Price T Rowe Associates Inc. MD Grows Position in Essex Property Trust, Inc. $ESS

Key Points

• Price T Rowe Associates Inc. MD increased its stake in Essex Property Trust, Inc. by 66.5% during the first quarter, owning approximately 4.27% of the company with shares valued at $841.9 million.
• Essex Property Trust's recent earnings report showed an EPS of $4.03, surpassing estimates, while the firm has set guidance for Q3 2025 at 3.890-3.990 EPS.
• Analyst ratings for Essex Property Trust include seven Buy ratings, eleven Hold ratings, and one Sell rating, with an average target price of $302.86.

Price T Rowe Associates Inc. MD grew its stake in Essex Property Trust, Inc. (NYSE:ESS - Free Report) by 66.5% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,746,242 shares of the real estate investment trust's stock after purchasing an additional 1,096,619 shares during the period. Price T Rowe Associates Inc. MD owned about 4.27% of Essex Property Trust worth $841,916,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Wealthquest Corp bought a new stake in shares of Essex Property Trust in the 1st quarter worth about $384,606,000. GAMMA Investing LLC lifted its position in Essex Property Trust by 35,500.1% during the 1st quarter. GAMMA Investing LLC now owns 448,205 shares of the real estate investment trust's stock worth $137,406,000 after buying an additional 446,946 shares in the last quarter. Northern Trust Corp lifted its stake in Essex Property Trust by 56.0% in the 4th quarter. Northern Trust Corp now owns 1,127,830 shares of the real estate investment trust's stock valued at $321,928,000 after purchasing an additional 404,892 shares during the last quarter. Nuveen LLC bought a new stake in shares of Essex Property Trust during the first quarter worth approximately $91,014,000. Finally, JPMorgan Chase & Co. grew its position in Essex Property Trust by 65.1% during the first quarter. JPMorgan Chase & Co. now owns 725,896 shares of the real estate investment trust's stock worth $222,538,000 after buying an additional 286,345 shares in the last quarter. Institutional investors own 96.51% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on ESS shares. Stifel Nicolaus raised their price objective on Essex Property Trust from $301.50 to $305.50 and gave the stock a "hold" rating in a research report on Wednesday, July 30th. Morgan Stanley cut their price target on Essex Property Trust from $304.00 to $285.00 and set an "equal weight" rating for the company in a research note on Wednesday, August 13th. Wall Street Zen upgraded shares of Essex Property Trust from a "sell" rating to a "hold" rating in a report on Saturday, August 2nd. Mizuho cut their price target 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. Finally, Piper Sandler cut Essex Property Trust from an "overweight" rating to a "neutral" rating and cut their price objective for the stock from $355.00 to $275.00 in a research report on Monday, August 4th. Seven research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $302.86.

Essex Property Trust Trading Down 0.1%

Shares of ESS traded down $0.20 during mid-day trading on Tuesday, reaching $265.26. The company's stock had a trading volume of 316,700 shares, compared to its average volume of 488,900. The stock has a market cap of $17.08 billion, a PE ratio of 21.32, a P/E/G ratio of 6.86 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's fifty day moving average price is $275.58 and its two-hundred day moving average price is $283.02. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 1.16.

Essex Property Trust (NYSE:ESS - Get Free Report) last announced its quarterly earnings results on Tuesday, July 29th. The real estate investment trust reported $4.03 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.99 by $0.04. Essex Property Trust had a return on equity of 13.98% and a net margin of 43.51%.The company had revenue of $465.84 million for the quarter, compared to the consensus estimate of $466.47 million. During the same quarter in the previous year, the business 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, analysts predict 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.