Legal & General Group Plc Buys Shares of 892,526 Essex Property Trust, Inc. $ESS

Key Points

• Legal & General Group purchased 892,526 shares of Essex Property Trust valued at approximately $260.3 million, giving it a 1.39% stake. Institutional investors collectively own 96.51% of the REIT.
• Essex reported quarterly earnings of $4.08 per share, surpassing the $1.46 analyst consensus, while revenue reached $489.05 million versus expectations of $485.12 million. The company issued third-quarter 2026 EPS guidance of $3.93–$4.05.
• Analysts maintain a generally positive view, with a consensus rating of “Moderate Buy” and an average price target of $304.79, compared with the stock’s recent price of $288.09.

Legal & General Group Plc bought a new position in shares of Essex Property Trust, Inc. (NYSE:ESS - Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 892,526 shares of the real estate investment trust's stock, valued at approximately $260,252,000. Legal & General Group Plc owned 1.39% of Essex Property Trust as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently modified their holdings of the company. Woodline Partners LP acquired a new stake in Essex Property Trust during the first quarter worth about $1,664,000. Focus Partners Wealth acquired a new position in Essex Property Trust in the first quarter valued at approximately $223,000. EverSource Wealth Advisors LLC boosted its stake in Essex Property Trust by 70.1% in the second quarter. EverSource Wealth Advisors LLC now owns 279 shares of the real estate investment trust's stock valued at $79,000 after acquiring an additional 115 shares during the period. First Trust Advisors LP grew its holdings in shares of Essex Property Trust by 186.2% during the second quarter. First Trust Advisors LP now owns 33,614 shares of the real estate investment trust's stock valued at $9,526,000 after purchasing an additional 21,871 shares during the last quarter. Finally, Bank of Nova Scotia grew its holdings in shares of Essex Property Trust by 10.9% during the second quarter. Bank of Nova Scotia now owns 8,274 shares of the real estate investment trust's stock valued at $2,345,000 after purchasing an additional 811 shares during the last quarter. 96.51% of the stock is currently owned by institutional investors.

Essex Property Trust Trading Down 1.3%

NYSE:ESS opened at $288.09 on Thursday. The stock has a market cap of $18.52 billion, a price-to-earnings ratio of 44.80, a PEG ratio of 10.68 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 1 year low of $238.46 and a 1 year high of $303.35. The business has a fifty day moving average of $289.47 and a 200-day moving average of $270.66.

Essex Property Trust (NYSE:ESS - Get Free Report) last issued its quarterly earnings data on Wednesday, July 29th. The real estate investment trust reported $4.08 earnings per share for the quarter, beating analysts' consensus estimates of $1.46 by $2.62. The business had revenue of $489.05 million for the quarter, compared to analysts' expectations of $485.12 million. Essex Property Trust had a net margin of 21.48% and a return on equity of 7.33%. During the same period in the previous year, the business 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. Equities analysts predict that Essex Property Trust, Inc. will post 16.18 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. UBS Group set a $290.00 price target on Essex Property Trust in a report on Thursday, June 18th. Jefferies Financial Group raised Essex Property Trust to a "strong-buy" rating in a research report on Wednesday, July 22nd. Weiss Ratings upgraded Essex Property Trust from a "hold (c)" rating to a "hold (c+)" rating in a research note on Tuesday, August 18th. Sanford C. Bernstein began coverage on shares of Essex Property Trust in a report on Friday, June 26th. They set an "outperform" rating and a $320.00 price target for the company. Finally, Evercore restated an "outperform" rating and set a $303.00 price target on shares of Essex Property Trust in a research report on Thursday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $304.79.

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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