Hsbc Holdings PLC Buys 21,832 Shares of Essex Property Trust, Inc. $ESS

Key Points

• Hsbc Holdings PLC increased its stake in Essex Property Trust by 11.4% in the fourth quarter, buying 21,832 additional shares and bringing its total holding to 212,619 shares worth about $55.7 million.
• Essex Property Trust reported mixed results in its latest earnings, missing EPS expectations at $1.65 versus $3.96 expected, while revenue of $484.76 million slightly topped forecasts.
• The REIT announced a quarterly dividend of $2.59 per share, payable July 15, which annualizes to $10.36 per share for a 3.5% yield.

Hsbc Holdings PLC grew its position in shares of Essex Property Trust, Inc. (NYSE:ESS - Free Report) by 11.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 212,619 shares of the real estate investment trust's stock after buying an additional 21,832 shares during the quarter. Hsbc Holdings PLC owned 0.33% of Essex Property Trust worth $55,655,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Corient Private Wealth LLC grew its stake in shares of Essex Property Trust by 180.4% during the 4th quarter. Corient Private Wealth LLC now owns 9,838 shares of the real estate investment trust's stock valued at $2,575,000 after purchasing an additional 6,330 shares during the period. EJMK Ventures LLC bought a new position in shares of Essex Property Trust in the 4th quarter worth approximately $278,000. Tobam lifted its stake in shares of Essex Property Trust by 672.4% in the 4th quarter. Tobam now owns 2,433 shares of the real estate investment trust's stock worth $637,000 after purchasing an additional 2,118 shares during the period. Arwa LLC purchased a new position in shares of Essex Property Trust in the fourth quarter worth approximately $1,238,000. Finally, Kera Capital Partners Inc. boosted its holdings in shares of Essex Property Trust by 131.6% in the fourth quarter. Kera Capital Partners Inc. now owns 1,913 shares of the real estate investment trust's stock worth $482,000 after buying an additional 1,087 shares during the last quarter. 96.51% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Mary Kasaris sold 600 shares of Essex Property Trust stock in a transaction that occurred on Wednesday, May 27th. The stock was 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. This trade represents a 20.04% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 3.47% of the company's stock.

Essex Property Trust Stock Performance

Shares of NYSE ESS opened at $297.87 on Monday. The stock has a market cap of $19.14 billion, a PE ratio of 33.47, a price-to-earnings-growth ratio of 12.86 and a beta of 0.70. Essex Property Trust, Inc. has a 1 year low of $238.46 and a 1 year high of $299.29. The firm has a fifty day moving average price of $276.49 and a 200-day moving average price of $261.39. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.98 and a quick ratio of 0.98.

Essex Property Trust (NYSE:ESS - Get Free Report) last released 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 firm had revenue of $484.76 million for the quarter, compared to analysts' expectations 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 quarter last year, the firm posted $3.97 EPS. Essex Property Trust has set its Q2 2026 guidance at 3.920-4.040 EPS. Equities analysts anticipate that Essex Property Trust, Inc. will post 16.11 earnings per share for the current fiscal year.

Essex Property Trust Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th will be paid a $2.59 dividend. 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 3.5%. Essex Property Trust's dividend payout ratio is 116.40%.

Analysts Set New Price Targets

A number of brokerages have commented on ESS. Jefferies Financial Group raised shares of Essex Property Trust to a "hold" rating in a report on Friday, June 26th. Cantor Fitzgerald boosted their price objective on shares of Essex Property Trust from $290.00 to $291.00 and gave the company an "overweight" rating in a research report on Monday, May 4th. Wall Street Zen raised Essex Property Trust from a "sell" rating to a "hold" rating in a report on Saturday. Barclays boosted their price target on Essex Property Trust from $272.00 to $277.00 and gave the company an "equal weight" rating in a report on Monday, May 11th. Finally, Royal Bank Of Canada upped their price target on Essex Property Trust from $282.00 to $288.00 and gave the stock an "outperform" rating in a research report on Thursday, April 30th. Nine investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $292.08.

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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