BNP Paribas Financial Markets Acquires 36,293 Shares of Essex Property Trust, Inc. $ESS

Key Points

• BNP Paribas Financial Markets increased its stake in Essex Property Trust by 29.3% in the fourth quarter, buying 36,293 additional shares and bringing its total holding to 160,122 shares worth about $41.9 million.
• Several analysts have recently adjusted their views on ESS, with price targets mostly raised; the stock currently has a consensus rating of Hold and an average target price of $286.97.
• Essex Property Trust reported Q1 earnings below expectations at $1.65 per share versus $3.96 expected, but it also announced a quarterly dividend of $2.59 per share, implying a 3.7% yield.

BNP Paribas Financial Markets grew its holdings in Essex Property Trust, Inc. (NYSE:ESS - Free Report) by 29.3% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 160,122 shares of the real estate investment trust's stock after purchasing an additional 36,293 shares during the quarter. BNP Paribas Financial Markets owned approximately 0.25% of Essex Property Trust worth $41,901,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Generali Asset Management SPA SGR bought a new stake in shares of Essex Property Trust in the 4th quarter valued at about $29,000. Hantz Financial Services Inc. raised its holdings in shares of Essex Property Trust by 57.5% in the 3rd quarter. Hantz Financial Services Inc. now owns 115 shares of the real estate investment trust's stock valued at $31,000 after purchasing an additional 42 shares in the last quarter. True Wealth Design LLC raised its holdings in shares of Essex Property Trust by 120.0% in the 4th quarter. True Wealth Design LLC now owns 176 shares of the real estate investment trust's stock valued at $46,000 after purchasing an additional 96 shares in the last quarter. Advisory Services Network LLC bought a new stake in shares of Essex Property Trust in the 3rd quarter valued at about $51,000. Finally, MUFG Securities EMEA plc bought a new stake in shares of Essex Property Trust in the 2nd quarter valued at about $54,000. Institutional investors own 96.51% of the company's stock.

Analysts Set New Price Targets

Several research firms have recently commented on ESS. Truist Financial boosted their price target on shares of Essex Property Trust from $273.00 to $286.00 and gave the company a "hold" rating in a report on Wednesday, May 27th. Robert W. Baird boosted their price target on shares of Essex Property Trust from $279.00 to $281.00 and gave the company a "neutral" rating in a report on Monday, March 2nd. Piper Sandler upgraded shares of Essex Property Trust from a "neutral" rating to an "overweight" rating and boosted their price target for the company from $275.00 to $310.00 in a report on Monday, May 4th. Cantor Fitzgerald boosted their price target on shares of Essex Property Trust from $290.00 to $291.00 and gave the company an "overweight" rating in a report on Monday, May 4th. Finally, Stifel Nicolaus boosted their price objective on shares of Essex Property Trust from $278.00 to $281.50 and gave the stock a "hold" rating in a research note on Wednesday, April 29th. Six equities research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, Essex Property Trust presently has an average rating of "Hold" and a consensus target price of $286.97.

Insider Activity at Essex Property Trust

In other Essex Property Trust news, Director Mary Kasaris sold 600 shares of the business'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 sale, the director owned 2,394 shares of the company's stock, valued at approximately $669,003.30. The trade was a 20.04% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 3.47% of the stock is currently owned by company insiders.

Essex Property Trust Trading Up 0.3%

NYSE ESS opened at $278.33 on Thursday. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 1.22. The firm has a market cap of $17.89 billion, a PE ratio of 31.27, a price-to-earnings-growth ratio of 11.99 and a beta of 0.72. The company has a 50 day moving average price of $260.33 and a 200 day moving average price of $257.19. Essex Property Trust, Inc. has a 52 week low of $238.46 and a 52 week high of $294.09.

Essex Property Trust (NYSE:ESS - Get Free Report) last posted its quarterly earnings data on Tuesday, April 28th. The real estate investment trust reported $1.65 EPS for the quarter, missing the consensus estimate of $3.96 by ($2.31). The firm had revenue of $484.76 million for the quarter, compared to the consensus estimate of $479.89 million. Essex Property Trust had a return on equity of 10.00% and a net margin of 30.03%.During the same quarter last year, the firm earned $3.97 EPS. Essex Property Trust has set its Q2 2026 guidance at 3.920-4.040 EPS. As a group, sell-side analysts forecast that Essex Property Trust, Inc. will post 16.08 EPS for the current fiscal year.

Essex Property Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Investors 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 3.7%. The ex-dividend date is Tuesday, June 30th. Essex Property Trust's payout ratio is 116.40%.

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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