Elevatus Welath Management Makes New Investment in Essex Property Trust, Inc. $ESS

Key Points

• Elevatus Wealth Management has acquired 6,622 shares of Essex Property Trust, Inc., valued at approximately $2,030,000, making it the fund's 22nd largest position.
• Essex Property Trust recently reported $4.03 EPS for its latest quarter, exceeding analysts' estimates, while holding a market capitalization of $16.72 billion.
• Analysts have varied views on Essex Property Trust with the stock being rated as "Hold"** on average, with price targets ranging from $279.00 to $317.00.

Elevatus Welath Management acquired a new stake in Essex Property Trust, Inc. (NYSE:ESS - Free Report) in the 1st quarter, according to the company in its most recent filing with the SEC. The fund acquired 6,622 shares of the real estate investment trust's stock, valued at approximately $2,030,000. Essex Property Trust comprises approximately 1.2% of Elevatus Welath Management's investment portfolio, making the stock its 22nd biggest holding.

Other institutional investors have also recently bought and sold shares of the company. Zions Bancorporation National Association UT bought a new position in Essex Property Trust in the 1st quarter valued at $34,000. GKV Capital Management Co. Inc. acquired a new stake in shares of Essex Property Trust in the 1st quarter valued at $35,000. Ameriflex Group Inc. acquired a new stake in shares of Essex Property Trust in the 4th quarter valued at $59,000. Alpine Bank Wealth Management acquired a new position in Essex Property Trust in the first quarter valued at about $82,000. Finally, CoreCap Advisors LLC grew its stake in Essex Property Trust by 17.7% in the fourth quarter. CoreCap Advisors LLC now owns 365 shares of the real estate investment trust's stock valued at $104,000 after acquiring an additional 55 shares during the period. Institutional investors own 96.51% of the company's stock.

Essex Property Trust Stock Down 0.0%

NYSE ESS traded down $0.0160 during trading hours on Wednesday, hitting $262.3440. 416,627 shares of the company traded hands, compared to its average volume of 492,456. The business's 50-day moving average is $277.33 and its 200-day moving average is $283.84. Essex Property Trust, Inc. has a twelve month low of $243.85 and a twelve month high of $317.73. 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 has a market capitalization of $16.90 billion, a price-to-earnings ratio of 21.09, a P/E/G ratio of 6.59 and a beta of 0.80.

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 EPS for the quarter, beating the consensus estimate of $3.99 by $0.04. Essex Property Trust had a return on equity of 13.98% and a net margin of 43.51%.The firm had revenue of $465.84 million during the quarter, compared to analysts' expectations of $466.47 million. During the same period in the prior year, the firm 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. Sell-side analysts anticipate that Essex Property Trust, Inc. will post 15.96 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts have issued reports on ESS shares. Wall Street Zen raised Essex Property Trust from a "sell" rating to a "hold" rating in a research note on Saturday, August 2nd. Mizuho cut their price target on Essex Property Trust from $314.00 to $293.00 and set an "outperform" rating on the stock in a report on Friday, May 23rd. 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 report on Wednesday, July 30th. Scotiabank cut their price target on Essex Property Trust from $320.00 to $309.00 and set a "sector outperform" rating on the stock in a report on Tuesday, August 5th. Finally, Barclays cut their price target on Essex Property Trust from $335.00 to $298.00 and set an "equal weight" rating on the stock in a report on Tuesday, August 12th. Seven equities research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $302.86.

Essex Property Trust Profile

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.