Pacific Heights Asset Management LLC Purchases 25,000 Shares of Essex Property Trust, Inc. $ESS

Pacific Heights Asset Management LLC grew its position in Essex Property Trust, Inc. (NYSE:ESS) by 41.7% in the third quarter, HoldingsChannel.com reports. The fund owned 85,000 shares of the real estate investment trust’s stock after buying an additional 25,000 shares during the quarter. Essex Property Trust comprises 1.0% of Pacific Heights Asset Management LLC’s portfolio, making the stock its 27th biggest position. Pacific Heights Asset Management LLC’s holdings in Essex Property Trust were worth $22,751,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of the business. Woodline Partners LP acquired a new stake in Essex Property Trust during the 1st quarter valued at $1,664,000. Focus Partners Wealth bought a new stake in shares of Essex Property Trust during the first quarter worth $223,000. Swedbank AB grew its holdings in shares of Essex Property Trust by 5.7% during the second quarter. Swedbank AB now owns 15,790 shares of the real estate investment trust’s stock worth $4,475,000 after purchasing an additional 851 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in shares of Essex Property Trust by 4.5% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 10,546 shares of the real estate investment trust’s stock valued at $2,997,000 after buying an additional 454 shares during the last quarter. Finally, Park Avenue Securities LLC bought a new position in shares of Essex Property Trust in the second quarter valued at about $498,000. 96.51% of the stock is owned by institutional investors and hedge funds.

Essex Property Trust Stock Up 1.8%

Shares of Essex Property Trust stock opened at $258.07 on Tuesday. The business has a fifty day simple moving average of $257.61 and a 200 day simple moving average of $263.44. The stock has a market cap of $16.62 billion, a PE ratio of 19.61, a price-to-earnings-growth ratio of 6.15 and a beta of 0.73. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 1.15. Essex Property Trust, Inc. has a 12 month low of $243.25 and a 12 month high of $316.29.

Essex Property Trust (NYSE:ESS) last released its earnings results on Wednesday, October 29th. The real estate investment trust reported $3.97 earnings per share for the quarter, beating the consensus estimate of $3.96 by $0.01. Essex Property Trust had a return on equity of 14.68% and a net margin of 45.46%.The firm had revenue of $473.30 million for the quarter, compared to analyst estimates of $472.11 million. During the same quarter in the prior year, the firm posted $3.91 earnings per share. Essex Property Trust has set its Q4 2025 guidance at 3.930-4.030 EPS and its FY 2025 guidance at 15.890-15.990 EPS. Research analysts predict that Essex Property Trust, Inc. will post 15.96 EPS for the current year.

Essex Property Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 15th. Investors of record on Friday, January 2nd were issued a dividend of $2.57 per share. The ex-dividend date was Friday, January 2nd. This represents a $10.28 dividend on an annualized basis and a yield of 4.0%. Essex Property Trust’s payout ratio is currently 78.12%.

Analysts Set New Price Targets

Several research firms have weighed in on ESS. BMO Capital Markets cut shares of Essex Property Trust from an “outperform” rating to a “market perform” rating and lowered their price objective for the company from $305.00 to $280.00 in a research report on Friday, January 9th. Mizuho boosted their price objective on shares of Essex Property Trust from $275.00 to $284.00 and gave the stock an “outperform” rating in a research report on Monday, November 24th. UBS Group upped their price objective on Essex Property Trust from $267.00 to $274.00 and gave the stock a “neutral” rating in a report on Thursday, January 8th. Scotiabank decreased their price target on Essex Property Trust from $294.00 to $284.00 and set a “sector outperform” rating on the stock in a report on Tuesday, November 4th. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $290.00 price objective on shares of Essex Property Trust in a report on Monday, January 5th. Seven investment analysts have rated the stock with a Buy rating and thirteen have given a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $287.22.

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.