Nykredit A S Takes Position in Essex Property Trust, Inc. $ESS

Key Points

• Nykredit A/S acquired 23,533 shares of Essex Property Trust in the second quarter, valued at approximately $6.86 million. Institutional investors collectively own 96.51% of the REIT, with several other major firms also initiating or increasing positions.
• Analyst sentiment is mixed, with a consensus “Hold” rating and an average price target of $303.04. Recent targets range from $286 to $295, while ratings span from Sell to Strong Buy.
• Essex reported quarterly EPS of $4.08, well above the $1.46 consensus estimate, and revenue of $489.05 million. The company declared a quarterly dividend of $2.59 per share, equivalent to an annualized $10.36 payout and a 3.8% yield.

Nykredit A S bought a new position in shares of Essex Property Trust, Inc. (NYSE:ESS - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 23,533 shares of the real estate investment trust's stock, valued at approximately $6,862,000.

A number of other large investors have also recently made changes to their positions in the stock. The Manufacturers Life Insurance Company purchased a new position in shares of Essex Property Trust during the 2nd quarter valued at $11,451,000. Bank of America Corp DE purchased a new stake in shares of Essex Property Trust in the second quarter worth $80,281,000. Jefferies Financial Group Inc. purchased a new stake in shares of Essex Property Trust in the second quarter worth $2,889,000. Nomura Asset Management Co. Ltd. raised its position in shares of Essex Property Trust by 2.6% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 255,533 shares of the real estate investment trust's stock worth $66,868,000 after buying an additional 6,422 shares in the last quarter. Finally, Norges Bank bought a new stake in Essex Property Trust during the fourth quarter valued at $230,690,000. 96.51% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. Mizuho restated a "neutral" rating and set a $295.00 target price (down from $308.00) on shares of Essex Property Trust in a research report on Tuesday, September 8th. JPMorgan Chase & Co. boosted their price objective on Essex Property Trust from $275.00 to $295.00 and gave the stock an "underweight" rating in a report on Friday, August 14th. Wall Street Zen lowered shares of Essex Property Trust from a "hold" rating to a "sell" rating in a research report on Saturday, August 1st. UBS Group reissued a "neutral" rating and issued a $286.00 price target (up from $278.00) on shares of Essex Property Trust in a research note on Tuesday, September 15th. Finally, Jefferies Financial Group raised shares of Essex Property Trust to a "strong-buy" rating in a report on Wednesday, July 22nd. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $303.04.

Essex Property Trust Trading Up 0.3%

NYSE ESS opened at $270.82 on Tuesday. Essex Property Trust, Inc. has a 1-year low of $238.46 and a 1-year high of $303.35. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 1.22. The stock has a 50-day moving average of $284.61 and a 200-day moving average of $273.17. The firm has a market cap of $17.41 billion, a PE ratio of 42.12, a price-to-earnings-growth ratio of 9.88 and a beta of 0.69.

Essex Property Trust (NYSE:ESS - Get Free Report) last posted its earnings results on Wednesday, July 29th. The real estate investment trust reported $4.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.46 by $2.62. Essex Property Trust had a return on equity of 7.33% and a net margin of 21.48%.The company had revenue of $489.05 million for the quarter, compared to analysts' expectations of $485.12 million. During the same period last year, the firm earned $4.03 earnings per share. Essex Property Trust has set its Q3 2026 guidance at 3.930-4.050 EPS and its FY 2026 guidance at 16.030-16.250 EPS. As a group, sell-side analysts forecast that Essex Property Trust, Inc. will post 16.18 EPS for the current year.

Essex Property Trust Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th will be issued a dividend of $2.59 per share. The ex-dividend date is Wednesday, September 30th. This represents a $10.36 dividend on an annualized basis and a dividend yield of 3.8%. Essex Property Trust's dividend payout ratio is presently 161.12%.

Essex Property Trust Profile

Essex Property Trust, Inc is a self-administered and self-managed real estate investment trust that owns, operates, develops and redevelops multifamily residential communities. Its portfolio primarily consists of apartment homes, supported by property management, maintenance and resident services.

The company focuses on high-demand coastal markets on the West Coast, particularly Northern and Southern California and the Seattle metropolitan area in Washington. Essex's properties are generally located near employment centers, transportation networks and other amenities, serving renters in major urban and suburban communities.

Founded in 1971, Essex Property Trust became a publicly traded real estate investment trust in 1994.

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