Goldman Sachs Group Inc. Has $112.88 Million Holdings in Essex Property Trust, Inc. $ESS

Key Points

• Goldman Sachs Group Inc. has reduced its stake in Essex Property Trust by 3.8% during Q1, holding approximately $112.88 million in shares after selling 14,562 shares.
• Several institutional investors have increased their stakes in Essex Property Trust, including Vanguard Group, which boosted its investment by 0.8% last quarter.
• Essex Property Trust recently announced a quarterly dividend of $2.57 per share, representing a 3.8% yield, with a payout ratio of 82.64%.

Goldman Sachs Group Inc. trimmed its holdings in shares of Essex Property Trust, Inc. (NYSE:ESS - Free Report) by 3.8% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 368,207 shares of the real estate investment trust's stock after selling 14,562 shares during the quarter. Goldman Sachs Group Inc. owned 0.57% of Essex Property Trust worth $112,881,000 as of its most recent filing with the SEC.

A number of other large investors have also bought and sold shares of ESS. QRG Capital Management Inc. bought a new position in shares of Essex Property Trust during the 1st quarter worth approximately $653,000. CWA Asset Management Group LLC grew its stake in shares of Essex Property Trust by 10.0% during the 1st 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 in the last quarter. Intact Investment Management Inc. bought a new position in shares of Essex Property Trust during the 1st quarter worth approximately $705,000. Asset Management One Co. Ltd. grew its stake in shares of Essex Property Trust by 1.2% during the 1st 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 in the last quarter. Finally, Kentucky Retirement Systems Insurance Trust Fund bought a new position in shares of Essex Property Trust during the 1st quarter worth approximately $569,000. 96.51% of the stock is owned by institutional investors.

Essex Property Trust Stock Performance

Essex Property Trust stock traded up $2.61 during mid-day trading on Thursday, hitting $268.84. 385,045 shares of the company's stock traded hands, compared to its average volume of 354,780. The firm has a 50 day simple moving average of $269.00 and a two-hundred day simple moving average of $279.49. Essex Property Trust, Inc. has a fifty-two week low of $243.85 and a fifty-two week high of $316.31. The stock has a market cap of $17.31 billion, a price-to-earnings ratio of 21.61, a P/E/G ratio of 6.84 and a beta of 0.83. The company has a debt-to-equity ratio of 1.16, a current ratio of 1.09 and a quick ratio of 1.09.

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 earnings per share for the quarter, topping analysts' consensus estimates of $3.99 by $0.04. Essex Property Trust had a return on equity of 13.98% and a net margin of 43.51%.The company had revenue of $465.84 million during the quarter, compared to the consensus estimate of $466.47 million. During the same quarter last year, the firm earned $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, research analysts expect that Essex Property Trust, Inc. will post 15.96 EPS for the current fiscal year.

Essex Property Trust Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th will be issued a dividend of $2.57 per share. 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 dividend payout ratio (DPR) is currently 82.64%.

Wall Street Analyst Weigh In

ESS has been the subject of several research reports. 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 for the company in a research note on Tuesday, June 24th. BMO Capital Markets increased their price objective on Essex Property Trust from $315.00 to $317.00 and gave the company an "outperform" rating in a report on Wednesday, May 28th. Mizuho cut their price objective on Essex Property Trust from $314.00 to $293.00 and set an "outperform" rating for the company in a report on Friday, May 23rd. Royal Bank Of Canada increased their price objective on Essex Property Trust from $306.00 to $307.00 and gave the company an "outperform" rating in a report on Thursday, July 31st. Finally, Wall Street Zen raised Essex Property Trust from a "sell" rating to a "hold" rating in a report on Saturday, August 2nd. Six analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Essex Property Trust presently has an average rating of "Hold" and a consensus price target of $298.66.

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.