Essex Property Trust, Inc. $ESS Shares Newly Acquired by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Essex Property Trust, Inc. (NYSE:ESS) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 23,756 shares of the real estate investment trust’s stock, valued at approximately $6,400,000.

A number of other institutional investors have also made changes to their positions in ESS. Robertson Stephens Wealth Management LLC lifted its holdings in Essex Property Trust by 5.5% in the 3rd quarter. Robertson Stephens Wealth Management LLC now owns 787 shares of the real estate investment trust’s stock worth $214,000 after purchasing an additional 41 shares during the last quarter. Revisor Wealth Management LLC grew its holdings in Essex Property Trust by 3.8% during the third quarter. Revisor Wealth Management LLC now owns 1,370 shares of the real estate investment trust’s stock valued at $369,000 after purchasing an additional 50 shares during the last quarter. Aprio Wealth Management LLC grew its holdings in Essex Property Trust by 7.0% during the third quarter. Aprio Wealth Management LLC now owns 780 shares of the real estate investment trust’s stock valued at $210,000 after purchasing an additional 51 shares during the last quarter. EverSource Wealth Advisors LLC grew its holdings in Essex Property Trust by 31.2% during the first quarter. EverSource Wealth Advisors LLC now owns 265 shares of the real estate investment trust’s stock valued at $64,000 after purchasing an additional 63 shares during the last quarter. Finally, North Dakota State Investment Board raised its position in shares of Essex Property Trust by 3.4% in the third quarter. North Dakota State Investment Board now owns 1,959 shares of the real estate investment trust’s stock valued at $528,000 after purchasing an additional 64 shares during the period. 96.51% of the stock is owned by institutional investors.

Analyst Ratings Changes

ESS has been the subject of a number of analyst reports. Stifel Nicolaus reduced their price objective on shares of Essex Property Trust from $292.75 to $285.50 and set a “hold” rating for the company in a research note on Wednesday, October 28th. Barclays decreased their price objective on shares of Essex Property Trust from $297.00 to $285.00 and set an “equal weight” rating for the company in a report on Wednesday, October 14th. Jefferies Financial Group upgraded shares of Essex Property Trust to a “strong-buy” rating in a research note on Wednesday, July 22nd. Wall Street Zen downgraded shares of Essex Property Trust from a “hold” rating to a “sell” rating in a report on Saturday, August 1st. Finally, Citizens Jmp raised shares of Essex Property Trust from a “market perform” rating to an “outperform” rating and set a $330.00 target price for the company in a research report on Friday, July 31st. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $298.27.

Essex Property Trust Stock Performance

ESS opened at $271.58 on Friday. The firm has a market capitalization of $17.47 billion, a P/E ratio of 50.39, a price-to-earnings-growth ratio of 9.60 and a beta of 0.69. The stock’s 50 day moving average price is $272.71 and its two-hundred day moving average price is $269.97. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 1.21. Essex Property Trust, Inc. has a 12-month low of $238.46 and a 12-month high of $303.35.

Essex Property Trust (NYSE:ESS) last issued its quarterly earnings results on Tuesday, October 27th. The real estate investment trust reported $1.52 EPS for the quarter, missing the consensus estimate of $4.01 by ($2.49). Essex Property Trust had a return on equity of 6.24% and a net margin of 17.84%. The business had revenue of $492.69 million during the quarter, compared to the consensus estimate of $491.01 million. During the same period in the prior year, the firm earned $3.97 earnings per share. On average, equities analysts forecast that Essex Property Trust, Inc. will post 16.17 earnings per share for the current year.

Essex Property Trust Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 15th. Investors of record on Wednesday, September 30th were given a dividend of $2.59 per share. The ex-dividend date of this dividend was Wednesday, September 30th. This represents a $10.36 dividend on an annualized basis and a yield of 3.8%. Essex Property Trust’s payout ratio is 192.21%.

Essex Property Trust Company Profile

Essex Property Trust, Inc is a self-administered and self-managed real estate investment trust that owns, develops, redevelops, and manages multifamily apartment communities. The company focuses on providing rental housing in high-demand markets and generates revenue primarily from apartment rents and related resident services.

Founded in 1971 and headquartered in San Mateo, California, Essex operates primarily in Southern California, the San Francisco Bay Area, and the Seattle metropolitan area.