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

Sumitomo Mitsui DS Asset Management Company Ltd boosted its position in shares of Essex Property Trust, Inc. (NYSE:ESS) by 2.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 15,890 shares of the real estate investment trust’s stock after purchasing an additional 428 shares during the period. 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 reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Lindbrook Capital LLC lifted its stake in Essex Property Trust by 111.5% in the fourth quarter. Lindbrook Capital LLC now owns 110 shares of the real estate investment trust’s stock valued at $27,000 after acquiring an additional 58 shares during the last quarter. Bruce G. Allen Investments LLC bought a new stake in Essex Property Trust in the fourth quarter worth $41,000. Bear Mountain Capital Inc. acquired a new position in Essex Property Trust during the fourth quarter worth $55,000. Blue Trust Inc. increased its holdings in shares of Essex Property Trust by 645.2% during the 4th quarter. Blue Trust Inc. now owns 231 shares of the real estate investment trust’s stock valued at $57,000 after acquiring an additional 200 shares during the last quarter. Finally, Tobam acquired a new position in Essex Property Trust during the fourth quarter valued at approximately $60,000. Hedge funds and other institutional investors own 96.51% of the company’s stock.

Essex Property Trust Stock Performance

Essex Property Trust stock opened at $239.89 on Tuesday. The firm has a market capitalization of $15.40 billion, a P/E ratio of 38.02, a P/E/G ratio of 3.47 and a beta of 0.80. The company has a debt-to-equity ratio of 1.11, a current ratio of 3.26 and a quick ratio of 3.26. The stock has a fifty day moving average price of $237.58 and a two-hundred day moving average price of $231.20. Essex Property Trust, Inc. has a 52-week low of $203.85 and a 52-week high of $252.85.

Essex Property Trust Increases Dividend

The company 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. The ex-dividend date was Wednesday, March 27th. This represents a $9.80 dividend on an annualized basis and a dividend yield of 4.09%. This is a boost from Essex Property Trust’s previous quarterly dividend of $2.31. Essex Property Trust’s payout ratio is 155.31%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on ESS shares. StockNews.com lowered shares of Essex Property Trust from a “hold” rating to a “sell” rating in a research note on Saturday, April 13th. Stifel Nicolaus lowered their price target on Essex Property Trust from $225.00 to $223.00 and set a “hold” rating on the stock in a research report on Wednesday, February 7th. Raymond James raised Essex Property Trust from a “market perform” rating to an “outperform” rating and set a $265.00 price objective for the company in a research report on Monday, March 18th. Morgan Stanley lifted their price target on Essex Property Trust from $227.00 to $230.00 and gave the stock an “equal weight” rating in a research report on Monday, February 26th. Finally, Royal Bank of Canada increased their price objective on Essex Property Trust from $237.00 to $239.00 and gave the company an “outperform” rating in a research report on Thursday, February 8th. Four analysts have rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $245.37.

About Essex Property Trust

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.