Essex Property Trust, Inc. $ESS Shares Acquired by California State Teachers Retirement System

California State Teachers Retirement System lifted its holdings in shares of Essex Property Trust, Inc. (NYSE:ESS - Free Report) by 30,769.0% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 28,530,332 shares of the real estate investment trust's stock after acquiring an additional 28,437,908 shares during the period. California State Teachers Retirement System owned 44.39% of Essex Property Trust worth $8,319,160,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Wedmont Private Capital acquired a new stake in Essex Property Trust during the 2nd quarter worth $287,000. HB Wealth Management LLC purchased a new position in Essex Property Trust during the 2nd quarter worth $367,000. Saudi Central Bank increased its stake in Essex Property Trust by 89.9% in the second quarter. Saudi Central Bank now owns 4,513 shares of the real estate investment trust's stock valued at $1,316,000 after purchasing an additional 2,136 shares during the period. Syon Capital LLC increased its stake in Essex Property Trust by 47.3% in the second quarter. Syon Capital LLC now owns 4,316 shares of the real estate investment trust's stock valued at $1,259,000 after purchasing an additional 1,385 shares during the period. Finally, Concurrent Investment Advisors LLC raised its holdings in shares of Essex Property Trust by 26.1% in the second quarter. Concurrent Investment Advisors LLC now owns 1,372 shares of the real estate investment trust's stock valued at $400,000 after buying an additional 284 shares during the last quarter. 96.51% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. Morgan Stanley increased their target price on shares of Essex Property Trust from $293.00 to $302.00 and gave the stock an "equal weight" rating in a research note on Thursday, June 25th. JPMorgan Chase & Co. boosted their price target on Essex Property Trust from $275.00 to $295.00 and gave the company an "underweight" rating in a research report on Friday, August 14th. Wells Fargo & Company upped their price objective on Essex Property Trust from $280.00 to $297.00 and gave the company an "equal weight" rating in a research note on Wednesday, July 22nd. Deutsche Bank Aktiengesellschaft set a $325.00 price objective on Essex Property Trust in a research report on Tuesday, August 18th. Finally, Sanford C. Bernstein initiated coverage on Essex Property Trust in a research note on Friday, June 26th. They issued an "outperform" rating and a $320.00 target price on the stock. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Essex Property Trust currently has an average rating of "Hold" and an average price target of $304.14.

Essex Property Trust Stock Down 0.2%

Shares of Essex Property Trust stock opened at $277.92 on Wednesday. Essex Property Trust, Inc. has a one year low of $238.46 and a one year high of $303.35. The company has a market cap of $17.86 billion, a P/E ratio of 43.22, a PEG ratio of 10.19 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. The firm has a fifty day moving average of $288.76 and a two-hundred day moving average of $272.18.

Essex Property Trust (NYSE:ESS - Get Free Report) last issued its 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 net margin of 21.48% and a return on equity of 7.33%. The business had revenue of $489.05 million for the quarter, compared to the consensus estimate of $485.12 million. During the same quarter in the previous year, the firm earned $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. On average, analysts forecast that Essex Property Trust, Inc. will post 16.18 earnings per share for the current year.

Essex Property Trust Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th will be issued a $2.59 dividend. This represents a $10.36 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date of this dividend is Wednesday, September 30th. Essex Property Trust's payout ratio is currently 161.12%.

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.