Key Points
- Essex Property Trust director Mary Kasaris sold 600 shares on May 27 at an average price of $279.45, totaling $167,670. After the sale, she still owned 2,394 shares, a 20.04% reduction in her position.
- The stock was trading lower, opening at $272.90 and down 1.3% in the session, while still sitting near its 52-week range of $238.46 to $294.09.
- Recent fundamentals and income updates were mixed: Essex missed quarterly EPS expectations but beat revenue estimates, and it declared a $2.59 quarterly dividend payable July 15, implying a 3.8% yield.
Essex Property Trust, Inc. (NYSE:ESS - Get Free Report) Director Mary Kasaris sold 600 shares of the business's stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $279.45, for a total transaction of $167,670.00. Following the completion of the sale, the director owned 2,394 shares in the company, valued at $669,003.30. This represents a 20.04% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.
Essex Property Trust Stock Down 1.3%
Shares of NYSE:ESS opened at $272.90 on Friday. Essex Property Trust, Inc. has a 52 week low of $238.46 and a 52 week high of $294.09. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.98 and a current ratio of 0.98. The company's fifty day moving average is $258.26 and its 200-day moving average is $256.77. The company has a market capitalization of $17.54 billion, a PE ratio of 30.66, a P/E/G ratio of 11.95 and a beta of 0.71.
Essex Property Trust (NYSE:ESS - Get Free Report) last issued its earnings results on Tuesday, April 28th. The real estate investment trust reported $1.65 EPS for the quarter, missing the consensus estimate of $3.96 by ($2.31). Essex Property Trust had a net margin of 30.03% and a return on equity of 10.00%. The firm had revenue of $484.76 million during the quarter, compared to analyst estimates of $479.89 million. During the same quarter in the prior year, the firm posted $3.97 EPS. Essex Property Trust has set its Q2 2026 guidance at 3.920-4.040 EPS. Equities research analysts predict that Essex Property Trust, Inc. will post 16.06 earnings per share for the current fiscal year.
Essex Property Trust Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th will be paid a $2.59 dividend. This represents a $10.36 annualized dividend and a dividend yield of 3.8%. The ex-dividend date is Tuesday, June 30th. Essex Property Trust's payout ratio is currently 116.40%.
Analyst Upgrades and Downgrades
Several research analysts recently issued reports on ESS shares. Barclays upped their price target on shares of Essex Property Trust from $272.00 to $277.00 and gave the stock an "equal weight" rating in a research report on Monday, May 11th. Weiss Ratings upgraded shares of Essex Property Trust from a "hold (c)" rating to a "hold (c+)" rating in a research report on Monday, May 4th. Piper Sandler upgraded shares of Essex Property Trust from a "neutral" rating to an "overweight" rating and upped their price target for the stock from $275.00 to $310.00 in a research report on Monday, May 4th. Scotiabank upped their price target on shares of Essex Property Trust from $278.00 to $282.00 and gave the stock an "outperform" rating in a research report on Thursday, May 14th. Finally, Morgan Stanley set a $293.00 price target on shares of Essex Property Trust in a research report on Friday, May 15th. Five equities research analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, Essex Property Trust has an average rating of "Hold" and an average price target of $284.50.
Read Our Latest Report on Essex Property Trust
Institutional Trading of Essex Property Trust
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Caprock Group LLC bought a new stake in Essex Property Trust during the 3rd quarter worth about $1,900,000. JPMorgan Chase & Co. raised its holdings in Essex Property Trust by 3.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 594,450 shares of the real estate investment trust's stock worth $159,114,000 after purchasing an additional 22,378 shares during the last quarter. Centersquare Investment Management LLC raised its holdings in Essex Property Trust by 473.5% during the 3rd quarter. Centersquare Investment Management LLC now owns 516,756 shares of the real estate investment trust's stock worth $138,315,000 after purchasing an additional 426,650 shares during the last quarter. Creative Financial Designs Inc. ADV raised its holdings in Essex Property Trust by 23,100.0% during the 3rd quarter. Creative Financial Designs Inc. ADV now owns 2,552 shares of the real estate investment trust's stock worth $683,000 after purchasing an additional 2,541 shares during the last quarter. Finally, ProShare Advisors LLC raised its holdings in Essex Property Trust by 2.1% during the 3rd quarter. ProShare Advisors LLC now owns 601,341 shares of the real estate investment trust's stock worth $160,955,000 after purchasing an additional 12,446 shares during the last quarter. 96.51% of the stock is owned by institutional investors.
About Essex Property Trust
(
Get Free Report)
Essex Property Trust, Inc (NYSE: ESS) is a publicly traded real estate investment trust that acquires, develops, owns and operates multifamily residential properties. The company focuses on market-rate apartment communities and delivers a full suite of property services including leasing, resident services, asset management, and capital improvement programs designed to preserve and enhance long‑term property values.
Essex concentrates its portfolio in West Coast markets, with a significant presence in California and the Pacific Northwest.
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