Amundi Trims Holdings in Essex Property Trust, Inc. $ESS

Amundi reduced its stake in shares of Essex Property Trust, Inc. (NYSE:ESS - Free Report) by 13.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 206,905 shares of the real estate investment trust's stock after selling 31,856 shares during the period. Amundi owned about 0.32% of Essex Property Trust worth $60,331,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the company. Dorsey & Whitney Trust CO LLC raised its stake in Essex Property Trust by 5.2% during the fourth quarter. Dorsey & Whitney Trust CO LLC now owns 814 shares of the real estate investment trust's stock valued at $213,000 after buying an additional 40 shares in the last quarter. Norinchukin Bank The increased its stake in Essex Property Trust by 0.6% during the third quarter. Norinchukin Bank The now owns 6,957 shares of the real estate investment trust's stock valued at $1,862,000 after purchasing an additional 44 shares during the last quarter. Kestra Private Wealth Services LLC increased its stake in Essex Property Trust by 1.7% during the first quarter. Kestra Private Wealth Services LLC now owns 3,047 shares of the real estate investment trust's stock valued at $737,000 after purchasing an additional 50 shares during the last quarter. EverSource Wealth Advisors LLC raised its holdings in shares of Essex Property Trust by 31.2% during the first quarter. EverSource Wealth Advisors LLC now owns 265 shares of the real estate investment trust's stock worth $64,000 after purchasing an additional 63 shares during the period. Finally, Valeo Financial Advisors LLC raised its holdings in shares of Essex Property Trust by 3.7% during the fourth quarter. Valeo Financial Advisors LLC now owns 2,034 shares of the real estate investment trust's stock worth $532,000 after purchasing an additional 72 shares during the period. 96.51% of the stock is currently owned by institutional investors and hedge funds.

Essex Property Trust Price Performance

NYSE ESS opened at $271.49 on Friday. Essex Property Trust, Inc. has a 52 week low of $238.46 and a 52 week high of $303.35. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 1.22. The stock has a market cap of $17.45 billion, a price-to-earnings ratio of 42.22, a price-to-earnings-growth ratio of 10.03 and a beta of 0.69. The company has a 50-day moving average price of $287.82 and a two-hundred day moving average price of $272.44.

Essex Property Trust (NYSE:ESS - Get Free Report) last released its quarterly earnings results on Wednesday, July 29th. The real estate investment trust reported $4.08 earnings per share for the quarter, beating analysts' consensus estimates of $1.46 by $2.62. Essex Property Trust had a return on equity of 7.33% and a net margin of 21.48%.The company had revenue of $489.05 million for the quarter, compared to analysts' expectations of $485.12 million. During the same quarter in the previous year, the company posted $4.03 earnings per share. Essex Property Trust has set its Q3 2026 guidance at 3.930-4.050 EPS and its FY 2026 guidance at 16.030-16.250 EPS. Analysts forecast that Essex Property Trust, Inc. will post 16.18 EPS for the current year.

Essex Property Trust Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th will be paid a $2.59 dividend. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a $10.36 annualized dividend and a dividend yield of 3.8%. Essex Property Trust's dividend payout ratio is presently 161.12%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on ESS. UBS Group set a $290.00 price target on shares of Essex Property Trust in a report on Thursday, June 18th. Wells Fargo & Company increased their price objective on shares of Essex Property Trust from $280.00 to $297.00 and gave the stock an "equal weight" rating in a research note on Wednesday, July 22nd. Stifel Nicolaus set a $292.75 target price on shares of Essex Property Trust in a report on Thursday, July 30th. Citigroup upgraded Essex Property Trust from a "buy" rating to an "outperform" rating in a research note on Friday, July 31st. Finally, JPMorgan Chase & Co. upped their target price on Essex Property Trust from $275.00 to $295.00 and gave the company an "underweight" rating in a report on Friday, August 14th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $304.14.

Essex Property Trust Profile

Essex Property Trust, Inc is a self-administered and self-managed real estate investment trust that owns, operates, develops and redevelops multifamily residential communities. Its portfolio primarily consists of apartment homes, supported by property management, maintenance and resident services.

The company focuses on high-demand coastal markets on the West Coast, particularly Northern and Southern California and the Seattle metropolitan area in Washington. Essex's properties are generally located near employment centers, transportation networks and other amenities, serving renters in major urban and suburban communities.

Founded in 1971, Essex Property Trust became a publicly traded real estate investment trust in 1994.

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