IFM Investors Pty Ltd Sells 1,947 Shares of Essex Property Trust, Inc. $ESS

Key Points

• IFM Investors Pty Ltd reduced its stake in Essex Property Trust, Inc. by 7.6% in Q2, now holding shares worth approximately $6.74 million.
• Essex Property Trust's recent quarterly earnings beat analysts' expectations with an EPS of $4.03 and a revenue of $465.84 million.
• The company declared a quarterly dividend of $2.57, with a dividend yield of 3.8%, to be paid on October 15th.

IFM Investors Pty Ltd lowered its stake in shares of Essex Property Trust, Inc. (NYSE:ESS - Free Report) by 7.6% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 23,778 shares of the real estate investment trust's stock after selling 1,947 shares during the quarter. IFM Investors Pty Ltd's holdings in Essex Property Trust were worth $6,739,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. Stephens Inc. AR boosted its stake in shares of Essex Property Trust by 4.6% in the 1st quarter. Stephens Inc. AR now owns 985 shares of the real estate investment trust's stock valued at $302,000 after purchasing an additional 43 shares during the last quarter. Horizon Investments LLC boosted its stake in shares of Essex Property Trust by 5.0% in the 1st quarter. Horizon Investments LLC now owns 929 shares of the real estate investment trust's stock valued at $285,000 after purchasing an additional 44 shares during the last quarter. Sequoia Financial Advisors LLC boosted its stake in shares of Essex Property Trust by 6.3% in the 1st quarter. Sequoia Financial Advisors LLC now owns 778 shares of the real estate investment trust's stock valued at $239,000 after purchasing an additional 46 shares during the last quarter. Brooklyn Investment Group boosted its stake in shares of Essex Property Trust by 34.8% in the 1st quarter. Brooklyn Investment Group now owns 190 shares of the real estate investment trust's stock valued at $58,000 after purchasing an additional 49 shares during the last quarter. Finally, Capital Analysts LLC boosted its stake in shares of Essex Property Trust by 56.3% in the 1st quarter. Capital Analysts LLC now owns 136 shares of the real estate investment trust's stock valued at $42,000 after purchasing an additional 49 shares during the last quarter. Institutional investors own 96.51% of the company's stock.

Essex Property Trust Stock Up 0.4%

Shares of NYSE ESS traded up $0.95 during midday trading on Tuesday, reaching $267.34. The company's stock had a trading volume of 73,828 shares, compared to its average volume of 479,701. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 1.16. Essex Property Trust, Inc. has a fifty-two week low of $243.85 and a fifty-two week high of $316.29. The stock has a market capitalization of $17.22 billion, a price-to-earnings ratio of 21.51, a PEG ratio of 6.87 and a beta of 0.83. The stock has a 50 day simple moving average of $268.27 and a 200-day simple moving average of $278.62.

Essex Property Trust (NYSE:ESS - Get Free Report) last released its earnings results on Tuesday, July 29th. The real estate investment trust reported $4.03 earnings per share for the quarter, beating the consensus estimate of $3.99 by $0.04. Essex Property Trust had a net margin of 43.51% and a return on equity of 13.98%. The business had revenue of $465.84 million during the quarter, compared to analysts' expectations of $466.47 million. During the same period last year, the business 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. Equities research analysts predict that Essex Property Trust, Inc. will post 15.96 earnings per share for the current year.

Essex Property Trust Announces Dividend

The company also recently announced 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 of this dividend 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 (DPR) is currently 82.64%.

Analyst Ratings Changes

ESS has been the topic of several recent research reports. UBS Group reduced their target price on shares of Essex Property Trust from $297.00 to $295.00 and set a "neutral" rating on the stock in a research note on Tuesday, July 15th. Evercore ISI raised their target price on shares of Essex Property Trust from $279.00 to $283.00 and gave the company an "in-line" rating in a research note on Monday, September 15th. Barclays reduced their target price on shares of Essex Property Trust from $335.00 to $298.00 and set an "equal weight" rating on the stock in a research note on Tuesday, August 12th. Piper Sandler lowered shares of Essex Property Trust from an "overweight" rating to a "neutral" rating and reduced their target price for the company from $355.00 to $275.00 in a research note on Monday, August 4th. Finally, Truist Financial reduced their price objective on shares of Essex Property Trust from $295.00 to $283.00 and set a "hold" rating on the stock in a research note on Tuesday, August 12th. Six 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's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $298.66.

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.