Commerce Bank Takes Position in Essex Property Trust, Inc. $ESS

Key Points

• Commerce Bank purchased 5,532 shares of Essex Property Trust during the second quarter, valued at approximately $1.6 million. Institutional investors collectively own 96.51% of the REIT.
• Essex reported quarterly revenue of $489.05 million and earnings of $4.08 per share, exceeding analysts’ expectations. Management guided for third-quarter 2026 EPS of $3.93–$4.05 and full-year EPS of $16.03–$16.25.
• Analyst sentiment remains broadly positive, with a “Moderate Buy” consensus and an average price target of $304.79, compared with the stock’s reported opening price of $292.

Commerce Bank purchased a new position in shares of Essex Property Trust, Inc. (NYSE:ESS - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 5,532 shares of the real estate investment trust's stock, valued at approximately $1,613,000.

A number of other hedge funds also recently modified their holdings of ESS. Northwestern Mutual Wealth Management Co. purchased a new position in Essex Property Trust in the second quarter valued at approximately $114,000. Evolve Private Wealth LLC purchased a new stake in Essex Property Trust in the second quarter worth $213,000. Westpac Banking Corp purchased a new stake in Essex Property Trust in the second quarter worth $4,637,000. Landscape Capital Management L.L.C. bought a new stake in shares of Essex Property Trust in the second quarter valued at $1,186,000. Finally, Korea Investment CORP bought a new stake in shares of Essex Property Trust in the second quarter valued at $1,900,000. Institutional investors own 96.51% of the company's stock.

Essex Property Trust Stock Performance

NYSE:ESS opened at $292.00 on Wednesday. The business's fifty day moving average is $289.20 and its 200 day moving average is $270.40. The firm has a market cap of $18.77 billion, a price-to-earnings ratio of 45.41, a PEG ratio of 10.74 and a beta of 0.69. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.60 and a current ratio of 0.60. Essex Property Trust, Inc. has a 52-week low of $238.46 and a 52-week high of $303.35.

Essex Property Trust (NYSE:ESS - Get Free Report) last announced its quarterly earnings results on Wednesday, July 29th. The real estate investment trust reported $4.08 earnings per share for the quarter, beating 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 firm had revenue of $489.05 million for the quarter, compared to analysts' expectations of $485.12 million. During the same period in the prior 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. Research analysts predict that Essex Property Trust, Inc. will post 16.18 EPS for the current year.

Analyst Ratings Changes

A number of research analysts have recently commented on ESS shares. Barclays upped their price target on Essex Property Trust from $296.00 to $297.00 and gave the company an "equal weight" rating in a research report on Monday, August 17th. Wall Street Zen cut Essex Property Trust from a "hold" rating to a "sell" rating in a research note on Saturday, August 1st. Jefferies Financial Group raised shares of Essex Property Trust to a "strong-buy" rating in a report on Wednesday, July 22nd. Mizuho increased their target price on shares of Essex Property Trust from $285.00 to $308.00 and gave the stock an "outperform" rating in a research report on Wednesday, June 10th. Finally, Cantor Fitzgerald increased their target price on shares of Essex Property Trust from $291.00 to $316.00 and gave the stock an "overweight" rating in a research report on Monday, August 3rd. One equities 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 given a Sell rating to the company. Based on data from MarketBeat, Essex Property Trust has an average rating of "Moderate Buy" and an average price target of $304.79.

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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