Essex Property Trust, Inc. $ESS Shares Sold by Advisors Asset Management Inc.

Advisors Asset Management Inc. lowered its holdings in Essex Property Trust, Inc. (NYSE:ESS) by 4.4% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,108 shares of the real estate investment trust’s stock after selling 96 shares during the quarter. Advisors Asset Management Inc.’s holdings in Essex Property Trust were worth $646,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of ESS. QRG Capital Management Inc. purchased a new stake in Essex Property Trust in the 1st quarter valued at about $653,000. CWA Asset Management Group LLC lifted its holdings in shares of Essex Property Trust by 10.0% in the 1st quarter. CWA Asset Management Group LLC now owns 883 shares of the real estate investment trust’s stock worth $271,000 after acquiring an additional 80 shares during the last quarter. Intact Investment Management Inc. acquired a new stake in Essex Property Trust in the 1st quarter valued at approximately $705,000. Asset Management One Co. Ltd. increased its holdings in Essex Property Trust by 1.2% in the 1st quarter. Asset Management One Co. Ltd. now owns 133,886 shares of the real estate investment trust’s stock valued at $41,045,000 after purchasing an additional 1,569 shares during the last quarter. Finally, Kentucky Retirement Systems Insurance Trust Fund purchased a new stake in Essex Property Trust in the first quarter valued at approximately $569,000. 96.51% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on ESS shares. Mizuho dropped their price objective on Essex Property Trust from $314.00 to $293.00 and set an “outperform” rating for the company in a research note on Friday, May 23rd. BMO Capital Markets lifted their target price on Essex Property Trust from $315.00 to $317.00 and gave the company an “outperform” rating in a research report on Wednesday, May 28th. Evercore ISI cut their price target on shares of Essex Property Trust from $285.00 to $279.00 and set an “in-line” rating on the stock in a research note on Tuesday, August 12th. Raymond James Financial raised shares of Essex Property Trust from a “market perform” rating to an “outperform” rating and set a $315.00 price objective for the company in a research note on Tuesday, June 24th. Finally, Royal Bank Of Canada lifted their price objective on shares of Essex Property Trust from $306.00 to $307.00 and gave the company an “outperform” rating in a report on Thursday, July 31st. Six analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $298.41.

Essex Property Trust Stock Performance

Shares of ESS stock opened at $263.83 on Thursday. The company has a market cap of $16.99 billion, a P/E ratio of 21.21, a PEG ratio of 6.91 and a beta of 0.83. The firm has a fifty day moving average price of $271.17 and a 200 day moving average price of $281.07. 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, Inc. has a 12 month low of $243.85 and a 12 month high of $317.73.

Essex Property Trust (NYSE:ESS) last posted its earnings results on Tuesday, July 29th. The real estate investment trust reported $4.03 earnings per share for the quarter, topping the consensus estimate 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 firm had revenue of $465.84 million during the quarter, compared to analysts’ expectations of $466.47 million. During the same quarter in the previous year, the business earned $3.94 earnings per share. Essex Property Trust has set its Q3 2025 guidance at 3.890-3.990 EPS. FY 2025 guidance at 15.800-16.020 EPS. Sell-side analysts predict that Essex Property Trust, Inc. will post 15.96 earnings per share for the current fiscal year.

Essex Property Trust Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th will be paid a dividend of $2.57 per share. The ex-dividend date is Tuesday, September 30th. This represents a $10.28 dividend on an annualized basis and a yield of 3.9%. Essex Property Trust’s dividend payout ratio is currently 82.64%.

Essex Property Trust 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.