Essex Property Trust, Inc. $ESS Shares Acquired by Hsbc Holdings PLC

Key Points

• Hsbc Holdings PLC increased its stake in Essex Property Trust by 6.7%, acquiring an additional 15,727 shares, bringing their total holdings to 249,279 shares valued at $76.4 million.
• Essex Property Trust reported $4.03 earnings per share in its most recent quarter, exceeding analysts' expectations of $3.99 EPS, with a net margin of 43.51%.
• Wall Street analysts have mixed views on Essex Property Trust, with seven giving it a Buy rating and eleven rating it as Hold, while the consensus target price is set at $302.86.

Hsbc Holdings PLC grew its stake in shares of Essex Property Trust, Inc. (NYSE:ESS - Free Report) by 6.7% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 249,279 shares of the real estate investment trust's stock after purchasing an additional 15,727 shares during the quarter. Hsbc Holdings PLC owned approximately 0.39% of Essex Property Trust worth $76,407,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ESS. Raymond James Financial Inc. acquired a new stake in Essex Property Trust during the fourth quarter worth approximately $7,027,000. Canada Pension Plan Investment Board acquired a new stake in Essex Property Trust during the fourth quarter worth approximately $913,000. MetLife Investment Management LLC raised its holdings in Essex Property Trust by 1.3% during the fourth quarter. MetLife Investment Management LLC now owns 18,889 shares of the real estate investment trust's stock worth $5,392,000 after purchasing an additional 250 shares in the last quarter. J. Safra Sarasin Holding AG acquired a new position in shares of Essex Property Trust in the 4th quarter valued at $1,017,000. Finally, Adage Capital Partners GP L.L.C. increased its holdings in shares of Essex Property Trust by 277.8% in the 4th quarter. Adage Capital Partners GP L.L.C. now owns 35,000 shares of the real estate investment trust's stock valued at $9,990,000 after acquiring an additional 25,737 shares during the period. Institutional investors and hedge funds own 96.51% of the company's stock.

Wall Street Analyst Weigh In

ESS has been the topic of a number of recent research reports. UBS Group cut their target price on shares of Essex Property Trust from $297.00 to $295.00 and set a "neutral" rating on the stock in a report on Tuesday, July 15th. Wall Street Zen raised shares of Essex Property Trust from a "sell" rating to a "hold" rating in a report on Saturday, August 2nd. Truist Financial cut their target price on shares of Essex Property Trust from $295.00 to $283.00 and set a "hold" rating on the stock in a report on Tuesday, August 12th. Scotiabank cut their target price on shares of Essex Property Trust from $320.00 to $309.00 and set a "sector outperform" rating on the stock in a report on Tuesday, August 5th. Finally, Mizuho cut their target price on shares of Essex Property Trust from $314.00 to $293.00 and set an "outperform" rating on the stock in a report on Friday, May 23rd. Seven analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $302.86.

Essex Property Trust Price Performance

Shares of NYSE ESS traded down $0.80 during trading on Monday, hitting $265.95. 115,931 shares of the company were exchanged, compared to its average volume of 490,137. The company has a market cap of $17.13 billion, a price-to-earnings ratio of 21.37, a PEG ratio of 6.86 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. The firm's fifty day moving average price is $275.97 and its 200 day moving average price is $283.21. 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 (NYSE:ESS - Get Free Report) last issued its earnings results on Tuesday, July 29th. The real estate investment trust reported $4.03 EPS for the quarter, topping the consensus estimate of $3.99 by $0.04. The company had revenue of $465.84 million for the quarter, compared to analyst estimates 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 in the previous 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 earnings per share for the current fiscal year.

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.