Nomura Holdings Inc. Acquires 6,428 Shares of Essex Property Trust, Inc. $ESS

Key Points

• Nomura Holdings Inc. increased its position in Essex Property Trust, Inc. by 67.1% in the first quarter, acquiring an additional 6,428 shares, bringing its total holdings to 16,004 shares valued at approximately $4.9 million.
• Essex Property Trust posted earnings of $4.03 per share, exceeding analysts' expectations of $3.99, and reported a revenue of $465.84 million for the quarter.
• Institutional investors own 96.51% of Essex Property Trust's stock, indicating strong support from major financial entities.

Nomura Holdings Inc. increased its holdings in Essex Property Trust, Inc. (NYSE:ESS - Free Report) by 67.1% in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 16,004 shares of the real estate investment trust's stock after purchasing an additional 6,428 shares during the period. Nomura Holdings Inc.'s holdings in Essex Property Trust were worth $4,906,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in ESS. Mercer Global Advisors Inc. ADV boosted its position in Essex Property Trust by 121.8% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 11,549 shares of the real estate investment trust's stock valued at $3,297,000 after buying an additional 6,342 shares during the period. Ameriprise Financial Inc. lifted its position in shares of Essex Property Trust by 3.2% in the 4th quarter. Ameriprise Financial Inc. now owns 801,813 shares of the real estate investment trust's stock worth $227,398,000 after purchasing an additional 24,936 shares during the period. Algert Global LLC purchased a new stake in shares of Essex Property Trust in the 4th quarter worth about $374,000. Baird Financial Group Inc. lifted its position in shares of Essex Property Trust by 1.7% in the 4th quarter. Baird Financial Group Inc. now owns 79,125 shares of the real estate investment trust's stock worth $22,585,000 after purchasing an additional 1,311 shares during the period. Finally, Carronade Capital Management LP lifted its position in shares of Essex Property Trust by 5.2% in the 4th quarter. Carronade Capital Management LP now owns 14,374 shares of the real estate investment trust's stock worth $4,103,000 after purchasing an additional 709 shares during the period. Hedge funds and other institutional investors own 96.51% of the company's stock.

Analysts Set New Price Targets

ESS has been the subject of several research analyst reports. Barclays dropped their target price on shares of Essex Property Trust from $335.00 to $298.00 and set an "equal weight" rating for the company in a research report on Tuesday, August 12th. Wells Fargo & Company dropped their target price on shares of Essex Property Trust from $325.00 to $279.00 and set an "equal weight" rating for the company in a research report on Wednesday, August 27th. Truist Financial decreased their price target on shares of Essex Property Trust from $295.00 to $283.00 and set a "hold" rating for the company in a research note on Tuesday, August 12th. UBS Group decreased their price target on shares of Essex Property Trust from $297.00 to $295.00 and set a "neutral" rating for the company in a research note on Tuesday, July 15th. Finally, Stifel Nicolaus increased their price target on shares of Essex Property Trust from $301.50 to $305.50 and gave the stock a "hold" rating in a research note on Wednesday, July 30th. Seven equities research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, Essex Property Trust has an average rating of "Hold" and a consensus price target of $300.44.

Essex Property Trust Price Performance

NYSE:ESS traded up $3.59 during trading hours on Friday, hitting $268.09. 418,315 shares of the stock traded hands, compared to its average volume of 389,105. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 1.16. Essex Property Trust, Inc. has a 1 year low of $243.85 and a 1 year high of $317.73. The company has a market cap of $17.27 billion, a price-to-earnings ratio of 21.55, a price-to-earnings-growth ratio of 6.89 and a beta of 0.83. The stock has a 50 day moving average price of $272.24 and a 200 day moving average price of $281.57.

Essex Property Trust (NYSE:ESS - Get Free Report) last released its quarterly earnings data on Tuesday, July 29th. The real estate investment trust reported $4.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.99 by $0.04. The firm had revenue of $465.84 million for the quarter, compared to analysts' expectations of $466.47 million. Essex Property Trust had a net margin of 43.51% and a return on equity of 13.98%. During the same quarter last year, the business posted $3.94 earnings per share. Essex Property Trust has set its Q3 2025 guidance at 3.890-3.990 EPS. FY 2025 guidance at 15.800-16.020 EPS. Sell-side analysts forecast that Essex Property Trust, Inc. will post 15.96 EPS for the current fiscal year.

Essex Property Trust Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th will be given a dividend of $2.57 per share. The ex-dividend date is Tuesday, September 30th. This represents a $10.28 annualized dividend and a dividend yield of 3.8%. Essex Property Trust's dividend payout ratio (DPR) is presently 82.64%.

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 252 apartment communities comprising approximately 62,000 apartment homes with an additional property in active development.