Canada Pension Plan Investment Board Purchases Shares of 16,900 Essex Property Trust, Inc. $ESS

Key Points

• Canada Pension Plan Investment Board purchased 16,900 shares of Essex Property Trust during the second quarter, valued at approximately $4.93 million. Institutional investors collectively own 96.51% of the REIT’s stock.
• Analyst sentiment is broadly positive, with the stock carrying a “Moderate Buy” consensus rating and an average price target of $304.79. Recent target increases included JPMorgan’s move to $295 and Truist’s move to $286.
• Essex reported quarterly EPS of $4.08, exceeding the $1.46 consensus estimate, while revenue of $489.05 million also topped expectations. Shares opened at $284.49, compared with a 52-week range of $238.46 to $303.35.

Canada Pension Plan Investment Board bought a new stake in shares of Essex Property Trust, Inc. (NYSE:ESS - Free Report) during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 16,900 shares of the real estate investment trust's stock, valued at approximately $4,928,000.

A number of other hedge funds and other institutional investors have also modified their holdings of ESS. Dorsey & Whitney Trust CO LLC grew its position in shares of Essex Property Trust by 5.2% in the fourth quarter. Dorsey & Whitney Trust CO LLC now owns 814 shares of the real estate investment trust's stock valued at $213,000 after purchasing an additional 40 shares during the period. Norinchukin Bank The lifted its holdings in shares of Essex Property Trust by 0.6% during the 3rd quarter. Norinchukin Bank The now owns 6,957 shares of the real estate investment trust's stock valued at $1,862,000 after acquiring an additional 44 shares in the last quarter. Kestra Private Wealth Services LLC lifted its stake in shares of Essex Property Trust by 1.7% during the first quarter. Kestra Private Wealth Services LLC now owns 3,047 shares of the real estate investment trust's stock worth $737,000 after purchasing an additional 50 shares in the last quarter. EverSource Wealth Advisors LLC boosted its holdings in Essex Property Trust by 31.2% in the 1st quarter. EverSource Wealth Advisors LLC now owns 265 shares of the real estate investment trust's stock worth $64,000 after acquiring an additional 63 shares during the period. Finally, Valeo Financial Advisors LLC boosted its stake in shares of Essex Property Trust by 3.7% in the fourth quarter. Valeo Financial Advisors LLC now owns 2,034 shares of the real estate investment trust's stock valued at $532,000 after purchasing an additional 72 shares during the period. 96.51% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on ESS. Truist Financial raised their price objective on Essex Property Trust from $273.00 to $286.00 and gave the company a "hold" rating in a research note on Wednesday, May 27th. UBS Group set a $290.00 target price on shares of Essex Property Trust in a report on Thursday, June 18th. Jefferies Financial Group upgraded shares of Essex Property Trust to a "strong-buy" rating in a research report on Wednesday, July 22nd. Weiss Ratings raised Essex Property Trust from a "hold (c)" rating to a "hold (c+)" rating in a report on Tuesday, August 18th. Finally, JPMorgan Chase & Co. raised their target price on shares of Essex Property Trust from $275.00 to $295.00 and gave the company an "underweight" rating in a research note on Friday, August 14th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $304.79.

Essex Property Trust Stock Performance

Shares of ESS opened at $284.49 on Monday. Essex Property Trust, Inc. has a 52 week low of $238.46 and a 52 week high of $303.35. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.60 and a current ratio of 0.60. The company has a market capitalization of $18.28 billion, a PE ratio of 44.24, a PEG ratio of 10.39 and a beta of 0.69. The company's 50 day moving average price is $289.82 and its 200 day moving average price is $271.01.

Essex Property Trust (NYSE:ESS - Get Free Report) last posted its earnings results on Wednesday, July 29th. The real estate investment trust reported $4.08 EPS for the quarter, topping the consensus estimate of $1.46 by $2.62. Essex Property Trust had a net margin of 21.48% and a return on equity of 7.33%. The company had revenue of $489.05 million during the quarter, compared to the consensus estimate of $485.12 million. During the same period in the previous year, the firm posted $4.03 earnings per share. Essex Property Trust has set its Q3 2026 guidance at 3.930-4.050 EPS and its FY 2026 guidance at 16.030-16.250 EPS. Research analysts expect that Essex Property Trust, Inc. will post 16.18 EPS for the current fiscal year.

Essex Property Trust Profile

Essex Property Trust, Inc NYSE: ESS is a publicly traded real estate investment trust that acquires, develops, owns and operates multifamily residential properties. The company focuses on market-rate apartment communities and delivers a full suite of property services including leasing, resident services, asset management, and capital improvement programs designed to preserve and enhance long‑term property values.

Essex concentrates its portfolio in West Coast markets, with a significant presence in California and the Pacific Northwest.

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