Nomura Asset Management Co. Ltd. Has $17.03 Million Position in Essex Property Trust Inc (NYSE:ESS)

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Nomura Asset Management Co. Ltd. boosted its position in shares of Essex Property Trust Inc (NYSE:ESS) by 33.9% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 77,332 shares of the real estate investment trust’s stock after purchasing an additional 19,559 shares during the quarter. Nomura Asset Management Co. Ltd. owned 0.12% of Essex Property Trust worth $17,031,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ESS. Norges Bank acquired a new position in shares of Essex Property Trust in the fourth quarter valued at approximately $492,181,000. Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in shares of Essex Property Trust by 61.6% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 579,931 shares of the real estate investment trust’s stock valued at $127,724,000 after buying an additional 221,074 shares during the period. Centersquare Investment Management LLC boosted its holdings in shares of Essex Property Trust by 122.6% in the first quarter. Centersquare Investment Management LLC now owns 288,110 shares of the real estate investment trust’s stock valued at $63,453,000 after buying an additional 158,670 shares during the period. Principal Financial Group Inc. boosted its holdings in shares of Essex Property Trust by 6.0% in the first quarter. Principal Financial Group Inc. now owns 2,290,651 shares of the real estate investment trust’s stock valued at $504,483,000 after buying an additional 130,160 shares during the period. Finally, Mitsubishi UFJ Trust & Banking Corp boosted its holdings in shares of Essex Property Trust by 177.0% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 187,559 shares of the real estate investment trust’s stock valued at $41,308,000 after buying an additional 119,848 shares during the period. Hedge funds and other institutional investors own 94.55% of the company’s stock.

NYSE ESS traded down $14.79 on Thursday, hitting $245.51. 218,933 shares of the stock were exchanged, compared to its average volume of 549,114. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.64 and a quick ratio of 1.64. The business’s fifty day moving average is $243.45 and its 200 day moving average is $275.74. Essex Property Trust Inc has a 52 week low of $175.81 and a 52 week high of $334.17. The company has a market capitalization of $17.17 billion, a PE ratio of 25.73, a P/E/G ratio of 5.39 and a beta of 0.69.

Essex Property Trust (NYSE:ESS) last posted its quarterly earnings results on Wednesday, May 6th. The real estate investment trust reported $4.76 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $3.40 by $1.36. Essex Property Trust had a net margin of 42.47% and a return on equity of 9.94%. The firm had revenue of $392.37 million for the quarter, compared to analyst estimates of $383.23 million. During the same period in the prior year, the firm posted $3.23 earnings per share. Analysts predict that Essex Property Trust Inc will post 13.35 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th will be given a dividend of $2.0775 per share. This represents a $8.31 annualized dividend and a yield of 3.38%. The ex-dividend date of this dividend is Monday, June 29th. Essex Property Trust’s dividend payout ratio (DPR) is currently 62.11%.

ESS has been the subject of several research analyst reports. Morgan Stanley cut shares of Essex Property Trust from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from $354.00 to $203.00 in a report on Wednesday, April 1st. Zelman & Associates upgraded shares of Essex Property Trust from a “sell” rating to a “hold” rating in a report on Wednesday, March 25th. Goldman Sachs Group cut shares of Essex Property Trust from a “buy” rating to a “neutral” rating and reduced their price target for the company from $320.00 to $238.00 in a report on Thursday, April 2nd. Citigroup reduced their price target on shares of Essex Property Trust from $320.00 to $210.00 and set a “neutral” rating for the company in a report on Tuesday, April 7th. Finally, Stifel Nicolaus increased their target price on shares of Essex Property Trust from $248.00 to $270.00 and gave the stock a “buy” rating in a report on Friday, May 8th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have given a buy rating to the company. The company has an average rating of “Hold” and an average target price of $292.07.

Essex Property Trust 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 245 apartment communities with an additional 6 properties in various stages of active development.

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Institutional Ownership by Quarter for Essex Property Trust (NYSE:ESS)

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