100,000 Shares in Essex Property Trust, Inc. $ESS Purchased by Pacific Heights Asset Management LLC

Key Points

• Pacific Heights Asset Management acquired 100,000 Essex Property Trust shares worth approximately $29.2 million, representing about 0.16% of the company.
• Institutional investors own 96.51% of Essex Property Trust, with several firms increasing or initiating positions during the first and second quarters.
• Essex exceeded quarterly earnings expectations, reporting $4.08 EPS versus a $1.46 consensus estimate. Analysts maintain a “Moderate Buy” consensus with an average price target of $304.79.

Pacific Heights Asset Management LLC acquired a new stake in shares of Essex Property Trust, Inc. (NYSE:ESS - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 100,000 shares of the real estate investment trust's stock, valued at approximately $29,159,000. Pacific Heights Asset Management LLC owned about 0.16% of Essex Property Trust as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Woodline Partners LP purchased a new stake in shares of Essex Property Trust during the first quarter valued at approximately $1,664,000. Focus Partners Wealth purchased a new position in Essex Property Trust in the 1st quarter worth approximately $223,000. EverSource Wealth Advisors LLC raised its holdings in Essex Property Trust by 70.1% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 279 shares of the real estate investment trust's stock worth $79,000 after acquiring an additional 115 shares during the last quarter. First Trust Advisors LP lifted its position in Essex Property Trust by 186.2% in the 2nd quarter. First Trust Advisors LP now owns 33,614 shares of the real estate investment trust's stock valued at $9,526,000 after acquiring an additional 21,871 shares in the last quarter. Finally, Bank of Nova Scotia lifted its position in Essex Property Trust by 10.9% in the 2nd quarter. Bank of Nova Scotia now owns 8,274 shares of the real estate investment trust's stock valued at $2,345,000 after acquiring an additional 811 shares in the last quarter. 96.51% of the stock is currently owned by institutional investors.

Essex Property Trust Price Performance

Shares of NYSE:ESS opened at $280.86 on Friday. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 1.22. The stock has a market capitalization of $18.05 billion, a PE ratio of 43.68, a price-to-earnings-growth ratio of 10.54 and a beta of 0.69. The firm's 50 day moving average price is $289.61 and its 200-day moving average price is $270.82. Essex Property Trust, Inc. has a twelve month low of $238.46 and a twelve month high of $303.35.

Essex Property Trust (NYSE:ESS - Get Free Report) last announced its quarterly earnings data on Wednesday, July 29th. The real estate investment trust reported $4.08 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.46 by $2.62. The company had revenue of $489.05 million during the quarter, compared to the consensus estimate of $485.12 million. Essex Property Trust had a return on equity of 7.33% and a net margin of 21.48%.During the same period in the previous year, the company posted $4.03 EPS. Essex Property Trust has set its Q3 2026 guidance at 3.930-4.050 EPS and its FY 2026 guidance at 16.030-16.250 EPS. Equities research analysts expect that Essex Property Trust, Inc. will post 16.18 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts have commented on the company. Deutsche Bank Aktiengesellschaft set a $325.00 target price on Essex Property Trust in a research note on Tuesday, August 18th. Raymond James Financial raised Essex Property Trust from a "market perform" rating to an "outperform" rating and set a $320.00 price target on the stock in a report on Friday, June 26th. Truist Financial lifted their price objective on Essex Property Trust from $273.00 to $286.00 and gave the stock a "hold" rating in a report on Wednesday, May 27th. Jefferies Financial Group raised shares of Essex Property Trust to a "strong-buy" rating in a report on Wednesday, July 22nd. Finally, JPMorgan Chase & Co. lifted their price target on shares of Essex Property Trust from $275.00 to $295.00 and gave the stock an "underweight" rating in a research note on Friday, August 14th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $304.79.

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.

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