Wealthfront Advisers LLC Reduces Stock Holdings in Essex Property Trust, Inc. $ESS

Wealthfront Advisers LLC decreased its position in Essex Property Trust, Inc. (NYSE:ESS) by 17.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,834 shares of the real estate investment trust’s stock after selling 997 shares during the period. Wealthfront Advisers LLC’s holdings in Essex Property Trust were worth $1,370,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. WPG Advisers LLC purchased a new position in Essex Property Trust in the first quarter valued at approximately $31,000. Ransom Advisory Ltd purchased a new position in Essex Property Trust in the first quarter valued at approximately $31,000. Richardson Financial Services Inc. lifted its stake in Essex Property Trust by 300.0% in the second quarter. Richardson Financial Services Inc. now owns 100 shares of the real estate investment trust’s stock valued at $28,000 after purchasing an additional 75 shares during the last quarter. Zions Bancorporation National Association UT purchased a new position in Essex Property Trust in the first quarter valued at approximately $34,000. Finally, GKV Capital Management Co. Inc. purchased a new position in Essex Property Trust in the first quarter valued at approximately $35,000. Hedge funds and other institutional investors own 96.51% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently commented on ESS. Royal Bank Of Canada raised their price objective on shares of Essex Property Trust from $306.00 to $307.00 and gave the stock an “outperform” rating in a report on Thursday, July 31st. Weiss Ratings reissued a “hold (c+)” rating on shares of Essex Property Trust in a report on Wednesday, October 8th. Wells Fargo & Company boosted 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 report on Monday, October 13th. Cantor Fitzgerald began coverage on shares of Essex Property Trust in a report on Wednesday, October 1st. They set an “overweight” rating and a $300.00 target price on the stock. Finally, Wall Street Zen cut shares of Essex Property Trust from a “hold” rating to a “sell” rating in a report on Saturday, October 25th. Seven equities research 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. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $297.09.

Essex Property Trust Trading Up 1.2%

Essex Property Trust stock opened at $250.06 on Friday. The stock has a market cap of $16.10 billion, a P/E ratio of 19.00, a PEG ratio of 6.00 and a beta of 0.81. Essex Property Trust, Inc. has a fifty-two week low of $243.25 and a fifty-two week high of $316.29. The firm’s fifty day moving average price is $263.62 and its 200-day moving average price is $273.15. 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 (NYSE:ESS) last released its quarterly earnings results on Wednesday, October 29th. The real estate investment trust reported $3.97 earnings per share for the quarter, topping the consensus estimate of $3.96 by $0.01. The firm had revenue of $473.30 million for the quarter, compared to analysts’ expectations of $472.11 million. Essex Property Trust had a net margin of 45.46% and a return on equity of 14.70%. During the same quarter in the prior year, the firm posted $3.91 earnings per share. Essex Property Trust has set its Q4 2025 guidance at 3.930-4.030 EPS. FY 2025 guidance at 15.890-15.990 EPS. Equities research analysts forecast that Essex Property Trust, Inc. will post 15.96 earnings per share for the current fiscal year.

Essex Property Trust Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th were issued a $2.57 dividend. The ex-dividend date of this dividend was Tuesday, September 30th. This represents a $10.28 annualized dividend and a dividend yield of 4.1%. Essex Property Trust’s dividend payout ratio is presently 82.64%.

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.