Resona Asset Management Co. Ltd. Sells 2,028 Shares of Essex Property Trust, Inc. $ESS

Resona Asset Management Co. Ltd. cut its position in shares of Essex Property Trust, Inc. (NYSE:ESS) by 4.5% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 42,778 shares of the real estate investment trust’s stock after selling 2,028 shares during the quarter. Resona Asset Management Co. Ltd.’s holdings in Essex Property Trust were worth $12,190,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in shares of Essex Property Trust by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 10,440,274 shares of the real estate investment trust’s stock worth $3,200,675,000 after acquiring an additional 87,117 shares during the period. Valeo Financial Advisors LLC increased its position in shares of Essex Property Trust by 151,452.8% during the second quarter. Valeo Financial Advisors LLC now owns 2,978,012 shares of the real estate investment trust’s stock valued at $843,969,000 after purchasing an additional 2,976,047 shares during the period. Price T Rowe Associates Inc. MD raised its stake in shares of Essex Property Trust by 66.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 2,746,242 shares of the real estate investment trust’s stock valued at $841,916,000 after purchasing an additional 1,096,619 shares in the last quarter. Wealthquest Corp bought a new position in Essex Property Trust in the first quarter worth $384,606,000. Finally, Northern Trust Corp boosted its stake in Essex Property Trust by 10.6% during the first quarter. Northern Trust Corp now owns 1,247,133 shares of the real estate investment trust’s stock worth $382,334,000 after buying an additional 119,303 shares in the last quarter. Institutional investors and hedge funds own 96.51% of the company’s stock.

Essex Property Trust Price Performance

Shares of NYSE ESS opened at $260.32 on Friday. The stock’s 50-day simple moving average is $262.33 and its 200-day simple moving average is $272.44. 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 firm has a market capitalization of $16.77 billion, a PE ratio of 19.78, a price-to-earnings-growth ratio of 6.00 and a beta of 0.82. Essex Property Trust, Inc. has a fifty-two week low of $243.25 and a fifty-two 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 earnings per share (EPS) for the quarter, beating the consensus estimate 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 analysts’ expectations of $472.11 million. During the same quarter in the prior year, the business 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. As a group, equities research analysts forecast that Essex Property Trust, Inc. will post 15.96 EPS for the current fiscal year.

Essex Property Trust Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Evercore ISI reduced their price objective on shares of Essex Property Trust from $279.00 to $271.00 and set a “cautious” rating for the company in a report on Monday. Weiss Ratings reissued a “hold (c+)” rating on shares of Essex Property Trust in a research report on Wednesday, October 8th. Scotiabank decreased their price objective on Essex Property Trust from $294.00 to $284.00 and set a “sector outperform” rating on the stock in a report on Tuesday. Wells Fargo & Company increased their target price on Essex Property Trust from $279.00 to $280.00 and gave the stock an “equal weight” rating in a report on Monday, October 13th. Finally, Cantor Fitzgerald started coverage on Essex Property Trust in a research report on Wednesday, October 1st. They set an “overweight” rating and a $300.00 target price for the company. Seven analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $295.03.

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.