Essex Property Trust, Inc. $ESS Shares Sold by Pensionfund DSM Netherlands

Key Points

• Pensionfund DSM Netherlands reduced its holdings in Essex Property Trust by 13.4%, selling 1,500 shares and now holding a total of 9,695 shares, valued at approximately $2.97 million.
• The company reported earnings of $4.03 per share for the last quarter, exceeding estimates, and has a dividend yield of 3.8%, with a quarterly dividend of $2.57 set to be paid on October 15th.
• Essex Property Trust's stock currently has a consensus rating of "Hold" from analysts, with target price revisions reflecting a range of $275.00 to $314.00.

Pensionfund DSM Netherlands lowered its stake in shares of Essex Property Trust, Inc. (NYSE:ESS - Free Report) by 13.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 9,695 shares of the real estate investment trust's stock after selling 1,500 shares during the period. Essex Property Trust accounts for about 2.0% of Pensionfund DSM Netherlands' investment portfolio, making the stock its 14th biggest holding. Pensionfund DSM Netherlands' holdings in Essex Property Trust were worth $2,972,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in shares of Essex Property Trust by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 10,440,274 shares of the real estate investment trust's stock valued at $3,200,675,000 after purchasing an additional 87,117 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of Essex Property Trust by 66.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,746,242 shares of the real estate investment trust's stock valued at $841,916,000 after purchasing an additional 1,096,619 shares during the last quarter. Wealthquest Corp purchased a new stake in shares of Essex Property Trust during the 1st quarter valued at $384,606,000. Northern Trust Corp lifted its holdings in shares of Essex Property Trust by 10.6% during the 1st quarter. Northern Trust Corp now owns 1,247,133 shares of the real estate investment trust's stock valued at $382,334,000 after purchasing an additional 119,303 shares during the last quarter. Finally, Ameriprise Financial Inc. lifted its holdings in shares of Essex Property Trust by 6.6% during the 1st quarter. Ameriprise Financial Inc. now owns 854,606 shares of the real estate investment trust's stock valued at $261,205,000 after purchasing an additional 52,793 shares during the last quarter. Hedge funds and other institutional investors own 96.51% of the company's stock.

Wall Street Analyst Weigh In

ESS has been the subject of several analyst reports. Wall Street Zen upgraded Essex Property Trust from a "sell" rating to a "hold" rating in a report on Saturday, August 2nd. Royal Bank Of Canada increased their price objective on Essex Property Trust from $306.00 to $307.00 and gave the company an "outperform" rating in a report on Thursday, July 31st. Piper Sandler lowered Essex Property Trust from an "overweight" rating to a "neutral" rating and decreased their price objective for the company from $355.00 to $275.00 in a report on Monday, August 4th. UBS Group decreased their price objective on Essex Property Trust from $297.00 to $295.00 and set a "neutral" rating for the company in a report on Tuesday, July 15th. Finally, Barclays cut their target price 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. Six investment analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $298.66.

Essex Property Trust Stock Performance

ESS traded up $1.73 during midday trading on Thursday, hitting $267.96. 128,824 shares of the company were exchanged, compared to its average volume of 479,061. The company's 50 day simple moving average is $269.36 and its 200 day simple moving average is $279.80. The firm has a market capitalization of $17.26 billion, a price-to-earnings ratio of 21.51, a price-to-earnings-growth ratio of 6.82 and a beta of 0.83. 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 1-year low of $243.85 and a 1-year high of $316.31.

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, topping the consensus estimate of $3.99 by $0.04. The company had revenue of $465.84 million for the quarter, compared to the consensus estimate 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 period 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, sell-side 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 dividend of $2.57 per share. 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%.

About Essex Property Trust

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.