Candriam S.C.A. Sells 265 Shares of Essex Property Trust, Inc. $ESS

Candriam S.C.A. lessened its holdings in Essex Property Trust, Inc. (NYSE:ESS) by 5.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 4,620 shares of the real estate investment trust’s stock after selling 265 shares during the quarter. Candriam S.C.A.’s holdings in Essex Property Trust were worth $1,309,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of ESS. Vanguard Group Inc. increased its holdings in shares of 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 acquiring an additional 87,117 shares in the last quarter. Korea Investment CORP grew its position in shares of Essex Property Trust by 26.7% in the 1st quarter. Korea Investment CORP now owns 75,510 shares of the real estate investment trust’s stock valued at $23,149,000 after purchasing an additional 15,912 shares during the period. Spire Wealth Management raised its holdings in Essex Property Trust by 12,050.0% during the 2nd quarter. Spire Wealth Management now owns 243 shares of the real estate investment trust’s stock worth $69,000 after buying an additional 241 shares during the period. Spirit of America Management Corp NY lifted its stake in Essex Property Trust by 19.9% in the second quarter. Spirit of America Management Corp NY now owns 9,636 shares of the real estate investment trust’s stock valued at $2,731,000 after buying an additional 1,600 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in shares of Essex Property Trust by 8.5% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 174,727 shares of the real estate investment trust’s stock valued at $53,566,000 after buying an additional 13,628 shares during the period. Institutional investors and hedge funds own 96.51% of the company’s stock.

Analysts Set New Price Targets

ESS has been the topic of several research reports. Evercore ISI cut their price objective on shares of Essex Property Trust from $279.00 to $271.00 and set a “cautious” rating on the stock in a research report on Monday, November 3rd. BNP Paribas downgraded Essex Property Trust from an “outperform” rating to a “hold” rating in a research note on Monday, September 29th. Wells Fargo & Company reduced their price objective on Essex Property Trust from $280.00 to $268.00 and set an “equal weight” rating for the company in a research report on Monday, November 10th. Stifel Nicolaus increased their price objective on Essex Property Trust from $301.50 to $305.50 and gave the stock a “hold” rating in a report on Wednesday, July 30th. Finally, Scotiabank cut their target price on Essex Property Trust from $294.00 to $284.00 and set a “sector outperform” rating on the stock in a research note on Tuesday, November 4th. Seven research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $292.53.

Essex Property Trust Stock Down 0.8%

ESS stock opened at $252.58 on Tuesday. The company has a market cap of $16.27 billion, a price-to-earnings ratio of 19.19, a P/E/G ratio of 6.00 and a beta of 0.82. Essex Property Trust, Inc. has a twelve month low of $243.25 and a twelve month high of $316.29. The business has a 50 day moving average price of $261.26 and a two-hundred day moving average price of $271.45. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 1.16.

Essex Property Trust (NYSE:ESS) last released its quarterly earnings data on Wednesday, October 29th. The real estate investment trust reported $3.97 EPS for the quarter, beating the consensus estimate of $3.96 by $0.01. The company had revenue of $473.30 million during the quarter, compared to the consensus estimate of $472.11 million. Essex Property Trust had a return on equity of 14.70% and a net margin of 45.46%.During the same quarter in the prior year, the firm posted $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. Analysts anticipate that Essex Property Trust, Inc. will post 15.96 EPS for the current fiscal year.

Essex Property Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 15th. Stockholders 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 annualized dividend and a dividend yield of 4.1%. Essex Property Trust’s payout ratio is currently 78.12%.

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.