Swedbank AB Decreases Stake in Essex Property Trust, Inc. $ESS

Key Points

• Swedbank AB cut its stake in Essex Property Trust by 71.1% in the fourth quarter, selling 10,585 shares and leaving it with 4,308 shares valued at about $1.13 million.
• Essex Property Trust missed earnings expectations in its latest quarterly report, posting EPS of $1.65 versus the $3.96 consensus estimate, though revenue came in slightly above forecasts at $484.76 million.
• The company raised its quarterly dividend to $2.59 per share from $2.57, implying an annualized dividend of $10.36 and a yield of 3.9%; analysts currently rate the stock a consensus Hold with a target price of $282.97.

Swedbank AB reduced its position in Essex Property Trust, Inc. (NYSE:ESS - Free Report) by 71.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,308 shares of the real estate investment trust's stock after selling 10,585 shares during the period. Swedbank AB's holdings in Essex Property Trust were worth $1,127,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in ESS. Hantz Financial Services Inc. lifted its position in shares of Essex Property Trust by 57.5% in the third quarter. Hantz Financial Services Inc. now owns 115 shares of the real estate investment trust's stock worth $31,000 after buying an additional 42 shares in the last quarter. True Wealth Design LLC lifted its position in shares of Essex Property Trust by 120.0% in the fourth quarter. True Wealth Design LLC now owns 176 shares of the real estate investment trust's stock worth $46,000 after buying an additional 96 shares in the last quarter. Advisory Services Network LLC purchased a new stake in shares of Essex Property Trust in the third quarter worth about $51,000. MUFG Securities EMEA plc purchased a new stake in shares of Essex Property Trust in the second quarter worth about $54,000. Finally, AlphaQuest LLC lifted its position in shares of Essex Property Trust by 351.6% in the third quarter. AlphaQuest LLC now owns 289 shares of the real estate investment trust's stock worth $77,000 after buying an additional 225 shares in the last quarter. 96.51% of the stock is currently owned by hedge funds and other institutional investors.

Essex Property Trust Trading Up 0.0%

Shares of ESS stock opened at $263.68 on Monday. Essex Property Trust, Inc. has a 1 year low of $238.46 and a 1 year high of $294.09. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.98 and a quick ratio of 0.98. The stock's 50 day simple moving average is $252.41 and its two-hundred day simple moving average is $255.15. The company has a market cap of $16.94 billion, a PE ratio of 29.63, a price-to-earnings-growth ratio of 8.26 and a beta of 0.71.

Essex Property Trust (NYSE:ESS - Get Free Report) last issued its quarterly earnings data on Tuesday, April 28th. The real estate investment trust reported $1.65 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $3.96 by ($2.31). Essex Property Trust had a net margin of 30.03% and a return on equity of 10.00%. The company had revenue of $484.76 million for the quarter, compared to analysts' expectations of $479.89 million. During the same quarter last year, the company earned $3.97 earnings per share. Essex Property Trust has set its Q2 2026 guidance at 3.920-4.040 EPS. Research analysts predict that Essex Property Trust, Inc. will post 16.03 earnings per share for the current year.

Essex Property Trust Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st were issued a $2.59 dividend. The ex-dividend date was Tuesday, March 31st. This is a positive change from Essex Property Trust's previous quarterly dividend of $2.57. This represents a $10.36 annualized dividend and a dividend yield of 3.9%. Essex Property Trust's dividend payout ratio (DPR) is currently 116.40%.

Wall Street Analysts Forecast Growth

ESS has been the topic of a number of research analyst reports. Robert W. Baird boosted their target price on Essex Property Trust from $279.00 to $281.00 and gave the stock a "neutral" rating in a research report on Monday, March 2nd. Wells Fargo & Company decreased their price objective on Essex Property Trust from $268.00 to $262.00 and set an "equal weight" rating on the stock in a research report on Thursday, April 23rd. Raymond James Financial restated a "market perform" rating on shares of Essex Property Trust in a research report on Friday, February 27th. Piper Sandler upgraded Essex Property Trust from a "neutral" rating to an "overweight" rating and upped their price objective for the company from $275.00 to $310.00 in a research report on Monday, May 4th. Finally, Stifel Nicolaus upped their price objective on Essex Property Trust from $278.00 to $281.50 and gave the company a "hold" rating in a research report on Wednesday, April 29th. Five investment analysts have rated the stock with a Buy rating and thirteen have given a Hold rating to the company's stock. Based on data from MarketBeat, Essex Property Trust has a consensus rating of "Hold" and a consensus target price of $282.97.

Essex Property Trust Profile

Essex Property Trust, Inc NYSE: ESS is a publicly traded real estate investment trust that acquires, develops, owns and operates multifamily residential properties. The company focuses on market-rate apartment communities and delivers a full suite of property services including leasing, resident services, asset management, and capital improvement programs designed to preserve and enhance long‑term property values.

Essex concentrates its portfolio in West Coast markets, with a significant presence in California and the Pacific Northwest.

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