Bank of New York Mellon Corp Has $122.31 Million Stock Holdings in Essex Property Trust, Inc. $ESS

Bank of New York Mellon Corp grew its position in Essex Property Trust, Inc. (NYSE:ESS - Free Report) by 9.0% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 467,394 shares of the real estate investment trust's stock after purchasing an additional 38,528 shares during the period. Bank of New York Mellon Corp owned about 0.73% of Essex Property Trust worth $122,308,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Generali Asset Management SPA SGR acquired a new position in Essex Property Trust during the 4th quarter worth about $29,000. Hantz Financial Services Inc. lifted its position in Essex Property Trust by 57.5% during the 3rd quarter. Hantz Financial Services Inc. now owns 115 shares of the real estate investment trust's stock worth $31,000 after buying an additional 42 shares in the last quarter. True Wealth Design LLC lifted 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 worth $46,000 after buying an additional 96 shares in the last quarter. Advisory Services Network LLC acquired a new position in Essex Property Trust during the 3rd quarter worth about $51,000. Finally, MUFG Securities EMEA plc acquired a new position in Essex Property Trust during the 2nd quarter worth about $54,000. Institutional investors and hedge funds own 96.51% of the company's stock.

Analyst Ratings Changes

Several research analysts recently issued reports on ESS shares. Evercore upgraded shares of Essex Property Trust from a "cautious" rating to an "outperform" rating and set a $295.00 price target on the stock in a research report on Monday, June 1st. Piper Sandler upgraded shares of Essex Property Trust from a "neutral" rating to an "overweight" rating and upped their price target for the stock from $275.00 to $310.00 in a research report on Monday, May 4th. Robert W. Baird upped their price target on shares of Essex Property Trust from $279.00 to $281.00 and gave the stock a "neutral" rating in a research report on Monday, March 2nd. Barclays upped their price target on shares of Essex Property Trust from $272.00 to $277.00 and gave the stock an "equal weight" rating in a research report on Monday, May 11th. Finally, UBS Group boosted their price objective on Essex Property Trust from $274.00 to $278.00 and gave the stock a "neutral" rating in a report on Thursday, May 14th. Six analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, Essex Property Trust presently has a consensus rating of "Hold" and a consensus price target of $286.97.

Essex Property Trust Price Performance

NYSE ESS opened at $285.78 on Friday. The business has a 50 day simple moving average of $262.02 and a 200 day simple moving average of $257.60. Essex Property Trust, Inc. has a 52-week low of $238.46 and a 52-week high of $294.09. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.98 and a current ratio of 0.98. The stock has a market cap of $18.36 billion, a price-to-earnings ratio of 32.11, a PEG ratio of 12.33 and a beta of 0.72.

Essex Property Trust (NYSE:ESS - Get Free Report) 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 return on equity of 10.00% and a net margin of 30.03%.The business had revenue of $484.76 million for the quarter, compared to the consensus estimate of $479.89 million. During the same period in the previous year, the company posted $3.97 earnings per share. Essex Property Trust has set its Q2 2026 guidance at 3.920-4.040 EPS. Analysts anticipate that Essex Property Trust, Inc. will post 16.08 earnings per share for the current fiscal year.

Essex Property Trust Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th will be paid a dividend of $2.59 per share. This represents a $10.36 annualized dividend and a dividend yield of 3.6%. The ex-dividend date of this dividend is Tuesday, June 30th. Essex Property Trust's dividend payout ratio (DPR) is currently 116.40%.

Insider Buying and Selling at Essex Property Trust

In other news, Director Mary Kasaris sold 600 shares of the firm's stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $279.45, for a total transaction of $167,670.00. Following the completion of the transaction, the director directly owned 2,394 shares of the company's stock, valued at $669,003.30. This trade represents a 20.04% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 3.47% of the stock is owned by corporate insiders.

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.

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).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.