Sumitomo Mitsui DS Asset Management Company Ltd Has $5.52 Million Stake in Essex Property Trust, Inc. (NYSE:ESS)

Sumitomo Mitsui DS Asset Management Company Ltd grew its position in Essex Property Trust, Inc. (NYSE:ESS) by 3.1% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 18,670 shares of the real estate investment trust’s stock after purchasing an additional 558 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Essex Property Trust were worth $5,515,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. State Board of Administration of Florida Retirement System raised its position in Essex Property Trust by 2.6% during the first quarter. State Board of Administration of Florida Retirement System now owns 81,456 shares of the real estate investment trust’s stock valued at $19,941,000 after purchasing an additional 2,083 shares in the last quarter. Canada Pension Plan Investment Board increased its stake in shares of Essex Property Trust by 8.7% in the 1st quarter. Canada Pension Plan Investment Board now owns 225,045 shares of the real estate investment trust’s stock valued at $55,093,000 after purchasing an additional 18,000 shares during the last quarter. Mizuho Markets Americas LLC increased its stake in shares of Essex Property Trust by 107.9% in the 1st quarter. Mizuho Markets Americas LLC now owns 43,802 shares of the real estate investment trust’s stock valued at $10,723,000 after purchasing an additional 22,736 shares during the last quarter. ORG Partners LLC acquired a new position in shares of Essex Property Trust during the 2nd quarter worth $743,000. Finally, Caxton Associates LP bought a new stake in shares of Essex Property Trust during the 1st quarter worth $532,000. Institutional investors own 96.51% of the company’s stock.

Essex Property Trust Stock Up 0.8 %

Shares of Essex Property Trust stock opened at $296.50 on Friday. The stock’s 50-day moving average is $296.55 and its 200 day moving average is $275.88. Essex Property Trust, Inc. has a one year low of $203.85 and a one year high of $317.73. The firm has a market cap of $19.04 billion, a price-to-earnings ratio of 36.25, a PEG ratio of 5.21 and a beta of 0.88. The company has a debt-to-equity ratio of 1.11, a current ratio of 1.62 and a quick ratio of 1.62.

Essex Property Trust (NYSE:ESS) last posted its quarterly earnings results on Tuesday, July 30th. The real estate investment trust reported $1.45 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.85 by ($2.40). The business had revenue of $442.36 million for the quarter, compared to the consensus estimate of $433.26 million. Essex Property Trust had a return on equity of 9.14% and a net margin of 30.31%. During the same quarter in the previous year, the company posted $3.77 earnings per share. Equities research analysts anticipate that Essex Property Trust, Inc. will post 15.55 EPS for the current year.

Essex Property Trust Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Monday, September 30th were paid a $2.45 dividend. This represents a $9.80 annualized dividend and a yield of 3.31%. The ex-dividend date of this dividend was Monday, September 30th. Essex Property Trust’s dividend payout ratio (DPR) is currently 119.80%.

Insider Activity at Essex Property Trust

In other Essex Property Trust news, Director Amal M. Johnson sold 2,453 shares of the business’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $300.00, for a total transaction of $735,900.00. Following the completion of the sale, the director now owns 2,585 shares in the company, valued at approximately $775,500. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, Director Amal M. Johnson sold 2,453 shares of the company’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $300.00, for a total value of $735,900.00. Following the sale, the director now owns 2,585 shares in the company, valued at $775,500. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Amal M. Johnson sold 7,298 shares of the business’s stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $316.31, for a total value of $2,308,430.38. Following the sale, the director now directly owns 2,585 shares of the company’s stock, valued at $817,661.35. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 20,402 shares of company stock valued at $6,399,663 in the last three months. Corporate insiders own 3.80% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Piper Sandler lifted their target price on Essex Property Trust from $315.00 to $355.00 and gave the company an “overweight” rating in a research report on Monday, August 26th. The Goldman Sachs Group started coverage on Essex Property Trust in a research report on Wednesday, September 4th. They issued a “neutral” rating and a $318.00 target price for the company. Evercore ISI boosted their price target on Essex Property Trust from $283.00 to $287.00 and gave the stock an “in-line” rating in a report on Monday, September 16th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Essex Property Trust from $240.00 to $308.00 and gave the stock a “hold” rating in a research report on Tuesday, September 10th. Finally, Bank of America cut shares of Essex Property Trust from a “buy” rating to a “neutral” rating and upped their price target for the company from $307.00 to $321.00 in a research report on Tuesday, September 24th. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, Essex Property Trust has an average rating of “Hold” and an average target price of $293.40.

Essex Property Trust Company Profile

Essex Property Trust, Inc, an S&P 500 company, is a fully integrated real estate investment trust (REIT) that acquires, develops, redevelops, and manages multifamily residential properties in selected West Coast markets. Essex currently has ownership interests in 252 apartment communities comprising approximately 62,000 apartment homes with an additional property in active development.