Sequoia Financial Advisors LLC Buys 1,231 Shares of Essex Property Trust, Inc. $ESS

Key Points

• Sequoia Financial Advisors LLC increased its stake in Essex Property Trust by 158.2%, acquiring an additional 1,231 shares during the second quarter, bringing their total holdings to 2,009 shares valued at $569,000.
• Recent institutional trading activity shows significant increases, with Valeo Financial Advisors LLC raising their position by 151,452.8% and Vanguard Group Inc. owning over $3.2 billion worth of shares in Essex Property Trust.
• Analysts have varied perspectives on the stock, with target prices ranging from $275.00 to $315.00, while the stock currently holds an average rating of "Hold" with a consensus target price of $297.09.

Sequoia Financial Advisors LLC boosted its stake in shares of Essex Property Trust, Inc. (NYSE:ESS - Free Report) by 158.2% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,009 shares of the real estate investment trust's stock after buying an additional 1,231 shares during the quarter. Sequoia Financial Advisors LLC's holdings in Essex Property Trust were worth $569,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ESS. Vanguard Group Inc. increased its position in 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 period. Valeo Financial Advisors LLC increased its position in Essex Property Trust by 151,452.8% during the 2nd quarter. Valeo Financial Advisors LLC now owns 2,978,012 shares of the real estate investment trust's stock valued at $843,969,000 after purchasing an additional 2,976,047 shares during the period. Price T Rowe Associates Inc. MD increased its position in 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 period. Wealthquest Corp purchased a new position in Essex Property Trust during the 1st quarter valued at about $384,606,000. Finally, Northern Trust Corp increased its position in 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 period. Institutional investors own 96.51% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on ESS shares. Barclays cut their target price on shares of Essex Property Trust from $298.00 to $297.00 and set an "equal weight" rating on the stock in a research report on Tuesday, September 30th. Cantor Fitzgerald started coverage on shares of Essex Property Trust in a research report on Wednesday, October 1st. They set an "overweight" rating and a $300.00 target price on the stock. 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 research report on Tuesday, June 24th. Piper Sandler downgraded shares of Essex Property Trust from an "overweight" rating to a "neutral" rating and cut their price objective for the stock from $355.00 to $275.00 in a research report on Monday, August 4th. Finally, Wells Fargo & Company lifted their price objective on shares of Essex Property Trust from $279.00 to $280.00 and gave the stock an "equal weight" rating in a research report on Monday, October 13th. Seven analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $297.09.

Essex Property Trust Stock Up 0.8%

Shares of Essex Property Trust stock opened at $259.69 on Monday. The firm's 50 day moving average price is $263.46 and its 200-day moving average price is $273.54. 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, Inc. has a 52-week low of $243.85 and a 52-week high of $316.29. The company has a market cap of $16.72 billion, a P/E ratio of 20.88, a PEG ratio of 6.31 and a beta of 0.81.

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 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 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 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. On average, sell-side analysts predict that Essex Property Trust, Inc. will post 15.96 EPS for the current fiscal year.

Essex Property Trust Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th were given a dividend of $2.57 per share. This represents a $10.28 annualized dividend and a yield of 4.0%. The ex-dividend date of this dividend was Tuesday, September 30th. Essex Property Trust's payout ratio is currently 82.64%.

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.

Want to see what other hedge funds are holding ESS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Essex Property Trust, Inc. (NYSE:ESS - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.