Sumitomo Mitsui Trust Group Inc. Sells 5,912 Shares of Essex Property Trust, Inc. $ESS

Sumitomo Mitsui Trust Group Inc. lowered its holdings in Essex Property Trust, Inc. (NYSE:ESS) by 2.6% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 223,756 shares of the real estate investment trust’s stock after selling 5,912 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Essex Property Trust were worth $54,149,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Nemes Rush Group LLC purchased a new stake in Essex Property Trust in the fourth quarter worth $27,000. Generali Asset Management SPA SGR purchased a new position in Essex Property Trust during the 4th quarter valued at $29,000. True Wealth Design LLC increased its position in Essex Property Trust by 120.0% during the 4th quarter. True Wealth Design LLC now owns 176 shares of the real estate investment trust’s stock valued at $46,000 after purchasing an additional 96 shares during the period. MUFG Securities EMEA plc purchased a new position in Essex Property Trust during the 2nd quarter valued at $54,000. Finally, Advisory Services Network LLC bought a new position in Essex Property Trust in the 3rd quarter worth $51,000. Hedge funds and other institutional investors own 96.51% of the company’s stock.

Essex Property Trust Stock Up 0.8%

Essex Property Trust stock traded up $2.21 on Friday, hitting $293.33. 464,205 shares of the stock traded hands, compared to its average volume of 439,403. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 1.22. The firm has a market cap of $18.85 billion, a P/E ratio of 32.96, a price-to-earnings-growth ratio of 12.66 and a beta of 0.70. The business’s fifty day simple moving average is $279.91 and its 200 day simple moving average is $262.61. Essex Property Trust, Inc. has a 1 year low of $238.46 and a 1 year high of $303.35.

Essex Property Trust (NYSE:ESS) last announced its earnings results on Tuesday, April 28th. The real estate investment trust reported $1.65 EPS for the quarter, missing analysts’ consensus estimates of $3.96 by ($2.31). The business had revenue of $484.76 million for the quarter, compared to the consensus estimate of $479.89 million. Essex Property Trust had a net margin of 30.03% and a return on equity of 10.00%. During the same quarter last year, the firm posted $3.97 EPS. Essex Property Trust has set its Q2 2026 guidance at 3.920-4.040 EPS. As a group, sell-side analysts forecast that Essex Property Trust, Inc. will post 16.11 earnings per share for the current year.

Essex Property Trust Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th will be paid a dividend of $2.59 per share. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $10.36 annualized dividend and a yield of 3.5%. Essex Property Trust’s payout ratio is presently 116.40%.

Insider Buying and Selling

In other Essex Property Trust news, Director Mary Kasaris sold 600 shares of the company’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 sale, the director owned 2,394 shares in the company, valued at approximately $669,003.30. This represents a 20.04% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 3.47% of the stock is owned by insiders.

Wall Street Analyst Weigh In

ESS has been the subject of several research analyst reports. JPMorgan Chase & Co. raised their target price on shares of Essex Property Trust from $272.00 to $275.00 and gave the stock an “underweight” rating in a research report on Monday, May 18th. Evercore reiterated an “outperform” rating and set a $296.00 price target on shares of Essex Property Trust in a research report on Monday, June 8th. UBS Group set a $290.00 price target on shares of Essex Property Trust in a research note on Thursday, June 18th. Weiss Ratings upgraded shares of Essex Property Trust from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, June 12th. Finally, Barclays lifted their price objective on Essex Property Trust from $272.00 to $277.00 and gave the company an “equal weight” rating in a research report on Monday, May 11th. Nine equities research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $293.03.

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.