Barings LLC Invests $829,000 in Essex Property Trust, Inc. $ESS

Barings LLC purchased a new position in shares of Essex Property Trust, Inc. (NYSE:ESS) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 3,019 shares of the real estate investment trust’s stock, valued at approximately $829,000.

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

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. Wall Street Zen upgraded shares of Essex Property Trust from a “sell” rating to a “hold” rating in a research note on Saturday, November 8th. Wells Fargo & Company dropped their target price on shares of Essex Property Trust from $280.00 to $268.00 and set an “equal weight” rating for the company in a report on Monday, November 10th. Royal Bank Of Canada boosted their price target on Essex Property Trust from $306.00 to $307.00 and gave the stock an “outperform” rating in a research note on Thursday, July 31st. Piper Sandler cut Essex Property Trust from an “overweight” rating to a “neutral” rating and lowered their price target for the stock from $355.00 to $275.00 in a report on Monday, August 4th. Finally, Cantor Fitzgerald started coverage on Essex Property Trust in a report on Wednesday, October 1st. They set an “overweight” rating and a $300.00 price objective for the company. Seven research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $292.53.

Essex Property Trust Stock Up 2.0%

ESS stock opened at $260.87 on Friday. The company has a debt-to-equity ratio of 1.16, a current ratio of 1.09 and a quick ratio of 1.09. The company’s 50 day simple moving average is $260.38 and its 200-day simple moving average is $270.66. Essex Property Trust, Inc. has a 12 month low of $243.25 and a 12 month high of $316.29. The firm has a market capitalization of $16.80 billion, a PE ratio of 19.82, a P/E/G ratio of 6.00 and a beta of 0.82.

Essex Property Trust (NYSE:ESS) last announced its earnings results on Wednesday, October 29th. The real estate investment trust reported $3.97 EPS for the quarter, beating analysts’ consensus estimates of $3.96 by $0.01. The firm had revenue of $473.30 million for the quarter, compared to analysts’ expectations 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 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. Equities analysts expect that Essex Property Trust, Inc. will post 15.96 earnings per share for the current fiscal year.

Essex Property Trust Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th were paid a $2.57 dividend. This represents a $10.28 annualized dividend and a yield of 3.9%. The ex-dividend date of this dividend was Tuesday, September 30th. Essex Property Trust’s payout ratio is presently 78.12%.

Essex Property Trust Company 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.