Prudential PLC Purchases 1,228 Shares of Essex Property Trust, Inc. $ESS

Prudential PLC lifted its position in shares of Essex Property Trust, Inc. (NYSE:ESS) by 157.8% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,006 shares of the real estate investment trust’s stock after purchasing an additional 1,228 shares during the period. Prudential PLC’s holdings in Essex Property Trust were worth $568,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. WPG Advisers LLC acquired a new position in Essex Property Trust in the 1st quarter valued at $31,000. Ransom Advisory Ltd bought a new stake in shares of Essex Property Trust in the first quarter valued at about $31,000. Richardson Financial Services Inc. grew its stake in shares of 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 acquiring an additional 75 shares in the last quarter. Zions Bancorporation National Association UT bought a new position in Essex Property Trust during the first quarter worth about $34,000. Finally, GKV Capital Management Co. Inc. acquired 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 and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on ESS shares. Wells Fargo & Company decreased their target price on shares of Essex Property Trust from $280.00 to $268.00 and set an “equal weight” rating on the stock in a research report on Monday, November 10th. Wall Street Zen upgraded Essex Property Trust from a “sell” rating to a “hold” rating in a research note on Saturday, November 8th. Evercore ISI lowered their price objective on Essex Property Trust from $279.00 to $271.00 and set a “cautious” rating on the stock in a research note on Monday, November 3rd. Royal Bank Of Canada lifted their price objective on Essex Property Trust from $306.00 to $307.00 and gave the company an “outperform” rating in a report on Thursday, July 31st. Finally, Stifel Nicolaus upped their target price on Essex Property Trust from $301.50 to $305.50 and gave the company a “hold” rating in a research report on Wednesday, July 30th. Seven research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Essex Property Trust presently has a consensus rating of “Hold” and a consensus target price of $291.97.

Essex Property Trust Stock Down 0.3%

Shares of ESS opened at $260.38 on Tuesday. The firm has a 50 day simple moving average of $260.30 and a two-hundred day simple moving average of $270.40. The company has a debt-to-equity ratio of 1.16, a current ratio of 1.09 and a quick ratio of 1.09. Essex Property Trust, Inc. has a one year low of $243.25 and a one year high of $316.29. The company has a market cap of $16.77 billion, a P/E ratio of 19.79, a P/E/G ratio of 6.00 and a beta of 0.82.

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 for the quarter, beating analysts’ consensus estimates of $3.96 by $0.01. Essex Property Trust had a return on equity of 14.70% and a net margin of 45.46%.The firm had revenue of $473.30 million for the quarter, compared to the consensus estimate of $472.11 million. During the same quarter last 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. Research analysts forecast that Essex Property Trust, Inc. will post 15.96 EPS for the current fiscal year.

Essex Property Trust Dividend Announcement

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

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.