Beacon Pointe Advisors LLC Acquires New Holdings in Essex Property Trust, Inc. $ESS

Key Points

• Beacon Pointe Advisors acquired 4,062 shares of Essex Property Trust in the second quarter, valued at approximately $1.18 million. Institutional investors collectively own 96.51% of the REIT’s stock, with BlackRock, Legal & General, and Norges Bank among other major holders.
• Analysts maintain a generally positive outlook, with an average rating of “Moderate Buy” and an average price target of $304.79. Recent targets range from $307 to $325, while several firms assigned “outperform” ratings.
• Essex shares opened at $284.49, compared with a 12-month range of $238.46 to $303.35. The company recently exceeded quarterly EPS expectations, reporting $4.08 versus the $1.46 consensus estimate, and posted revenue of $489.05 million.

Beacon Pointe Advisors LLC acquired a new position in Essex Property Trust, Inc. (NYSE:ESS - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 4,062 shares of the real estate investment trust's stock, valued at approximately $1,184,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. BlackRock Inc. bought a new stake in shares of Essex Property Trust during the 2nd quarter worth about $2,166,555,000. Legal & General Group Plc bought a new position in shares of Essex Property Trust in the second quarter valued at approximately $260,252,000. Norges Bank acquired a new position in shares of Essex Property Trust during the fourth quarter valued at approximately $230,690,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of Essex Property Trust by 973.0% during the third quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 743,954 shares of the real estate investment trust's stock valued at $199,127,000 after acquiring an additional 674,617 shares during the period. Finally, Bank of New York Mellon Corp acquired a new position in shares of Essex Property Trust during the second quarter valued at approximately $135,837,000. Institutional investors own 96.51% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on ESS shares. Deutsche Bank Aktiengesellschaft set a $325.00 target price on Essex Property Trust in a research report on Tuesday, August 18th. Scotiabank lifted their price target on Essex Property Trust from $290.00 to $307.00 and gave the company an "outperform" rating in a research report on Thursday, July 9th. Sanford C. Bernstein started coverage on Essex Property Trust in a research note on Friday, June 26th. They issued an "outperform" rating and a $320.00 price objective on the stock. Raymond James Financial upgraded Essex Property Trust from a "market perform" rating to an "outperform" rating and set a $320.00 price objective for the company in a report on Friday, June 26th. Finally, Mizuho lifted their target price on Essex Property Trust from $285.00 to $308.00 and gave the stock an "outperform" rating in a report on Wednesday, June 10th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $304.79.

Essex Property Trust Stock Up 0.2%

ESS stock opened at $284.49 on Monday. The firm has a market cap of $18.28 billion, a PE ratio of 44.24, a P/E/G ratio of 10.39 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 debt-to-equity ratio of 1.22, a current ratio of 0.60 and a quick ratio of 0.60. The firm has a 50 day simple moving average of $289.82 and a 200 day simple moving average of $271.01.

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

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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