Bank of Montreal Can Sells 8,665 Shares of Essex Property Trust, Inc. $ESS

Bank of Montreal Can reduced its position in shares of Essex Property Trust, Inc. (NYSE:ESS) by 20.9% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 32,811 shares of the real estate investment trust’s stock after selling 8,665 shares during the period. Bank of Montreal Can’s holdings in Essex Property Trust were worth $9,299,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in 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 valued at $3,200,675,000 after acquiring an additional 87,117 shares in the last quarter. Korea Investment CORP grew its stake in shares of Essex Property Trust by 26.7% during the first quarter. Korea Investment CORP now owns 75,510 shares of the real estate investment trust’s stock valued at $23,149,000 after purchasing an additional 15,912 shares during the last quarter. Spirit of America Management Corp NY increased its holdings in shares of Essex Property Trust by 19.9% in the second 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 purchasing an additional 1,600 shares in the last quarter. Spire Wealth Management increased its holdings in shares of Essex Property Trust by 12,050.0% in the second quarter. Spire Wealth Management now owns 243 shares of the real estate investment trust’s stock valued at $69,000 after purchasing an additional 241 shares in the last quarter. Finally, New York State Common Retirement Fund raised its position in Essex Property Trust by 5.9% in 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 purchasing an additional 2,500 shares during the last quarter. 96.51% of the stock is currently owned by institutional investors and hedge funds.

Essex Property Trust Trading Up 1.6%

Shares of NYSE ESS opened at $260.32 on Monday. Essex Property Trust, Inc. has a twelve month low of $243.25 and a twelve month high of $316.29. The stock has a market cap of $16.77 billion, a price-to-earnings ratio of 19.78, a P/E/G ratio of 6.00 and a beta of 0.82. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 1.16. The company’s fifty day moving average is $262.33 and its 200-day moving average is $272.37.

Essex Property Trust (NYSE:ESS) last released its quarterly earnings data on Wednesday, October 29th. The real estate investment trust reported $3.97 EPS for the quarter, beating analysts’ consensus estimates of $3.96 by $0.01. The business had revenue of $473.30 million during 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 company 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. Equities research analysts predict that Essex Property Trust, Inc. will post 15.96 EPS for the current year.

Essex Property Trust Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th were issued a dividend of $2.57 per share. This represents a $10.28 annualized dividend and a dividend yield of 3.9%. The ex-dividend date was Tuesday, September 30th. Essex Property Trust’s payout ratio is 78.12%.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. UBS Group decreased their price objective on Essex Property Trust from $297.00 to $295.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 15th. Wall Street Zen upgraded Essex Property Trust from a “sell” rating to a “hold” rating in a report on Saturday. Piper Sandler cut Essex Property Trust from an “overweight” rating to a “neutral” rating and dropped their price objective for the stock from $355.00 to $275.00 in a report on Monday, August 4th. Royal Bank Of Canada upped their target price on shares of Essex Property Trust from $306.00 to $307.00 and gave the company an “outperform” rating in a research report on Thursday, July 31st. Finally, Cantor Fitzgerald started coverage on shares of Essex Property Trust in a research report on Wednesday, October 1st. They set an “overweight” rating and a $300.00 price target for the company. Seven research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $295.03.

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.