VIRGINIA RETIREMENT SYSTEMS ET Al Acquires New Shares in Essex Property Trust, Inc. $ESS

Key Points

• Virginia Retirement Systems acquired 107,012 shares of Essex Property Trust in the second quarter, worth approximately $31.2 million. Institutional investors and hedge funds collectively own 96.51% of the REIT.
• Essex reported quarterly EPS of $4.08, beating estimates of $1.46, while revenue reached $489.05 million. Management issued third-quarter 2026 EPS guidance of $3.93–$4.05 and full-year guidance of $16.03–$16.25.
• The company declared a quarterly dividend of $2.59 per share, equivalent to a 3.7% yield, while analysts maintain a “Moderate Buy” consensus and an average price target of $304.79.

VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in Essex Property Trust, Inc. (NYSE:ESS - Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 107,012 shares of the real estate investment trust's stock, valued at approximately $31,204,000. VIRGINIA RETIREMENT SYSTEMS ET Al owned approximately 0.17% of Essex Property Trust at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Woodline Partners LP bought a new stake in shares of Essex Property Trust during the 1st quarter worth about $1,664,000. Focus Partners Wealth acquired a new position in shares of Essex Property Trust during the 1st quarter valued at about $223,000. EverSource Wealth Advisors LLC raised its stake in shares of Essex Property Trust by 70.1% in the 2nd 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 in the last quarter. First Trust Advisors LP raised its stake in shares of Essex Property Trust by 186.2% in the 2nd quarter. First Trust Advisors LP now owns 33,614 shares of the real estate investment trust's stock valued at $9,526,000 after acquiring an additional 21,871 shares in the last quarter. Finally, Bank of Nova Scotia lifted its holdings in Essex Property Trust by 10.9% in the 2nd quarter. Bank of Nova Scotia now owns 8,274 shares of the real estate investment trust's stock worth $2,345,000 after purchasing an additional 811 shares during the last quarter. 96.51% of the stock is owned by institutional investors and hedge funds.

Essex Property Trust Trading Down 0.0%

Shares of ESS stock opened at $278.53 on Tuesday. The firm has a market capitalization of $17.90 billion, a P/E ratio of 43.32, a price-to-earnings-growth ratio of 10.19 and a beta of 0.69. Essex Property Trust, Inc. has a 1 year low of $238.46 and a 1 year high of $303.35. The firm's fifty day simple moving average is $289.04 and its 200 day simple moving average is $272.03. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 1.22.

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 earnings per share for the quarter, beating analysts' consensus estimates of $1.46 by $2.62. Essex Property Trust had a net margin of 21.48% and a return on equity of 7.33%. The firm had revenue of $489.05 million during the quarter, compared to the consensus estimate of $485.12 million. During the same period in the prior year, the firm earned $4.03 EPS. 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 predict that Essex Property Trust, Inc. will post 16.18 EPS for the current year.

Essex Property Trust Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Wednesday, September 30th will be paid a $2.59 dividend. This represents a $10.36 annualized dividend and a dividend yield of 3.7%. The ex-dividend date is Wednesday, September 30th. Essex Property Trust's dividend payout ratio (DPR) is presently 161.12%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. Cantor Fitzgerald upped their target price on Essex Property Trust from $291.00 to $316.00 and gave the stock an "overweight" rating in a research report on Monday, August 3rd. Citigroup raised shares of Essex Property Trust from a "buy" rating to an "outperform" rating in a research report on Friday, July 31st. Weiss Ratings upgraded shares of Essex Property Trust from a "hold (c)" rating to a "hold (c+)" rating in a research note on Tuesday, August 18th. Mizuho upped their price objective on shares of Essex Property Trust from $285.00 to $308.00 and gave the stock an "outperform" rating in a report on Wednesday, June 10th. Finally, UBS Group set a $290.00 target price on shares of Essex Property Trust in a research note on Thursday, June 18th. 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 given a Sell rating to the stock. Based on data from MarketBeat, the company 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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