Daiwa Securities Group Inc. Buys 3,126 Shares of Essex Property Trust Inc (NYSE:ESS)

Daiwa Securities Group Inc. boosted its stake in shares of Essex Property Trust Inc (NYSE:ESS) by 0.2% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,793,019 shares of the real estate investment trust’s stock after buying an additional 3,126 shares during the period. Essex Property Trust accounts for 4.6% of Daiwa Securities Group Inc.’s investment portfolio, making the stock its 5th largest position. Daiwa Securities Group Inc.’s holdings in Essex Property Trust were worth $523,436,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ESS. Front Row Advisors LLC lifted its stake in shares of Essex Property Trust by 1,055.6% in the 1st quarter. Front Row Advisors LLC now owns 104 shares of the real estate investment trust’s stock valued at $30,000 after purchasing an additional 95 shares during the last quarter. Shine Investment Advisory Services Inc. acquired a new position in shares of Essex Property Trust in the 1st quarter valued at $32,000. Zions Bancorporation N.A. acquired a new position in shares of Essex Property Trust in the 1st quarter valued at $33,000. Pearl River Capital LLC acquired a new position in shares of Essex Property Trust in the 1st quarter valued at $38,000. Finally, Flagship Harbor Advisors LLC lifted its stake in shares of Essex Property Trust by 243.9% in the 2nd quarter. Flagship Harbor Advisors LLC now owns 141 shares of the real estate investment trust’s stock valued at $41,000 after purchasing an additional 100 shares during the last quarter. 97.63% of the stock is currently owned by institutional investors.

ESS opened at $305.39 on Friday. The business’s 50-day moving average price is $300.10. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.92. Essex Property Trust Inc has a 12-month low of $234.37 and a 12-month high of $310.54. The firm has a market cap of $19.86 billion, a price-to-earnings ratio of 24.30, a price-to-earnings-growth ratio of 3.94 and a beta of 0.37.

Essex Property Trust (NYSE:ESS) last issued its quarterly earnings results on Wednesday, July 24th. The real estate investment trust reported $1.40 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $3.26 by ($1.86). Essex Property Trust had a return on equity of 6.43% and a net margin of 28.83%. The company had revenue of $361.64 million for the quarter, compared to analysts’ expectations of $358.15 million. During the same quarter last year, the company earned $3.14 EPS. On average, research analysts anticipate that Essex Property Trust Inc will post 13.27 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Friday, July 12th. Shareholders of record on Friday, June 28th were issued a dividend of $1.95 per share. The ex-dividend date of this dividend was Thursday, June 27th. This represents a $7.80 annualized dividend and a yield of 2.55%. Essex Property Trust’s dividend payout ratio (DPR) is 62.05%.

Several equities analysts have recently commented on ESS shares. KeyCorp upped their price target on Essex Property Trust from $311.00 to $320.00 and gave the company an “overweight” rating in a research note on Wednesday. Barclays upped their price target on Essex Property Trust from $310.00 to $328.00 and gave the company an “overweight” rating in a research note on Tuesday, July 16th. Robert W. Baird lowered Essex Property Trust from an “outperform” rating to a “neutral” rating and upped their price target for the company from $297.00 to $302.00 in a research note on Tuesday, June 18th. Citigroup increased their target price on Essex Property Trust from $280.00 to $300.00 and gave the stock a “neutral” rating in a research note on Tuesday. Finally, Morgan Stanley increased their target price on Essex Property Trust from $292.00 to $320.00 and gave the stock an “overweight” rating in a research note on Thursday, June 27th. Ten investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $294.17.

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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