Essex Property Trust, Inc. $ESS Shares Sold by NFJ Investment Group LLC

Key Points

• NFJ Investment Group LLC reduced its stake in Essex Property Trust, Inc. by 14.9%, selling 3,554 shares and ending the quarter with holdings valued at approximately $6.2 million.
• Essex Property Trust recently declared a quarterly dividend of $2.57 per share, which represents an annualized yield of 3.8%, with the payment scheduled for October 15th.
• Analysts have lowered their price targets for Essex Property Trust, with a consensus rating of "Hold" and an average price target of $300.44 following recent assessments.

NFJ Investment Group LLC cut its position in shares of Essex Property Trust, Inc. (NYSE:ESS - Free Report) by 14.9% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 20,311 shares of the real estate investment trust's stock after selling 3,554 shares during the period. NFJ Investment Group LLC's holdings in Essex Property Trust were worth $6,227,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. WPG Advisers LLC acquired a new position in Essex Property Trust during the 1st quarter valued at about $31,000. Zions Bancorporation National Association UT acquired a new position in Essex Property Trust during the 1st quarter valued at about $34,000. GKV Capital Management Co. Inc. acquired a new position in Essex Property Trust during the 1st quarter valued at about $35,000. Capital Analysts LLC increased its position in Essex Property Trust by 56.3% during the 1st quarter. Capital Analysts LLC now owns 136 shares of the real estate investment trust's stock valued at $42,000 after buying an additional 49 shares in the last quarter. Finally, Brooklyn Investment Group increased its position in Essex Property Trust by 34.8% during the 1st quarter. Brooklyn Investment Group now owns 190 shares of the real estate investment trust's stock valued at $58,000 after buying an additional 49 shares in the last quarter. 96.51% of the stock is currently owned by hedge funds and other institutional investors.

Essex Property Trust Price Performance

Shares of ESS traded up $3.53 during mid-day trading on Thursday, reaching $267.17. The stock had a trading volume of 68,576 shares, compared to its average volume of 479,978. The firm has a market cap of $17.21 billion, a price-to-earnings ratio of 21.47, a PEG ratio of 6.91 and a beta of 0.83. Essex Property Trust, Inc. has a 12 month low of $243.85 and a 12 month high of $317.73. The business has a fifty day moving average of $271.17 and a 200 day moving average of $281.07. 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 released its earnings results on Tuesday, July 29th. The real estate investment trust reported $4.03 EPS for the quarter, topping the consensus estimate of $3.99 by $0.04. The firm had revenue of $465.84 million for the quarter, compared to the consensus estimate of $466.47 million. Essex Property Trust had a net margin of 43.51% and a return on equity of 13.98%. During the same quarter in the previous 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. Equities analysts predict that Essex Property Trust, Inc. will post 15.96 EPS for the current year.

Essex Property Trust Announces Dividend

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. This represents a $10.28 annualized dividend and a yield of 3.8%. The ex-dividend date of this dividend is Tuesday, September 30th. Essex Property Trust's dividend payout ratio (DPR) is currently 82.64%.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on ESS shares. Raymond James Financial upgraded Essex Property Trust from a "market perform" rating to an "outperform" rating and set a $315.00 target price on the stock in a research note on Tuesday, June 24th. Stifel Nicolaus raised their price target 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. Wall Street Zen upgraded Essex Property Trust from a "sell" rating to a "hold" rating in a research note on Saturday, August 2nd. Truist Financial lowered their price target on Essex Property Trust from $295.00 to $283.00 and set a "hold" rating on the stock in a report on Tuesday, August 12th. Finally, 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 research report on Friday, May 23rd. Six equities 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 company's stock. According to MarketBeat, the company has an average rating of "Hold" and an average price target of $298.41.

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.