Richardson Financial Services Inc. Buys 75 Shares of Essex Property Trust, Inc. $ESS

Richardson Financial Services Inc. increased its holdings in Essex Property Trust, Inc. (NYSE:ESS) by 300.0% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 100 shares of the real estate investment trust’s stock after purchasing an additional 75 shares during the period. Richardson Financial Services Inc.’s holdings in Essex Property Trust were worth $28,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in ESS. WPG Advisers LLC acquired a new position in Essex Property Trust in the first quarter worth about $31,000. Ransom Advisory Ltd acquired a new position in Essex Property Trust in the first quarter worth about $31,000. Zions Bancorporation National Association UT acquired a new position in Essex Property Trust in the first quarter worth about $34,000. GKV Capital Management Co. Inc. acquired a new position in Essex Property Trust in the first quarter worth about $35,000. Finally, Capital Analysts LLC raised its position in Essex Property Trust by 56.3% in the first quarter. Capital Analysts LLC now owns 136 shares of the real estate investment trust’s stock worth $42,000 after purchasing an additional 49 shares in the last quarter. Institutional investors and hedge funds own 96.51% of the company’s stock.

Essex Property Trust Stock Performance

ESS stock opened at $255.94 on Friday. The company has a debt-to-equity ratio of 1.16, a current ratio of 1.09 and a quick ratio of 1.09. The company has a 50 day moving average price of $263.21 and a 200 day moving average price of $275.34. Essex Property Trust, Inc. has a fifty-two week low of $243.85 and a fifty-two week high of $316.29. The stock has a market capitalization of $16.48 billion, a PE ratio of 20.57, a price-to-earnings-growth ratio of 6.21 and a beta of 0.81.

Essex Property Trust (NYSE:ESS) last posted its quarterly earnings data on Tuesday, July 29th. The real estate investment trust reported $4.03 earnings per share 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 firm had revenue of $465.84 million during the quarter, compared to analysts’ expectations of $466.47 million. During the same quarter in the previous year, the company 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. Analysts forecast that Essex Property Trust, Inc. will post 15.96 EPS for the current year.

Essex Property Trust Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th will be given a $2.57 dividend. This represents a $10.28 annualized dividend and a yield of 4.0%. The ex-dividend date is Tuesday, September 30th. Essex Property Trust’s payout ratio is 82.64%.

Analysts Set New Price Targets

Several research analysts recently issued reports on ESS shares. Raymond James Financial raised shares of Essex Property Trust from a “market perform” rating to an “outperform” rating and set a $315.00 price target for the company in a research report on Tuesday, June 24th. BNP Paribas Exane cut shares of Essex Property Trust from an “outperform” rating to a “neutral” rating in a research note on Monday, September 29th. Stifel Nicolaus increased their price target on Essex Property Trust from $301.50 to $305.50 and gave the stock a “hold” rating in a research report on Wednesday, July 30th. BNP Paribas cut Essex Property Trust from an “outperform” rating to a “hold” rating in a report on Monday, September 29th. Finally, Truist Financial dropped their price target on Essex Property Trust from $295.00 to $283.00 and set a “hold” rating for the company in a report on Tuesday, August 12th. Seven analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $297.28.

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.