Pacific Heights Asset Management LLC Buys New Stake in Essex Property Trust, Inc. $ESS

Pacific Heights Asset Management LLC purchased a new position in Essex Property Trust, Inc. (NYSE:ESS) during the 2nd quarter, HoldingsChannel.com reports. The institutional investor purchased 100,000 shares of the real estate investment trust’s stock, valued at approximately $29,159,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Woodline Partners LP purchased a new position in shares of Essex Property Trust during the first quarter valued at about $1,664,000. Focus Partners Wealth purchased a new stake in shares of Essex Property Trust during the 1st quarter worth approximately $223,000. EverSource Wealth Advisors LLC raised its holdings 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 worth $79,000 after acquiring an additional 115 shares in the last quarter. First Trust Advisors LP boosted 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 acquiring an additional 21,871 shares during the last quarter. Finally, Bank of Nova Scotia increased its position in Essex Property Trust by 10.9% in the second quarter. Bank of Nova Scotia now owns 8,274 shares of the real estate investment trust’s stock worth $2,345,000 after purchasing an additional 811 shares during the last quarter. Institutional investors own 96.51% of the company’s stock.

Essex Property Trust Stock Down 2.5%

Shares of ESS opened at $280.86 on Friday. The company has a market cap of $18.05 billion, a PE ratio of 43.68, a P/E/G ratio of 10.54 and a beta of 0.69. The business has a fifty day moving average of $289.61 and a 200 day moving average of $270.82. 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.

Essex Property Trust (NYSE:ESS) last posted its quarterly earnings data on Wednesday, July 29th. The real estate investment trust reported $4.08 earnings per share for the quarter, beating 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 business had revenue of $489.05 million for the quarter, compared to analysts’ expectations of $485.12 million. During the same quarter in the previous year, the business 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, sell-side analysts expect that Essex Property Trust, Inc. will post 16.18 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms have commented on ESS. Jefferies Financial Group upgraded shares of Essex Property Trust to a “strong-buy” rating in a research report on Wednesday, July 22nd. Deutsche Bank Aktiengesellschaft set a $325.00 target price on shares of Essex Property Trust in a report on Tuesday, August 18th. Weiss Ratings upgraded shares of Essex Property Trust from a “hold (c)” rating to a “hold (c+)” rating in a research report on Tuesday, August 18th. Mizuho increased their price target on shares of Essex Property Trust from $285.00 to $308.00 and gave the company an “outperform” rating in a report on Wednesday, June 10th. Finally, Citigroup upgraded Essex Property Trust from a “buy” rating to an “outperform” rating in a research report on Friday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company has a consensus 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.