Adelante Capital Management LLC Takes $19.83 Million Position in Essex Property Trust, Inc. $ESS

Key Points

• Adelante Capital Management acquired 67,992 shares of Essex Property Trust worth approximately $19.83 million, making ESS about 1.3% of its portfolio and its 23rd-largest holding.
• Institutional investors own 96.51% of ESS, while the stock recently traded at $288.09, with a 12-month range of $238.46 to $303.35.
• Essex reported quarterly EPS of $4.08, well above the $1.46 consensus estimate, and analysts maintain a “Moderate Buy” consensus with an average price target of $304.79.

Adelante Capital Management LLC bought a new stake in shares of Essex Property Trust, Inc. (NYSE:ESS - Free Report) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund bought 67,992 shares of the real estate investment trust's stock, valued at approximately $19,826,000. Essex Property Trust accounts for approximately 1.3% of Adelante Capital Management LLC's portfolio, making the stock its 23rd largest holding. Adelante Capital Management LLC owned 0.11% of Essex Property Trust at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of ESS. Dorsey & Whitney Trust CO LLC boosted its holdings in Essex Property Trust by 5.2% in the fourth quarter. Dorsey & Whitney Trust CO LLC now owns 814 shares of the real estate investment trust's stock worth $213,000 after acquiring an additional 40 shares in the last quarter. Norinchukin Bank The raised its holdings in Essex Property Trust by 0.6% during the third quarter. Norinchukin Bank The now owns 6,957 shares of the real estate investment trust's stock worth $1,862,000 after buying an additional 44 shares during the last quarter. Kestra Private Wealth Services LLC lifted its stake in shares of Essex Property Trust by 1.7% in the first quarter. Kestra Private Wealth Services LLC now owns 3,047 shares of the real estate investment trust's stock valued at $737,000 after buying an additional 50 shares in the last quarter. EverSource Wealth Advisors LLC grew its holdings in shares of Essex Property Trust by 31.2% during the first quarter. EverSource Wealth Advisors LLC now owns 265 shares of the real estate investment trust's stock valued at $64,000 after buying an additional 63 shares during the last quarter. Finally, Valeo Financial Advisors LLC grew its holdings in shares of Essex Property Trust by 3.7% during the fourth quarter. Valeo Financial Advisors LLC now owns 2,034 shares of the real estate investment trust's stock valued at $532,000 after buying an additional 72 shares during the last quarter. 96.51% of the stock is owned by institutional investors.

Essex Property Trust Stock Performance

ESS stock opened at $288.09 on Thursday. The firm has a market cap of $18.52 billion, a PE ratio of 44.80, a P/E/G ratio of 10.68 and a beta of 0.69. 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 business has a 50 day moving average of $289.47 and a 200-day moving average of $270.66. Essex Property Trust, Inc. has a 12-month low of $238.46 and a 12-month high of $303.35.

Essex Property Trust (NYSE:ESS - Get Free Report) last posted its quarterly earnings data on Wednesday, July 29th. The real estate investment trust reported $4.08 earnings per share for the quarter, topping the consensus estimate of $1.46 by $2.62. Essex Property Trust had a return on equity of 7.33% and a net margin of 21.48%.The business had revenue of $489.05 million for the quarter, compared to analysts' expectations of $485.12 million. During the same quarter in the previous year, the firm earned $4.03 earnings per share. 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. As a group, sell-side analysts expect that Essex Property Trust, Inc. will post 16.18 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages have commented on ESS. JPMorgan Chase & Co. boosted their price objective on Essex Property Trust from $275.00 to $295.00 and gave the stock an "underweight" rating in a report on Friday, August 14th. Morgan Stanley raised their target price on Essex Property Trust from $293.00 to $302.00 and gave the company an "equal weight" rating in a report on Thursday, June 25th. Wells Fargo & Company lifted their target price on Essex Property Trust from $280.00 to $297.00 and gave the company an "equal weight" rating in a research report on Wednesday, July 22nd. Weiss Ratings upgraded Essex Property Trust from a "hold (c)" rating to a "hold (c+)" rating in a report on Tuesday, August 18th. Finally, Raymond James Financial raised Essex Property Trust from a "market perform" rating to an "outperform" rating and set a $320.00 price target for the company in a research report on Friday, June 26th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $304.79.

About Essex Property Trust

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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