Bank of New York Mellon Corp Cuts Stake in Essex Property Trust, Inc. $ESS

Bank of New York Mellon Corp lessened its holdings in shares of Essex Property Trust, Inc. (NYSE:ESS) by 0.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 464,465 shares of the real estate investment trust’s stock after selling 2,929 shares during the period. Bank of New York Mellon Corp owned approximately 0.72% of Essex Property Trust worth $112,401,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the business. Nemes Rush Group LLC acquired a new position in Essex Property Trust during the 4th quarter valued at about $27,000. Generali Asset Management SPA SGR acquired a new stake in Essex Property Trust in the fourth quarter worth about $29,000. True Wealth Design LLC grew its stake in shares of Essex Property Trust by 120.0% during the fourth quarter. True Wealth Design LLC now owns 176 shares of the real estate investment trust’s stock worth $46,000 after acquiring an additional 96 shares during the last quarter. Hantz Financial Services Inc. grew its stake in shares of Essex Property Trust by 67.8% during the fourth quarter. Hantz Financial Services Inc. now owns 193 shares of the real estate investment trust’s stock worth $51,000 after acquiring an additional 78 shares during the last quarter. Finally, Advisory Services Network LLC acquired a new position in shares of Essex Property Trust during the third quarter valued at about $51,000. Institutional investors and hedge funds own 96.51% of the company’s stock.

Essex Property Trust Price Performance

NYSE:ESS opened at $293.76 on Tuesday. The firm’s fifty day moving average is $283.44 and its two-hundred day moving average is $264.05. The firm has a market cap of $18.88 billion, a price-to-earnings ratio of 33.01, a PEG ratio of 12.63 and a beta of 0.70. 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 one year low of $238.46 and a one year high of $303.35.

Essex Property Trust (NYSE:ESS) last issued its earnings results on Tuesday, April 28th. The real estate investment trust reported $1.65 EPS for the quarter, missing analysts’ consensus estimates of $3.96 by ($2.31). Essex Property Trust had a return on equity of 10.00% and a net margin of 30.03%.The company had revenue of $484.76 million during the quarter, compared to analysts’ expectations of $479.89 million. During the same quarter in the previous year, the company earned $3.97 EPS. Essex Property Trust has set its Q2 2026 guidance at 3.920-4.040 EPS. Research analysts expect that Essex Property Trust, Inc. will post 16.11 EPS for the current year.

Essex Property Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were given a $2.59 dividend. The ex-dividend date was Tuesday, June 30th. This represents a $10.36 dividend on an annualized basis and a dividend yield of 3.5%. Essex Property Trust’s dividend payout ratio is 116.40%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Sanford C. Bernstein assumed coverage on shares of Essex Property Trust in a research report on Friday, June 26th. They issued an “outperform” rating and a $320.00 price objective for the company. JPMorgan Chase & Co. upped their price target on shares of Essex Property Trust from $272.00 to $275.00 and gave the company an “underweight” rating in a research note on Monday, May 18th. Jefferies Financial Group raised shares of Essex Property Trust from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 14th. Piper Sandler upgraded shares of Essex Property Trust from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $275.00 to $310.00 in a research note on Monday, May 4th. Finally, Raymond James Financial raised Essex Property Trust from a “market perform” rating to an “outperform” rating and set a $320.00 target price on the stock in a research report on Friday, June 26th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $295.97.

Insider Activity

In related news, Director Mary Kasaris sold 600 shares of Essex Property Trust 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 transaction, the director owned 2,394 shares in the company, valued at $669,003.30. The trade was a 20.04% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 3.47% of the stock is currently owned by insiders.

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.