AlphaStar Capital Management LLC Takes $295,000 Position in Essex Property Trust, Inc. $ESS

AlphaStar Capital Management LLC purchased a new position in shares of Essex Property Trust, Inc. (NYSE:ESS) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,040 shares of the real estate investment trust’s stock, valued at approximately $295,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Richardson Financial Services Inc. boosted its holdings in Essex Property Trust by 300.0% during the second quarter. Richardson Financial Services Inc. now owns 100 shares of the real estate investment trust’s stock worth $28,000 after buying an additional 75 shares in the last quarter. WPG Advisers LLC purchased a new stake in Essex Property Trust during the first quarter worth $31,000. Ransom Advisory Ltd purchased a new stake in Essex Property Trust during the first quarter worth $31,000. Zions Bancorporation National Association UT purchased a new stake in Essex Property Trust during the first quarter worth $34,000. Finally, Princeton Global Asset Management LLC purchased a new stake in Essex Property Trust during the second quarter worth $34,000. 96.51% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the stock. UBS Group lowered their price target on shares of Essex Property Trust from $297.00 to $295.00 and set a “neutral” rating on the stock in a report on Tuesday, July 15th. BNP Paribas downgraded shares of Essex Property Trust from an “outperform” rating to a “hold” rating in a report on Monday, September 29th. Wall Street Zen downgraded shares of Essex Property Trust from a “hold” rating to a “sell” rating in a report on Saturday, October 25th. Cantor Fitzgerald began coverage on shares of Essex Property Trust in a report on Wednesday, October 1st. They set an “overweight” rating and a $300.00 price objective on the stock. Finally, Evercore ISI decreased their price objective on shares of Essex Property Trust from $283.00 to $279.00 and set an “in-line” rating on the stock in a report on Monday, October 13th. Seven equities research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Essex Property Trust currently has a consensus rating of “Hold” and an average target price of $297.09.

Essex Property Trust Stock Performance

ESS opened at $252.21 on Friday. The firm’s fifty day simple moving average is $263.33 and its two-hundred day simple moving average is $273.00. The company has a market cap of $16.24 billion, a price-to-earnings ratio of 19.16, a PEG ratio of 6.00 and a beta of 0.81. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 1.16. Essex Property Trust, Inc. has a 52-week low of $243.25 and a 52-week high of $316.29.

Essex Property Trust (NYSE:ESS) last issued its earnings results on Wednesday, October 29th. The real estate investment trust reported $3.97 EPS for the quarter, beating analysts’ consensus estimates of $3.96 by $0.01. The business had revenue of $473.30 million during the quarter, compared to analysts’ expectations of $472.11 million. Essex Property Trust had a net margin of 45.46% and a return on equity of 14.70%. During the same period in the prior year, the business earned $3.91 earnings per share. Essex Property Trust has set its Q4 2025 guidance at 3.930-4.030 EPS. FY 2025 guidance at 15.890-15.990 EPS. Equities analysts anticipate that Essex Property Trust, Inc. will post 15.96 earnings per share 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 given a $2.57 dividend. This represents a $10.28 dividend on an annualized basis and a dividend yield of 4.1%. The ex-dividend date was Tuesday, September 30th. Essex Property Trust’s dividend payout ratio is 78.12%.

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.