Cibc World Market Inc. Invests $8.80 Million in Essex Property Trust, Inc. $ESS

Cibc World Market Inc. purchased a new position in Essex Property Trust, Inc. (NYSE:ESS) during the 2nd quarter, HoldingsChannel.com reports. The fund purchased 30,182 shares of the real estate investment trust’s stock, valued at approximately $8,801,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Nemes Rush Group LLC purchased a new stake in Essex Property Trust during the 4th quarter worth approximately $27,000. Generali Asset Management SPA SGR acquired a new position in Essex Property Trust during the 4th quarter worth $29,000. Cassaday & Co Wealth Management LLC acquired a new position in Essex Property Trust during the 1st quarter worth $38,000. Western Wealth Management LLC bought a new stake in shares of Essex Property Trust in the 1st quarter worth about $44,000. Finally, Elevation Wealth Partners LLC raised its stake in shares of Essex Property Trust by 523.1% in the 2nd quarter. Elevation Wealth Partners LLC now owns 162 shares of the real estate investment trust’s stock valued at $47,000 after purchasing an additional 136 shares in the last quarter. Hedge funds and other institutional investors own 96.51% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on ESS shares. Raymond James Financial upgraded Essex Property Trust from a “market perform” rating to an “outperform” rating and set a $320.00 price target for the company in a research note on Friday, June 26th. Piper Sandler lifted their target price on Essex Property Trust from $310.00 to $352.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 21st. Scotiabank boosted their target price on shares of Essex Property Trust from $290.00 to $307.00 and gave the company an “outperform” rating in a research note on Thursday, July 9th. Royal Bank Of Canada increased their price objective on shares of Essex Property Trust from $306.00 to $312.00 and gave the stock an “outperform” rating in a research note on Friday, July 31st. Finally, Deutsche Bank Aktiengesellschaft set a $325.00 target price on Essex Property Trust in a report on Tuesday, August 18th. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $304.79.

Essex Property Trust Trading Down 0.5%

Shares of ESS stock opened at $292.00 on Wednesday. Essex Property Trust, Inc. has a 1 year low of $238.46 and a 1 year high of $303.35. The firm has a market capitalization of $18.77 billion, a PE ratio of 45.41, a price-to-earnings-growth ratio of 10.74 and a beta of 0.69. The stock has a fifty day moving average of $289.20 and a two-hundred day moving average of $270.40. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.60 and a current ratio of 0.60.

Essex Property Trust (NYSE:ESS) last announced its earnings results on Wednesday, July 29th. The real estate investment trust reported $4.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.46 by $2.62. Essex Property Trust had a net margin of 21.48% and a return on equity of 7.33%. The firm had revenue of $489.05 million during the quarter, compared to analyst estimates of $485.12 million. During the same quarter in the prior year, the firm posted $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. As a group, research analysts expect that Essex Property Trust, Inc. will post 16.18 EPS for the current year.

About Essex Property Trust

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.