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 246 apartment communities comprising approximately 60,000 apartment homes with an additional 6 properties in various stages of active development.
IPO Year: 1994
Exchange: NYSE
Website: essexapartmenthomes.com
| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 10/21/2024 | Outperform → Mkt Perform | Raymond James | |
| 9/24/2024 | $307.00 → $321.00 | Buy → Neutral | BofA Securities |
| 9/11/2024 | $333.00 | Outperform | Exane BNP Paribas |
| 9/4/2024 | $318.00 | Neutral | Goldman |
| 4/1/2024 | $250.00 → $275.00 | Neutral → Buy | BofA Securities |
| 3/18/2024 | $265.00 | Mkt Perform → Outperform | Raymond James |
| 2/28/2024 | $255.00 → $250.00 | Neutral → Buy | Mizuho |
| 2/22/2024 | $227.00 | Sell | Goldman |
| 1/30/2024 | $240.00 | Hold | Deutsche Bank |
| 1/2/2024 | $215.00 → $281.00 | Hold → Buy | Jefferies |
Essex Property Trust, Inc. (NYSE:ESS) (the "Company") announced today its third quarter 2024 earnings results and related business activities. Net Income, Funds from Operations ("FFO"), and Core FFO per diluted share for the quarter ended September 30, 2024 are detailed below. Three Months Ended September 30, Nine Months Ended September 30, % % 2024 2023 Change 2024 2023 Change Per Diluted Share Net Income $1.84 $1.36 35.3% $7.54 $5.30 42.3% Total FFO $3.81 $3.69 3.3% $12.30 $11.37 8.2% Core FFO $3.91 $3.78 3.4% $11.68 $11.21 4
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. A conference call with senior management is scheduled for Wednesday, October 30, 2024 at 10:00 a.m. Pacific Time or 1:00 p.m. Eastern Time. The third quarter conference call is open to everyone and can be accessed by: Internet: Go to www.essex.com; click on Investors and the third quarter earnings webcast. Phone: Dial toll-free, (877) 407-0784, or toll/international, (201) 689-8560. No passcode is necessary. Replay: A rebroadcast of the live call will be available online for 30 days and digitally for 7 days. To access the re
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 October 11, 2024 to shareholders of record as of September 30, 2024. About Essex Property Trust, Inc. 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 255 apartment communities comprising over 62,000 apartment homes. Additional information about the Company can be found on the Company's website at www.essex.com.
Essex Property Trust, Inc. (NYSE:ESS) ("Essex") announced today that its operating partnership, Essex Portfolio, L.P. (the "Issuer"), priced an underwritten public offering of $200 million in additional senior notes due 2034 with a reoffer yield of 5.110% (the "notes"). The notes will be issued as additional notes under the indenture pursuant to which the Issuer previously issued $350 million of 5.500% senior notes due 2034 (the "initial notes"). The notes will be treated as a single series of securities with the initial notes under the indenture and will have the same CUSIP number as, and be fungible with, the initial notes. The notes were priced at 102.871% of par value. Interest is payab
Essex Property Trust, Inc. (NYSE:ESS) (the "Company") announced today its second quarter 2024 earnings results and related business activities. Net Income, Funds from Operations ("FFO"), and Core FFO per diluted share for the quarter ended June 30, 2024 are detailed below. Three Months Ended June 30, Six Months Ended June 30, % % 2024 2023 Change 2024 2023 Change Per Diluted Share Net Income $1.45 $1.55 -6.5% $5.69 $3.94 44.4% Total FFO $3.89 $3.87 0.5% $8.49
Public Storage (NYSE:PSA) (the "Company") announced today the appointment of Maria R. Hawthorne to its Board of Trustees, effective immediately, with an initial term expiring at the 2025 annual meeting of shareholders. Ms. Hawthorne will serve as a member of the Audit Committee. Ms. Hawthorne brings over 35 years of real estate industry experience, including extensive executive management, operational, and leadership development experience. Ms. Hawthorne has been a member of the board of directors of Essex Property Trust, Inc. (NYSE:ESS), a REIT that acquires, develops, redevelops, and manages multifamily residential properties, since March 2020, and of ASGN Incorporated (NYSE:ASGN), a le
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 conference call with senior management is scheduled for Wednesday, July 31, 2024 at 10:00 a.m. Pacific Time or 1:00 p.m. Eastern Time. The second quarter conference call is open to everyone and can be accessed by: Internet: Go to www.essex.com; click on Investors and the second quarter earnings webcast. Phone: Dial toll-free, (877) 407-0784, or toll/international, (201) 689-8560. No passcode is necessary. Replay: A rebroadcast of the live call will be available online for 30 days and digitally for 7 days. To access the r
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 July 12, 2024 to shareholders of record as of June 28, 2024. About Essex Property Trust, Inc. 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. Additional information about the Company can be found on the Company's website at www.essex.com.
