MetLife Investment Management LLC Sells 369 Shares of Essex Property Trust, Inc. $ESS

by · The Markets Daily

MetLife Investment Management LLC cut its stake in Essex Property Trust, Inc. (NYSE:ESS – Free Report) by 2.0% in the first quarter, Holdings Channel.com reports. The firm owned 18,520 shares of the real estate investment trust’s stock after selling 369 shares during the period. MetLife Investment Management LLC’s holdings in Essex Property Trust were worth $5,678,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently bought and sold shares of the company. Zions Bancorporation National Association UT bought a new stake in Essex Property Trust in the 1st quarter valued at $34,000. GKV Capital Management Co. Inc. bought a new position in shares of Essex Property Trust during the 1st quarter worth about $35,000. Capital Analysts LLC lifted its holdings in shares of Essex Property Trust by 56.3% during the 1st quarter. Capital Analysts LLC now owns 136 shares of the real estate investment trust’s stock worth $42,000 after acquiring an additional 49 shares during the period. Brooklyn Investment Group lifted its holdings in shares of Essex Property Trust by 34.8% during the 1st quarter. Brooklyn Investment Group now owns 190 shares of the real estate investment trust’s stock worth $58,000 after acquiring an additional 49 shares during the period. Finally, Ameriflex Group Inc. bought a new position in shares of Essex Property Trust during the 4th quarter worth about $59,000. 96.51% of the stock is owned by institutional investors.

Essex Property Trust Trading Up 0.1%

Shares of ESS stock opened at $267.90 on Friday. Essex Property Trust, Inc. has a 12-month low of $243.85 and a 12-month high of $317.73. The company has a market capitalization of $17.25 billion, a P/E ratio of 21.54, a P/E/G ratio of 6.88 and a beta of 0.80. The firm has a 50-day moving average price of $274.59 and a 200 day moving average price of $282.64. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 1.16.

Essex Property Trust (NYSE:ESS – Get Free Report) last announced its quarterly earnings results on Tuesday, July 29th. The real estate investment trust reported $4.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.99 by $0.04. Essex Property Trust had a net margin of 43.51% and a return on equity of 13.98%. The firm had revenue of $465.84 million during the quarter, compared to the consensus estimate of $466.47 million. During the same period last year, the firm posted $3.94 EPS. Essex Property Trust has set its Q3 2025 guidance at 3.890-3.990 EPS. FY 2025 guidance at 15.800-16.020 EPS. Research analysts forecast that Essex Property Trust, Inc. will post 15.96 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms have recently commented on ESS. Piper Sandler downgraded shares of Essex Property Trust from an “overweight” rating to a “neutral” rating and reduced their price objective for the stock from $355.00 to $275.00 in a report on Monday, August 4th. Mizuho reduced their price objective on shares of Essex Property Trust from $314.00 to $293.00 and set an “outperform” rating for the company in a report on Friday, May 23rd. Morgan Stanley reduced their price objective on shares of Essex Property Trust from $304.00 to $285.00 and set an “equal weight” rating for the company in a report on Wednesday, August 13th. Evercore ISI reduced their price objective on shares of Essex Property Trust from $285.00 to $279.00 and set an “in-line” rating for the company in a report on Tuesday, August 12th. Finally, Royal Bank Of Canada raised their price objective on shares of Essex Property Trust from $306.00 to $307.00 and gave the stock an “outperform” rating in a report on Thursday, July 31st. Seven research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Essex Property Trust currently has an average rating of “Hold” and a consensus price target of $301.42.

Check Out Our Latest Stock Report on Essex Property Trust

Essex Property Trust Company Profile

(Free Report)

Essex Property Trust, Inc, an S&P 500 company, is a fully integrated real estate investment trust (REIT) that acquires, develops, redevelops, and manages multifamily residential properties in selected West Coast markets. Essex currently has ownership interests in 252 apartment communities comprising approximately 62,000 apartment homes with an additional property in active development.

See Also

Want to see what other hedge funds are holding ESS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Essex Property Trust, Inc. (NYSE:ESS – Free Report).