Cibc World Market Inc. Invests $8.80 Million in Essex Property Trust, Inc. $ESS

Key Points

• CIBC World Markets acquired 30,182 shares of Essex Property Trust in the second quarter, valued at approximately $8.8 million. Institutional investors collectively own 96.51% of the REIT’s outstanding stock.
• Analysts maintain a generally positive outlook, with Essex receiving a consensus “Moderate Buy” rating and an average price target of $304.79; targets range from $280 to $330.
• Essex reported quarterly EPS of $4.08, beating estimates of $1.46, while revenue reached $489.05 million versus expectations of $485.12 million. The stock opened at $292, down 0.5%, near its 52-week high of $303.35.

Cibc World Market Inc. acquired a new position in shares of Essex Property Trust, Inc. (NYSE:ESS - Free Report) in the second quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 30,182 shares of the real estate investment trust's stock, valued at approximately $8,801,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Dorsey & Whitney Trust CO LLC increased its stake in 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 last quarter. Norinchukin Bank The grew its position in shares of Essex Property Trust by 0.6% in 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 buying an additional 44 shares during the last quarter. Kestra Private Wealth Services LLC grew its position in shares of Essex Property Trust by 1.7% in the 1st quarter. Kestra Private Wealth Services LLC now owns 3,047 shares of the real estate investment trust's stock valued at $737,000 after buying an additional 50 shares during the last quarter. EverSource Wealth Advisors LLC raised its stake in Essex Property Trust by 31.2% during 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 in the last quarter. Finally, Valeo Financial Advisors LLC lifted its position in 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 acquiring an additional 72 shares during the last quarter. 96.51% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on ESS shares. Stifel Nicolaus set a $292.75 target price on Essex Property Trust in a research note on Thursday, July 30th. UBS Group set a $290.00 target price on shares of Essex Property Trust in a research note on Thursday, June 18th. Wall Street Zen cut Essex Property Trust from a "hold" rating to a "sell" rating in a research report on Saturday, August 1st. Wells Fargo & Company lifted their price objective on shares of Essex Property Trust from $280.00 to $297.00 and gave the company an "equal weight" rating in a research note on Wednesday, July 22nd. Finally, Citizens Jmp upgraded shares of Essex Property Trust from a "market perform" rating to an "outperform" rating and set a $330.00 price target for the company in a report on Friday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, ten have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Essex Property Trust has an average rating of "Moderate Buy" and a consensus price target of $304.79.

Essex Property Trust Stock Down 0.5%

ESS stock opened at $292.00 on Wednesday. The company has a 50 day moving average price of $289.20 and a two-hundred day moving average price of $270.40. Essex Property Trust, Inc. has a one year low of $238.46 and a one year high of $303.35. The stock has a market capitalization of $18.77 billion, a P/E ratio of 45.41, a PEG ratio of 10.74 and a beta of 0.69. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.60 and a current ratio of 0.60.

Essex Property Trust (NYSE:ESS - Get Free Report) last announced its quarterly earnings data on Wednesday, July 29th. The real estate investment trust reported $4.08 earnings per share for the quarter, topping the consensus estimate of $1.46 by $2.62. The business had revenue of $489.05 million for the quarter, compared to analyst estimates of $485.12 million. Essex Property Trust had a net margin of 21.48% and a return on equity of 7.33%. During the same period in the prior year, the firm posted $4.03 EPS. 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. As a group, sell-side analysts expect that Essex Property Trust, Inc. will post 16.18 EPS for the current year.

Essex Property Trust Company 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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