Vanguard Personalized Indexing Management LLC Sells 1,053 Shares of Essex Property Trust, Inc. $ESS

Key Points

• Vanguard Personalized Indexing Management LLC has reduced its holdings in Essex Property Trust by 15.9%, selling 1,053 shares and retaining 5,577 shares valued at $1,581,000.
• Institutional investors own 96.51% of Essex Property Trust, with several others, including Concurrent Investment Advisors and Aberdeen Group plc, increasing their positions during the 2nd quarter.
• Essex Property Trust announced a quarterly dividend of $2.57 per share, equating to an annualized yield of 4.0%, with a payout ratio of 82.64%.

Vanguard Personalized Indexing Management LLC cut its holdings in Essex Property Trust, Inc. (NYSE:ESS - Free Report) by 15.9% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,577 shares of the real estate investment trust's stock after selling 1,053 shares during the period. Vanguard Personalized Indexing Management LLC's holdings in Essex Property Trust were worth $1,581,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the business. Concurrent Investment Advisors LLC raised its position in shares of Essex Property Trust by 2.9% in the 2nd quarter. Concurrent Investment Advisors LLC now owns 1,967 shares of the real estate investment trust's stock worth $557,000 after acquiring an additional 56 shares in the last quarter. Richardson Financial Services Inc. increased its position in Essex Property Trust by 300.0% in the 2nd quarter. Richardson Financial Services Inc. now owns 100 shares of the real estate investment trust's stock valued at $28,000 after buying an additional 75 shares in the last quarter. Trust Co. of Toledo NA OH bought a new stake in Essex Property Trust in the 2nd quarter valued at about $44,000. Aberdeen Group plc increased its position in Essex Property Trust by 5.1% in the 2nd quarter. Aberdeen Group plc now owns 202,798 shares of the real estate investment trust's stock valued at $56,333,000 after buying an additional 9,857 shares in the last quarter. Finally, Wealthstar Advisors LLC increased its position in Essex Property Trust by 6.8% in the 2nd quarter. Wealthstar Advisors LLC now owns 5,185 shares of the real estate investment trust's stock valued at $1,470,000 after buying an additional 330 shares in the last quarter. 96.51% of the stock is owned by institutional investors.

Analysts Set New Price Targets

ESS has been the subject of a number of research analyst reports. Barclays decreased their target price on Essex Property Trust from $298.00 to $297.00 and set an "equal weight" rating for the company in a research report on Tuesday, September 30th. Stifel Nicolaus boosted their target price on Essex Property Trust from $301.50 to $305.50 and gave the company a "hold" rating in a research report on Wednesday, July 30th. Scotiabank decreased their target price 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. Piper Sandler lowered Essex Property Trust from an "overweight" rating to a "neutral" rating and decreased their target price for the company from $355.00 to $275.00 in a research report on Monday, August 4th. Finally, Truist Financial decreased their target price on Essex Property Trust from $295.00 to $283.00 and set a "hold" rating for the company in a research report on Tuesday, August 12th. Seven analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $297.09.

Essex Property Trust Price Performance

ESS stock opened at $259.69 on Friday. The company has a market capitalization of $16.72 billion, a P/E ratio of 20.88, a price-to-earnings-growth ratio of 6.26 and a beta of 0.81. The company has a debt-to-equity ratio of 1.16, a quick ratio of 1.09 and a current ratio of 1.09. Essex Property Trust, Inc. has a 52-week low of $243.85 and a 52-week high of $316.29. The business has a 50-day simple moving average of $263.46 and a two-hundred day simple moving average of $273.91.

Essex Property Trust (NYSE:ESS - Get Free Report) last released its quarterly earnings results on Tuesday, July 29th. The real estate investment trust reported $4.03 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.99 by $0.04. The business had revenue of $465.84 million during the quarter, compared to the consensus estimate 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 quarter in the previous year, the business 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. Research analysts expect that Essex Property Trust, Inc. will post 15.96 EPS for the current fiscal year.

Essex Property Trust Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th were paid a $2.57 dividend. This represents a $10.28 dividend on an annualized basis and a dividend yield of 4.0%. The ex-dividend date was Tuesday, September 30th. Essex Property Trust's 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.

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