Carronade Capital Management LP Has $4.29 Million Stock Holdings in Essex Property Trust, Inc. $ESS

Carronade Capital Management LP reduced its position in shares of Essex Property Trust, Inc. (NYSE:ESS) by 21.3% in the 1st quarter, HoldingsChannel.com reports. The firm owned 17,705 shares of the real estate investment trust’s stock after selling 4,793 shares during the quarter. Essex Property Trust makes up about 0.1% of Carronade Capital Management LP’s portfolio, making the stock its 21st largest position. Carronade Capital Management LP’s holdings in Essex Property Trust were worth $4,285,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. Nemes Rush Group LLC acquired a new stake in shares of Essex Property Trust during the 4th quarter worth approximately $27,000. Generali Asset Management SPA SGR bought a new stake in shares of Essex Property Trust during the 4th quarter valued at $29,000. Cassaday & Co Wealth Management LLC bought a new stake in shares of Essex Property Trust during the 1st quarter valued at $38,000. Hantz Financial Services Inc. lifted its stake in shares of Essex Property Trust by 67.8% in the 4th quarter. Hantz Financial Services Inc. now owns 193 shares of the real estate investment trust’s stock valued at $51,000 after purchasing an additional 78 shares during the period. Finally, Advisory Services Network LLC bought a new position in shares of Essex Property Trust in the 3rd quarter worth $51,000. 96.51% of the stock is currently owned by institutional investors and hedge funds.

Essex Property Trust Stock Performance

ESS stock opened at $293.32 on Monday. The business’s 50-day moving average price is $285.41 and its two-hundred day moving average price is $265.03. 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 PE ratio of 32.96, a P/E/G ratio of 12.65 and a beta of 0.70. 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 posted its earnings results on Tuesday, April 28th. The real estate investment trust reported $1.65 earnings per share (EPS) 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 business had revenue of $484.76 million during the quarter, compared to analyst estimates of $479.89 million. During the same period in the previous year, the firm posted $3.97 earnings per share. Essex Property Trust has set its Q2 2026 guidance at 3.920-4.040 EPS. As a group, research 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 was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were given a $2.59 dividend. The ex-dividend date was Tuesday, June 30th. This represents a $10.36 annualized dividend and a dividend yield of 3.5%. Essex Property Trust’s payout ratio is currently 116.40%.

Insider Activity

In related news, Director Mary Kasaris sold 600 shares of the stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of $279.45, for a total transaction of $167,670.00. Following the completion of the sale, the director directly owned 2,394 shares of the company’s stock, valued at approximately $669,003.30. This represents a 20.04% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 3.47% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Barclays upped their price objective on Essex Property Trust from $277.00 to $296.00 and gave the company an “equal weight” rating in a report on Tuesday, July 14th. Stifel Nicolaus upped their price target on Essex Property Trust from $278.00 to $281.50 and gave the company a “hold” rating in a research note on Wednesday, April 29th. Royal Bank Of Canada increased their price target 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. Evercore reissued an “outperform” rating and set a $296.00 price objective on shares of Essex Property Trust in a research note on Monday, June 8th. Finally, Piper Sandler boosted their price objective on shares of Essex Property Trust from $310.00 to $352.00 and gave the company an “overweight” rating in a report on Tuesday, July 21st. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $299.08.

Essex Property Trust Company 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.