Perbak Capital Partners LLP Takes Position in Essex Property Trust, Inc. $ESS

Key Points

• Perbak Capital Partners LLP has invested approximately $321,000 in Essex Property Trust by purchasing 1,047 shares in the first quarter.
• Institutional investors hold 96.51% of Essex Property Trust's stock, indicating significant institutional interest.
• Analysts have downgraded Essex Property Trust's price targets, with the average target price now at $301.42, reflecting a cautious outlook on the stock.

Perbak Capital Partners LLP purchased a new stake in shares of Essex Property Trust, Inc. (NYSE:ESS - Free Report) during the 1st quarter, according to the company in its most recent filing with the SEC. The fund purchased 1,047 shares of the real estate investment trust's stock, valued at approximately $321,000.

Several other institutional investors and hedge funds have also modified their holdings of ESS. WPG Advisers LLC acquired a new position in shares of Essex Property Trust in the 1st quarter valued at about $31,000. Zions Bancorporation National Association UT acquired a new position in shares of Essex Property Trust in the 1st quarter valued at about $34,000. GKV Capital Management Co. Inc. acquired a new position in shares of Essex Property Trust in the 1st quarter valued at about $35,000. Capital Analysts LLC lifted its holdings 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 buying an additional 49 shares during the period. Finally, Brooklyn Investment Group lifted its holdings 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 buying an additional 49 shares during the period. Institutional investors and hedge funds own 96.51% of the company's stock.

Essex Property Trust Price Performance

Shares of Essex Property Trust stock traded up $3.59 during mid-day trading on Friday, reaching $268.09. 418,315 shares of the stock traded hands, compared to its average volume of 389,105. The business has a 50-day moving average of $272.24 and a 200 day moving average of $281.57. Essex Property Trust, Inc. has a fifty-two week low of $243.85 and a fifty-two week high of $317.73. The stock has a market capitalization of $17.27 billion, a PE ratio of 21.55, a PEG ratio of 6.89 and a beta of 0.83. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 1.16.

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 EPS for the quarter, beating analysts' consensus estimates of $3.99 by $0.04. Essex Property Trust had a return on equity of 13.98% and a net margin of 43.51%.The business had revenue of $465.84 million during the quarter, compared to analysts' expectations of $466.47 million. During the same quarter in the prior 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. On average, 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. Stockholders of record on Tuesday, September 30th will be given a $2.57 dividend. The ex-dividend date is Tuesday, September 30th. This represents a $10.28 dividend on an annualized basis and a dividend yield of 3.8%. Essex Property Trust's dividend payout ratio is 82.64%.

Analyst Ratings Changes

ESS has been the subject of several analyst reports. Scotiabank decreased their price objective on Essex Property Trust from $320.00 to $309.00 and set a "sector outperform" rating for the company in a report on Tuesday, August 5th. Piper Sandler cut 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. Royal Bank Of Canada boosted 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. Truist Financial reduced their price target on Essex Property Trust from $295.00 to $283.00 and set a "hold" rating for the company in a report on Tuesday, August 12th. Finally, Stifel Nicolaus upped their price target on Essex Property Trust from $301.50 to $305.50 and gave the stock a "hold" rating in a report on Wednesday, July 30th. Seven research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $300.44.

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.