Jupiter Topco LLC Purchases New Shares in Essex Property Trust, Inc. $ESS

Key Points

• Jupiter Topco LLC purchased 18,707 shares of Essex Property Trust in the second quarter, valued at approximately $5.46 million. Institutional investors collectively own 96.51% of the REIT’s outstanding shares.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $304.79; several brokerages recently raised their targets.
• Essex Property Trust reported second-quarter earnings of $4.08 per share, exceeding estimates of $1.46, while revenue of $489.05 million also topped expectations.

Jupiter Topco LLC purchased a new position in shares of Essex Property Trust, Inc. (NYSE:ESS - Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 18,707 shares of the real estate investment trust's stock, valued at approximately $5,456,000.

A number of other institutional investors have also added to or reduced their stakes in the company. BlackRock Inc. bought a new position in shares of Essex Property Trust during the 2nd quarter worth approximately $2,166,555,000. Geode Capital Management LLC grew its holdings in shares of Essex Property Trust by 1.2% in the fourth quarter. Geode Capital Management LLC now owns 1,873,698 shares of the real estate investment trust's stock valued at $488,601,000 after acquiring an additional 22,835 shares in the last quarter. Principal Financial Group Inc. increased its position in shares of Essex Property Trust by 21.9% during the fourth quarter. Principal Financial Group Inc. now owns 1,679,607 shares of the real estate investment trust's stock valued at $439,520,000 after acquiring an additional 301,349 shares during the last quarter. Daiwa Securities Group Inc. increased its position in shares of Essex Property Trust by 9.5% during the third quarter. Daiwa Securities Group Inc. now owns 1,157,617 shares of the real estate investment trust's stock valued at $309,848,000 after acquiring an additional 100,730 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in Essex Property Trust by 6.1% during the first quarter. Dimensional Fund Advisors LP now owns 995,810 shares of the real estate investment trust's stock worth $240,989,000 after acquiring an additional 57,173 shares during the period. 96.51% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have issued reports on ESS. Cantor Fitzgerald upped their price objective on Essex Property Trust from $291.00 to $316.00 and gave the company an "overweight" rating in a research note on Monday, August 3rd. Wells Fargo & Company boosted their price target on shares of Essex Property Trust from $280.00 to $297.00 and gave the stock an "equal weight" rating in a report on Wednesday, July 22nd. Deutsche Bank Aktiengesellschaft set a $325.00 price target on shares of Essex Property Trust in a research report on Tuesday, August 18th. Mizuho raised their price objective on shares of Essex Property Trust from $285.00 to $308.00 and gave the stock an "outperform" rating in a report on Wednesday, June 10th. Finally, Morgan Stanley lifted their price objective on shares of Essex Property Trust from $293.00 to $302.00 and gave the stock an "equal weight" rating in a research report on Thursday, June 25th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $304.79.

Essex Property Trust Stock Performance

NYSE:ESS opened at $283.26 on Tuesday. The company has a market capitalization of $18.21 billion, a P/E ratio of 44.05, a P/E/G ratio of 10.39 and a beta of 0.69. The business has a fifty day simple moving average of $289.95 and a two-hundred day simple moving average of $271.16. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.60 and a quick ratio of 0.60. Essex Property Trust, Inc. has a 1 year low of $238.46 and a 1 year high of $303.35.

Essex Property Trust (NYSE:ESS - Get Free Report) last issued its quarterly earnings results on Wednesday, July 29th. The real estate investment trust reported $4.08 EPS for the quarter, beating analysts' consensus estimates of $1.46 by $2.62. The firm had revenue of $489.05 million for the quarter, compared to analysts' expectations of $485.12 million. Essex Property Trust had a return on equity of 7.33% and a net margin of 21.48%.During the same quarter in the prior year, the firm earned $4.03 EPS. Essex Property Trust has set its Q3 2026 guidance at 3.930-4.050 EPS and its FY 2026 guidance at 16.030-16.250 EPS. On average, analysts expect that Essex Property Trust, Inc. will post 16.18 earnings per share for the current year.

Essex Property Trust Company Profile

Essex Property Trust, Inc NYSE: ESS is a publicly traded real estate investment trust that acquires, develops, owns and operates multifamily residential properties. The company focuses on market-rate apartment communities and delivers a full suite of property services including leasing, resident services, asset management, and capital improvement programs designed to preserve and enhance long‑term property values.

Essex concentrates its portfolio in West Coast markets, with a significant presence in California and the Pacific Northwest.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source