Alyeska Investment Group L.P. Sells 193,695 Shares of Essex Property Trust, Inc. $ESS

Key Points

• Alyeska Investment Group cut its Essex Property Trust position by 77% in the second quarter, selling 193,695 shares and retaining 57,769 shares valued at approximately $16.8 million.
• Analysts remain broadly positive, with the stock carrying a “Moderate Buy” consensus rating and an average price target of $304.79; several firms recently upgraded the shares or raised their targets.
• Essex reported quarterly EPS of $4.08, well above the $1.46 consensus estimate, on revenue of $489.05 million. The stock opened at $283.26, compared with a 52-week range of $238.46 to $303.35.

Alyeska Investment Group L.P. reduced its position in Essex Property Trust, Inc. (NYSE:ESS - Free Report) by 77.0% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 57,769 shares of the real estate investment trust's stock after selling 193,695 shares during the quarter. Alyeska Investment Group L.P. owned approximately 0.09% of Essex Property Trust worth $16,845,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in ESS. Dorsey & Whitney Trust CO LLC grew its stake in shares of Essex Property Trust by 5.2% during the 4th quarter. Dorsey & Whitney Trust CO LLC now owns 814 shares of the real estate investment trust's stock worth $213,000 after acquiring an additional 40 shares during the period. Norinchukin Bank The raised its stake in Essex Property Trust by 0.6% in the 3rd quarter. Norinchukin Bank The now owns 6,957 shares of the real estate investment trust's stock valued at $1,862,000 after acquiring an additional 44 shares during the period. Kestra Private Wealth Services LLC lifted its holdings in Essex Property Trust by 1.7% during the first quarter. Kestra Private Wealth Services LLC now owns 3,047 shares of the real estate investment trust's stock valued at $737,000 after purchasing an additional 50 shares during the last quarter. EverSource Wealth Advisors LLC lifted 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, Valeo Financial Advisors LLC lifted its holdings in Essex Property Trust by 3.7% during the fourth quarter. Valeo Financial Advisors LLC now owns 2,034 shares of the real estate investment trust's stock valued at $532,000 after purchasing an additional 72 shares during the last quarter. 96.51% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. Citizens Jmp raised shares of Essex Property Trust from a "market perform" rating to an "outperform" rating and set a $330.00 price target on the stock in a research report on Friday, July 31st. Scotiabank raised their price objective on shares of Essex Property Trust from $290.00 to $307.00 and gave the stock an "outperform" rating in a report on Thursday, July 9th. Cantor Fitzgerald lifted their price objective on shares of Essex Property Trust from $291.00 to $316.00 and gave the company an "overweight" rating in a research note on Monday, August 3rd. Citigroup upgraded shares of Essex Property Trust from a "buy" rating to an "outperform" rating in a research note on Friday, July 31st. Finally, Royal Bank Of Canada increased their target price on Essex Property Trust from $306.00 to $312.00 and gave the stock an "outperform" rating in a research report on Friday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $304.79.

Essex Property Trust Stock Performance

NYSE:ESS opened at $283.26 on Tuesday. The stock has a market cap of $18.21 billion, a P/E ratio of 44.05, a PEG ratio of 10.39 and a beta of 0.69. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 1.22. The business's 50-day moving average price is $289.95 and its two-hundred day moving average price is $271.16. Essex Property Trust, Inc. has a twelve month low of $238.46 and a twelve month high of $303.35.

Essex Property Trust (NYSE:ESS - Get Free Report) last issued its quarterly earnings data on Wednesday, July 29th. The real estate investment trust reported $4.08 EPS for the quarter, topping the consensus estimate of $1.46 by $2.62. The company had revenue of $489.05 million during the quarter, compared to analyst estimates of $485.12 million. Essex Property Trust had a return on equity of 7.33% and a net margin of 21.48%.During the same quarter in the previous year, the firm earned $4.03 earnings per share. Essex Property Trust has set its Q3 2026 guidance at 3.930-4.050 EPS and its FY 2026 guidance at 16.030-16.250 EPS. As a group, equities analysts predict that Essex Property Trust, Inc. will post 16.18 EPS for the current fiscal year.

Essex Property Trust Profile

Essex Property Trust, Inc NYSE: ESS is a publicly traded real estate investment trust that acquires, develops, owns and operates multifamily residential properties. The company focuses on market-rate apartment communities and delivers a full suite of property services including leasing, resident services, asset management, and capital improvement programs designed to preserve and enhance long‑term property values.

Essex concentrates its portfolio in West Coast markets, with a significant presence in California and the Pacific Northwest.

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