Wealthfront Advisers LLC Takes Position in Essex Property Trust, Inc. $ESS

Key Points

• Wealthfront Advisers acquired 25,499 shares of Essex Property Trust in the second quarter, valued at approximately $7.4 million. Institutional investors collectively own 96.51% of ESS stock.
• Essex reported quarterly EPS of $4.08, exceeding analyst expectations of $1.46, while revenue of $489.05 million also topped estimates. The company issued third-quarter 2026 EPS guidance of $3.93–$4.05 and full-year guidance of $16.03–$16.25.
• Analysts maintain a “Moderate Buy” consensus on ESS, with an average price target of $304.79 versus the stock’s opening price of $287.22. Recent target increases included RBC to $312 and Cantor Fitzgerald to $316.

Wealthfront Advisers LLC acquired a new position in Essex Property Trust, Inc. (NYSE:ESS - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 25,499 shares of the real estate investment trust's stock, valued at approximately $7,435,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ESS. BlackRock Inc. purchased a new stake in Essex Property Trust in the second quarter valued at about $2,166,555,000. Geode Capital Management LLC grew its stake in shares of Essex Property Trust by 1.2% during the fourth quarter. Geode Capital Management LLC now owns 1,873,698 shares of the real estate investment trust's stock worth $488,601,000 after acquiring an additional 22,835 shares during the last quarter. Principal Financial Group Inc. grew its stake in shares of Essex Property Trust by 21.9% during the fourth quarter. Principal Financial Group Inc. now owns 1,679,607 shares of the real estate investment trust's stock worth $439,520,000 after acquiring an additional 301,349 shares during the last quarter. Daiwa Securities Group Inc. increased its holdings in shares of Essex Property Trust by 9.5% during the third quarter. Daiwa Securities Group Inc. now owns 1,157,617 shares of the real estate investment trust's stock valued at $309,848,000 after acquiring an additional 100,730 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in shares of Essex Property Trust by 6.1% during the first quarter. Dimensional Fund Advisors LP now owns 995,810 shares of the real estate investment trust's stock valued at $240,989,000 after acquiring an additional 57,173 shares in the last quarter. 96.51% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Essex Property Trust

In other Essex Property Trust news, Director Mary Kasaris sold 600 shares of the business's stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of $279.45, for a total transaction of $167,670.00. Following the completion of the sale, the director directly owned 2,394 shares in the company, valued at approximately $669,003.30. The trade was a 20.04% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 3.47% of the stock is currently owned by company insiders.

Essex Property Trust Stock Performance

Shares of ESS stock opened at $287.22 on Thursday. Essex Property Trust, Inc. has a 52-week low of $238.46 and a 52-week high of $303.35. 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 stock has a market cap of $18.46 billion, a PE ratio of 44.67, a price-to-earnings-growth ratio of 10.38 and a beta of 0.69. The business has a 50-day simple moving average of $288.45 and a 200-day simple moving average of $269.25.

Essex Property Trust (NYSE:ESS - Get Free Report) last announced its quarterly earnings results on Wednesday, July 29th. The real estate investment trust reported $4.08 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to the consensus estimate of $485.12 million. During the same period in the prior year, the firm 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. On average, equities analysts expect that Essex Property Trust, Inc. will post 16.17 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts recently commented on ESS shares. Stifel Nicolaus set a $292.75 target price on shares of Essex Property Trust in a research note on Thursday, July 30th. Royal Bank Of Canada upped their price target on shares of Essex Property Trust from $306.00 to $312.00 and gave the company an "outperform" rating in a research note on Friday, July 31st. Cantor Fitzgerald raised their price target on shares of Essex Property Trust from $291.00 to $316.00 and gave the stock an "overweight" rating in a report on Monday, August 3rd. Morgan Stanley lifted their price objective on shares of 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, Evercore reissued an "outperform" rating and issued a $303.00 target price on shares of Essex Property Trust in a research report on Thursday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, Essex Property Trust has a consensus rating of "Moderate Buy" and a consensus price target of $304.79.

About Essex Property Trust

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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