Resona Asset Management Co. Ltd. Grows Stake in Essex Property Trust, Inc. $ESS

Resona Asset Management Co. Ltd. grew its stake in shares of Essex Property Trust, Inc. (NYSE:ESS) by 5.3% in the first quarter, Holdings Channel reports. The fund owned 46,497 shares of the real estate investment trust’s stock after acquiring an additional 2,348 shares during the quarter. Resona Asset Management Co. Ltd.’s holdings in Essex Property Trust were worth $11,275,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. Woodline Partners LP purchased a new stake in Essex Property Trust in the first quarter worth $1,664,000. Focus Partners Wealth bought a new stake in shares of Essex Property Trust in the first quarter valued at $223,000. EverSource Wealth Advisors LLC lifted its position in shares of Essex Property Trust by 70.1% during 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 last quarter. First Trust Advisors LP lifted its position in shares of Essex Property Trust by 186.2% during 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 during the last quarter. Finally, Bank of Nova Scotia grew its stake in shares of Essex Property Trust by 10.9% during 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 acquiring an additional 811 shares during the period. Hedge funds and other institutional investors own 96.51% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Mizuho lifted their price objective on Essex Property Trust from $285.00 to $308.00 and gave the stock an “outperform” rating in a report on Wednesday, June 10th. Weiss Ratings upgraded shares of Essex Property Trust from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, June 12th. Jefferies Financial Group upgraded shares of Essex Property Trust to a “hold” rating in a research note on Friday, June 26th. Truist Financial upped their price target on shares of Essex Property Trust from $273.00 to $286.00 and gave the company a “hold” rating in a research note on Wednesday, May 27th. Finally, Stifel Nicolaus upped their price target on shares of Essex Property Trust from $278.00 to $281.50 and gave the company a “hold” rating in a research note on Wednesday, April 29th. Nine investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $293.03.

Essex Property Trust Price Performance

ESS traded up $2.21 during trading on Friday, reaching $293.33. 464,205 shares of the company were exchanged, compared to its average volume of 439,403. Essex Property Trust, Inc. has a 12-month low of $238.46 and a 12-month high of $303.35. The company’s 50-day moving average is $279.91 and its two-hundred day moving average is $262.61. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 1.22. The company has a market cap of $18.85 billion, a price-to-earnings ratio of 32.96, a P/E/G ratio of 12.55 and a beta of 0.70.

Essex Property Trust (NYSE:ESS) last posted its earnings results on Tuesday, April 28th. The real estate investment trust reported $1.65 earnings per share for the quarter, missing analysts’ consensus estimates 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 company had revenue of $484.76 million for the quarter, compared to analysts’ expectations of $479.89 million. During the same period in the previous year, the firm earned $3.97 EPS. Essex Property Trust has set its Q2 2026 guidance at 3.920-4.040 EPS. Research analysts forecast that Essex Property Trust, Inc. will post 16.11 earnings per share for the current fiscal year.

Essex Property Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th will be paid 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 yield of 3.5%. Essex Property Trust’s payout ratio is currently 116.40%.

Insider Buying and Selling

In related news, Director Mary Kasaris sold 600 shares of the company’s stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $279.45, for a total transaction of $167,670.00. Following 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 position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 3.47% of the company’s stock.

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.