Allspring Global Investments Holdings LLC Sells 112 Shares of Essex Property Trust, Inc. $ESS

Allspring Global Investments Holdings LLC cut its holdings in Essex Property Trust, Inc. (NYSE:ESS) by 3.9% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,792 shares of the real estate investment trust’s stock after selling 112 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Essex Property Trust were worth $795,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the business. Vanguard Group Inc. boosted its holdings in Essex Property Trust by 0.8% in the first quarter. Vanguard Group Inc. now owns 10,440,274 shares of the real estate investment trust’s stock worth $3,200,675,000 after purchasing an additional 87,117 shares in the last quarter. Valeo Financial Advisors LLC boosted its holdings in Essex Property Trust by 151,452.8% during the second quarter. Valeo Financial Advisors LLC now owns 2,978,012 shares of the real estate investment trust’s stock valued at $843,969,000 after acquiring an additional 2,976,047 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in Essex Property Trust by 66.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 2,746,242 shares of the real estate investment trust’s stock valued at $841,916,000 after acquiring an additional 1,096,619 shares during the period. Wealthquest Corp bought a new stake in Essex Property Trust during the first quarter valued at about $384,606,000. Finally, Northern Trust Corp boosted its holdings in Essex Property Trust by 10.6% during the first quarter. Northern Trust Corp now owns 1,247,133 shares of the real estate investment trust’s stock valued at $382,334,000 after acquiring an additional 119,303 shares during the period. 96.51% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. Barclays decreased their price target on shares of Essex Property Trust from $298.00 to $297.00 and set an “equal weight” rating for the company in a report on Tuesday, September 30th. Wells Fargo & Company upped their price target on shares of Essex Property Trust from $279.00 to $280.00 and gave the company an “equal weight” rating in a report on Monday, October 13th. Truist Financial decreased their price target on shares of Essex Property Trust from $295.00 to $283.00 and set a “hold” rating for the company in a report on Tuesday, August 12th. UBS Group decreased their price target on shares of Essex Property Trust from $297.00 to $295.00 and set a “neutral” rating for the company in a report on Tuesday, July 15th. Finally, BNP Paribas Exane cut shares of Essex Property Trust from an “outperform” rating to a “neutral” rating in a report on Monday, September 29th. Seven research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $297.09.

Essex Property Trust Stock Down 0.1%

NYSE ESS opened at $263.91 on Friday. The company has a debt-to-equity ratio of 1.16, a quick ratio of 1.09 and a current ratio of 1.09. The firm has a 50-day simple moving average of $264.06 and a 200 day simple moving average of $273.33. Essex Property Trust, Inc. has a twelve month low of $243.85 and a twelve month high of $316.29. The stock has a market cap of $17.00 billion, a PE ratio of 21.21, a PEG ratio of 6.42 and a beta of 0.81.

Essex Property Trust (NYSE:ESS) last released its earnings results on Tuesday, July 29th. The real estate investment trust reported $4.03 earnings per share for the quarter, beating the consensus estimate of $3.99 by $0.04. Essex Property Trust had a net margin of 43.51% and a return on equity of 13.98%. The business had revenue of $465.84 million during the quarter, compared to analysts’ expectations of $466.47 million. During the same quarter last year, the company 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. On average, research analysts forecast that Essex Property Trust, Inc. will post 15.96 EPS for the current year.

Essex Property Trust Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th were paid a dividend of $2.57 per share. The ex-dividend date was 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 (DPR) is currently 82.64%.

About Essex Property Trust

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.