National Storage Affiliates Trust ("NSA" or the "Company") (NYSE:NSA) today announced that shareholders elected Michael Schall to its Board, effective May 13, 2024. Mr. Schall has been appointed to serve on the Audit and Finance Committees. Tamara Fischer, Executive Chairperson of the Board of Trustees, commented, "We are pleased to announce that our shareholders showed overwhelming support for Mike's addition to our board, as his extensive experience in various executive leadership roles and on the boards of publicly traded REITs will enhance our strategic endeavors toward building value for all of NSA's stakeholders." Mr. Schall retired from Essex Property Trust (NYSE:ESS), where he h
Essex Property Trust, Inc. (NYSE:ESS) announces the publication of its 2023 Environmental, Social, and Governance ("ESG") Report which highlights the Company's notable progress towards its goals introduced in its 2022 ESG Report, improved benchmark scores, and our recent commitment to setting science-based, near-term greenhouse gas ("GHG") reduction targets through the Science Based Targets initiative ("SBTi"). "Over the last several years, our residents, employees, and shareholders have been experiencing continuous transformation in the workplace and economy. In this evolving environment, the Company's commitment to sustainability has been unwavering. With this report, we are pleased to
Essex Property Trust, Inc. (NYSE:ESS) (the "Company") announced today its third quarter 2024 earnings results and related business activities. Net Income, Funds from Operations ("FFO"), and Core FFO per diluted share for the quarter ended September 30, 2024 are detailed below. Three Months Ended September 30, Nine Months Ended September 30, % % 2024 2023 Change 2024 2023 Change Per Diluted Share Net Income $1.84 $1.36 35.3% $7.54 $5.30 42.3% Total FFO $3.81 $3.69 3.3% $12.30 $11.37 8.2% Core FFO $3.91 $3.78 3.4% $11.68 $11.21 4
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. A conference call with senior management is scheduled for Wednesday, October 30, 2024 at 10:00 a.m. Pacific Time or 1:00 p.m. Eastern Time. The third quarter conference call is open to everyone and can be accessed by: Internet: Go to www.essex.com; click on Investors and the third quarter earnings webcast. Phone: Dial toll-free, (877) 407-0784, or toll/international, (201) 689-8560. No passcode is necessary. Replay: A rebroadcast of the live call will be available online for 30 days and digitally for 7 days. To access the re
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 October 11, 2024 to shareholders of record as of September 30, 2024. About Essex Property Trust, Inc. 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 255 apartment communities comprising over 62,000 apartment homes. Additional information about the Company can be found on the Company's website at www.essex.com.
Essex Property Trust, Inc. (NYSE:ESS) (the "Company") announced today its second quarter 2024 earnings results and related business activities. Net Income, Funds from Operations ("FFO"), and Core FFO per diluted share for the quarter ended June 30, 2024 are detailed below. Three Months Ended June 30, Six Months Ended June 30, % % 2024 2023 Change 2024 2023 Change Per Diluted Share Net Income $1.45 $1.55 -6.5% $5.69 $3.94 44.4% Total FFO $3.89 $3.87 0.5% $8.49
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 conference call with senior management is scheduled for Wednesday, July 31, 2024 at 10:00 a.m. Pacific Time or 1:00 p.m. Eastern Time. The second quarter conference call is open to everyone and can be accessed by: Internet: Go to www.essex.com; click on Investors and the second quarter earnings webcast. Phone: Dial toll-free, (877) 407-0784, or toll/international, (201) 689-8560. No passcode is necessary. Replay: A rebroadcast of the live call will be available online for 30 days and digitally for 7 days. To access the r
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 July 12, 2024 to shareholders of record as of June 28, 2024. About Essex Property Trust, Inc. 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. Additional information about the Company can be found on the Company's website at www.essex.com.
