Credit Agricole S A Has $5.68 Million Stock Position in Essex Property Trust, Inc. $ESS

Key Points

• Credit Agricole S A increased its ownership in Essex Property Trust by 9.1%, holding a total of 18,513 shares worth approximately $5.68 million at the end of the last quarter.
• The recent earnings report showed Essex Property Trust's EPS at $4.03, which exceeded estimates and reflected a net margin of 43.51%.
• Analysts' ratings are mixed, with seven Buy ratings, eleven Holds, and one Sell, while the average price target for the stock is $302.86.

Credit Agricole S A grew its stake in Essex Property Trust, Inc. (NYSE:ESS - Free Report) by 9.1% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 18,513 shares of the real estate investment trust's stock after buying an additional 1,548 shares during the period. Credit Agricole S A's holdings in Essex Property Trust were worth $5,676,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. Banco Bilbao Vizcaya Argentaria S.A. increased its stake in Essex Property Trust by 5.3% in the 1st quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 1,491 shares of the real estate investment trust's stock valued at $457,000 after buying an additional 75 shares during the period. Groupama Asset Managment increased its holdings in shares of Essex Property Trust by 4.4% in the 1st quarter. Groupama Asset Managment now owns 7,156 shares of the real estate investment trust's stock valued at $2,190,000 after purchasing an additional 300 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S boosted its holdings in Essex Property Trust by 53.3% during the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 1,984 shares of the real estate investment trust's stock worth $608,000 after buying an additional 690 shares in the last quarter. Hsbc Holdings PLC increased its holdings in Essex Property Trust by 6.7% in the first quarter. Hsbc Holdings PLC now owns 249,279 shares of the real estate investment trust's stock valued at $76,407,000 after buying an additional 15,727 shares in the last quarter. Finally, Wellington Management Group LLP increased its stake in Essex Property Trust by 7.4% in the 1st quarter. Wellington Management Group LLP now owns 657,379 shares of the real estate investment trust's stock valued at $201,533,000 after purchasing an additional 45,275 shares in the last quarter. 96.51% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the stock. Truist Financial cut their price objective on shares of Essex Property Trust from $295.00 to $283.00 and set a "hold" rating for the company in a research report on Tuesday, August 12th. BMO Capital Markets upped their price objective on Essex Property Trust from $315.00 to $317.00 and gave the stock an "outperform" rating in a research note on Wednesday, May 28th. Scotiabank reduced their price target on Essex Property Trust from $320.00 to $309.00 and set a "sector outperform" rating for the company in a research report on Tuesday, August 5th. Morgan Stanley lowered their price objective on shares of Essex Property Trust from $304.00 to $285.00 and set an "equal weight" rating on the stock in a research note on Wednesday, August 13th. Finally, Evercore ISI decreased their price target on shares of Essex Property Trust from $285.00 to $279.00 and set an "in-line" rating on the stock in a research report on Tuesday, August 12th. Seven analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $301.42.

Essex Property Trust Price Performance

ESS traded down $1.39 during midday trading on Thursday, reaching $266.24. 27,961 shares of the company's stock were exchanged, compared to its average volume of 486,713. The business has a 50-day simple moving average of $274.91 and a two-hundred day simple moving average of $282.80. Essex Property Trust, Inc. has a one year low of $243.85 and a one year high of $317.73. The firm has a market capitalization of $17.15 billion, a price-to-earnings ratio of 21.38, a price-to-earnings-growth ratio of 6.81 and a beta of 0.80. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 1.16.

Essex Property Trust (NYSE:ESS - Get Free Report) last posted its earnings results on Tuesday, July 29th. The real estate investment trust reported $4.03 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.99 by $0.04. Essex Property Trust had a net margin of 43.51% and a return on equity of 13.98%. The company had revenue of $465.84 million during the quarter, compared to analysts' expectations of $466.47 million. During the same quarter 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. As a group, research analysts predict that Essex Property Trust, Inc. will post 15.96 EPS for the current year.

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.