Hsbc Holdings PLC Increases Stock Position in Essex Property Trust, Inc. $ESS

Hsbc Holdings PLC raised its stake in shares of Essex Property Trust, Inc. (NYSE:ESS) by 16.7% in the second quarter, Holdings Channel.com reports. The fund owned 255,953 shares of the real estate investment trust’s stock after purchasing an additional 36,570 shares during the period. Hsbc Holdings PLC’s holdings in Essex Property Trust were worth $74,687,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. The Manufacturers Life Insurance Company purchased a new position in shares of Essex Property Trust during the 2nd quarter worth approximately $11,451,000. Nomura Asset Management Co. Ltd. raised its position in Essex Property Trust by 2.6% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 255,533 shares of the real estate investment trust’s stock valued at $66,868,000 after purchasing an additional 6,422 shares during the period. Jefferies Financial Group Inc. acquired a new position in Essex Property Trust during the second quarter worth $2,889,000. Norges Bank acquired a new position in Essex Property Trust during the fourth quarter worth $230,690,000. Finally, BlackRock Inc. purchased a new position in shares of Essex Property Trust during the second quarter worth $2,166,555,000. 96.51% of the stock is owned by hedge funds and other institutional investors.

Essex Property Trust Stock Performance

NYSE:ESS opened at $278.53 on Monday. The company has a fifty day simple moving average of $289.38 and a two-hundred day simple moving average of $271.85. The company has a market cap of $17.90 billion, a price-to-earnings ratio of 43.32, a price-to-earnings-growth ratio of 10.19 and a beta of 0.69. 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, Inc. has a 52 week low of $238.46 and a 52 week high of $303.35.

Essex Property Trust (NYSE:ESS) last announced its quarterly earnings data on Wednesday, July 29th. The real estate investment trust reported $4.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.46 by $2.62. The business had revenue of $489.05 million for the quarter, compared to analysts’ expectations of $485.12 million. Essex Property Trust had a return on equity of 7.33% and a net margin of 21.48%.During the same period last year, the firm earned $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 anticipate that Essex Property Trust, Inc. will post 16.18 earnings per share for the current fiscal year.

Essex Property Trust Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th will be given a $2.59 dividend. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a $10.36 dividend on an annualized basis and a yield of 3.7%. Essex Property Trust’s dividend payout ratio (DPR) is currently 161.12%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on ESS shares. Evercore reaffirmed an “outperform” rating and issued a $303.00 price objective on shares of Essex Property Trust in a research note on Thursday, July 30th. Deutsche Bank Aktiengesellschaft set a $325.00 target price on Essex Property Trust in a research note on Tuesday, August 18th. Wall Street Zen cut Essex Property Trust from a “hold” rating to a “sell” rating in a report on Saturday, August 1st. Scotiabank lifted their target price on Essex Property Trust from $290.00 to $307.00 and gave the company an “outperform” rating in a research report on Thursday, July 9th. Finally, Stifel Nicolaus set a $292.75 price target on shares of Essex Property Trust in a research note on Thursday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently 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.