Principal Financial Group Inc. Reduces Position in Essex Property Trust, Inc. $ESS

Principal Financial Group Inc. trimmed its position in Essex Property Trust, Inc. (NYSE:ESS) by 0.7% during the first quarter, Holdings Channel.com reports. The firm owned 1,668,036 shares of the real estate investment trust’s stock after selling 11,571 shares during the period. Principal Financial Group Inc.’s holdings in Essex Property Trust were worth $403,668,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the company. Nemes Rush Group LLC acquired a new position in shares of Essex Property Trust during the fourth quarter worth $27,000. Generali Asset Management SPA SGR acquired a new stake in Essex Property Trust in the fourth quarter valued at $29,000. True Wealth Design LLC raised its stake in Essex Property Trust by 120.0% in the fourth quarter. True Wealth Design LLC now owns 176 shares of the real estate investment trust’s stock valued at $46,000 after buying an additional 96 shares in the last quarter. Hantz Financial Services Inc. lifted its holdings in Essex Property Trust by 67.8% during the 4th quarter. Hantz Financial Services Inc. now owns 193 shares of the real estate investment trust’s stock worth $51,000 after buying an additional 78 shares during the last quarter. Finally, Advisory Services Network LLC purchased a new position in shares of Essex Property Trust in the 3rd quarter valued at about $51,000. 96.51% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Essex Property Trust news, Director Mary Kasaris sold 600 shares of the firm’s stock in a transaction 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 transaction, the director directly owned 2,394 shares of the company’s stock, valued at approximately $669,003.30. This trade represents a 20.04% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 3.47% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on ESS. Weiss Ratings raised Essex Property Trust from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, June 12th. Royal Bank Of Canada increased their price target on shares of Essex Property Trust from $282.00 to $288.00 and gave the company an “outperform” rating in a research note on Thursday, April 30th. Scotiabank increased their price target on shares of Essex Property Trust from $290.00 to $307.00 and gave the company an “outperform” rating in a research note on Thursday. Morgan Stanley raised their price objective on shares of Essex Property Trust from $293.00 to $302.00 and gave the stock an “equal weight” rating in a report on Thursday, June 25th. Finally, Wall Street Zen upgraded shares of Essex Property Trust from a “sell” rating to a “hold” rating in a report on Saturday, July 4th. Nine equities research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Essex Property Trust currently has a consensus rating of “Hold” and a consensus price target of $293.03.

Essex Property Trust Trading Up 1.3%

NYSE:ESS opened at $297.30 on Tuesday. The company has a market capitalization of $19.10 billion, a PE ratio of 33.40, a P/E/G ratio of 12.66 and a beta of 0.70. Essex Property Trust, Inc. has a 52-week low of $238.46 and a 52-week high of $303.35. The stock’s 50 day moving average price is $280.59 and its 200 day moving average price is $262.89. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 1.22.

Essex Property Trust (NYSE:ESS) last issued its quarterly earnings data 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). The firm had revenue of $484.76 million during the quarter, compared to analysts’ expectations of $479.89 million. Essex Property Trust had a net margin of 30.03% and a return on equity of 10.00%. During the same quarter in the prior year, the firm posted $3.97 EPS. Essex Property Trust has set its Q2 2026 guidance at 3.920-4.040 EPS. On average, research analysts anticipate that Essex Property Trust, Inc. will post 16.11 EPS for the current year.

Essex Property Trust Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th will be given a $2.59 dividend. The ex-dividend date is Tuesday, June 30th. This represents a $10.36 annualized dividend and a yield of 3.5%. Essex Property Trust’s dividend payout ratio is 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.