 6.95 and a beta of 0.83. The company has a debt-to-equity ratio of 1.16, a quick ratio of 1.09 and a current ratio of 1.09. The stock's fifty day moving average is $273.99 and its 200-day moving average is $282.25.

Essex Property Trust (NYSE:ESS - Get Free Report) last issued its quarterly earnings results on Tuesday, July 29th. The real estate investment trust reported $4.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.99 by $0.04. The business had revenue of $465.84 million for the quarter, compared to the consensus estimate of $466.47 million. Essex Property Trust had a net margin of 43.51% and a return on equity of 13.98%. During the same quarter in the prior year, the company earned $3.94 EPS. 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 expect that Essex Property Trust, Inc. will post 15.96 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on ESS. Royal Bank Of Canada increased their price objective on shares of Essex Property Trust from $306.00 to $307.00 and gave the company an "outperform" rating in a research note on Thursday, July 31st. Stifel Nicolaus boosted their price target on Essex Property Trust from $301.50 to $305.50 and gave the company a "hold" rating in a research note on Wednesday, July 30th. Scotiabank cut their price objective on Essex Property Trust from $320.00 to $309.00 and set a "sector outperform" rating for the company in a report on Tuesday, August 5th. Wall Street Zen upgraded shares of Essex Property Trust from a "sell" rating to a "hold" rating in a research note on Saturday, August 2nd. Finally, BMO Capital Markets increased their target price on shares of Essex Property Trust from $315.00 to $317.00 and gave the stock an "outperform" rating in a research report on Wednesday, May 28th. 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 data from MarketBeat.com, Essex Property Trust presently has an average rating of "Hold" and an average price target of $301.42.

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.

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