ORG Wealth Partners LLC Reduces Stock Position in Essex Property Trust, Inc. $ESS

Key Points

• ORG Wealth Partners LLC has reduced its stake in Essex Property Trust, Inc. (NYSE:ESS) by 56.6% in the second quarter, leaving it with 885 shares valued at $252,000.
• Essex Property Trust recently declared a quarterly dividend of $2.57 per share, with a yield of 3.8%, to be paid on October 15th.
• Brokerages have mixed sentiments about Essex Property Trust, with target prices ranging from $275.00 to $315.00, and a consensus rating of "Hold".

ORG Wealth Partners LLC trimmed its stake in Essex Property Trust, Inc. (NYSE:ESS - Free Report) by 56.6% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 885 shares of the real estate investment trust's stock after selling 1,152 shares during the period. ORG Wealth Partners LLC's holdings in Essex Property Trust were worth $252,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also modified their holdings of the business. WPG Advisers LLC acquired a new position in Essex Property Trust in the 1st quarter valued at $31,000. Ransom Advisory Ltd purchased 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 shares of Essex Property Trust during the first quarter worth approximately $34,000. GKV Capital Management Co. Inc. bought a new stake in shares of Essex Property Trust during the first quarter worth $35,000. Finally, Capital Analysts LLC raised its position in shares of Essex Property Trust by 56.3% during the first quarter. Capital Analysts LLC now owns 136 shares of the real estate investment trust's stock worth $42,000 after purchasing an additional 49 shares during the period. 96.51% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on ESS. Evercore ISI upped their target price on Essex Property Trust from $279.00 to $283.00 and gave the company an "in-line" rating in a research report on Monday, September 15th. Royal Bank Of Canada boosted their price objective on shares of Essex Property Trust from $306.00 to $307.00 and gave the company an "outperform" rating in a report on Thursday, July 31st. Stifel Nicolaus upped their price objective on shares of Essex Property Trust from $301.50 to $305.50 and gave the stock a "hold" rating in a report on Wednesday, July 30th. Raymond James Financial raised shares of Essex Property Trust from a "market perform" rating to an "outperform" rating and set a $315.00 target price on the stock in a report on Tuesday, June 24th. Finally, Piper Sandler lowered shares of Essex Property Trust from an "overweight" rating to a "neutral" rating and dropped their price objective for the stock from $355.00 to $275.00 in a research report on Monday, August 4th. Six analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $297.17.

Essex Property Trust Price Performance

ESS opened at $267.78 on Friday. Essex Property Trust, Inc. has a 1 year low of $243.85 and a 1 year high of $316.29. The stock's 50 day simple moving average is $266.71 and its 200 day simple moving average is $277.91. The company has a debt-to-equity ratio of 1.16, a current ratio of 1.09 and a quick ratio of 1.09. The firm has a market cap of $17.24 billion, a price-to-earnings ratio of 21.53, a PEG ratio of 6.88 and a beta of 0.83.

Essex Property Trust (NYSE:ESS - Get Free Report) last announced its earnings results on Tuesday, July 29th. The real estate investment trust reported $4.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.99 by $0.04. The business had revenue of $465.84 million for the quarter, compared to analysts' expectations of $466.47 million. Essex Property Trust had a return on equity of 13.98% and a net margin of 43.51%.During the same quarter last year, the firm earned $3.94 EPS. Essex Property Trust has set its Q3 2025 guidance at 3.890-3.990 EPS. FY 2025 guidance at 15.800-16.020 EPS. As a group, analysts predict that Essex Property Trust, Inc. will post 15.96 earnings per share 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. Shareholders of record on Tuesday, September 30th will be given a $2.57 dividend. This represents a $10.28 annualized dividend and a yield of 3.8%. The ex-dividend date is Tuesday, September 30th. Essex Property Trust's dividend payout ratio (DPR) is currently 82.64%.

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.

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