UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC Grows Stock Holdings in Essex Property Trust, Inc. $ESS

Key Points

• UBS Asset Management has increased its stake in Essex Property Trust, holding 793,115 shares valued at approximately $243.15 million, representing about 1.23% of the company's equity.
• Institutional investors and hedge funds control 96.51% of Essex Property Trust's stock, indicating significant institutional interest and support for the company.
• Essex Property Trust announced a quarterly dividend of $2.57 per share, resulting in an annualized yield of 3.8%, which is scheduled to be paid on October 15th.

UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in Essex Property Trust, Inc. (NYSE:ESS - Free Report) by 1.9% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 793,115 shares of the real estate investment trust's stock after acquiring an additional 14,601 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC owned approximately 1.23% of Essex Property Trust worth $243,145,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Woodline Partners LP bought a new stake in Essex Property Trust in the 1st quarter valued at $1,664,000. MBB Public Markets I LLC bought a new stake in Essex Property Trust in the 1st quarter valued at $331,000. United Services Automobile Association bought a new stake in Essex Property Trust in the 1st quarter valued at $464,000. UniSuper Management Pty Ltd increased its holdings in Essex Property Trust by 1.2% in the 1st quarter. UniSuper Management Pty Ltd now owns 26,295 shares of the real estate investment trust's stock valued at $8,061,000 after acquiring an additional 300 shares during the last quarter. Finally, Uniplan Investment Counsel Inc. increased its holdings in Essex Property Trust by 17.2% in the 1st quarter. Uniplan Investment Counsel Inc. now owns 55,866 shares of the real estate investment trust's stock valued at $17,127,000 after acquiring an additional 8,205 shares during the last quarter. 96.51% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have issued reports on ESS. Royal Bank Of Canada lifted their price target on shares of 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 cut shares of Essex Property Trust from an "overweight" rating to a "neutral" rating and dropped their price objective for the stock from $355.00 to $275.00 in a research note on Monday, August 4th. Scotiabank dropped their price objective on shares of Essex Property Trust from $320.00 to $309.00 and set a "sector outperform" rating for the company in a research note on Tuesday, August 5th. Truist Financial dropped their price objective on shares of Essex Property Trust from $295.00 to $283.00 and set a "hold" rating for the company in a research note on Tuesday, August 12th. Finally, Raymond James Financial raised shares of Essex Property Trust from a "market perform" rating to an "outperform" rating and set a $315.00 price objective for the company in a research note on Tuesday, June 24th. Six analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, Essex Property Trust presently has a consensus rating of "Hold" and a consensus target price of $298.66.

Essex Property Trust Stock Up 0.7%

Shares of NYSE:ESS traded up $1.90 during trading hours on Wednesday, hitting $267.45. The company's stock had a trading volume of 31,954 shares, compared to its average volume of 479,068. Essex Property Trust, Inc. has a 52 week low of $243.85 and a 52 week high of $316.79. 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 $17.22 billion, a price-to-earnings ratio of 21.50, a P/E/G ratio of 6.80 and a beta of 0.83. The firm's fifty day moving average price is $269.75 and its 200 day moving average price is $279.90.

Essex Property Trust (NYSE:ESS - Get Free Report) last posted its quarterly earnings results on Tuesday, July 29th. The real estate investment trust reported $4.03 EPS for the quarter, beating the consensus estimate of $3.99 by $0.04. The business had revenue of $465.84 million during the quarter, compared to analyst estimates 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 business 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. As a group, research analysts expect 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. Shareholders of record on Tuesday, September 30th will be paid a dividend of $2.57 per share. The ex-dividend date is Tuesday, September 30th. This represents a $10.28 dividend on an annualized basis and a yield of 3.8%. Essex Property Trust's dividend payout ratio is presently 82.64%.

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.