Published on 12 Jan 2022 on Insider Monkey via Yahoo Finance
In this article we will check out the progression of hedge fund sentiment towards Essex Property Trust Inc (NYSE:ESS) and determine whether it is a good investment right now. We at Insider Monkey like to examine what billionaires and hedge funds think of a company before spending days of research on it. Given their 2 and 20 payment structure, hedge funds have more incentives and resources than the average investor. The funds have access to expert networks and get tips from industry insiders. They also employ numerous Ivy League graduates and MBAs. Like everyone else, hedge funds perform miserably at times, but their consensus picks have historically outperformed the market after risk adjustments.
Essex Property Trust Inc (NYSE:ESS) shares haven't seen a lot of action during the second quarter. Overall, hedge fund sentiment was unchanged. The stock was in 21 hedge funds' portfolios at the end of the third quarter of 2021. Our calculations also showed that ESS isn't among the 30 most popular stocks among hedge funds (click for Q2 rankings). At the end of this article we will also compare ESS to other stocks including MGM Resorts International (NYSE:MGM), Trimble Inc. (NASDAQ:TRMB), and KeyCorp (NYSE:KEY) to get a better sense of its popularity.
At Insider Monkey, we scour multiple sources to uncover the next great investment idea. For example, lithium prices have more than doubled over the past year, so we go through lists like the 10 best EV stocks to pick the next Tesla that will deliver a 10x return. Even though we recommend positions in only a tiny fraction of the companies we analyze, we check out as many stocks as we can. Keeping this in mind we're going to check out the recent hedge fund action encompassing Essex Property Trust Inc (NYSE:ESS).