Vanguard Trims Essex Property Trust Stake to 16.0%

TL;DR

**Vanguard still owns a huge chunk of Essex Property Trust, even after a tiny trim.**

AI Summary

The Vanguard Group, a major investment firm, filed an amended Schedule 13G/A on February 13, 2024, updating its ownership in Essex Property Trust Inc. As of December 29, 2023, Vanguard reported beneficial ownership of 10,037,709 shares of Essex Property Trust's Common Stock, representing 16.0% of the company. This filing indicates a slight decrease from its previously reported 16.1% ownership, but Vanguard remains a significant institutional holder, which matters to investors as large institutional ownership can provide stability and confidence in the stock.

Why It Matters

This filing shows that a major institutional investor, Vanguard, still holds a substantial portion of Essex Property Trust, signaling continued confidence, even with a minor reduction in its stake. For investors, this means a large, stable holder is still committed to the company.

Risk Assessment

Risk Level: low — The change in ownership is minor, and Vanguard remains a significant holder, indicating no immediate high risk to the stock.

Analyst Insight

Investors should note Vanguard's continued substantial, though slightly reduced, ownership. This suggests long-term institutional interest, but the minor reduction could warrant a deeper look into recent company performance or sector trends to understand if Vanguard is rebalancing its portfolio.

Key Numbers

• 10,037,709 — Shares Beneficially Owned (The total number of Common Stock shares of Essex Property Trust Inc. owned by The Vanguard Group as of December 29, 2023.)
• 16.0% — Percentage of Class (The percentage of Essex Property Trust Inc. Common Stock beneficially owned by The Vanguard Group as of December 29, 2023.)
• 21 — Amendment Number (This is the 21st amendment to Vanguard's Schedule 13G filing for Essex Property Trust Inc.)

Key Players & Entities

• The Vanguard Group (company) — reporting person and institutional investor
• Essex Property Trust Inc (company) — the issuer of the securities
• 10,037,709 shares (dollar_amount) — total shares beneficially owned by Vanguard
• 16.0% (dollar_amount) — percentage of class beneficially owned by Vanguard
• December 29, 2023 (date) — date of event requiring the filing

Forward-Looking Statements

• Vanguard will maintain a significant, albeit potentially slightly adjusted, stake in Essex Property Trust Inc. over the next year. (The Vanguard Group) — high confidence, target: 2025-02-13

FAQ

Filing Documents

• tv0876-essexpropertytrustinc.htm (SC 13G/A) — 11KB
• 0001104659-24-020876.txt ( ) — 13KB

(a) - Name of Issuer

Item 1(a) - Name of Issuer: Essex Property Trust Inc

(b) - Address of Issuer's Principal Executive Offices

Item 1(b) - Address of Issuer's Principal Executive Offices: 1100 Park Place, Suite 200 San Mateo, CA 94403

(a) - Name of Person Filing

Item 2(a) - Name of Person Filing: The Vanguard Group - 23-1945930

(b) – Address of Principal Business Office or, if none, residence

Item 2(b) – Address of Principal Business Office or, if none, residence: 100 Vanguard Blvd. Malvern, PA 19355

(c) – Citizenship

Item 2(c) – Citizenship: Pennsylvania

(d) - Title of Class of Securities

Item 2(d) - Title of Class of Securities: Common Stock

(e) - CUSIP Number

Item 2(e) - CUSIP Number 297178105

- Type of Filing

Item 3 - Type of Filing: This statement is being filed pursuant to Rule 13d-1. An investment adviser in accordance with 240.13d-1(b)(1)(ii)(E).

- Ownership

Item 4 - Ownership: (a) Amount Beneficially Owned: (b) Percent of Class: (c) Number of shares as to which such person has: (i) sole power to vote or direct to vote: (ii) shared power to vote or direct to vote: (iii) sole power to dispose of or to direct the disposition of: (iv) shared power to dispose or to direct the disposition of: Comments: The responses to questions 5 through 9 and 11 on the cover page(s) are incorporated by reference into this Item 4.

- Ownership of Five Percent or Less of a Class

Item 5 - Ownership of Five Percent or Less of a Class: If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than 5 percent of the class of securities, check the following

- Ownership of More Than Five Percent on Behalf of Another Person

Item 6 - Ownership of More Than Five Percent on Behalf of Another Person: The Vanguard Group, Inc.'s clients, including investment companies registered under the Investment Company Act of 1940 and other managed accounts, have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, the securities reported herein. No one other person's interest in the securities reported herein is more than 5%. Item 7 - Identification and Classification of the Subsidiary Which Acquired The Security Being Reported on by the Parent Holding Company: Not applicable

- Identification and Classification of Members of Group

Item 8 - Identification and Classification of Members of Group: Not applicable

- Notice of Dissolution of Group

Item 9 - Notice of Dissolution of Group: Not applicable

- Certification

Item 10 - Certification: By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under 240.14a-11. Signature After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct. Date: February 13, 2024 By /s/ Ashley Grim Name: Ashley Grim Title: Head of Global Fund Administration

View Full Filing

View this SC 13G/A filing on SEC EDGAR