Fox Run Management L.L.C. Has $498,000 Position in Essex Property Trust, Inc. $ESS

Key Points

• Fox Run Management L.L.C. has decreased its stake in Essex Property Trust by 46.0%, now holding 1,623 shares worth approximately $498,000.
• Equities analysts are divided on Essex Property Trust, with a consensus rating of "Hold" and a target price around $302.86, while recent reports show adjustments from several firms.
• In its latest earnings report, Essex Property Trust exceeded earnings expectations with an EPS of $4.03, providing guidance of 15.96 EPS for the current year.

Fox Run Management L.L.C. trimmed its position in shares of Essex Property Trust, Inc. (NYSE:ESS - Free Report) by 46.0% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,623 shares of the real estate investment trust's stock after selling 1,384 shares during the period. Fox Run Management L.L.C.'s holdings in Essex Property Trust were worth $498,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of ESS. Wealthquest Corp bought a new stake in shares of Essex Property Trust in the first quarter valued at about $384,606,000. GAMMA Investing LLC lifted its stake in shares of Essex Property Trust by 35,500.1% in the first quarter. GAMMA Investing LLC now owns 448,205 shares of the real estate investment trust's stock valued at $137,406,000 after buying an additional 446,946 shares during the period. Northern Trust Corp lifted its stake in shares of Essex Property Trust by 56.0% in the fourth quarter. Northern Trust Corp now owns 1,127,830 shares of the real estate investment trust's stock valued at $321,928,000 after buying an additional 404,892 shares during the period. Nuveen LLC bought a new stake in shares of Essex Property Trust in the first quarter valued at about $91,014,000. Finally, JPMorgan Chase & Co. lifted its stake in shares of Essex Property Trust by 65.1% in the first quarter. JPMorgan Chase & Co. now owns 725,896 shares of the real estate investment trust's stock valued at $222,538,000 after buying an additional 286,345 shares during the period. 96.51% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

ESS has been the subject of several research reports. Raymond James Financial upgraded shares of Essex Property Trust from a "market perform" rating to an "outperform" rating and set a $315.00 target price for the company in a research note on Tuesday, June 24th. UBS Group reduced their target price 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. Piper Sandler cut shares of Essex Property Trust from an "overweight" rating to a "neutral" rating and reduced their target price for the company from $355.00 to $275.00 in a research note on Monday, August 4th. Wall Street Zen upgraded shares of Essex Property Trust from a "sell" rating to a "hold" rating in a research note on Saturday, August 2nd. Finally, Truist Financial cut 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. Seven equities research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $302.86.

Essex Property Trust Price Performance

Shares of NYSE ESS traded up $0.3960 during mid-day trading on Thursday, hitting $262.4360. 344,608 shares of the stock were exchanged, compared to its average volume of 492,986. The company has a market cap of $16.90 billion, a P/E ratio of 21.10, a PEG ratio of 6.75 and a beta of 0.80. The stock's fifty day simple moving average is $276.85 and its two-hundred day simple moving average is $283.69. The company has a debt-to-equity ratio of 1.16, a quick ratio of 1.09 and a current ratio of 1.09. Essex Property Trust, Inc. has a twelve month low of $243.85 and a twelve month high of $317.73.

Essex Property Trust (NYSE:ESS - Get Free Report) last posted its quarterly earnings data on Tuesday, July 29th. The real estate investment trust reported $4.03 earnings per share for the quarter, topping the consensus estimate of $3.99 by $0.04. The company had revenue of $465.84 million during the quarter, compared to analyst estimates 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. As a group, analysts forecast that Essex Property Trust, Inc. will post 15.96 EPS for the current fiscal year.

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.