Principal Financial Group Inc. Purchases 301,349 Shares of Essex Property Trust, Inc. $ESS

Key Points

• Principal Financial Group boosted its stake in Essex Property Trust by 21.9%, buying 301,349 shares to hold 1,679,607 shares (about 2.61% of the company) worth roughly $439.5 million at quarter-end.
• Essex reported a large quarterly EPS miss—$1.65 vs. a $3.96 consensus—while revenue of $484.76 million slightly beat estimates, and management set Q2 2026 EPS guidance of 3.920–4.040.
• Essex raised its quarterly dividend to $2.59 (annualized $10.36) for a ~3.9% yield, though the dividend payout ratio is high at 116.4%, which may concern income-focused investors.

Principal Financial Group Inc. increased its position in Essex Property Trust, Inc. (NYSE:ESS - Free Report) by 21.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,679,607 shares of the real estate investment trust's stock after acquiring an additional 301,349 shares during the quarter. Principal Financial Group Inc. owned about 2.61% of Essex Property Trust worth $439,520,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the company. Daiwa Securities Group Inc. raised its holdings in Essex Property Trust by 9.5% in the 3rd quarter. Daiwa Securities Group Inc. now owns 1,157,617 shares of the real estate investment trust's stock worth $309,848,000 after acquiring an additional 100,730 shares during the period. Dimensional Fund Advisors LP raised its holdings in Essex Property Trust by 0.6% in the 3rd quarter. Dimensional Fund Advisors LP now owns 929,187 shares of the real estate investment trust's stock worth $248,703,000 after acquiring an additional 5,483 shares during the period. Ameriprise Financial Inc. raised its holdings in Essex Property Trust by 3.9% in the 3rd quarter. Ameriprise Financial Inc. now owns 882,010 shares of the real estate investment trust's stock worth $233,668,000 after acquiring an additional 32,981 shares during the period. Resolution Capital Ltd raised its holdings in Essex Property Trust by 3.2% in the 2nd quarter. Resolution Capital Ltd now owns 848,629 shares of the real estate investment trust's stock worth $240,501,000 after acquiring an additional 26,661 shares during the period. Finally, Invesco Ltd. raised its holdings in Essex Property Trust by 7.0% in the 3rd quarter. Invesco Ltd. now owns 786,774 shares of the real estate investment trust's stock worth $210,588,000 after acquiring an additional 51,407 shares during the period. Institutional investors own 96.51% of the company's stock.

Essex Property Trust Stock Performance

NYSE ESS opened at $264.30 on Tuesday. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.98 and a quick ratio of 0.98. The firm has a market capitalization of $16.98 billion, a price-to-earnings ratio of 29.70, a P/E/G ratio of 8.25 and a beta of 0.71. The company's fifty day moving average is $251.76 and its two-hundred day moving average is $254.96. Essex Property Trust, Inc. has a 52-week low of $238.46 and a 52-week high of $294.09.

Essex Property Trust (NYSE:ESS - Get Free Report) last posted its quarterly earnings results on Tuesday, April 28th. The real estate investment trust reported $1.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.96 by ($2.31). The company had revenue of $484.76 million during the quarter, compared to analyst estimates of $479.89 million. Essex Property Trust had a return on equity of 10.00% and a net margin of 30.03%.During the same quarter in the prior year, the business earned $3.97 earnings per share. Essex Property Trust has set its Q2 2026 guidance at 3.920-4.040 EPS. Equities research analysts forecast that Essex Property Trust, Inc. will post 16.03 EPS for the current year.

Essex Property Trust Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st were given a dividend of $2.59 per share. This is an increase from Essex Property Trust's previous quarterly dividend of $2.57. The ex-dividend date was Tuesday, March 31st. This represents a $10.36 annualized dividend and a dividend yield of 3.9%. Essex Property Trust's dividend payout ratio (DPR) is presently 116.40%.

Analyst Ratings Changes

ESS has been the topic of several recent analyst reports. Weiss Ratings reiterated a "hold (c+)" rating on shares of Essex Property Trust in a report on Thursday, January 22nd. Royal Bank Of Canada raised their price target on shares of Essex Property Trust from $282.00 to $288.00 and gave the stock an "outperform" rating in a research report on Thursday. Wells Fargo & Company decreased their price target on shares of Essex Property Trust from $268.00 to $262.00 and set an "equal weight" rating on the stock in a research report on Thursday, April 23rd. Cantor Fitzgerald raised their price target on shares of Essex Property Trust from $290.00 to $291.00 and gave the stock an "overweight" rating in a research report on Monday. Finally, Piper Sandler upgraded shares of Essex Property Trust from a "neutral" rating to an "overweight" rating and raised their price target for the stock from $275.00 to $310.00 in a research report on Monday. Five investment analysts have rated the stock with a Buy rating and thirteen have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $282.97.

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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