Earnest Partners LLC Has $15.79 Million Position in Essex Property Trust, Inc. $ESS

Earnest Partners LLC lessened its holdings in shares of Essex Property Trust, Inc. (NYSE:ESS) by 0.6% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 51,506 shares of the real estate investment trust’s stock after selling 296 shares during the quarter. Earnest Partners LLC’s holdings in Essex Property Trust were worth $15,790,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in shares of Essex Property Trust by 0.8% during 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 purchasing an additional 87,117 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in Essex Property Trust by 66.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 2,746,242 shares of the real estate investment trust’s stock worth $841,916,000 after buying an additional 1,096,619 shares during the last quarter. Wealthquest Corp acquired a new position in Essex Property Trust during the first quarter worth $384,606,000. Northern Trust Corp lifted its position in shares of Essex Property Trust by 10.6% in 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 during the last quarter. Finally, Ameriprise Financial Inc. lifted its position in shares of Essex Property Trust by 6.6% in the first quarter. Ameriprise Financial Inc. now owns 854,606 shares of the real estate investment trust’s stock worth $261,205,000 after buying an additional 52,793 shares during the last quarter. 96.51% of the stock is owned by institutional investors.

Essex Property Trust Trading Up 1.2%

Shares of ESS stock opened at $268.01 on Thursday. The firm has a market capitalization of $17.26 billion, a P/E ratio of 21.54, a price-to-earnings-growth ratio of 6.81 and a beta of 0.80. Essex Property Trust, Inc. has a 1 year low of $243.85 and a 1 year high of $317.73. The firm’s fifty day simple moving average is $274.91 and its 200 day simple moving average is $282.80. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 1.16.

Essex Property Trust (NYSE:ESS) last posted its quarterly earnings results on Tuesday, July 29th. The real estate investment trust reported $4.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.99 by $0.04. Essex Property Trust had a net margin of 43.51% and a return on equity of 13.98%. The company had revenue of $465.84 million for the quarter, compared to analyst estimates of $466.47 million. During the same period last year, the business posted $3.94 EPS. 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, sell-side analysts predict that Essex Property Trust, Inc. will post 15.96 EPS for the current year.

Analyst Ratings Changes

A number of brokerages recently weighed in on ESS. Wall Street Zen raised Essex Property Trust from a “sell” rating to a “hold” rating in a research note on Saturday, August 2nd. UBS Group dropped their price target on shares of 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. Truist Financial reduced their price objective on shares of Essex Property Trust from $295.00 to $283.00 and set a “hold” rating for the company in a research note on Tuesday, August 12th. Mizuho dropped their target price on shares of Essex Property Trust from $314.00 to $293.00 and set an “outperform” rating on the stock in a report on Friday, May 23rd. Finally, Stifel Nicolaus boosted their target price on shares of Essex Property Trust from $301.50 to $305.50 and gave the stock a “hold” rating in a research report on Wednesday, July 30th. Seven investment analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $301.42.

Essex Property Trust 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.