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Aberdeen Group plc Increases Stock Position in Essex Property Trust, Inc. $ESS

Essex Property Trust logo with Finance background

Key Points

  • Aberdeen Group plc has increased its stake in Essex Property Trust by 5.1%, now owning approximately 0.31% of the company valued at $56.3 million.
  • Essex Property Trust's recent quarterly earnings report revealed an EPS of $4.03, exceeding analyst expectations, while the firm also issued a quarterly dividend of $2.57 per share.
  • Analysts have mixed ratings on Essex Property Trust, with a consensus "Hold" rating and an average price target of $297.28, reflecting varied market sentiments.
  • Five stocks we like better than Essex Property Trust.

Aberdeen Group plc lifted its holdings in shares of Essex Property Trust, Inc. (NYSE:ESS - Free Report) by 5.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 202,798 shares of the real estate investment trust's stock after buying an additional 9,857 shares during the quarter. Aberdeen Group plc owned about 0.31% of Essex Property Trust worth $56,333,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of ESS. Valeo Financial Advisors LLC lifted its stake in shares of Essex Property Trust by 151,452.8% during the 2nd 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 buying an additional 2,976,047 shares in the last quarter. Wealthquest Corp purchased a new stake in shares of Essex Property Trust during the 1st quarter valued at approximately $384,606,000. Price T Rowe Associates Inc. MD lifted its stake in shares of Essex Property Trust by 66.5% during the 1st 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 buying an additional 1,096,619 shares in the last quarter. Resolution Capital Ltd lifted its stake in shares of Essex Property Trust by 59.0% during the 1st quarter. Resolution Capital Ltd now owns 821,968 shares of the real estate investment trust's stock valued at $251,991,000 after buying an additional 304,936 shares in the last quarter. Finally, Nuveen LLC purchased a new stake in shares of Essex Property Trust during the 1st quarter valued at approximately $91,014,000. 96.51% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have issued reports on ESS shares. Raymond James Financial upgraded shares of Essex Property Trust from a "market perform" rating to an "outperform" rating and set a $315.00 target price on the stock in a research note on Tuesday, June 24th. Barclays lowered their target price on shares of Essex Property Trust from $298.00 to $297.00 and set an "equal weight" rating on the stock in a research note on Tuesday, September 30th. UBS Group lowered their target price on shares of Essex Property Trust from $297.00 to $295.00 and set a "neutral" rating on the stock in a research note on Tuesday, July 15th. Evercore ISI increased their target price on shares of Essex Property Trust from $279.00 to $283.00 and gave the stock an "in-line" rating in a research note on Monday, September 15th. Finally, Royal Bank Of Canada increased their target price on shares of Essex Property Trust from $306.00 to $307.00 and gave the stock an "outperform" rating in a research note on Thursday, July 31st. Seven research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Essex Property Trust has a consensus rating of "Hold" and an average price target of $297.28.

Check Out Our Latest Stock Report on ESS

Essex Property Trust Price Performance

Shares of NYSE:ESS opened at $255.94 on Friday. The company's fifty day moving average price is $263.21 and its 200-day moving average price is $275.34. The firm has a market capitalization of $16.48 billion, a price-to-earnings ratio of 20.57, a PEG ratio of 6.21 and a beta of 0.81. Essex Property Trust, Inc. has a one year low of $243.85 and a one year high of $316.29. 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 (NYSE:ESS - Get Free Report) last issued its quarterly earnings results on Tuesday, July 29th. The real estate investment trust reported $4.03 EPS for the quarter, topping analysts' consensus estimates of $3.99 by $0.04. The firm had revenue of $465.84 million for the quarter, compared to analyst estimates of $466.47 million. Essex Property Trust had a net margin of 43.51% and a return on equity of 13.98%. During the same quarter in the prior year, the firm earned $3.94 EPS. 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, equities research analysts anticipate that Essex Property Trust, Inc. will post 15.96 earnings per share for the current fiscal year.

Essex Property Trust Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th will be issued a dividend of $2.57 per share. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $10.28 annualized dividend and a dividend yield of 4.0%. Essex Property Trust's dividend payout ratio (DPR) is currently 82.64%.

Essex Property Trust Company Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Essex Property Trust (NYSE:ESS)

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