Bank of New York Mellon Corp Takes $135.84 Million Position in Essex Property Trust, Inc. $ESS

Key Points

• Bank of New York Mellon purchased 465,848 shares of Essex Property Trust worth approximately $135.84 million, giving it a 0.72% stake. Institutional investors collectively own 96.51% of the REIT.
• Essex reported quarterly EPS of $4.08, beating analyst estimates of $1.46, while revenue reached $489.05 million versus expectations of $485.12 million. Management guided for third-quarter 2026 EPS of $3.93–$4.05 and full-year EPS of $16.03–$16.25.
• ESS shares traded near $289.26, and analysts held a “Moderate Buy” consensus rating with an average price target of $304.79, despite mixed individual recommendations and a recent insider sale.

Bank of New York Mellon Corp purchased a new position in Essex Property Trust, Inc. (NYSE:ESS - Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 465,848 shares of the real estate investment trust's stock, valued at approximately $135,837,000. Bank of New York Mellon Corp owned 0.72% of Essex Property Trust as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Dorsey & Whitney Trust CO LLC boosted its stake in shares of Essex Property Trust by 5.2% in the 4th quarter. Dorsey & Whitney Trust CO LLC now owns 814 shares of the real estate investment trust's stock worth $213,000 after buying an additional 40 shares during the last quarter. Segment Wealth Management LLC increased its position in Essex Property Trust by 5.1% during the fourth quarter. Segment Wealth Management LLC now owns 913 shares of the real estate investment trust's stock valued at $239,000 after acquiring an additional 44 shares during the last quarter. Norinchukin Bank The lifted its holdings in Essex Property Trust by 0.6% in the third quarter. Norinchukin Bank The now owns 6,957 shares of the real estate investment trust's stock valued at $1,862,000 after acquiring an additional 44 shares during the period. Kestra Private Wealth Services LLC lifted its holdings in 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 acquiring an additional 50 shares during the period. Finally, EverSource Wealth Advisors LLC boosted its position in Essex Property Trust by 31.2% in the first quarter. EverSource Wealth Advisors LLC now owns 265 shares of the real estate investment trust's stock worth $64,000 after purchasing an additional 63 shares during the last quarter. 96.51% of the stock is owned by hedge funds and other institutional investors.

Essex Property Trust Trading Up 0.1%

Shares of NYSE:ESS opened at $289.26 on Monday. The stock has a 50 day moving average of $288.72 and a 200 day moving average of $269.80. The company has a market cap of $18.59 billion, a PE ratio of 44.99, a price-to-earnings-growth ratio of 10.57 and a beta of 0.69. Essex Property Trust, Inc. has a 12-month low of $238.46 and a 12-month high of $303.35. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 1.22.

Essex Property Trust (NYSE:ESS - Get Free Report) last released its earnings results on Wednesday, July 29th. The real estate investment trust reported $4.08 EPS for the quarter, topping analysts' consensus estimates of $1.46 by $2.62. Essex Property Trust had a net margin of 21.48% and a return on equity of 7.33%. The company had revenue of $489.05 million for the quarter, compared to analysts' expectations of $485.12 million. During the same quarter last year, the business earned $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. As a group, equities research analysts expect that Essex Property Trust, Inc. will post 16.18 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. Barclays boosted their price target on Essex Property Trust from $296.00 to $297.00 and gave the company an "equal weight" rating in a research note on Monday, August 17th. Weiss Ratings raised shares of Essex Property Trust from a "hold (c)" rating to a "hold (c+)" rating in a report on Tuesday, August 18th. Citizens Jmp upgraded shares of Essex Property Trust from a "market perform" rating to an "outperform" rating and set a $330.00 price target on the stock in a research report on Friday, July 31st. Wall Street Zen cut shares of Essex Property Trust from a "hold" rating to a "sell" rating in a research note on Saturday, August 1st. Finally, Scotiabank boosted their price objective on shares of Essex Property Trust from $290.00 to $307.00 and gave the company an "outperform" rating in a research report on Thursday, July 9th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $304.79.

Insider Activity at Essex Property Trust

In related news, Director Mary Kasaris sold 600 shares of Essex Property Trust stock in a transaction 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 transaction, the director owned 2,394 shares in the company, valued at approximately $669,003.30. The trade was a 20.04% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 3.47% of the stock is owned by 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.

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