Wealthstar Advisors LLC Grows Stake in Essex Property Trust, Inc. $ESS

Wealthstar Advisors LLC grew its position in shares of Essex Property Trust, Inc. (NYSE:ESS) by 6.8% in the second quarter, Holdings Channel reports. The firm owned 5,185 shares of the real estate investment trust’s stock after purchasing an additional 330 shares during the period. Wealthstar Advisors LLC’s holdings in Essex Property Trust were worth $1,470,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the company. Copperwynd Financial LLC grew its position in shares of Essex Property Trust by 6.7% during the 2nd quarter. Copperwynd Financial LLC now owns 842 shares of the real estate investment trust’s stock valued at $239,000 after purchasing an additional 53 shares in the last quarter. Optas LLC bought a new stake in shares of Essex Property Trust during the 2nd quarter worth $454,000. KLP Kapitalforvaltning AS lifted its holdings in shares of Essex Property Trust by 1.7% during the 2nd quarter. KLP Kapitalforvaltning AS now owns 24,211 shares of the real estate investment trust’s stock worth $6,914,000 after acquiring an additional 400 shares during the last quarter. SteelPeak Wealth LLC bought a new stake in shares of Essex Property Trust during the 2nd quarter worth $2,232,000. Finally, Valeo Financial Advisors LLC lifted its holdings in shares of Essex Property Trust by 151,452.8% during the 2nd quarter. Valeo Financial Advisors LLC now owns 2,978,012 shares of the real estate investment trust’s stock worth $843,969,000 after acquiring an additional 2,976,047 shares during the last quarter. 96.51% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have recently issued reports on ESS shares. Wall Street Zen raised shares of Essex Property Trust from a “sell” rating to a “hold” rating in a report on Saturday, October 4th. Scotiabank dropped their price objective on shares of Essex Property Trust from $320.00 to $309.00 and set a “sector outperform” rating for the company in a report on Tuesday, August 5th. Evercore ISI lifted their price objective on shares of Essex Property Trust from $279.00 to $283.00 and gave the stock an “in-line” rating in a report on Monday, September 15th. Truist Financial dropped their price objective on shares of Essex Property Trust from $295.00 to $283.00 and set a “hold” rating for the company in a report on Tuesday, August 12th. Finally, Wells Fargo & Company dropped their price objective on shares of Essex Property Trust from $325.00 to $279.00 and set an “equal weight” rating for the company in a report on Wednesday, August 27th. Seven analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $297.28.

Essex Property Trust Stock Performance

Shares of NYSE:ESS opened at $259.12 on Friday. The company has a market cap of $16.69 billion, a price-to-earnings ratio of 20.83, a price-to-earnings-growth ratio of 6.37 and a beta of 0.81. The company has a 50-day moving average price of $263.22 and a 200-day moving average price of $275.88. 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 $243.85 and a 12 month high of $316.29.

Essex Property Trust (NYSE:ESS) last issued its quarterly earnings data on Tuesday, July 29th. The real estate investment trust reported $4.03 EPS for the quarter, beating the consensus estimate of $3.99 by $0.04. The firm had revenue of $465.84 million during the quarter, compared to the consensus estimate of $466.47 million. Essex Property Trust had a net margin of 43.51% and a return on equity of 13.98%. During the same period in the prior year, the firm posted $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. As a group, equities analysts anticipate that Essex Property Trust, Inc. will post 15.96 EPS for the current year.

Essex Property Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th will be paid a dividend of $2.57 per share. This represents a $10.28 annualized dividend and a dividend yield of 4.0%. The ex-dividend date of this dividend is Tuesday, September 30th. Essex Property Trust’s dividend payout ratio is 82.64%.

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.