OVERSEA CHINESE BANKING Corp Ltd Acquires 3,863 Shares of Essex Property Trust, Inc. $ESS

OVERSEA CHINESE BANKING Corp Ltd lifted its holdings in shares of Essex Property Trust, Inc. (NYSE:ESS) by 12.9% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 33,885 shares of the real estate investment trust’s stock after acquiring an additional 3,863 shares during the period. OVERSEA CHINESE BANKING Corp Ltd owned approximately 0.05% of Essex Property Trust worth $9,603,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. WPG Advisers LLC bought a new stake in shares of Essex Property Trust during the first quarter worth about $31,000. Ransom Advisory Ltd bought a new stake in Essex Property Trust in the 1st quarter worth about $31,000. Richardson Financial Services Inc. grew its position in Essex Property Trust by 300.0% in the 2nd quarter. Richardson Financial Services Inc. now owns 100 shares of the real estate investment trust’s stock worth $28,000 after purchasing an additional 75 shares in the last quarter. Zions Bancorporation National Association UT bought a new stake in Essex Property Trust in the 1st quarter worth about $34,000. Finally, GKV Capital Management Co. Inc. bought a new stake in Essex Property Trust in the 1st quarter worth about $35,000. 96.51% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have issued reports on ESS. BNP Paribas downgraded shares of Essex Property Trust from an “outperform” rating to a “hold” rating in a research report on Monday, September 29th. Cantor Fitzgerald began coverage on shares of Essex Property Trust in a research report on Wednesday, October 1st. They issued an “overweight” rating and a $300.00 price objective for the company. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Essex Property Trust in a research report on Saturday. Evercore ISI reduced their price objective on shares of Essex Property Trust from $283.00 to $279.00 and set an “in-line” rating for the company in a research report on Monday, October 13th. Finally, Morgan Stanley reduced their price objective on shares of Essex Property Trust from $304.00 to $285.00 and set an “equal weight” rating for the company in a research report on Wednesday, August 13th. Seven research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $297.09.

Essex Property Trust Stock Up 0.4%

ESS opened at $264.74 on Monday. 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 stock has a market cap of $17.05 billion, a price-to-earnings ratio of 21.28, a PEG ratio of 6.43 and a beta of 0.81. Essex Property Trust, Inc. has a twelve month low of $243.85 and a twelve month high of $316.29. The company’s 50-day moving average price is $264.17 and its two-hundred day moving average price is $273.54.

Essex Property Trust (NYSE:ESS) last released its earnings results on Tuesday, July 29th. The real estate investment trust reported $4.03 earnings per share for the quarter, beating analysts’ consensus estimates of $3.99 by $0.04. The firm had revenue of $465.84 million for the quarter, compared to analysts’ expectations 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 previous year, the company earned $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 expect that Essex Property Trust, Inc. will post 15.96 earnings per share for the current year.

Essex Property Trust Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th were paid a dividend of $2.57 per share. This represents a $10.28 dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date was Tuesday, September 30th. Essex Property Trust’s dividend payout ratio is presently 82.64%.

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.