Sterling Capital Management LLC Trims Stock Position in Essex Property Trust, Inc. $ESS

Sterling Capital Management LLC lessened its position in shares of Essex Property Trust, Inc. (NYSE:ESS) by 17.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 9,727 shares of the real estate investment trust’s stock after selling 2,085 shares during the period. Sterling Capital Management LLC’s holdings in Essex Property Trust were worth $2,354,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Dorsey & Whitney Trust CO LLC grew its position in shares of Essex Property Trust by 5.2% during the 4th quarter. Dorsey & Whitney Trust CO LLC now owns 814 shares of the real estate investment trust’s stock valued at $213,000 after purchasing an additional 40 shares in the last quarter. Segment Wealth Management LLC raised its position in shares of Essex Property Trust by 5.1% in the fourth quarter. Segment Wealth Management LLC now owns 913 shares of the real estate investment trust’s stock worth $239,000 after buying an additional 44 shares in the last quarter. Norinchukin Bank The boosted its stake in Essex Property Trust by 0.6% during the third quarter. Norinchukin Bank The now owns 6,957 shares of the real estate investment trust’s stock valued at $1,862,000 after buying an additional 44 shares during the period. Signaturefd LLC boosted its stake in Essex Property Trust by 11.3% during the fourth quarter. Signaturefd LLC now owns 445 shares of the real estate investment trust’s stock valued at $116,000 after buying an additional 45 shares during the period. Finally, Tokio Marine Asset Management Co. Ltd. grew its position in Essex Property Trust by 2.0% during the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 2,537 shares of the real estate investment trust’s stock worth $664,000 after buying an additional 50 shares in the last quarter. 96.51% of the stock is currently owned by hedge funds and other institutional investors.

Essex Property Trust Price Performance

Shares of Essex Property Trust stock opened at $295.38 on Monday. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.98 and a quick ratio of 0.98. The business’s 50 day simple moving average is $272.25 and its two-hundred day simple moving average is $260.01. The stock has a market capitalization of $18.98 billion, a P/E ratio of 33.19, a price-to-earnings-growth ratio of 12.72 and a beta of 0.72. Essex Property Trust, Inc. has a one year low of $238.46 and a one year high of $295.85.

Essex Property Trust (NYSE:ESS) last released its quarterly earnings data on Tuesday, April 28th. The real estate investment trust reported $1.65 earnings per share for the quarter, missing analysts’ consensus estimates 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 company had revenue of $484.76 million for the quarter, compared to analysts’ expectations of $479.89 million. During the same period last year, the company posted $3.97 EPS. Essex Property Trust has set its Q2 2026 guidance at 3.920-4.040 EPS. Analysts forecast that Essex Property Trust, Inc. will post 16.12 EPS for the current year.

Essex Property Trust Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th will be issued a $2.59 dividend. This represents a $10.36 dividend on an annualized basis and a yield of 3.5%. The ex-dividend date of this dividend is Tuesday, June 30th. Essex Property Trust’s dividend payout ratio (DPR) is 116.40%.

Wall Street Analyst Weigh In

ESS has been the topic of several recent analyst reports. Morgan Stanley raised their price target on Essex Property Trust from $293.00 to $302.00 and gave the company an “equal weight” rating in a report on Thursday. Jefferies Financial Group upgraded shares of Essex Property Trust to a “hold” rating in a research report on Friday. Raymond James Financial raised shares of Essex Property Trust from a “market perform” rating to an “outperform” rating and set a $320.00 target price on the stock in a research note on Friday. Royal Bank Of Canada lifted their target price on shares of Essex Property Trust from $282.00 to $288.00 and gave the company an “outperform” rating in a research report on Thursday, April 30th. Finally, Weiss Ratings raised shares of Essex Property Trust from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, June 12th. Nine investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $292.08.

Insider Transactions at Essex Property Trust

In other Essex Property Trust news, Director Mary Kasaris sold 600 shares of the business’s stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $279.45, for a total value of $167,670.00. Following the transaction, the director owned 2,394 shares in the company, valued at approximately $669,003.30. The trade was a 20.04% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.47% of the stock is currently owned by company insiders.

About Essex Property Trust

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.