Rakuten Investment Management Inc. Acquires New Stake in Essex Property Trust, Inc. $ESS

Key Points

• Rakuten Investment Management acquired 10,523 shares of Essex Property Trust in the second quarter, valued at approximately $3.1 million. Institutional investors collectively own 96.51% of ESS.
• Analysts remain broadly positive, with a consensus rating of “Moderate Buy” and an average price target of $304.79. Several firms recently raised their targets, including Citizens JMP, RBC, and Mizuho.
• Essex reported quarterly EPS of $4.08, beating estimates of $1.46, while revenue reached $489.05 million versus the $485.12 million consensus. The stock opened at $284.49, within its one-year range of $238.46 to $303.35.

Rakuten Investment Management Inc. bought a new position in Essex Property Trust, Inc. (NYSE:ESS - Free Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 10,523 shares of the real estate investment trust's stock, valued at approximately $3,114,000.

A number of other large investors have also recently added to or reduced their stakes in ESS. Woodline Partners LP acquired a new stake in shares of Essex Property Trust in the 1st quarter valued at about $1,664,000. Focus Partners Wealth bought a new stake in shares of Essex Property Trust in the first quarter valued at about $223,000. EverSource Wealth Advisors LLC boosted its position in shares of Essex Property Trust by 70.1% during the second quarter. EverSource Wealth Advisors LLC now owns 279 shares of the real estate investment trust's stock worth $79,000 after buying an additional 115 shares during the period. First Trust Advisors LP boosted its position 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 worth $9,526,000 after buying an additional 21,871 shares during the period. 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 worth $2,345,000 after buying an additional 811 shares in the last quarter. Institutional investors own 96.51% of the company's stock.

Analysts Set New Price Targets

ESS has been the topic of a number of recent research reports. Citizens Jmp raised Essex Property Trust from a "market perform" rating to an "outperform" rating and set a $330.00 target price on the stock in a research report on Friday, July 31st. Royal Bank Of Canada upped their price target on Essex Property Trust from $306.00 to $312.00 and gave the stock an "outperform" rating in a research report on Friday, July 31st. Mizuho raised their price target on shares of Essex Property Trust from $285.00 to $308.00 and gave the stock an "outperform" rating in a research note on Wednesday, June 10th. Sanford C. Bernstein began coverage on shares of Essex Property Trust in a research note on Friday, June 26th. They set an "outperform" rating and a $320.00 price target for the company. Finally, Stifel Nicolaus set a $292.75 price objective on shares of Essex Property Trust in a report on Thursday, July 30th. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Essex Property Trust has a consensus rating of "Moderate Buy" and a consensus price target of $304.79.

Essex Property Trust Trading Up 0.2%

Essex Property Trust stock opened at $284.49 on Monday. The company has a market cap of $18.28 billion, a price-to-earnings ratio of 44.24, a P/E/G ratio of 10.39 and a beta of 0.69. The firm has a 50-day moving average of $289.82 and a 200-day moving average of $271.01. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.60 and a quick ratio of 0.60. Essex Property Trust, Inc. has a one year low of $238.46 and a one year high of $303.35.

Essex Property Trust (NYSE:ESS - Get Free Report) last released its earnings results on Wednesday, July 29th. The real estate investment trust reported $4.08 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.46 by $2.62. Essex Property Trust had a return on equity of 7.33% and a net margin of 21.48%.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 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. On average, equities analysts expect that Essex Property Trust, Inc. will post 16.18 earnings per share for the current fiscal year.

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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