Bessemer Group Inc. Sells 2,109 Shares of Essex Property Trust, Inc. $ESS

Bessemer Group Inc. trimmed its position in shares of Essex Property Trust, Inc. (NYSE:ESS) by 57.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,556 shares of the real estate investment trust’s stock after selling 2,109 shares during the period. Bessemer Group Inc.’s holdings in Essex Property Trust were worth $441,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of ESS. Wealthquest Corp bought a new position in shares of Essex Property Trust during the first quarter valued at about $384,606,000. D.A. Davidson & CO. bought a new position in shares of Essex Property Trust during the first quarter valued at about $230,000. GF Fund Management CO. LTD. raised its stake in shares of Essex Property Trust by 4.3% during the first quarter. GF Fund Management CO. LTD. now owns 1,217 shares of the real estate investment trust’s stock valued at $373,000 after acquiring an additional 50 shares during the last quarter. IFM Investors Pty Ltd increased its position in Essex Property Trust by 5.1% during the 1st quarter. IFM Investors Pty Ltd now owns 29,045 shares of the real estate investment trust’s stock valued at $8,580,000 after purchasing an additional 1,401 shares during the period. Finally, World Investment Advisors increased its position in Essex Property Trust by 10.0% during the 1st quarter. World Investment Advisors now owns 1,955 shares of the real estate investment trust’s stock valued at $599,000 after purchasing an additional 178 shares during the period. 96.51% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

ESS has been the topic of a number of research analyst reports. UBS Group reduced their price objective on shares of Essex Property Trust from $297.00 to $295.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 15th. Truist Financial reduced their price objective on shares of Essex Property Trust from $295.00 to $283.00 and set a “hold” rating on the stock in a research report on Tuesday, August 12th. BNP Paribas downgraded Essex Property Trust from an “outperform” rating to a “hold” rating in a report on Monday, September 29th. Royal Bank Of Canada upped their target price on Essex Property Trust from $306.00 to $307.00 and gave the stock an “outperform” rating in a report on Thursday, July 31st. Finally, Piper Sandler downgraded Essex Property Trust from an “overweight” rating to a “neutral” rating and reduced their target price for the stock from $355.00 to $275.00 in a report on Monday, August 4th. Seven equities 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. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $297.09.

Essex Property Trust Stock Up 1.0%

NYSE:ESS opened at $252.21 on Monday. The firm’s 50-day moving average price is $263.33 and its 200-day moving average price is $273.00. The company has a market capitalization of $16.24 billion, a PE ratio of 19.16, a P/E/G ratio of 6.00 and a beta of 0.81. The company has a debt-to-equity ratio of 1.16, a current ratio of 1.09 and a quick ratio of 1.09. Essex Property Trust, Inc. has a 1-year low of $243.25 and a 1-year high of $316.29.

Essex Property Trust (NYSE:ESS) last released its earnings results on Wednesday, October 29th. The real estate investment trust reported $3.97 earnings per share for the quarter, topping analysts’ consensus estimates of $3.96 by $0.01. The firm had revenue of $473.30 million for the quarter, compared to the consensus estimate of $472.11 million. Essex Property Trust had a net margin of 45.46% and a return on equity of 14.70%. During the same period in the prior year, the firm earned $3.91 EPS. Essex Property Trust has set its Q4 2025 guidance at 3.930-4.030 EPS. FY 2025 guidance at 15.890-15.990 EPS. On average, equities analysts predict that Essex Property Trust, Inc. will post 15.96 EPS for the current fiscal year.

Essex Property Trust Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th were given a $2.57 dividend. The ex-dividend date of this dividend was Tuesday, September 30th. This represents a $10.28 dividend on an annualized basis and a dividend yield of 4.1%. Essex Property Trust’s dividend payout ratio is currently 78.12%.

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.