SteelPeak Wealth LLC Makes New Investment in Essex Property Trust, Inc. $ESS

SteelPeak Wealth LLC purchased a new position in shares of Essex Property Trust, Inc. (NYSE:ESS) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 7,804 shares of the real estate investment trust’s stock, valued at approximately $2,232,000.

A number of other institutional investors also recently bought and sold shares of ESS. GAMMA Investing LLC raised its position in Essex Property Trust by 16.1% during the 1st quarter. GAMMA Investing LLC now owns 1,462 shares of the real estate investment trust’s stock worth $448,000 after buying an additional 203 shares during the last quarter. CX Institutional purchased a new position in Essex Property Trust during the 1st quarter worth approximately $152,000. Simon Quick Advisors LLC purchased a new position in Essex Property Trust during the 1st quarter worth approximately $289,000. Fifth Third Bancorp raised its position in Essex Property Trust by 1.6% during the 1st quarter. Fifth Third Bancorp now owns 3,871 shares of the real estate investment trust’s stock worth $1,187,000 after buying an additional 61 shares during the last quarter. Finally, Azzad Asset Management Inc. ADV purchased a new position in shares of Essex Property Trust during the 1st quarter valued at approximately $1,723,000. 96.51% of the stock is owned by hedge funds and other institutional investors.

Essex Property Trust Price Performance

Essex Property Trust stock opened at $262.10 on Wednesday. The company’s fifty day moving average price is $263.38 and its 200 day moving average price is $276.29. Essex Property Trust, Inc. has a 1 year low of $243.85 and a 1 year high of $316.29. The stock has a market capitalization of $16.88 billion, a P/E ratio of 21.07, a P/E/G ratio of 6.66 and a beta of 0.81. The company has a debt-to-equity ratio of 1.16, a quick ratio of 1.09 and a current ratio of 1.09.

Essex Property Trust (NYSE:ESS) last released its quarterly earnings results 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. 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 for the quarter, compared to analysts’ expectations of $466.47 million. During the same quarter last year, the company 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. As a group, equities research analysts anticipate that Essex Property Trust, Inc. will post 15.96 earnings per share for the current fiscal year.

Essex Property Trust Announces Dividend

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 paid a dividend of $2.57 per share. This represents a $10.28 annualized dividend and a yield of 3.9%. The ex-dividend date of this dividend is Tuesday, September 30th. Essex Property Trust’s payout ratio is 82.64%.

Wall Street Analyst Weigh In

ESS has been the subject of several recent research reports. UBS Group cut their target price on shares of Essex Property Trust from $297.00 to $295.00 and set a “neutral” rating for the company in a report on Tuesday, July 15th. Stifel Nicolaus lifted their target price on shares of Essex Property Trust from $301.50 to $305.50 and gave the company a “hold” rating in a report on Wednesday, July 30th. Wells Fargo & Company cut their target price on shares of Essex Property Trust from $325.00 to $279.00 and set an “equal weight” rating for the company in a report on Wednesday, August 27th. Raymond James Financial raised shares of Essex Property Trust from a “market perform” rating to an “outperform” rating and set a $315.00 target price for the company in a report on Tuesday, June 24th. Finally, Barclays cut their target price on shares of Essex Property Trust from $298.00 to $297.00 and set an “equal weight” rating for the company in a report on Tuesday, September 30th. Seven investment analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Essex Property Trust currently has a consensus rating of “Hold” and a consensus price target of $297.28.

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.