Essex Property Trust, Inc. $ESS Shares Purchased by Federation des caisses Desjardins du Quebec

Key Points

• The Federation des caisses Desjardins du Quebec increased its stake in Essex Property Trust, Inc. by 227.0% in Q1, owning 4,123 shares worth approximately $1,264,000 at quarter's end.
• Essex Property Trust reported $4.03 EPS for the last quarter, surpassing estimates and displaying a 43.51% net margin, while forecasting 15.96 EPS for the current fiscal year.
• The company declared a quarterly dividend of $2.57, with a payout ratio of 82.64% and an annualized dividend yield of 3.8%.

Federation des caisses Desjardins du Quebec lifted its position in Essex Property Trust, Inc. (NYSE:ESS - Free Report) by 227.0% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,123 shares of the real estate investment trust's stock after purchasing an additional 2,862 shares during the quarter. Federation des caisses Desjardins du Quebec's holdings in Essex Property Trust were worth $1,264,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in ESS. Algert Global LLC acquired a new stake in shares of Essex Property Trust in the 4th quarter valued at about $374,000. Captrust Financial Advisors lifted its position in Essex Property Trust by 11.5% during the 4th quarter. Captrust Financial Advisors now owns 1,629 shares of the real estate investment trust's stock worth $465,000 after acquiring an additional 168 shares during the period. Cetera Investment Advisers lifted its position in Essex Property Trust by 4.0% during the 4th quarter. Cetera Investment Advisers now owns 3,014 shares of the real estate investment trust's stock worth $860,000 after acquiring an additional 115 shares during the period. Cubist Systematic Strategies LLC acquired a new stake in Essex Property Trust during the 4th quarter worth approximately $192,000. Finally, CoreCap Advisors LLC lifted its position in Essex Property Trust by 17.7% during the 4th quarter. CoreCap Advisors LLC now owns 365 shares of the real estate investment trust's stock worth $104,000 after acquiring an additional 55 shares during the period. 96.51% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have weighed in on the company. Stifel Nicolaus increased their price objective on Essex Property Trust from $301.50 to $305.50 and gave the stock a "hold" rating in a research report on Wednesday, July 30th. Raymond James Financial raised Essex Property Trust from a "market perform" rating to an "outperform" rating and set a $315.00 price objective for the company in a research report on Tuesday, June 24th. Wells Fargo & Company decreased their price objective on Essex Property Trust from $325.00 to $279.00 and set an "equal weight" rating for the company in a research report on Wednesday, August 27th. Morgan Stanley decreased their price objective on Essex Property Trust from $304.00 to $285.00 and set an "equal weight" rating for the company in a research report on Wednesday, August 13th. Finally, Truist Financial reduced their price target on Essex Property Trust from $295.00 to $283.00 and set a "hold" rating for the company in a report on Tuesday, August 12th. Seven research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $300.44.

Essex Property Trust Stock Performance

Shares of ESS stock opened at $268.09 on Monday. The stock has a fifty day moving average price of $272.24 and a 200 day moving average price of $281.48. The stock has a market cap of $17.27 billion, a PE ratio of 21.55, a P/E/G ratio of 6.89 and a beta of 0.83. Essex Property Trust, Inc. has a 1 year low of $243.85 and a 1 year high of $317.73. The company has a debt-to-equity ratio of 1.16, a quick ratio of 1.09 and a current ratio of 1.09.

Essex Property Trust (NYSE:ESS - Get Free Report) last issued its quarterly earnings data on Tuesday, July 29th. The real estate investment trust reported $4.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.99 by $0.04. The firm had revenue of $465.84 million during the quarter, compared to analysts' expectations of $466.47 million. Essex Property Trust had a return on equity of 13.98% and a net margin of 43.51%.During the same period in the previous year, the firm 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. Sell-side analysts forecast that Essex Property Trust, Inc. will post 15.96 earnings per share for the current fiscal year.

Essex Property Trust Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th will be given a $2.57 dividend. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $10.28 dividend on an annualized basis and a dividend yield of 3.8%. Essex Property Trust's payout ratio is currently 82.64%.

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.

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