HGI Capital Management LLC Makes New Investment in Essex Property Trust, Inc. $ESS

Key Points

• HGI Capital Management LLC has acquired a new stake in Essex Property Trust, Inc., purchasing 13,078 shares valued at approximately $4.01 million, accounting for 5.0% of its portfolio.
• Several institutional investors have increased their holdings in Essex Property Trust, further indicating strong interest in the real estate investment trust sector, with 96.51% of the stock owned by institutional investors.
• Equities analysts have cut target prices for Essex Property Trust, with the current consensus rating at "Hold" and an average target price of $301.42.

HGI Capital Management LLC purchased a new stake in Essex Property Trust, Inc. (NYSE:ESS - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 13,078 shares of the real estate investment trust's stock, valued at approximately $4,009,000. Essex Property Trust makes up about 5.0% of HGI Capital Management LLC's holdings, making the stock its 8th biggest position.

Several other large investors have also recently added to or reduced their stakes in the company. Zions Bancorporation National Association UT acquired a new stake in shares of Essex Property Trust in the 1st quarter valued at $34,000. GKV Capital Management Co. Inc. bought a new stake in Essex Property Trust during the 1st quarter worth approximately $35,000. Capital Analysts LLC increased its position 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 acquiring an additional 49 shares in the last quarter. Brooklyn Investment Group raised its stake in shares of Essex Property Trust by 34.8% in the 1st quarter. Brooklyn Investment Group now owns 190 shares of the real estate investment trust's stock valued at $58,000 after purchasing an additional 49 shares during the period. Finally, Ameriflex Group Inc. acquired a new stake in Essex Property Trust in the 4th quarter valued at approximately $59,000. 96.51% of the stock is owned by institutional investors.

Essex Property Trust Trading Up 1.0%

NYSE ESS traded up $2.58 on Friday, reaching $270.49. The company had a trading volume of 388,675 shares, compared to its average volume of 498,714. The firm has a market cap of $17.42 billion, a price-to-earnings ratio of 21.74, a P/E/G ratio of 6.95 and a beta of 0.80. The company has a debt-to-equity ratio of 1.16, a current ratio of 1.09 and a quick ratio of 1.09. Essex Property Trust, Inc. has a fifty-two week low of $243.85 and a fifty-two week high of $317.73. The business has a 50 day moving average of $274.30 and a two-hundred day moving average of $282.44.

Essex Property Trust (NYSE:ESS - Get Free Report) last released its earnings results on Tuesday, July 29th. The real estate investment trust reported $4.03 earnings per share for the quarter, beating analysts' consensus estimates of $3.99 by $0.04. Essex Property Trust had a net margin of 43.51% and a return on equity of 13.98%. The business had revenue of $465.84 million during the quarter, compared to the consensus estimate of $466.47 million. During the same quarter in the prior year, the firm posted $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. Analysts forecast that Essex Property Trust, Inc. will post 15.96 EPS for the current year.

Wall Street Analysts Forecast Growth

ESS has been the subject of several recent research reports. Wells Fargo & Company reduced their price target 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. Truist Financial reduced their target price on shares of Essex Property Trust from $295.00 to $283.00 and set a "hold" rating for the company in a report on Tuesday, August 12th. Barclays reduced their price target on Essex Property Trust from $335.00 to $298.00 and set an "equal weight" rating for the company in a research note on Tuesday, August 12th. 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 report on Tuesday, June 24th. Finally, BMO Capital Markets boosted their price target on Essex Property Trust from $315.00 to $317.00 and gave the company an "outperform" rating in a research note on Wednesday, May 28th. Seven 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 MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $301.42.

Essex Property Trust Company 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.