Corient Private Wealth LLC Boosts Stock Position in Essex Property Trust, Inc. $ESS

Key Points

• Corient Private Wealth LLC increased its stake in Essex Property Trust by 180.4% in the fourth quarter, ending with 9,838 shares valued at about $2.58 million.
• Essex Property Trust reported Q1 earnings of $1.65 per share, well below analyst expectations of $3.96, though revenue of $484.76 million slightly topped estimates.
• The company declared a quarterly dividend of $2.59 per share, which implies an annualized yield of 3.5%, even as its payout ratio stands at 116.4%.

Corient Private Wealth LLC boosted its position in shares of Essex Property Trust, Inc. (NYSE:ESS - Free Report) by 180.4% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 9,838 shares of the real estate investment trust's stock after acquiring an additional 6,330 shares during the quarter. Corient Private Wealth LLC's holdings in Essex Property Trust were worth $2,575,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Dorsey & Whitney Trust CO LLC lifted its position in shares of 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 worth $213,000 after purchasing an additional 40 shares in the last quarter. Segment Wealth Management LLC grew its holdings in shares of Essex Property Trust by 5.1% in the fourth quarter. Segment Wealth Management LLC now owns 913 shares of the real estate investment trust's stock valued at $239,000 after purchasing an additional 44 shares in the last quarter. Norinchukin Bank The grew its holdings in shares of Essex Property Trust by 0.6% in 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 in the last quarter. Signaturefd LLC increased its stake in Essex Property Trust by 11.3% during the 4th quarter. Signaturefd LLC now owns 445 shares of the real estate investment trust's stock worth $116,000 after buying an additional 45 shares during the period. Finally, Tokio Marine Asset Management Co. Ltd. increased its stake in Essex Property Trust by 2.0% during the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 2,537 shares of the real estate investment trust's stock worth $664,000 after buying an additional 50 shares during the period. 96.51% of the stock is currently owned by hedge funds and other institutional investors.

Essex Property Trust Trading Up 0.0%

Shares of ESS stock opened at $295.38 on Monday. The company has a market capitalization of $18.98 billion, a P/E ratio of 33.19, a price-to-earnings-growth ratio of 12.72 and a beta of 0.72. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 1.22. The business's 50 day moving average is $272.25 and its two-hundred day moving average is $260.01. Essex Property Trust, Inc. has a twelve month low of $238.46 and a twelve month high of $295.85.

Essex Property Trust (NYSE:ESS - Get Free Report) last announced its quarterly earnings data on Tuesday, April 28th. The real estate investment trust reported $1.65 earnings per share for the quarter, missing analysts' consensus estimates of $3.96 by ($2.31). The business had revenue of $484.76 million during the quarter, compared to analysts' expectations of $479.89 million. Essex Property Trust had a net margin of 30.03% and a return on equity of 10.00%. During the same period in the prior year, the firm posted $3.97 EPS. Essex Property Trust has set its Q2 2026 guidance at 3.920-4.040 EPS. Equities analysts forecast that Essex Property Trust, Inc. will post 16.12 EPS for the current year.

Essex Property Trust Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th will be given a dividend of $2.59 per share. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $10.36 annualized dividend and a yield of 3.5%. Essex Property Trust's dividend payout ratio (DPR) is presently 116.40%.

Wall Street Analyst Weigh In

Several equities analysts have commented on ESS shares. Wall Street Zen cut shares of Essex Property Trust from a "hold" rating to a "sell" rating in a research report on Sunday, June 21st. Robert W. Baird upped their price objective on Essex Property Trust from $279.00 to $281.00 and gave the stock a "neutral" rating in a research report on Monday, March 2nd. Barclays increased their price objective on Essex Property Trust from $272.00 to $277.00 and gave the company an "equal weight" rating in a research note on Monday, May 11th. Morgan Stanley lifted their target price on Essex Property Trust from $293.00 to $302.00 and gave the company an "equal weight" rating in a report on Thursday. Finally, Evercore reissued an "outperform" rating and set a $296.00 target price on shares of Essex Property Trust in a research note on Monday, June 8th. Nine equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Essex Property Trust currently has an average rating of "Hold" and a consensus target price of $292.08.

Insiders Place Their Bets

In other news, Director Mary Kasaris sold 600 shares of Essex Property Trust stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $279.45, for a total transaction of $167,670.00. Following the completion of the sale, the director directly owned 2,394 shares in the company, valued at $669,003.30. The trade was a 20.04% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 3.47% of the company's stock.

Essex Property Trust Company Profile

Essex Property Trust, Inc NYSE: ESS is a publicly traded real estate investment trust that acquires, develops, owns and operates multifamily residential properties. The company focuses on market-rate apartment communities and delivers a full suite of property services including leasing, resident services, asset management, and capital improvement programs designed to preserve and enhance long‑term property values.

Essex concentrates its portfolio in West Coast markets, with a significant presence in California and the Pacific Northwest.

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