Gotham Asset Management LLC Has $16.27 Million Stock Holdings in Essex Property Trust, Inc. $ESS

Key Points

• Gotham Asset Management LLC has reduced its holdings in Essex Property Trust by 2.9%, now owning approximately 0.08% of the company valued at $16.27 million.
• Essex Property Trust announced a quarterly dividend of $2.57 per share, representing a 3.8% dividend yield, with the payment scheduled for October 15th.
• Analyst ratings for Essex Property Trust are mixed, with seven analysts rating it as a "Buy" while ten have issued a "Hold" rating, indicating varied investor sentiment.

Gotham Asset Management LLC reduced its position in shares of Essex Property Trust, Inc. (NYSE:ESS - Free Report) by 2.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 53,084 shares of the real estate investment trust's stock after selling 1,597 shares during the period. Gotham Asset Management LLC owned approximately 0.08% of Essex Property Trust worth $16,274,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. AQR Capital Management LLC grew its holdings in Essex Property Trust by 834.0% during the first quarter. AQR Capital Management LLC now owns 62,954 shares of the real estate investment trust's stock worth $19,300,000 after acquiring an additional 56,214 shares during the period. Amundi lifted its holdings in Essex Property Trust by 1.8% in the 1st quarter. Amundi now owns 100,209 shares of the real estate investment trust's stock worth $29,497,000 after purchasing an additional 1,787 shares during the last quarter. Adage Capital Partners GP L.L.C. lifted its holdings in Essex Property Trust by 140.9% in the 1st quarter. Adage Capital Partners GP L.L.C. now owns 84,332 shares of the real estate investment trust's stock worth $25,854,000 after purchasing an additional 49,332 shares during the last quarter. Federation des caisses Desjardins du Quebec lifted its holdings in Essex Property Trust by 227.0% in the 1st quarter. Federation des caisses Desjardins du Quebec now owns 4,123 shares of the real estate investment trust's stock worth $1,264,000 after purchasing an additional 2,862 shares during the last quarter. Finally, Perbak Capital Partners LLP acquired a new stake in Essex Property Trust in the 1st quarter worth approximately $321,000. 96.51% of the stock is owned by institutional investors and hedge funds.

Essex Property Trust Price Performance

NYSE:ESS traded down $5.03 during trading hours on Wednesday, reaching $263.83. The company had a trading volume of 174,238 shares, compared to its average volume of 481,618. The stock has a 50-day moving average of $271.56 and a two-hundred day moving average of $281.19. Essex Property Trust, Inc. has a one year low of $243.85 and a one year high of $317.73. The firm has a market capitalization of $16.99 billion, a PE ratio of 21.21, a PEG ratio of 6.83 and a beta of 0.83. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 1.16.

Essex Property Trust (NYSE:ESS - Get Free Report) last announced its quarterly earnings results on Tuesday, July 29th. The real estate investment trust reported $4.03 earnings per share for the quarter, beating 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 firm had revenue of $465.84 million for the quarter, compared to analysts' expectations of $466.47 million. During the same period in the prior year, the business 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. Analysts forecast that Essex Property Trust, Inc. will post 15.96 earnings per share for the current year.

Essex Property Trust Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th will be paid 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 yield of 3.9%. Essex Property Trust's payout ratio is currently 82.64%.

Analyst Ratings Changes

Several brokerages have commented on ESS. Piper Sandler downgraded Essex Property Trust from an "overweight" rating to a "neutral" rating and dropped their price target for the stock from $355.00 to $275.00 in a research report on Monday, August 4th. Raymond James Financial raised Essex Property Trust from a "market perform" rating to an "outperform" rating and set a $315.00 price target on the stock in a research report on Tuesday, June 24th. Evercore ISI dropped their price target on Essex Property Trust from $285.00 to $279.00 and set an "in-line" rating on the stock in a research report on Tuesday, August 12th. Truist Financial dropped their price target on Essex Property Trust from $295.00 to $283.00 and set a "hold" rating on the stock in a research report on Tuesday, August 12th. Finally, Barclays lowered their price objective on Essex Property Trust from $335.00 to $298.00 and set an "equal weight" rating on the stock in a research report on Tuesday, August 12th. Seven equities research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, Essex Property Trust presently has an average rating of "Hold" and a consensus price target of $300.44.

Essex Property Trust 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.