Princeton Global Asset Management LLC Makes New $34,000 Investment in Essex Property Trust, Inc. $ESS

Princeton Global Asset Management LLC acquired a new position in Essex Property Trust, Inc. (NYSE:ESS) in the second quarter, Holdings Channel reports. The fund acquired 120 shares of the real estate investment trust’s stock, valued at approximately $34,000.

Other institutional investors have also added to or reduced their stakes in the company. Asset Management One Co. Ltd. grew its position in Essex Property Trust by 1.2% in the 1st quarter. Asset Management One Co. Ltd. now owns 133,886 shares of the real estate investment trust’s stock worth $41,045,000 after purchasing an additional 1,569 shares in the last quarter. Kentucky Retirement Systems Insurance Trust Fund purchased a new position in Essex Property Trust in the first quarter valued at about $569,000. Wealth Enhancement Advisory Services LLC boosted its stake in Essex Property Trust by 15.1% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 10,092 shares of the real estate investment trust’s stock valued at $3,094,000 after acquiring an additional 1,321 shares during the last quarter. Sequoia Financial Advisors LLC boosted its stake in Essex Property Trust by 6.3% in the first quarter. Sequoia Financial Advisors LLC now owns 778 shares of the real estate investment trust’s stock valued at $239,000 after acquiring an additional 46 shares during the last quarter. Finally, Vanguard Group Inc. boosted its stake in Essex Property Trust by 0.8% in the first 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 during the last quarter. 96.51% of the stock is owned by institutional investors.

Essex Property Trust Stock Up 0.6%

ESS opened at $262.38 on Wednesday. The company has a 50 day moving average of $263.80 and a 200 day moving average of $273.38. The company has a market cap of $16.90 billion, a PE ratio of 21.09, a price-to-earnings-growth ratio of 6.33 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 released its quarterly earnings data on Tuesday, July 29th. The real estate investment trust reported $4.03 EPS for the quarter, topping the consensus estimate of $3.99 by $0.04. The company had revenue of $465.84 million during the quarter, compared to the consensus estimate 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 last year, the firm earned $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. On average, sell-side analysts expect that Essex Property Trust, Inc. will post 15.96 EPS for the current year.

Essex Property Trust Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th were issued a $2.57 dividend. The ex-dividend date of this dividend was Tuesday, September 30th. This represents a $10.28 annualized dividend and a yield of 3.9%. Essex Property Trust’s dividend payout ratio (DPR) is 82.64%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on ESS. Morgan Stanley dropped their target price on shares of Essex Property Trust from $304.00 to $285.00 and set an “equal weight” rating on the stock in a research note on Wednesday, August 13th. UBS Group dropped their target price on shares of Essex Property Trust from $297.00 to $295.00 and set a “neutral” rating on the stock in a research note on Tuesday, July 15th. Scotiabank dropped their target price on shares of Essex Property Trust from $320.00 to $309.00 and set a “sector outperform” rating on the stock in a research note on Tuesday, August 5th. Piper Sandler cut shares of Essex Property Trust from an “overweight” rating to a “neutral” rating and dropped their target price for the company from $355.00 to $275.00 in a research note on Monday, August 4th. Finally, Barclays dropped their target price on shares of Essex Property Trust from $298.00 to $297.00 and set an “equal weight” rating on the stock in a research note on Tuesday, September 30th. Seven research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $297.09.

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.