Handelsbanken Fonder AB Reduces Stock Holdings in Essex Property Trust, Inc. $ESS

Handelsbanken Fonder AB lowered its holdings in shares of Essex Property Trust, Inc. (NYSE:ESS) by 16.6% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 46,501 shares of the real estate investment trust’s stock after selling 9,276 shares during the quarter. Handelsbanken Fonder AB’s holdings in Essex Property Trust were worth $13,178,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Richardson Financial Services Inc. increased 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 valued at $28,000 after buying an additional 75 shares during the last quarter. WPG Advisers LLC bought a new stake in shares of Essex Property Trust during the 1st quarter valued at $31,000. Ransom Advisory Ltd purchased a new stake in shares of Essex Property Trust in the 1st quarter worth $31,000. Zions Bancorporation National Association UT bought a new position in Essex Property Trust in the 1st quarter worth $34,000. Finally, Princeton Global Asset Management LLC purchased a new position in Essex Property Trust during the second quarter valued at $34,000. Institutional investors own 96.51% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. Piper Sandler cut Essex Property Trust from an “overweight” rating to a “neutral” rating and reduced their price target for the stock from $355.00 to $275.00 in a research report on Monday, August 4th. Royal Bank Of Canada boosted their price objective on Essex Property Trust from $306.00 to $307.00 and gave the company an “outperform” rating in a research note on Thursday, July 31st. Morgan Stanley reduced their target price on shares of Essex Property Trust from $304.00 to $285.00 and set an “equal weight” rating for the company in a report on Wednesday, August 13th. Cantor Fitzgerald initiated coverage on shares of Essex Property Trust in a research note on Wednesday, October 1st. They set an “overweight” rating and a $300.00 target price on the stock. Finally, Barclays lowered their price target on shares of Essex Property Trust from $298.00 to $297.00 and set an “equal weight” rating on the stock in a report on Tuesday, September 30th. Seven analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $292.53.

Essex Property Trust Stock Up 2.0%

Shares of ESS opened at $260.87 on Monday. The business’s 50 day moving average is $260.38 and its 200 day moving average is $270.55. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 1.16. Essex Property Trust, Inc. has a 12-month low of $243.25 and a 12-month high of $316.29. The company has a market capitalization of $16.80 billion, a PE ratio of 19.82, a price-to-earnings-growth ratio of 6.00 and a beta of 0.82.

Essex Property Trust (NYSE:ESS) last announced its quarterly earnings data on Wednesday, October 29th. The real estate investment trust reported $3.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.96 by $0.01. Essex Property Trust had a net margin of 45.46% and a return on equity of 14.70%. The business had revenue of $473.30 million during the quarter, compared to analyst estimates of $472.11 million. During the same period last year, the firm posted $3.91 EPS. Essex Property Trust has set its Q4 2025 guidance at 3.930-4.030 EPS. FY 2025 guidance at 15.890-15.990 EPS. Research analysts expect that Essex Property Trust, Inc. will post 15.96 earnings per share for the current fiscal year.

Essex Property Trust Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th were paid a $2.57 dividend. The ex-dividend date was Tuesday, September 30th. This represents a $10.28 annualized dividend and a yield of 3.9%. Essex Property Trust’s payout ratio is presently 78.12%.

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.