Gulf International Bank UK Ltd Has $1.08 Million Holdings in Essex Property Trust, Inc. $ESS

Key Points

• Gulf International Bank UK Ltd reduced its holdings in Essex Property Trust by 30.1%, owning 3,539 shares after selling 1,525 shares during the first quarter.
• Analyst ratings for Essex Property Trust show a mix, with one sell rating, twelve hold ratings, and seven buy ratings, resulting in an average "Hold" rating and a price target of $302.86.
• Essex Property Trust reported $4.03 earnings per share for the recent quarter, exceeding the consensus estimate of $3.99, while revenue was slightly below expectations at $465.84 million.

Gulf International Bank UK Ltd cut its holdings in shares of Essex Property Trust, Inc. (NYSE:ESS - Free Report) by 30.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,539 shares of the real estate investment trust's stock after selling 1,525 shares during the period. Gulf International Bank UK Ltd's holdings in Essex Property Trust were worth $1,084,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in ESS. Zions Bancorporation National Association UT acquired a new stake in Essex Property Trust during the first quarter valued at approximately $34,000. GKV Capital Management Co. Inc. acquired a new stake in Essex Property Trust during the first quarter valued at approximately $35,000. Ameriflex Group Inc. acquired a new stake in Essex Property Trust during the fourth quarter valued at approximately $59,000. Alpine Bank Wealth Management acquired a new stake in Essex Property Trust during the first quarter valued at approximately $82,000. Finally, CoreCap Advisors LLC lifted its stake in Essex Property Trust by 17.7% during the fourth quarter. CoreCap Advisors LLC now owns 365 shares of the real estate investment trust's stock valued at $104,000 after purchasing an additional 55 shares during the last quarter. 96.51% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ESS has been the subject of several research analyst reports. Wall Street Zen upgraded shares of Essex Property Trust from a "sell" rating to a "hold" rating in a research report on Saturday, August 2nd. Truist Financial dropped their price target on shares of Essex Property Trust from $295.00 to $283.00 and set a "hold" rating on the stock in a research note on Tuesday, August 12th. Morgan Stanley dropped their price target 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. Evercore ISI dropped 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 note on Tuesday, August 12th. Finally, Raymond James Financial upgraded shares of Essex Property Trust from a "market perform" rating to an "outperform" rating and set a $315.00 target price on the stock in a research note on Tuesday, June 24th. Seven investment analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $302.86.

Essex Property Trust Stock Performance

Essex Property Trust stock traded up $0.3120 during mid-day trading on Wednesday, reaching $262.6720. The company had a trading volume of 296,109 shares, compared to its average volume of 491,954. The company has a 50 day moving average of $277.33 and a 200-day moving average of $283.84. The firm has a market cap of $16.92 billion, a price-to-earnings ratio of 21.10, a PEG ratio of 6.59 and a beta of 0.80. Essex Property Trust, Inc. has a 52 week low of $243.85 and a 52 week high of $317.73. 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 released its quarterly earnings data on Tuesday, July 29th. The real estate investment trust reported $4.03 EPS for the quarter, topping analysts' consensus estimates of $3.99 by $0.04. The company had revenue of $465.84 million during the quarter, compared to the consensus estimate of $466.47 million. Essex Property Trust had a net margin of 43.51% and a return on equity of 13.98%. During the same period last year, the firm 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. On average, sell-side analysts expect 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.