KLP Kapitalforvaltning AS Acquires 400 Shares of Essex Property Trust, Inc. $ESS

KLP Kapitalforvaltning AS grew its holdings in Essex Property Trust, Inc. (NYSE:ESS) by 1.7% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 24,211 shares of the real estate investment trust’s stock after purchasing an additional 400 shares during the period. KLP Kapitalforvaltning AS’s holdings in Essex Property Trust were worth $6,914,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. QRG Capital Management Inc. bought a new stake in shares of Essex Property Trust in the 1st quarter worth $653,000. CWA Asset Management Group LLC increased its holdings in shares of Essex Property Trust by 10.0% in the 1st quarter. CWA Asset Management Group LLC now owns 883 shares of the real estate investment trust’s stock worth $271,000 after purchasing an additional 80 shares in the last quarter. Intact Investment Management Inc. bought a new stake in shares of Essex Property Trust in the 1st quarter worth $705,000. Asset Management One Co. Ltd. grew its holdings in shares of Essex Property Trust by 1.2% in the first quarter. Asset Management One Co. Ltd. now owns 133,886 shares of the real estate investment trust’s stock worth $41,045,000 after acquiring an additional 1,569 shares during the period. Finally, Wealth Enhancement Advisory Services LLC grew its holdings in shares of Essex Property Trust by 15.1% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 10,092 shares of the real estate investment trust’s stock worth $3,094,000 after acquiring an additional 1,321 shares during the period. Institutional investors own 96.51% of the company’s stock.

Wall Street Analysts Forecast Growth

ESS has been the subject of several research analyst reports. Morgan Stanley cut their price objective on 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. Stifel Nicolaus lifted their price objective on Essex Property Trust from $301.50 to $305.50 and gave the stock a “hold” rating in a report on Wednesday, July 30th. Barclays cut their price objective on Essex Property Trust from $298.00 to $297.00 and set an “equal weight” rating for the company in a report on Tuesday, September 30th. Wall Street Zen raised Essex Property Trust from a “sell” rating to a “hold” rating in a report on Saturday, October 4th. Finally, BNP Paribas Exane lowered Essex Property Trust from an “outperform” rating to a “neutral” rating in a report on Monday, September 29th. Seven research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $297.28.

Essex Property Trust Price Performance

NYSE ESS opened at $259.12 on Friday. The company has a market capitalization of $16.69 billion, a PE ratio of 20.83, a price-to-earnings-growth ratio of 6.37 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. The business’s fifty day moving average is $263.22 and its 200 day moving average is $275.88. Essex Property Trust, Inc. has a fifty-two week low of $243.85 and a fifty-two week high of $316.29.

Essex Property Trust (NYSE:ESS) last released its earnings results on Tuesday, July 29th. The real estate investment trust reported $4.03 earnings per share for the quarter, beating the consensus estimate of $3.99 by $0.04. The company had revenue of $465.84 million for 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 period in the previous year, the business earned $3.94 earnings per share. Essex Property Trust has set its Q3 2025 guidance at 3.890-3.990 EPS. FY 2025 guidance at 15.800-16.020 EPS. Sell-side analysts predict that Essex Property Trust, Inc. will post 15.96 earnings per share for the current year.

Essex Property Trust Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th will be given a $2.57 dividend. This represents a $10.28 annualized dividend and a dividend yield of 4.0%. The ex-dividend date is 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.