Sumitomo Mitsui DS Asset Management Company Ltd Has $3.94 Million Stock Position in Essex Property Trust, Inc. (NYSE:ESS)

Sumitomo Mitsui DS Asset Management Company Ltd raised its position in shares of Essex Property Trust, Inc. (NYSE:ESS) by 2.8% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 15,890 shares of the real estate investment trust’s stock after purchasing an additional 428 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Essex Property Trust were worth $3,940,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in ESS. Northern Trust Corp lifted its holdings in Essex Property Trust by 6.1% in the third quarter. Northern Trust Corp now owns 978,639 shares of the real estate investment trust’s stock valued at $207,560,000 after buying an additional 55,903 shares during the period. American Century Companies Inc. boosted its position in shares of Essex Property Trust by 9.4% during the 3rd quarter. American Century Companies Inc. now owns 828,191 shares of the real estate investment trust’s stock valued at $175,651,000 after purchasing an additional 71,359 shares in the last quarter. Ameriprise Financial Inc. grew its stake in Essex Property Trust by 13.0% during the third quarter. Ameriprise Financial Inc. now owns 776,149 shares of the real estate investment trust’s stock worth $164,233,000 after purchasing an additional 89,198 shares during the period. Invesco Ltd. increased its holdings in Essex Property Trust by 5.4% in the third quarter. Invesco Ltd. now owns 643,250 shares of the real estate investment trust’s stock worth $136,427,000 after purchasing an additional 32,706 shares in the last quarter. Finally, Daiwa Securities Group Inc. lifted its stake in Essex Property Trust by 201.1% in the fourth quarter. Daiwa Securities Group Inc. now owns 534,964 shares of the real estate investment trust’s stock valued at $132,639,000 after buying an additional 357,268 shares during the period. Institutional investors own 96.51% of the company’s stock.

Essex Property Trust Stock Up 2.0 %

ESS opened at $239.89 on Tuesday. Essex Property Trust, Inc. has a fifty-two week low of $203.85 and a fifty-two week high of $252.85. The firm has a market capitalization of $15.40 billion, a P/E ratio of 38.02, a PEG ratio of 3.47 and a beta of 0.80. The company’s 50-day moving average is $237.58 and its 200 day moving average is $231.20. The company has a debt-to-equity ratio of 1.11, a current ratio of 3.26 and a quick ratio of 3.26.

Essex Property Trust Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, April 12th. Stockholders of record on Friday, March 29th were paid a $2.45 dividend. This represents a $9.80 dividend on an annualized basis and a dividend yield of 4.09%. The ex-dividend date of this dividend was Wednesday, March 27th. This is an increase from Essex Property Trust’s previous quarterly dividend of $2.31. Essex Property Trust’s payout ratio is presently 155.31%.

Wall Street Analyst Weigh In

ESS has been the subject of several research analyst reports. Piper Sandler reiterated an “overweight” rating and issued a $291.00 price objective on shares of Essex Property Trust in a research note on Tuesday, March 26th. Mizuho raised shares of Essex Property Trust from a “neutral” rating to a “buy” rating and decreased their price target for the company from $255.00 to $250.00 in a research note on Wednesday, February 28th. Barclays increased their price objective on shares of Essex Property Trust from $224.00 to $225.00 and gave the stock an “underweight” rating in a research report on Tuesday, February 20th. Deutsche Bank Aktiengesellschaft started coverage on Essex Property Trust in a research note on Tuesday, January 30th. They issued a “hold” rating and a $240.00 target price for the company. Finally, Stifel Nicolaus dropped their price target on Essex Property Trust from $225.00 to $223.00 and set a “hold” rating on the stock in a research note on Wednesday, February 7th. Four investment analysts have rated the stock with a sell rating, nine have issued a hold rating and six have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $245.37.

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.