State Street Corp Amends 13G/A, Holds 10.6% of Essex Property Trust
Ticker: ESS · Form: SC 13G/A · Filed: Jan 30, 2024 · CIK: 920522
| Field | Detail |
|---|---|
| Company | Essex Property Trust, Inc. (ESS) |
| Form Type | SC 13G/A |
| Filed Date | Jan 30, 2024 |
| Risk Level | low |
| Sentiment | bullish |
Complexity: simple
Sentiment: bullish
Topics: institutional-ownership, amended-filing, REIT, passive-investment
TL;DR
**State Street still owns a big chunk of Essex Property Trust, showing institutional confidence.**
AI Summary
State Street Corp filed an amended SC 13G/A on January 30, 2024, indicating its ownership in Essex Property Trust Inc. As of December 31, 2023, State Street Corp reported beneficial ownership of 7,000,000 shares, representing 10.6% of the REIT's common stock. This filing is important for investors as it shows a major institutional investor maintains a significant stake, potentially signaling confidence in Essex Property Trust's long-term prospects.
Why It Matters
This filing confirms State Street Corp's continued substantial investment in Essex Property Trust, which can influence market perception and potentially provide stability to the stock.
Risk Assessment
Risk Level: low — The filing indicates a stable, significant institutional ownership, which generally reduces volatility and risk for other investors.
Analyst Insight
Investors should view this as a positive signal, as a large institutional holder like State Street Corp maintaining a significant stake suggests confidence in Essex Property Trust's value. This could be a factor to consider when evaluating the stock for long-term investment.
Key Numbers
- 7,000,000 — Shares Beneficially Owned (Represents the total number of shares of Essex Property Trust Inc. common stock held by State Street Corp as of December 31, 2023.)
- 10.6% — Percentage of Class Outstanding (Indicates the significant stake State Street Corp holds in Essex Property Trust Inc., signaling a strong institutional presence.)
Key Players & Entities
- State Street Corp (company) — the entity filing the SC 13G/A, reporting beneficial ownership
- Essex Property Trust Inc (company) — the subject company whose securities are being reported
- 7,000,000 (dollar_amount) — the number of shares beneficially owned by State Street Corp
- 10.6% (dollar_amount) — the percentage of class outstanding beneficially owned by State Street Corp
- December 31, 2023 (date) — the date of the event which required the filing of this statement
Forward-Looking Statements
- State Street Corp will maintain a significant stake in Essex Property Trust Inc. (State Street Corp) — medium confidence, target: Q4 2024
FAQ
What is the purpose of this SC 13G/A filing?
This SC 13G/A filing is an amendment by State Street Corp to report its beneficial ownership of securities in Essex Property Trust Inc. as of December 31, 2023, under Rule 13D-1(B).
Who is the reporting person in this filing?
The reporting person is State Street Corp, a financial institution with its business address at 1 Congress Street, Suite 1, Boston, MA 02114.
What is the subject company of this filing?
The subject company is Essex Property Trust Inc., a Real Estate Investment Trust (REIT) with its business address at 1100 Park Place, Suite 200, San Mateo, CA 94403.
How many shares of Essex Property Trust Inc. does State Street Corp beneficially own according to this filing?
State Street Corp beneficially owns 7,000,000 shares of Essex Property Trust Inc. common stock as of December 31, 2023.
What percentage of Essex Property Trust Inc.'s outstanding shares does State Street Corp own?
State Street Corp owns 10.6% of the class of outstanding securities of Essex Property Trust Inc., specifically the REIT common stock.
Filing Details
This Form SC 13G/A (Form SC 13G/A) was filed with the SEC on January 30, 2024 regarding ESSEX PROPERTY TRUST, INC. (ESS).