Massachusetts Financial Services Co. MA Sells 247,400 Shares of Essex Property Trust, Inc. $ESS

Massachusetts Financial Services Co. MA cut its holdings in shares of Essex Property Trust, Inc. (NYSE:ESS) by 19.9% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 994,140 shares of the real estate investment trust’s stock after selling 247,400 shares during the period. Massachusetts Financial Services Co. MA’s holdings in Essex Property Trust were worth $266,092,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Richardson Financial Services Inc. raised its position in shares of Essex Property Trust by 300.0% during the second quarter. Richardson Financial Services Inc. now owns 100 shares of the real estate investment trust’s stock worth $28,000 after purchasing an additional 75 shares during the period. Princeton Global Asset Management LLC bought a new stake in Essex Property Trust during the 2nd quarter worth approximately $34,000. Tobam raised its holdings in Essex Property Trust by 167.3% during the 2nd quarter. Tobam now owns 131 shares of the real estate investment trust’s stock worth $37,000 after buying an additional 82 shares during the period. Trust Co. of Toledo NA OH bought a new position in Essex Property Trust in the second quarter valued at approximately $44,000. Finally, CYBER HORNET ETFs LLC acquired a new position in shares of Essex Property Trust in the second quarter valued at approximately $48,000. 96.51% of the stock is currently owned by institutional investors.

Essex Property Trust Price Performance

NYSE:ESS opened at $258.07 on Tuesday. The firm has a fifty day simple moving average of $257.61 and a 200 day simple moving average of $263.44. Essex Property Trust, Inc. has a 1-year low of $243.25 and a 1-year high of $316.29. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 1.15. The stock has a market capitalization of $16.62 billion, a PE ratio of 19.61, a P/E/G ratio of 6.15 and a beta of 0.73.

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 analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $472.11 million. During the same period in the prior year, the company posted $3.91 EPS. 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. On average, research analysts expect that Essex Property Trust, Inc. will post 15.96 EPS for the current fiscal year.

Essex Property Trust Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, January 15th. Shareholders of record on Friday, January 2nd were issued a $2.57 dividend. This represents a $10.28 annualized dividend and a yield of 4.0%. The ex-dividend date of this dividend was Friday, January 2nd. Essex Property Trust’s dividend payout ratio (DPR) is currently 78.12%.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. BNP Paribas Exane lowered shares of Essex Property Trust from an “outperform” rating to a “neutral” rating in a report on Monday, September 29th. Wall Street Zen downgraded Essex Property Trust from a “hold” rating to a “sell” rating in a research note on Saturday, January 3rd. Barclays reaffirmed a “positive” rating and set a $292.00 price objective on shares of Essex Property Trust in a research report on Tuesday, January 13th. Cantor Fitzgerald reissued an “overweight” rating and issued a $290.00 target price on shares of Essex Property Trust in a research report on Monday, January 5th. Finally, Evercore ISI reduced their price target on Essex Property Trust from $279.00 to $271.00 and set a “cautious” rating for the company in a research report on Monday, November 3rd. Seven equities research analysts have rated the stock with a Buy rating and thirteen have issued a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $287.22.

Essex Property Trust Profile

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.