ProShare Advisors LLC Cuts Stock Position in Essex Property Trust, Inc. $ESS

ProShare Advisors LLC decreased its holdings in Essex Property Trust, Inc. (NYSE:ESS) by 6.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 588,895 shares of the real estate investment trust’s stock after selling 38,258 shares during the quarter. ProShare Advisors LLC’s holdings in Essex Property Trust were worth $166,893,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. Vanguard Group Inc. raised its stake in Essex Property Trust by 0.8% in the first quarter. Vanguard Group Inc. now owns 10,440,274 shares of the real estate investment trust’s stock valued at $3,200,675,000 after buying an additional 87,117 shares in the last quarter. Korea Investment CORP boosted its position in shares of Essex Property Trust by 26.7% during the 1st quarter. Korea Investment CORP now owns 75,510 shares of the real estate investment trust’s stock worth $23,149,000 after acquiring an additional 15,912 shares in the last quarter. Spirit of America Management Corp NY increased its holdings in shares of Essex Property Trust by 19.9% in the 2nd quarter. Spirit of America Management Corp NY now owns 9,636 shares of the real estate investment trust’s stock valued at $2,731,000 after acquiring an additional 1,600 shares during the last quarter. Spire Wealth Management raised its position in shares of Essex Property Trust by 12,050.0% during the 2nd quarter. Spire Wealth Management now owns 243 shares of the real estate investment trust’s stock worth $69,000 after acquiring an additional 241 shares in the last quarter. Finally, New York State Common Retirement Fund raised its position in shares of Essex Property Trust by 5.9% during the 1st quarter. New York State Common Retirement Fund now owns 45,083 shares of the real estate investment trust’s stock worth $13,821,000 after acquiring an additional 2,500 shares in the last quarter. Institutional investors and hedge funds own 96.51% of the company’s stock.

Analyst Ratings Changes

ESS has been the subject of a number of research analyst reports. Truist Financial lowered their price target on Essex Property Trust from $295.00 to $283.00 and set a “hold” rating for the company in a report on Tuesday, August 12th. Wells Fargo & Company increased their target price on shares of Essex Property Trust from $279.00 to $280.00 and gave the company an “equal weight” rating in a research report on Monday, October 13th. BNP Paribas Exane lowered shares of Essex Property Trust from an “outperform” rating to a “neutral” rating in a research note on Monday, September 29th. Stifel Nicolaus boosted their price target on shares of Essex Property Trust from $301.50 to $305.50 and gave the company a “hold” rating in a research report on Wednesday, July 30th. Finally, BNP Paribas lowered Essex Property Trust from an “outperform” rating to a “hold” rating in a report on Monday, September 29th. Seven equities research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $295.03.

Essex Property Trust Price Performance

Shares of ESS opened at $260.32 on Monday. 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 fifty-two week low of $243.25 and a fifty-two week high of $316.29. The firm has a 50-day simple moving average of $262.33 and a 200-day simple moving average of $272.37. The company has a market capitalization of $16.77 billion, a price-to-earnings ratio of 19.78, a price-to-earnings-growth ratio of 6.00 and a beta of 0.82.

Essex Property Trust (NYSE:ESS) last posted its quarterly earnings data on Wednesday, October 29th. The real estate investment trust reported $3.97 EPS for the quarter, beating the consensus estimate of $3.96 by $0.01. Essex Property Trust had a return on equity of 14.70% and a net margin of 45.46%.The firm had revenue of $473.30 million during the quarter, compared to the consensus estimate of $472.11 million. During the same period in the prior year, the business earned $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. On average, equities research analysts anticipate that Essex Property Trust, Inc. will post 15.96 earnings per share for the current year.

Essex Property Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th were given a $2.57 dividend. This represents a $10.28 dividend on an annualized basis and a yield of 3.9%. The ex-dividend date was Tuesday, September 30th. Essex Property Trust’s dividend payout ratio (DPR) is 78.12%.

Essex Property Trust 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.