Essex Property Trust, Inc. (ESS)
| Market Cap | 18.84B |
| Revenue (ttm) | 1.72B |
| Net Income (ttm) | 518.32M |
| Shares Out | 64.22M |
| EPS (ttm) | 8.07 |
| PE Ratio | 36.36 |
| Forward PE | 51.60 |
| Dividend | $9.80 (3.34%) |
| Ex-Dividend Date | Sep 30, 2024 |
| Volume | 140,440 |
| Open | 290.91 |
| Previous Close | 291.37 |
| Day's Range | 290.91 - 294.88 |
| 52-Week Range | 203.85 - 317.73 |
| Beta | 0.89 |
| Analysts | Hold |
| Price Target | 282.37 (-3.76%) |
| Earnings Date | Oct 29, 2024 |
About ESS
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 254 apartment communities comprising approximately 62,000 apartment homes. [Read more]
Financial Performance
In 2023, Essex Property Trust's revenue was $1.68 billion, an increase of 2.89% compared to the previous year's $1.63 billion. Earnings were $405.83 million, a decrease of -0.61%.
Financial StatementsAnalyst Forecast
According to 20 analysts, the average rating for ESS stock is "Hold." The 12-month stock price forecast is $282.37, which is a decrease of -3.76% from the latest price.
News
Assessing The Impact Of Mortgage Rates On REITs
Historically, REITs outperform the S&P 500 after rising interest rates, with recent data showing a 25% return from May to September 2024. Mortgage rates impact REITs differently, with lower rates boos...
Essex Announces Release and Conference Call Dates for Its Third Quarter 2024 Earnings
SAN MATEO, Calif.--(BUSINESS WIRE)--Essex Property Trust, Inc. (NYSE:ESS) announced today that it plans to release its third quarter 2024 earnings after the market closes on Tuesday, October 29, 2024....
Essex Property Trust: Tailwinds From Both Supply And Demand
Essex Property Trust has shown impressive stock price appreciation, gaining approximately 40% in one year and outperforming all its residential peers in the S&P 500. The REIT is set to benefit from fa...
Essex Property Trust Declares Quarterly Distributions
SAN MATEO, Calif.--(BUSINESS WIRE)--Essex Property Trust, Inc. (NYSE:ESS) announced today that its Board of Directors has declared a regular quarterly cash dividend of $2.45 per common share, payable ...
Essex Property Trust Prices $200 Million Add-On Offering of its Senior Notes Due 2034 with a Reoffer Yield of 5.110%
SAN MATEO, Calif.--(BUSINESS WIRE)--Essex Property Trust, Inc. (NYSE: ESS) (“Essex”) announced today that its operating partnership, Essex Portfolio, L.P. (the “Issuer”), priced an underwritten public...
Essex Property Trust: High-Quality REIT With A Growing Dividend
Essex Property Trust focuses on three different supply-constrained markets across the US West Coast. Both enduring demand and limited supply are working in its favor. It has increased its dividend for...
The 'X' Factor For Public REITs
The next cycle for public REITs could be more similar to those of the 1990s and early 2000s than one of the past 14 years. In prior cycles, public REITs enjoyed a cost of capital that allowed for sign...
Essex Property Trust, Inc. (ESS) Q2 2024 Earnings Call Transcript
Essex Property Trust, Inc. (NYSE:ESS) Q2 2024 Earnings Conference Call July 31, 2024 1:00 PM ET Company Participants Angela Kleiman - President and CEO Barb Pak - CFO & EVP Rylan Burns - EVP and Chie...
Essex Announces Second Quarter 2024 Results and Raises Full-Year 2024 Guidance
SAN MATEO, Calif.--(BUSINESS WIRE)--Essex Property Trust, Inc. (NYSE: ESS) (the “Company”) announced today its second quarter 2024 earnings results and related business activities. Net Income, Funds f...
Become A Multifamily Millionaire
Landlords face challenges when tenants stop paying rent, especially with single-family homes. Apartment buildings with multiple units provide more stability, while owning a portfolio of multifamily bu...
If I Had To Retire Today With 12 REITs
REITs are structured for income investors, obligated to pay out 90% of earnings to shareholders, making them an income-producing vehicle. REITs are undervalued and positioned to do well as the rate cu...
Essex Announces Release and Conference Call Dates for Its Second Quarter 2024 Earnings
SAN MATEO, Calif.--(BUSINESS WIRE)--Essex Property Trust, Inc. (NYSE:ESS) announced today that it plans to release its second quarter 2024 earnings after the market closes on Tuesday, July 30, 2024. A...
8 Stocks I'm Buying As A Resurgent Trade War Looms
Economic data suggests a recession may be looming, with signs of weakening in the labor market and consumer spending. Investing based on politics is not recommended, as market reactions to political e...
A Rare Buying Opportunity Before A Big Market Reversal Takes Place
Peter Lynch recently observed that the market has been behaving very abnormally recently, creating a rare and incredible buying opportunity. We discuss why this is. We also share some of our top picks...
Top 4 Real Estate Stocks That May Plunge This Month
As of June 17, 2024, four stocks in the real estate sector could be flashing a real warning to investors who value momentum as a key criteria in their trading decisions.
Essex Property Trust: The Buying Window Has Now Closed
Shares of Essex Property Trust have significantly outperformed the broader market since my previous article. The residential real estate investment trust topped the analyst consensus for revenue and c...
State Of REIT Nation: Waiting At The Bottom
REITweek, the annual REIT industry conference, was held last week in New York City. Humbled by two years of rate-driven headwinds, the venue halls were as quiet as any REITweek. Excitement was muted a...
Essex Property Trust CEO on rent inflation and state of the apartment market
Essex Property Trust CEO Angela Kleiman sits down with CNBC's Diana Olick to discuss the slowdown of apartment building construction, continued supply and affordability challenges, and more.
Why I Buy Rental Property REITs Instead Of Rental Properties
Many investors - including several of my friends - like investing in rental properties. However, I have chosen the path of rental property REITs instead. I share 8 major advantages that rental propert...
Essex Property Trust: 3 Reasons Why The Stock May Be Overvalued
Essex Property Trust's fixed income offering is trading at a higher yield than their cap rate, suggesting that they are currently overvalued. The absence of share buyback activity by management suppor...
Essex Property Trust Publishes Sixth Annual ESG Report
SAN MATEO, Calif.--(BUSINESS WIRE)--Essex Property Trust, Inc. (NYSE:ESS) announces the publication of its 2023 Environmental, Social, and Governance (“ESG”) Report which highlights the Company's nota...
Private REITs 101 Revisited: Do You Invest In BREIT Or A Diverse Public REIT Portfolio?
Blackstone's NAV REIT, BREIT, raised $66 billion from 2017 to 2022, surpassing all publicly-listed REITs in equity raised in 2022 alone. BREIT's ability to redeem shares at reported NAV distinguishes ...
Essex Property Trust, Inc. (ESS) Q1 2024 Earnings Call Transcript
Essex Property Trust, Inc. (NYSE:ESS) Q1 2024 Earnings Conference Call May 1, 2024 1:00 PM ET Company Participants Angela Kleiman - President and Chief Executive Officer Barb Pak - Chief Financial Of...