Nomura Asset Management Co. Ltd. Purchases 11,659 Shares of Essex Property Trust, Inc. (NYSE:ESS)

Nomura Asset Management Co. Ltd. boosted its position in Essex Property Trust, Inc. (NYSE:ESS) by 6.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 207,089 shares of the real estate investment trust’s stock after acquiring an additional 11,659 shares during the period. Nomura Asset Management Co. Ltd. owned 0.32% of Essex Property Trust worth $51,346,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the company. Norges Bank acquired a new position in Essex Property Trust in the fourth quarter valued at about $675,183,000. 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. Russell Investments Group Ltd. lifted its stake in Essex Property Trust by 119.3% in the fourth quarter. Russell Investments Group Ltd. now owns 412,721 shares of the real estate investment trust’s stock valued at $102,602,000 after buying an additional 224,554 shares during the period. Wellington Management Group LLP lifted its stake in Essex Property Trust by 5,069.7% in the third quarter. Wellington Management Group LLP now owns 208,651 shares of the real estate investment trust’s stock valued at $44,253,000 after buying an additional 204,615 shares during the period. Finally, Ameriprise Financial Inc. lifted its stake in Essex Property Trust by 13.0% in the third quarter. Ameriprise Financial Inc. now owns 776,149 shares of the real estate investment trust’s stock valued at $164,233,000 after buying an additional 89,198 shares during the period. Institutional investors own 96.51% of the company’s stock.

Essex Property Trust Stock Up 0.6 %

ESS stock traded up $1.43 during mid-day trading on Friday, reaching $259.40. The company had a trading volume of 225,551 shares, compared to its average volume of 347,839. The company has a debt-to-equity ratio of 1.14, a current ratio of 3.19 and a quick ratio of 3.19. The stock has a 50 day simple moving average of $247.34 and a two-hundred day simple moving average of $238.08. The company has a market capitalization of $16.66 billion, a price-to-earnings ratio of 31.71, a PEG ratio of 3.74 and a beta of 0.79. Essex Property Trust, Inc. has a 52 week low of $203.85 and a 52 week high of $269.23.

Essex Property Trust Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 12th. Shareholders of record on Friday, June 28th will be paid a $2.45 dividend. The ex-dividend date of this dividend is Friday, June 28th. This represents a $9.80 dividend on an annualized basis and a yield of 3.78%. Essex Property Trust’s dividend payout ratio is 119.80%.

Analyst Ratings Changes

Several research firms have weighed in on ESS. Bank of America raised Essex Property Trust from a “neutral” rating to a “buy” rating and increased their target price for the company from $250.00 to $275.00 in a research note on Monday, April 1st. Royal Bank of Canada raised their price target on Essex Property Trust from $237.00 to $239.00 and gave the stock an “outperform” rating in a research report on Thursday, February 8th. Mizuho raised Essex Property Trust from a “neutral” rating to a “buy” rating and dropped their price target for the stock from $255.00 to $250.00 in a research report on Wednesday, February 28th. Wedbush raised their price target on Essex Property Trust from $240.00 to $264.00 and gave the stock a “neutral” rating in a research report on Monday, May 6th. Finally, Deutsche Bank Aktiengesellschaft started coverage on Essex Property Trust in a research report on Tuesday, January 30th. They set a “hold” rating and a $240.00 price target on the stock. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, Essex Property Trust presently has a consensus rating of “Hold” and a consensus target price of $255.28.

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.