Bank of New York Mellon Corp Has $126 Million Position in Essex Property Trust, Inc. $ESS

Bank of New York Mellon Corp cut its position in Essex Property Trust, Inc. (NYSE:ESS) by 1.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 444,610 shares of the real estate investment trust’s stock after selling 7,899 shares during the quarter. Bank of New York Mellon Corp’s holdings in Essex Property Trust were worth $126,003,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. WPG Advisers LLC bought a new position in Essex Property Trust in the 1st quarter valued at approximately $31,000. Ransom Advisory Ltd bought a new stake in Essex Property Trust during the 1st quarter worth approximately $31,000. Richardson Financial Services Inc. grew its holdings in Essex Property Trust by 300.0% during the 2nd quarter. Richardson Financial Services Inc. now owns 100 shares of the real estate investment trust’s stock worth $28,000 after acquiring an additional 75 shares during the last quarter. Zions Bancorporation National Association UT acquired a new position in Essex Property Trust in the 1st quarter valued at approximately $34,000. Finally, GKV Capital Management Co. Inc. acquired a new position in Essex Property Trust in the 1st quarter valued at approximately $35,000. 96.51% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on ESS shares. Barclays reduced their price objective 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. Wall Street Zen downgraded Essex Property Trust from a “hold” rating to a “sell” rating in a report on Saturday, October 25th. Weiss Ratings reissued a “hold (c+)” rating on shares of Essex Property Trust in a research note on Wednesday, October 8th. Piper Sandler downgraded Essex Property Trust from an “overweight” rating to a “neutral” rating and lowered their price objective for the stock from $355.00 to $275.00 in a research report on Monday, August 4th. Finally, Wells Fargo & Company lifted their price objective on Essex Property Trust from $279.00 to $280.00 and gave the stock an “equal weight” rating in a research note on Monday, October 13th. Seven investment analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Essex Property Trust currently has an average rating of “Hold” and an average price target of $295.03.

Essex Property Trust Trading Down 1.6%

Shares of ESS stock opened at $256.24 on Friday. Essex Property Trust, Inc. has a fifty-two week low of $243.25 and a fifty-two week high of $316.29. The company has a debt-to-equity ratio of 1.16, a quick ratio of 1.09 and a current ratio of 1.09. The stock has a 50 day simple moving average of $262.53 and a two-hundred day simple moving average of $272.52. The company has a market cap of $16.50 billion, a P/E ratio of 19.47, a PEG ratio of 6.00 and a beta of 0.82.

Essex Property Trust (NYSE:ESS) last announced its quarterly earnings data on Wednesday, October 29th. The real estate investment trust reported $3.97 EPS for the quarter, topping the consensus estimate of $3.96 by $0.01. The company had revenue of $473.30 million during the quarter, compared to the consensus estimate of $472.11 million. Essex Property Trust had a net margin of 45.46% and a return on equity of 14.70%. During the same quarter last year, the firm posted $3.91 EPS. Essex Property Trust has set its Q4 2025 guidance at 3.930-4.030 EPS. FY 2025 guidance at 15.890-15.990 EPS. Research analysts forecast that Essex Property Trust, Inc. will post 15.96 earnings per share for the current year.

Essex Property Trust Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th were issued a dividend of $2.57 per share. The ex-dividend date was Tuesday, September 30th. This represents a $10.28 annualized dividend and a dividend yield of 4.0%. Essex Property Trust’s dividend payout ratio is currently 78.12%.

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.