Allianz Asset Management GmbH Cuts Stock Position in Essex Property Trust, Inc. $ESS

Key Points

• Allianz Asset Management GmbH has reduced its stake in Essex Property Trust, Inc. by 10.5%, with a current holding of 114,587 shares valued at approximately $32.47 million.
• Essex Property Trust reported a quarterly EPS of $4.03, which beat analysts' expectations by $0.04, and established guidance of 3.890-3.990 EPS for Q3 2025.
• The company announced a quarterly dividend of $2.57 per share, reflecting an annualized yield of 4.0% and a payout ratio of 82.64%.

Allianz Asset Management GmbH lessened its holdings in shares of Essex Property Trust, Inc. (NYSE:ESS - Free Report) by 10.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 114,587 shares of the real estate investment trust's stock after selling 13,452 shares during the quarter. Allianz Asset Management GmbH owned approximately 0.18% of Essex Property Trust worth $32,474,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its stake in Essex Property Trust by 0.8% during the 1st 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 during the last quarter. Valeo Financial Advisors LLC boosted its stake in 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 worth $843,969,000 after purchasing an additional 2,976,047 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in 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 worth $841,916,000 after purchasing an additional 1,096,619 shares during the last quarter. Wealthquest Corp acquired a new stake in Essex Property Trust during the 1st quarter worth $384,606,000. Finally, Northern Trust Corp boosted its stake in Essex Property Trust by 10.6% during the 1st quarter. Northern Trust Corp now owns 1,247,133 shares of the real estate investment trust's stock worth $382,334,000 after purchasing an additional 119,303 shares during the last quarter. Institutional investors and hedge funds own 96.51% of the company's stock.

Essex Property Trust Trading Up 0.8%

NYSE ESS opened at $259.69 on Friday. The firm's 50-day moving average is $263.46 and its two-hundred day moving average is $273.68. Essex Property Trust, Inc. has a 12 month low of $243.85 and a 12 month 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. The stock has a market capitalization of $16.72 billion, a P/E ratio of 20.88, a PEG ratio of 6.31 and a beta of 0.81.

Essex Property Trust (NYSE:ESS - Get Free Report) last posted its earnings results on Tuesday, July 29th. The real estate investment trust reported $4.03 EPS for the quarter, beating analysts' consensus estimates 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 company had revenue of $465.84 million for the quarter, compared to analysts' expectations of $466.47 million. During the same quarter in the prior year, the company posted $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, sell-side analysts anticipate that Essex Property Trust, Inc. will post 15.96 earnings per share for the current year.

Essex Property Trust Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 15th. Shareholders 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 yield of 4.0%. Essex Property Trust's dividend payout ratio is presently 82.64%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on ESS. Piper Sandler cut shares of Essex Property Trust from an "overweight" rating to a "neutral" rating and lowered their target price for the stock from $355.00 to $275.00 in a research note on Monday, August 4th. Barclays lowered their price target on shares of Essex Property Trust from $298.00 to $297.00 and set an "equal weight" rating on the stock in a research report on Tuesday, September 30th. Raymond James Financial raised shares of Essex Property Trust from a "market perform" rating to an "outperform" rating and set a $315.00 price target on the stock in a research report on Tuesday, June 24th. Scotiabank lowered their price target on shares of Essex Property Trust from $320.00 to $309.00 and set a "sector outperform" rating on the stock in a research report on Tuesday, August 5th. Finally, Weiss Ratings reissued a "hold (c+)" rating on shares of Essex Property Trust in a research report on Wednesday, October 8th. Seven analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and an average price target of $297.09.

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.

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