Pacific Heights Asset Management LLC Has $26.17 Million Stock Holdings in Essex Property Trust, Inc. $ESS

Pacific Heights Asset Management LLC raised its position in Essex Property Trust, Inc. (NYSE:ESS) by 17.6% in the 4th quarter, HoldingsChannel reports. The fund owned 100,000 shares of the real estate investment trust’s stock after purchasing an additional 15,000 shares during the period. Pacific Heights Asset Management LLC’s holdings in Essex Property Trust were worth $26,168,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Woodline Partners LP bought a new position in Essex Property Trust in the first quarter worth $1,664,000. Focus Partners Wealth bought a new stake in Essex Property Trust in the 1st quarter valued at $223,000. EverSource Wealth Advisors LLC increased its holdings in 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 buying an additional 115 shares during the period. 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 buying an additional 21,871 shares in the last quarter. Finally, Bank of Nova Scotia raised its stake in shares of 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 valued at $2,345,000 after buying an additional 811 shares in the last quarter. Institutional investors own 96.51% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on ESS. Piper Sandler upgraded shares of Essex Property Trust from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $275.00 to $310.00 in a research report on Monday, May 4th. Stifel Nicolaus increased their price target on shares of Essex Property Trust from $278.00 to $281.50 and gave the stock a “hold” rating in a research report on Wednesday, April 29th. Raymond James Financial restated a “market perform” rating on shares of Essex Property Trust in a research note on Friday, February 27th. Royal Bank Of Canada lifted their price objective on Essex Property Trust from $282.00 to $288.00 and gave the company an “outperform” rating in a report on Thursday, April 30th. Finally, Morgan Stanley set a $293.00 price objective on Essex Property Trust in a research note on Friday. Five investment analysts have rated the stock with a Buy rating and thirteen have issued a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $284.28.

Essex Property Trust Stock Down 0.1%

Shares of NYSE:ESS opened at $266.89 on Monday. The company’s fifty day moving average is $253.64 and its 200-day moving average is $255.35. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.98 and a current ratio of 0.98. Essex Property Trust, Inc. has a 52 week low of $238.46 and a 52 week high of $294.09. The company has a market capitalization of $17.15 billion, a PE ratio of 29.99, a P/E/G ratio of 11.56 and a beta of 0.71.

Essex Property Trust (NYSE:ESS) last announced its quarterly earnings results on Tuesday, April 28th. The real estate investment trust reported $1.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.96 by ($2.31). Essex Property Trust had a net margin of 30.03% and a return on equity of 10.00%. The firm had revenue of $484.76 million for the quarter, compared to the consensus estimate of $479.89 million. During the same period in the prior year, the business earned $3.97 earnings per share. Essex Property Trust has set its Q2 2026 guidance at 3.920-4.040 EPS. Equities research analysts predict that Essex Property Trust, Inc. will post 16.04 earnings per share for the current fiscal year.

Essex Property Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th will be issued a dividend of $2.59 per share. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $10.36 annualized dividend and a dividend yield of 3.9%. Essex Property Trust’s dividend payout ratio (DPR) is presently 116.40%.

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.