Naviter Wealth LLC Buys 399 Shares of Essex Property Trust, Inc. $ESS

Naviter Wealth LLC increased its stake in shares of Essex Property Trust, Inc. (NYSE:ESS) by 8.9% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,888 shares of the real estate investment trust’s stock after acquiring an additional 399 shares during the quarter. Naviter Wealth LLC’s holdings in Essex Property Trust were worth $1,398,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. lifted its holdings 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 worth $3,200,675,000 after buying an additional 87,117 shares during the period. Valeo Financial Advisors LLC lifted its holdings in Essex Property Trust by 151,452.8% in the 2nd quarter. Valeo Financial Advisors LLC now owns 2,978,012 shares of the real estate investment trust’s stock worth $843,969,000 after buying an additional 2,976,047 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in Essex Property Trust by 66.5% in the 1st 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 period. Wealthquest Corp purchased a new stake in Essex Property Trust in the 1st quarter worth approximately $384,606,000. Finally, Northern Trust Corp lifted its holdings in Essex Property Trust by 10.6% in the 1st 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 period. 96.51% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on ESS. 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. Scotiabank dropped their price objective on Essex Property Trust from $320.00 to $309.00 and set a “sector outperform” rating for the company in a report on Tuesday, August 5th. Wells Fargo & Company increased their price objective on Essex Property Trust from $279.00 to $280.00 and gave the stock an “equal weight” rating in a report on Monday. Morgan Stanley dropped their price objective on Essex Property Trust from $304.00 to $285.00 and set an “equal weight” rating for the company in a report on Wednesday, August 13th. Finally, Truist Financial lowered their target price on 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. 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 stock. Based on data from MarketBeat.com, Essex Property Trust currently has a consensus rating of “Hold” and a consensus target price of $297.09.

Essex Property Trust Stock Up 0.6%

Shares of NYSE:ESS opened at $259.05 on Wednesday. The stock has a fifty day simple moving average of $263.29 and a two-hundred day simple moving average of $274.69. The stock has a market capitalization of $16.68 billion, a price-to-earnings ratio of 20.82, a PEG ratio of 6.26 and a beta of 0.81. Essex Property Trust, Inc. has a 12-month low of $243.85 and a 12-month high of $316.29. 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 announced its quarterly earnings data on Tuesday, July 29th. The real estate investment trust reported $4.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.99 by $0.04. The business had revenue of $465.84 million during the quarter, compared to analysts’ expectations of $466.47 million. Essex Property Trust had a return on equity of 13.98% and a net margin of 43.51%.During the same quarter in the previous year, the business 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. On average, research analysts anticipate that Essex Property Trust, Inc. will post 15.96 earnings per share for the current fiscal year.

Essex Property Trust Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th will be issued a $2.57 dividend. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $10.28 dividend on an annualized basis and a dividend yield of 4.0%. Essex Property Trust’s dividend payout ratio (DPR) 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.