United Services Automobile Association Invests $464,000 in Essex Property Trust, Inc. $ESS

Key Points

• United Services Automobile Association invested approximately $464,000 in Essex Property Trust, acquiring 1,517 shares during the first quarter.
• Essex Property Trust announced a quarterly dividend of $2.57 per share, with a 3.9% yield, to be paid on October 15th to shareholders of record on September 30th.
• Analysts have reduced their target prices for Essex Property Trust, with Truist Financial and Evercore ISI setting new targets of $283.00 and $279.00 respectively, while maintaining "hold" ratings.

United Services Automobile Association acquired a new position in Essex Property Trust, Inc. (NYSE:ESS - Free Report) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 1,517 shares of the real estate investment trust's stock, valued at approximately $464,000.

Other large investors have also made changes to their positions in the company. WPG Advisers LLC acquired a new stake in Essex Property Trust in the 1st quarter valued at approximately $31,000. Zions Bancorporation National Association UT bought a new stake in shares of Essex Property Trust in the first quarter valued at approximately $34,000. GKV Capital Management Co. Inc. acquired a new stake in shares of Essex Property Trust in the first quarter worth $35,000. Capital Analysts LLC increased its position in 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 worth $42,000 after acquiring an additional 49 shares during the period. Finally, Brooklyn Investment Group increased its position in Essex Property Trust by 34.8% during the first quarter. Brooklyn Investment Group now owns 190 shares of the real estate investment trust's stock worth $58,000 after acquiring 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

ESS traded down $1.58 during midday trading on Friday, reaching $267.23. 259,285 shares of the company's stock were exchanged, compared to its average volume of 369,991. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 1.16. The business has a 50-day simple moving average of $270.54 and a two-hundred day simple moving average of $280.64. The firm has a market capitalization of $17.21 billion, a price-to-earnings ratio of 21.48, a price-to-earnings-growth ratio of 6.91 and a beta of 0.83. Essex Property Trust, Inc. has a one year low of $243.85 and a one year high of $317.73.

Essex Property Trust (NYSE:ESS - Get Free Report) last issued its earnings results on Tuesday, July 29th. The real estate investment trust reported $4.03 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.99 by $0.04. The business had revenue of $465.84 million during the quarter, compared to analysts' expectations of $466.47 million. Essex Property Trust had a return on equity of 13.98% and a net margin of 43.51%.During the same period in the prior year, the firm 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 predict that Essex Property Trust, Inc. will post 15.96 EPS for the current year.

Essex Property Trust Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th will be issued a dividend of $2.57 per share. The ex-dividend date of this dividend 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 (DPR) is presently 82.64%.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. Royal Bank Of Canada increased 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. Raymond James Financial upgraded shares of Essex Property Trust from a "market perform" rating to an "outperform" rating and set a $315.00 target price for the company in a research note on Tuesday, June 24th. Truist Financial decreased their target price on Essex Property Trust from $295.00 to $283.00 and set a "hold" rating on the stock in a research report on Tuesday, August 12th. Piper Sandler lowered Essex Property Trust from an "overweight" rating to a "neutral" rating and lowered their price target for the company from $355.00 to $275.00 in a research note on Monday, August 4th. Finally, Scotiabank reduced their price objective on Essex Property Trust from $320.00 to $309.00 and set a "sector outperform" rating for the company in a research report on Tuesday, August 5th. Six research 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, the company presently has an average rating of "Hold" and a consensus target price of $298.41.

About Essex Property Trust

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.