Cbre Investment Management Listed Real Assets LLC Reduces Stock Holdings in Essex Property Trust, Inc. $ESS

Key Points

• Cbre Investment Management Listed Real Assets LLC reduced its holdings in Essex Property Trust by 6.3%, selling 8,826 shares, and now owns approximately 0.20% of the company valued at $40.19 million.
• Essex Property Trust reported an EPS of $4.03 for the last quarter, exceeding expectations, while analysts currently forecast an average EPS of 15.96 for the current fiscal year.
• The company's stock received a mix of ratings from analysts: upgrades from some, like Royal Bank of Canada raising the price target to $307, while others like Morgan Stanley lowered theirs to $285, indicating varied market sentiment on the stock.

Cbre Investment Management Listed Real Assets LLC decreased its holdings in Essex Property Trust, Inc. (NYSE:ESS - Free Report) by 6.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 131,098 shares of the real estate investment trust's stock after selling 8,826 shares during the quarter. Cbre Investment Management Listed Real Assets LLC owned about 0.20% of Essex Property Trust worth $40,191,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Zions Bancorporation National Association UT purchased a new stake in shares of Essex Property Trust during the first quarter worth approximately $34,000. GKV Capital Management Co. Inc. purchased a new stake in shares of Essex Property Trust during the first quarter worth approximately $35,000. Capital Analysts LLC raised its stake in shares of Essex Property Trust by 56.3% during the first quarter. Capital Analysts LLC now owns 136 shares of the real estate investment trust's stock worth $42,000 after purchasing an additional 49 shares during the last quarter. Brooklyn Investment Group raised its stake in shares of Essex Property Trust by 34.8% during the first quarter. Brooklyn Investment Group now owns 190 shares of the real estate investment trust's stock worth $58,000 after purchasing an additional 49 shares during the last quarter. Finally, Ameriflex Group Inc. purchased a new stake in shares of Essex Property Trust during the fourth quarter worth approximately $59,000. Hedge funds and other institutional investors own 96.51% of the company's stock.

Analyst Ratings Changes

Several research firms have recently commented on ESS. BMO Capital Markets upped their price target 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. Truist Financial cut their price target on Essex Property Trust from $295.00 to $283.00 and set a "hold" rating for the company in a research note on Tuesday, August 12th. Wells Fargo & Company cut their price objective on Essex Property Trust from $325.00 to $279.00 and set an "equal weight" rating for the company in a research report on Wednesday. Raymond James Financial upgraded Essex Property Trust from a "market perform" rating to an "outperform" rating and set a $315.00 price objective for the company in a research report on Tuesday, June 24th. Finally, Barclays cut their price objective on Essex Property Trust from $335.00 to $298.00 and set an "equal weight" rating for the company in a research report on Tuesday, August 12th. Seven research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $301.42.

Essex Property Trust Price Performance

Shares of ESS traded down $1.87 during trading hours on Thursday, reaching $265.75. 63,469 shares of the company traded hands, compared to its average volume of 486,935. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 1.16. The stock has a market capitalization of $17.11 billion, a PE ratio of 21.36, a price-to-earnings-growth ratio of 6.81 and a beta of 0.80. Essex Property Trust, Inc. has a fifty-two week low of $243.85 and a fifty-two week high of $317.73. The stock has a fifty day simple moving average of $274.91 and a 200 day simple moving average of $282.80.

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 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 for the quarter, compared to analyst estimates of $466.47 million. During the same period last year, the company earned $3.94 EPS. 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 fiscal 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.