Westpac Banking Corp Invests $4.64 Million in Essex Property Trust, Inc. $ESS

Key Points

• Westpac Banking Corp acquired 15,901 shares of Essex Property Trust in the second quarter, worth approximately $4.64 million. Institutional investors collectively own 96.51% of the REIT.
• Essex reported quarterly earnings of $4.08 per share, surpassing the $1.46 consensus estimate, while revenue of $489.05 million also exceeded expectations. 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 rating, with an average price target of $304.79 versus the stock’s recent price of $289.26. Shares have traded between $238.46 and $303.35 over the past year.

Westpac Banking Corp purchased a new position in shares of Essex Property Trust, Inc. (NYSE:ESS - Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 15,901 shares of the real estate investment trust's stock, valued at approximately $4,637,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ESS. Dorsey & Whitney Trust CO LLC lifted its position in Essex Property Trust by 5.2% during the 4th quarter. Dorsey & Whitney Trust CO LLC now owns 814 shares of the real estate investment trust's stock worth $213,000 after buying an additional 40 shares in the last quarter. Segment Wealth Management LLC boosted its stake in shares of Essex Property Trust by 5.1% in the 4th quarter. Segment Wealth Management LLC now owns 913 shares of the real estate investment trust's stock valued at $239,000 after purchasing an additional 44 shares during the last quarter. Norinchukin Bank The grew its holdings in Essex Property Trust by 0.6% during the 3rd quarter. Norinchukin Bank The now owns 6,957 shares of the real estate investment trust's stock worth $1,862,000 after acquiring an additional 44 shares during the period. Kestra Private Wealth Services LLC grew its stake in shares of Essex Property Trust by 1.7% during the first quarter. Kestra Private Wealth Services LLC now owns 3,047 shares of the real estate investment trust's stock worth $737,000 after purchasing an additional 50 shares during the period. Finally, EverSource Wealth Advisors LLC grew its position in shares of Essex Property Trust by 31.2% during the 1st quarter. EverSource Wealth Advisors LLC now owns 265 shares of the real estate investment trust's stock worth $64,000 after buying an additional 63 shares during the period. 96.51% of the stock is owned by institutional investors.

Essex Property Trust Trading Up 0.5%

Shares of NYSE ESS opened at $289.26 on Friday. The firm has a 50 day moving average price of $288.72 and a two-hundred day moving average price of $269.65. The stock has a market cap of $18.59 billion, a P/E ratio of 44.99, a price-to-earnings-growth ratio of 10.52 and a beta of 0.69. Essex Property Trust, Inc. has a 52-week low of $238.46 and a 52-week high of $303.35. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.60 and a current ratio of 0.60.

Essex Property Trust (NYSE:ESS - Get Free Report) last issued its quarterly earnings data on Wednesday, July 29th. The real estate investment trust reported $4.08 earnings per share for the quarter, topping the consensus estimate of $1.46 by $2.62. The company had revenue of $489.05 million for the quarter, compared to analysts' expectations of $485.12 million. Essex Property Trust had a net margin of 21.48% and a return on equity of 7.33%. During the same quarter in the previous 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. As a group, equities analysts forecast that Essex Property Trust, Inc. will post 16.18 EPS for the current year.

Insider Activity at Essex Property Trust

In other news, Director Mary Kasaris sold 600 shares of the stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $279.45, for a total value of $167,670.00. Following the completion of the sale, the director owned 2,394 shares of the company's stock, valued at approximately $669,003.30. This represents a 20.04% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 3.47% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Cantor Fitzgerald increased their target price on Essex Property Trust from $291.00 to $316.00 and gave the stock an "overweight" rating in a research note on Monday, August 3rd. Truist Financial upped their target price on Essex Property Trust from $273.00 to $286.00 and gave the stock a "hold" rating in a report on Wednesday, May 27th. Citizens Jmp raised shares of Essex Property Trust from a "market perform" rating to an "outperform" rating and set a $330.00 price target on the stock in a research report on Friday, July 31st. Morgan Stanley lifted their target price 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, Wells Fargo & Company lifted their target price on shares of Essex Property Trust from $280.00 to $297.00 and gave the stock an "equal weight" rating in a report on Wednesday, July 22nd. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $304.79.

Essex Property Trust Company 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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