Essex Property Trust, Inc. (NYSE:ESS) announces the publication of its 2023 Environmental, Social, and Governance ("ESG") Report which highlights the Company's notable progress towards its goals introduced in its 2022 ESG Report, improved benchmark scores, and our recent commitment to setting science-based, near-term greenhouse gas ("GHG") reduction targets through the Science Based Targets initiative ("SBTi"). "Over the last several years, our residents, employees, and shareholders have been experiencing continuous transformation in the workplace and economy. In this evolving environment, the Company's commitment to sustainability has been unwavering. With this report, we are pleased to
Essex Property Trust, Inc. (NYSE:ESS) (the "Company") announced today its first quarter 2024 earnings results and related business activities. Net Income, Funds from Operations ("FFO"), and Core FFO per diluted share for the quarter ended March 31, 2024 are detailed below. Three Months Ended March 31, % 2024 2023 Change Per Diluted Share Net Income $4.25 $2.38 78.6% Total FFO $4.60 $3.80 21.1% Core FFO $3.83 $3.65 4.9% First Quarter 2024 Highlights: Reported Net Income per diluted share for the first quarter
Essex Property Trust, Inc. (NYSE:ESS) announced today that it plans to release its first quarter 2024 earnings after the market closes on Tuesday, April 30, 2024. A conference call with senior management is scheduled for Wednesday, May 1, 2024 at 10:00 a.m. Pacific Time or 1:00 p.m. Eastern Time. The first quarter conference call is open to everyone and can be accessed by: Internet: Go to www.essex.com; click on Investors and the first quarter earnings webcast. Phone: Dial toll-free, (877) 407-0784, or toll/international, (201) 689-8560. No passcode is necessary. Replay: A rebroadcast of the live call will be available online for 30 days and digitally for 7 days. To access the repla
Essex Property Trust, Inc. (NYSE:ESS) announced today that it acquired its joint venture partner's 49.9% interest in the BEXAEW portfolio for a total purchase price of $505.0 million on a gross basis. The seller's cap rate is approximately 5.25%; however, after incorporating additional economic benefits by fully integrating this portfolio into our operating platform, we estimate a 5.9% year-one yield. Concurrent with closing, the Company repaid $219.9 million of debt encumbering the properties and consolidated the communities on the Company's financials. The portfolio is comprised of four properties totaling 1,480 apartment homes. The portfolio generated an 11.4% IRR and the Company will re
UBS analyst Michael Goldsmith maintains Essex Property Trust (NYSE:ESS) with a Neutral and raises the price target from $261 to $283.
Foreign investment in U.S. homes has dropped to its lowest in 15 years, as per a fresh report by the National Association of Realtors. Low supply and high prices have scared many foreign investors away from U.S. real estate, marking the seventh consecutive yearly drop in sales for this cohort. The U.S. Home Market Slump: Unusually high inflation has pushed mortgage rates up, forcing many homeowners to stay in their current homes, bringing the supply of houses down significantly. In this context, people who might have been looking for a new home are incentivized to stick to their low mortgage rates instead of selling their home in exchange for a more expensive mortgage. The fall h
Essex Property Trust (NYSE:ESS) has been analyzed by 15 analysts in the last three months, revealing a diverse range of perspectives from bullish to bearish. The table below summarizes their recent ratings, showcasing the evolving sentiments within the past 30 days and comparing them to the preceding months. Bullish Somewhat Bullish Indifferent Somewhat Bearish Bearish Total Ratings 1 4 10 0 0 Last 30D 0 0 2 0 0 1M Ago 0 2 2 0 0 2M Ago 1 1 3 0 0 3M Ago 0 1 3 0 0 The 12-month price targets assessed by analysts reveal further insights, featuring an average target of $271.03, a high estimate of $315.00, and a low estimate of $240.00. Witnessing a positive shift, the current
Stifel analyst Simon Yarmak maintains Essex Property Trust (NYSE:ESS) with a Hold and raises the price target from $243.5 to $267.
Evercore ISI Group analyst Steve Sakwa maintains Essex Property Trust (NYSE:ESS) with a In-Line and raises the price target from $254 to $260.
Piper Sandler analyst Alexander Goldfarb reiterates Essex Property Trust (NYSE:ESS) with a Overweight and maintains $315 price target.
