73,718 Shares in Essex Property Trust, Inc. $ESS Bought by Strs Ohio

Key Points

• Strs Ohio has invested approximately $22.6 million in Essex Property Trust, Inc., acquiring 73,718 shares during the first quarter, representing about 0.11% of the company's total stock.
• Essex Property Trust recently reported a Q2 earnings per share of $4.03, slightly exceeding analysts' estimates, with revenue of $465.84 million, just below the consensus of $466.47 million.
• The company announced a quarterly dividend of $2.57 per share, with an annualized yield of 3.8%, payable on October 15th to stockholders of record on September 30th.

Strs Ohio purchased a new stake in shares of Essex Property Trust, Inc. (NYSE:ESS - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 73,718 shares of the real estate investment trust's stock, valued at approximately $22,600,000. Strs Ohio owned about 0.11% of Essex Property Trust at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. WPG Advisers LLC bought a new stake in shares of Essex Property Trust during the first quarter valued at approximately $31,000. Ransom Advisory Ltd bought a new stake in shares of Essex Property Trust during the first quarter valued at approximately $31,000. Zions Bancorporation National Association UT bought a new stake in shares of Essex Property Trust during the first quarter valued at approximately $34,000. GKV Capital Management Co. Inc. bought a new stake in shares of Essex Property Trust during the first quarter valued at approximately $35,000. Finally, Capital Analysts LLC raised its holdings 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 valued at $42,000 after buying an additional 49 shares during the last quarter. Institutional investors own 96.51% of the company's stock.

Essex Property Trust Trading Up 0.6%

NYSE ESS traded up $1.52 on Thursday, hitting $267.75. 123,912 shares of the stock were exchanged, compared to its average volume of 478,999. Essex Property Trust, Inc. has a 52-week low of $243.85 and a 52-week high of $316.31. 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 company has a market capitalization of $17.24 billion, a price-to-earnings ratio of 21.53, a P/E/G ratio of 6.82 and a beta of 0.83. The company's 50-day moving average price is $269.36 and its two-hundred day moving average price is $279.80.

Essex Property Trust (NYSE:ESS - Get Free Report) last posted its quarterly earnings data 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. Essex Property Trust had a net margin of 43.51% and a return on equity of 13.98%. The firm had revenue of $465.84 million for the quarter, compared to analysts' expectations of $466.47 million. During the same period in the previous year, the company posted $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. Research analysts predict that Essex Property Trust, Inc. will post 15.96 EPS for the current year.

Essex Property Trust Dividend Announcement

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 issued a dividend of $2.57 per share. This represents a $10.28 annualized dividend and a dividend yield of 3.8%. The ex-dividend date is Tuesday, September 30th. Essex Property Trust's payout ratio is currently 82.64%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. BMO Capital Markets lifted their price target on Essex Property Trust from $315.00 to $317.00 and gave the company an "outperform" rating in a report on Wednesday, May 28th. Wells Fargo & Company dropped their target price on Essex Property Trust from $325.00 to $279.00 and set an "equal weight" rating on the stock in a report on Wednesday, August 27th. Morgan Stanley dropped their target price on Essex Property Trust from $304.00 to $285.00 and set an "equal weight" rating on the stock in a report on Wednesday, August 13th. Evercore ISI boosted their target price on Essex Property Trust from $279.00 to $283.00 and gave the stock an "in-line" rating in a report on Monday. Finally, Wall Street Zen raised Essex Property Trust from a "sell" rating to a "hold" rating in a report on Saturday, August 2nd. Six investment analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $298.66.

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.