Connor Clark & Lunn Investment Management Ltd. Purchases New Position in Essex Property Trust, Inc. $ESS

Key Points

• Connor Clark & Lunn Investment Management purchased 4,010 shares of Essex Property Trust in the second quarter, valued at approximately $1.17 million. Institutional investors collectively own 96.51% of the REIT.
• Analyst sentiment remains broadly positive, with an average rating of “Moderate Buy” and an average price target of $304.79; ratings include one Strong Buy, 11 Buys, 10 Holds, and one Sell.
• Essex Property Trust reported quarterly EPS of $4.08, exceeding the $1.46 consensus estimate, while revenue reached $489.05 million. Shares opened at $284.49, within a 52-week range of $238.46 to $303.35.

Connor Clark & Lunn Investment Management Ltd. purchased a new position in Essex Property Trust, Inc. (NYSE:ESS - Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 4,010 shares of the real estate investment trust's stock, valued at approximately $1,169,000.

Several other large investors also recently added to or reduced their stakes in ESS. BlackRock Inc. bought a new stake in shares of Essex Property Trust in the 2nd quarter valued at approximately $2,166,555,000. Geode Capital Management LLC increased its position in shares of Essex Property Trust by 1.2% during the 4th quarter. Geode Capital Management LLC now owns 1,873,698 shares of the real estate investment trust's stock valued at $488,601,000 after purchasing an additional 22,835 shares during the last quarter. Principal Financial Group Inc. increased its position in shares of Essex Property Trust by 21.9% during the 4th quarter. Principal Financial Group Inc. now owns 1,679,607 shares of the real estate investment trust's stock valued at $439,520,000 after purchasing an additional 301,349 shares during the last quarter. Daiwa Securities Group Inc. increased its position in shares of Essex Property Trust by 9.5% during the 3rd quarter. Daiwa Securities Group Inc. now owns 1,157,617 shares of the real estate investment trust's stock valued at $309,848,000 after purchasing an additional 100,730 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in Essex Property Trust by 6.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 995,810 shares of the real estate investment trust's stock valued at $240,989,000 after buying an additional 57,173 shares during the period. 96.51% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Morgan Stanley raised their price target on Essex Property Trust from $293.00 to $302.00 and gave the stock an "equal weight" rating in a research report on Thursday, June 25th. Cantor Fitzgerald boosted their price objective on shares of Essex Property Trust from $291.00 to $316.00 and gave the company an "overweight" rating in a research report on Monday, August 3rd. Jefferies Financial Group raised shares of Essex Property Trust to a "strong-buy" rating in a research note on Wednesday, July 22nd. Truist Financial raised their target price on shares of Essex Property Trust from $273.00 to $286.00 and gave the stock a "hold" rating in a report on Wednesday, May 27th. Finally, Wall Street Zen cut shares of Essex Property Trust from a "hold" rating to a "sell" rating in a research note on Saturday, August 1st. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $304.79.

Essex Property Trust Trading Up 0.2%

Shares of NYSE ESS opened at $284.49 on Monday. 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 business's 50 day moving average price is $289.82 and its 200-day moving average price is $271.01. Essex Property Trust, Inc. has a fifty-two week low of $238.46 and a fifty-two week high of $303.35. The company has a market cap of $18.28 billion, a price-to-earnings ratio of 44.24, a PEG ratio of 10.39 and a beta of 0.69.

Essex Property Trust (NYSE:ESS - Get Free Report) last posted its quarterly earnings data on Wednesday, July 29th. The real estate investment trust reported $4.08 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.46 by $2.62. Essex Property Trust had a return on equity of 7.33% and a net margin of 21.48%.The company had revenue of $489.05 million during the quarter, compared to analysts' expectations of $485.12 million. During the same quarter in the previous year, the business earned $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. On average, sell-side analysts expect that Essex Property Trust, Inc. will post 16.18 earnings per share 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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