Meiji Yasuda Asset Management Co Ltd. Sells 12,478 Shares of Essex Property Trust, Inc. $ESS

Key Points

• Meiji Yasuda Asset Management Co Ltd. reduced its stake in Essex Property Trust by 27.6% in Q1, now holding approximately 32,724 shares, valued at $10.03 million.
• Essex Property Trust reported $4.03 earnings per share (EPS) for the last quarter, surpassing expectations of $3.99, and set Q3 2025 guidance between $3.890 and $3.990 EPS.
• The company announced a quarterly dividend of $2.57 per share, which will be paid on October 15th, representing a 3.8% yield.

Meiji Yasuda Asset Management Co Ltd. reduced its position in Essex Property Trust, Inc. (NYSE:ESS - Free Report) by 27.6% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 32,724 shares of the real estate investment trust's stock after selling 12,478 shares during the quarter. Meiji Yasuda Asset Management Co Ltd. owned approximately 0.05% of Essex Property Trust worth $10,032,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. QRG Capital Management Inc. bought a new position in shares of Essex Property Trust in the first quarter worth $653,000. CWA Asset Management Group LLC boosted its holdings in shares of Essex Property Trust by 10.0% in the first quarter. CWA Asset Management Group LLC now owns 883 shares of the real estate investment trust's stock worth $271,000 after acquiring an additional 80 shares during the period. Intact Investment Management Inc. bought a new position in shares of Essex Property Trust in the first quarter worth $705,000. Asset Management One Co. Ltd. boosted its holdings in shares of Essex Property Trust by 1.2% in the first quarter. Asset Management One Co. Ltd. now owns 133,886 shares of the real estate investment trust's stock worth $41,045,000 after acquiring an additional 1,569 shares during the period. Finally, Kentucky Retirement Systems Insurance Trust Fund bought a new position in shares of Essex Property Trust in the first quarter worth $569,000. 96.51% of the stock is owned by institutional investors.

Essex Property Trust Stock Down 0.6%

Shares of Essex Property Trust stock traded down $1.58 during midday trading on Friday, hitting $267.23. The company had a trading volume of 259,285 shares, compared to its average volume of 369,991. The company has a debt-to-equity ratio of 1.16, a quick ratio of 1.09 and a current ratio of 1.09. The stock has a market capitalization of $17.21 billion, a P/E ratio of 21.48, a P/E/G ratio of 6.91 and a beta of 0.83. The company has a 50 day moving average of $270.54 and a 200 day moving average of $280.64. Essex Property Trust, Inc. has a 52-week low of $243.85 and a 52-week high of $317.73.

Essex Property Trust (NYSE:ESS - Get Free Report) last posted its quarterly earnings results on Tuesday, July 29th. The real estate investment trust reported $4.03 earnings per share for the quarter, topping the consensus estimate of $3.99 by $0.04. The company had revenue of $465.84 million for the quarter, compared to the consensus estimate 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 quarter in the prior year, the business posted $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 analysts predict that Essex Property Trust, Inc. will post 15.96 earnings per share for the current fiscal year.

Essex Property Trust Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th will be paid a $2.57 dividend. The ex-dividend date is Tuesday, September 30th. This represents a $10.28 annualized dividend and a dividend yield of 3.8%. Essex Property Trust's dividend payout ratio is presently 82.64%.

Analysts Set New Price Targets

A number of equities analysts have recently commented on ESS shares. Morgan Stanley cut their price target on Essex Property Trust from $304.00 to $285.00 and set an "equal weight" rating for the company in a report on Wednesday, August 13th. Wall Street Zen upgraded Essex Property Trust from a "sell" rating to a "hold" rating in a research report on Saturday, August 2nd. Truist Financial lowered their target price on Essex Property Trust from $295.00 to $283.00 and set a "hold" rating for the company in a research note on Tuesday, August 12th. UBS Group lowered their target price on Essex Property Trust from $297.00 to $295.00 and set a "neutral" rating for the company in a research note on Tuesday, July 15th. Finally, Wells Fargo & Company lowered their target price on Essex Property Trust from $325.00 to $279.00 and set an "equal weight" rating for the company in a research note on Wednesday, August 27th. Six analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, Essex Property Trust currently has a consensus rating of "Hold" and an average price target of $298.41.

About Essex Property Trust

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.