Fjarde AP Fonden Fourth Swedish National Pension Fund Trims Holdings in Essex Property Trust, Inc. $ESS

Key Points

• The Fjarde AP Fonden Fourth Swedish National Pension Fund reduced its stake in Essex Property Trust, Inc. by 14.5%, now holding 10,018 shares valued at approximately $3.07 million.
• Institutional investors own 96.51% of Essex Property Trust's stock, with significant activity during Q1 from firms like Boston Partners and Tokio Marine Asset Management increasing their positions.
• Recent analyst ratings for Essex Property Trust include adjustments in price targets by several firms, with a consensus rating of "Hold" and a target price of $302.86.

Fjarde AP Fonden Fourth Swedish National Pension Fund lowered its stake in shares of Essex Property Trust, Inc. (NYSE:ESS - Free Report) by 14.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,018 shares of the real estate investment trust's stock after selling 1,700 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund's holdings in Essex Property Trust were worth $3,071,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Zions Bancorporation National Association UT purchased a new stake in Essex Property Trust in the first quarter valued at about $34,000. GKV Capital Management Co. Inc. purchased a new stake in Essex Property Trust in the first quarter valued at about $35,000. Ameriflex Group Inc. purchased a new stake in Essex Property Trust in the fourth quarter valued at about $59,000. Alpine Bank Wealth Management purchased a new stake in Essex Property Trust in the first quarter valued at about $82,000. Finally, CoreCap Advisors LLC raised 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 buying an additional 55 shares during the last quarter. 96.51% of the stock is currently owned by hedge funds and other institutional investors.

Essex Property Trust Price Performance

Shares of NYSE:ESS traded down $0.0160 during trading on Wednesday, reaching $262.3440. The stock had a trading volume of 612,661 shares, compared to its average volume of 493,993. 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 business has a fifty day moving average price of $277.33 and a 200-day moving average price of $283.84. The stock has a market cap of $16.90 billion, a PE ratio of 21.09, a PEG ratio of 6.59 and a beta of 0.80. Essex Property Trust, Inc. has a 1-year low of $243.85 and a 1-year 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 firm had revenue of $465.84 million for the quarter, compared to analyst estimates 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 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. On average, equities analysts forecast that Essex Property Trust, Inc. will post 15.96 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. Truist Financial reduced their price objective 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. Piper Sandler cut Essex Property Trust from an "overweight" rating to a "neutral" rating and reduced their price target for the company from $355.00 to $275.00 in a research report on Monday, August 4th. Evercore ISI reduced their price target on Essex Property Trust from $285.00 to $279.00 and set an "in-line" rating for the company in a research report on Tuesday, August 12th. Raymond James Financial upgraded Essex Property Trust from a "market perform" rating to an "outperform" rating and set a $315.00 price target for the company in a research report on Tuesday, June 24th. Finally, UBS Group reduced their price target on Essex Property Trust from $297.00 to $295.00 and set a "neutral" rating for the company in a research report on Tuesday, July 15th. Seven equities 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 company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price 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.