Geode Capital Management LLC Purchases 22,835 Shares of Essex Property Trust, Inc. $ESS

Key Points

• Geode Capital Management boosted its stake in Essex Property Trust by 1.2% in the fourth quarter, buying 22,835 more shares and bringing its total holding to 1,873,698 shares worth about $488.6 million.
• Essex Property Trust reported first-quarter earnings of $1.65 per share, missing analyst expectations, though revenue came in slightly above estimates. The company also guided Q2 2026 EPS at 3.920–4.040.
• The REIT announced a quarterly dividend of $2.59 per share payable July 15, implying an annualized yield of 3.8%, while analysts currently rate the stock a consensus Hold with an average price target of $284.50.

Geode Capital Management LLC increased its position in shares of Essex Property Trust, Inc. (NYSE:ESS - Free Report) by 1.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,873,698 shares of the real estate investment trust's stock after acquiring an additional 22,835 shares during the period. Geode Capital Management LLC owned approximately 2.91% of Essex Property Trust worth $488,601,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Generali Asset Management SPA SGR bought a new stake in shares of Essex Property Trust during the 4th quarter worth $29,000. Hantz Financial Services Inc. grew its holdings in shares of Essex Property Trust by 57.5% during 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 during the last quarter. True Wealth Design LLC grew its holdings in shares of Essex Property Trust by 120.0% during 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 during the last quarter. MUFG Securities EMEA plc bought a new position in shares of Essex Property Trust during the 2nd quarter valued at $54,000. Finally, Advisory Services Network LLC bought a new position in shares of Essex Property Trust during the 3rd quarter valued at $51,000. 96.51% of the stock is owned by institutional investors.

Insider Buying and Selling at Essex Property Trust

In related news, Director Mary Kasaris sold 600 shares of Essex Property Trust stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $279.45, for a total transaction of $167,670.00. Following the completion of the transaction, the director directly owned 2,394 shares of the company's stock, valued at $669,003.30. This trade represents a 20.04% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 3.47% of the company's stock.

Essex Property Trust Trading Up 0.1%

Shares of ESS opened at $272.90 on Monday. The firm's 50-day moving average price is $258.26 and its 200-day moving average price is $256.74. The firm has a market capitalization of $17.54 billion, a price-to-earnings ratio of 30.66, a PEG ratio of 11.78 and a beta of 0.72. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 1.22. Essex Property Trust, Inc. has a 1-year low of $238.46 and a 1-year high of $294.09.

Essex Property Trust (NYSE:ESS - Get Free Report) last announced its earnings results on Tuesday, April 28th. The real estate investment trust reported $1.65 earnings per share for the quarter, missing analysts' consensus estimates of $3.96 by ($2.31). The company had revenue of $484.76 million for the quarter, compared to the consensus estimate of $479.89 million. Essex Property Trust had a net margin of 30.03% and a return on equity of 10.00%. During the same period in the previous year, the firm posted $3.97 EPS. Essex Property Trust has set its Q2 2026 guidance at 3.920-4.040 EPS. Sell-side analysts anticipate that Essex Property Trust, Inc. will post 16.08 EPS for the current year.

Essex Property Trust Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th will be paid a dividend of $2.59 per share. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $10.36 dividend on an annualized basis and a dividend yield of 3.8%. Essex Property Trust's payout ratio is presently 116.40%.

Analysts Set New Price Targets

Several equities analysts recently commented on ESS shares. Robert W. Baird increased their target price 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. Barclays increased their price target on shares of Essex Property Trust from $272.00 to $277.00 and gave the company an "equal weight" rating in a research report on Monday, May 11th. Wall Street Zen raised shares of Essex Property Trust from a "strong sell" rating to a "sell" rating in a research report on Saturday, April 11th. Wells Fargo & Company dropped their price target on shares of Essex Property Trust from $268.00 to $262.00 and set an "equal weight" rating for the company in a research report on Thursday, April 23rd. Finally, Weiss Ratings raised shares of Essex Property Trust from a "hold (c)" rating to a "hold (c+)" rating in a research report on Monday, May 4th. Five research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Essex Property Trust has an average rating of "Hold" and an average price target of $284.50.

Essex Property Trust 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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