The Manufacturers Life Insurance Company Takes $11.45 Million Position in Essex Property Trust, Inc. $ESS

Key Points

• The Manufacturers Life Insurance Company acquired 39,270 shares of Essex Property Trust during the second quarter, worth approximately $11.45 million and representing 0.06% of the REIT.
• Institutional ownership remains high at 96.51%, with several other funds initiating or increasing positions in ESS.
• Essex reported quarterly EPS of $4.08, substantially above the $1.46 analyst consensus, while analysts maintain a “Moderate Buy” consensus with an average price target of $304.79.

The Manufacturers Life Insurance Company bought a new stake in shares of Essex Property Trust, Inc. (NYSE:ESS - Free Report) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund bought 39,270 shares of the real estate investment trust's stock, valued at approximately $11,451,000. The Manufacturers Life Insurance Company owned 0.06% of Essex Property Trust as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Nemes Rush Group LLC acquired a new stake in Essex Property Trust in the fourth quarter worth $27,000. Generali Asset Management SPA SGR acquired a new stake in shares of Essex Property Trust in the 4th quarter valued at about $29,000. Cassaday & Co Wealth Management LLC acquired a new stake in shares of Essex Property Trust in the 1st quarter valued at about $38,000. Western Wealth Management LLC bought a new stake in Essex Property Trust in the 1st quarter valued at about $44,000. Finally, Elevation Wealth Partners LLC raised its stake in Essex Property Trust by 523.1% during the 2nd quarter. Elevation Wealth Partners LLC now owns 162 shares of the real estate investment trust's stock worth $47,000 after buying an additional 136 shares during the period. 96.51% of the stock is owned by institutional investors.

Essex Property Trust Stock Performance

ESS stock opened at $284.49 on Friday. The firm has a market cap of $18.28 billion, a PE ratio of 44.24, a P/E/G ratio of 10.39 and a beta of 0.69. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 1.22. The business has a 50 day moving average of $289.82 and a 200-day moving average of $270.92. Essex Property Trust, Inc. has a 12-month low of $238.46 and a 12-month high of $303.35.

Essex Property Trust (NYSE:ESS - Get Free Report) last issued its quarterly earnings results on Wednesday, July 29th. The real estate investment trust reported $4.08 EPS for the quarter, topping 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 analyst estimates of $485.12 million. During the same period last year, the company posted $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. As a group, sell-side analysts expect that Essex Property Trust, Inc. will post 16.18 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts have issued reports on ESS shares. Barclays increased their price target on Essex Property Trust from $296.00 to $297.00 and gave the stock an "equal weight" rating in a report on Monday, August 17th. Wall Street Zen cut shares of Essex Property Trust from a "hold" rating to a "sell" rating in a report on Saturday, August 1st. Citizens Jmp raised Essex Property Trust from a "market perform" rating to an "outperform" rating and set a $330.00 price objective for the company in a report on Friday, July 31st. Morgan Stanley increased their price objective on Essex Property Trust from $293.00 to $302.00 and gave the stock an "equal weight" rating in a research note on Thursday, June 25th. Finally, Piper Sandler raised their target price on Essex Property Trust from $310.00 to $352.00 and gave the company an "overweight" rating in a report on Tuesday, July 21st. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target 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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