Truist Securities analyst Michael Lewis maintains Essex Property Trust (NYSE:ESS) with a Hold and raises the price target from $255 to $282.
Essex Property Trust's (NYSE:ESS) short percent of float has fallen 10.83% since its last report. The company recently reported that it has 1.26 million shares sold short, which is 2.8% of all regular shares that are available for trading. Based on its trading volume, it would take traders 4.22 days to cover their short positions on average. Why Short Interest Matters Short interest is the number of shares that have been sold short but have not yet been covered or closed out. Short selling is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises. Short in
In the latest quarter, 15 analysts provided ratings for Essex Property Trust (NYSE:ESS), showcasing a mix of bullish and bearish perspectives. The following table encapsulates their recent ratings, offering a glimpse into the evolving sentiments over the past 30 days and comparing them to the preceding months. Bullish Somewhat Bullish Indifferent Somewhat Bearish Bearish Total Ratings 2 4 9 0 0 Last 30D 0 0 1 0 0 1M Ago 1 1 1 0 0 2M Ago 0 2 5 0 0 3M Ago 1 1 2 0 0 Analysts have recently evaluated Essex Property Trust and provided 12-month price targets. The average target is $268.1, accompanied by a high estimate of $315.00 and a low estimate of $240.00. Marking an increas
JP Morgan analyst Anthony Paolone maintains Essex Property Trust (NYSE:ESS) with a Neutral and raises the price target from $244 to $265.
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Raymond James downgraded Essex Property from Outperform to Mkt Perform
BofA Securities downgraded Essex Property from Buy to Neutral and set a new price target of $321.00 from $307.00 previously
Exane BNP Paribas initiated coverage of Essex Property with a rating of Outperform and set a new price target of $333.00
Goldman initiated coverage of Essex Property with a rating of Neutral and set a new price target of $318.00
BofA Securities upgraded Essex Property from Neutral to Buy and set a new price target of $275.00 from $250.00 previously
Raymond James upgraded Essex Property from Mkt Perform to Outperform and set a new price target of $265.00
Mizuho upgraded Essex Property from Neutral to Buy and set a new price target of $250.00 from $255.00 previously
Goldman resumed coverage of Essex Property with a rating of Sell and set a new price target of $227.00
Deutsche Bank initiated coverage of Essex Property with a rating of Hold and set a new price target of $240.00
Jefferies upgraded Essex Property from Hold to Buy and set a new price target of $281.00 from $215.00 previously
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Public Storage (NYSE:PSA) (the "Company") announced today the appointment of Maria R. Hawthorne to its Board of Trustees, effective immediately, with an initial term expiring at the 2025 annual meeting of shareholders. Ms. Hawthorne will serve as a member of the Audit Committee. Ms. Hawthorne brings over 35 years of real estate industry experience, including extensive executive management, operational, and leadership development experience. Ms. Hawthorne has been a member of the board of directors of Essex Property Trust, Inc. (NYSE:ESS), a REIT that acquires, develops, redevelops, and manages multifamily residential properties, since March 2020, and of ASGN Incorporated (NYSE:ASGN), a le
Essex Property Trust, Inc. (NYSE:ESS) announced today the planned retirement of Michael J. Schall, the Company's President and CEO since 2011, effective March 31, 2023. Thereafter, Mr. Schall will continue to serve on the Company's Board of Directors and will remain on as a part-time employee. The Board of Directors has appointed Angela L. Kleiman, the Company's Senior Executive Vice President and Chief Operating Officer, to succeed Mr. Schall as President and CEO. "Throughout his long career at Essex, Mike's strategic vision and strong leadership has driven Essex's growth and success. He has developed a culture of achievement, assembled a strong executive team, and has been a prudent stew
LOS ANGELES, Dec. 27, 2021 /PRNewswire/ -- Rexford Industrial Realty, Inc. (the "Company" or "Rexford Industrial") (NYSE:REXR), a real estate investment trust focused on creating value by investing in and operating industrial properties located in Southern California infill markets, today announced that Angela Kleiman has been appointed as an independent director to the Company's Board of Directors effective December 31, 2021. Ms. Kleiman is currently Senior Executive Vice President and Chief Operating Officer of Essex Property Trust (NYSE:ESS), a fully integrated real estate