Essex Property Trust, Inc. $ESS Shares Purchased by Korea Investment CORP

Key Points

• Korea Investment CORP increased its stake in Essex Property Trust by 26.7% in the first quarter, acquiring an additional 15,912 shares for a total of 75,510 shares valued at approximately $23 million.
• Essex Property Trust reported earnings of $4.03 per share for the most recent quarter, exceeding analyst estimates by $0.04, with revenue close to expectations at $465.84 million.
• Institutional investors and hedge funds now own 96.51% of Essex Property Trust's stock, with several firms modifying their holdings during the first quarter.

Korea Investment CORP increased its stake in Essex Property Trust, Inc. (NYSE:ESS - Free Report) by 26.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 75,510 shares of the real estate investment trust's stock after acquiring an additional 15,912 shares during the period. Korea Investment CORP owned approximately 0.12% of Essex Property Trust worth $23,149,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in ESS. Wealthquest Corp purchased a new position in shares of Essex Property Trust during the first quarter valued at approximately $384,606,000. GAMMA Investing LLC boosted its position in shares of Essex Property Trust by 35,500.1% during the first quarter. GAMMA Investing LLC now owns 448,205 shares of the real estate investment trust's stock valued at $137,406,000 after buying an additional 446,946 shares during the period. Northern Trust Corp boosted its position in shares of Essex Property Trust by 56.0% during the fourth quarter. Northern Trust Corp now owns 1,127,830 shares of the real estate investment trust's stock valued at $321,928,000 after buying an additional 404,892 shares during the period. Nuveen LLC purchased a new stake in shares of Essex Property Trust in the first quarter valued at approximately $91,014,000. Finally, JPMorgan Chase & Co. boosted its holdings in shares of Essex Property Trust by 65.1% in the first quarter. JPMorgan Chase & Co. now owns 725,896 shares of the real estate investment trust's stock valued at $222,538,000 after purchasing an additional 286,345 shares during the period. Hedge funds and other institutional investors own 96.51% of the company's stock.

Analyst Ratings Changes

ESS has been the subject of a number of research reports. Wall Street Zen upgraded Essex Property Trust from a "sell" rating to a "hold" rating in a report on Saturday, August 2nd. 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. BMO Capital Markets boosted their price objective on shares of Essex Property Trust from $315.00 to $317.00 and gave the stock an "outperform" rating in a research note on Wednesday, May 28th. Evercore ISI reduced their price objective on shares of Essex Property Trust from $285.00 to $279.00 and set an "in-line" rating for the company in a research note on Tuesday, August 12th. Finally, UBS Group reduced their price objective on shares of Essex Property Trust from $297.00 to $295.00 and set a "neutral" rating for the company in a research note on Tuesday, July 15th. 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's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $302.86.

Essex Property Trust Stock Down 0.4%

NYSE:ESS traded down $1.06 during trading hours on Monday, reaching $265.69. The company's stock had a trading volume of 102,964 shares, compared to its average volume of 490,089. The stock has a 50 day moving average price of $275.97 and a two-hundred day moving average price of $283.21. The company has a market capitalization of $17.11 billion, a P/E ratio of 21.34, a price-to-earnings-growth ratio of 6.86 and a beta of 0.80. The company has a debt-to-equity ratio of 1.16, a quick ratio of 1.09 and a current ratio of 1.09. Essex Property Trust, Inc. has a 12 month low of $243.85 and a 12 month high of $317.73.

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 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.99 by $0.04. The business had revenue of $465.84 million for the quarter, compared to the consensus estimate of $466.47 million. Essex Property Trust had a return on equity of 13.98% and a net margin of 43.51%.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. Equities analysts predict that Essex Property Trust, Inc. will post 15.96 EPS for the current fiscal year.

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.