Essex Property Trust (ESS)
(Delayed Data from NYSE)
$237.60 USD
-1.47 (-0.61%)
Updated Mar 18, 2024 04:00 PM ET
After-Market: $237.53 -0.07 (-0.03%) 7:58 PM ET
4-Sell of 5 4
F Value F Growth B Momentum F VGM
Company Summary
Headquartered in San Mateo, CA, Essex Property Trust, Inc. is a real estate investment trust (REIT) engaged in the acquisition, development, redevelopment and management of multifamily residential properties in supply constrained markets. The company is a S&P 500 index member.
Specifically, the company enjoys concentration of assets in select coastal submarkets along the West Coast, including Southern California (Los Angeles, Orange, San Diego, and Ventura counties), Northern California (the San Francisco Bay Area) and the Seattle metropolitan areas. Notably, in April 2014, Essex Property completed the merger with BRE Properties which led to the ...
Company Summary
Headquartered in San Mateo, CA, Essex Property Trust, Inc. is a real estate investment trust (REIT) engaged in the acquisition, development, redevelopment and management of multifamily residential properties in supply constrained markets. The company is a S&P 500 index member.
Specifically, the company enjoys concentration of assets in select coastal submarkets along the West Coast, including Southern California (Los Angeles, Orange, San Diego, and Ventura counties), Northern California (the San Francisco Bay Area) and the Seattle metropolitan areas. Notably, in April 2014, Essex Property completed the merger with BRE Properties which led to the creation of a premium West Coast pure play multifamily REIT.
As of Dec 31, 2023, Essex Property enjoyed ownership or ownership stakes in 252 operating apartment communities encompassing 61,997 apartment homes.
As of Dec 31, 2023, Essex Property's development pipeline consisted of one unconsolidated joint venture project under development totaling 264 apartment homes and various predevelopment projects. Total incurred costs amounted to $114 million and estimated remaining project costs are roughly $12 million, of which $6.5 million denotes the company's share of estimated remaining costs for total estimated project costs of $126 million.
In January 2022, Wesco VI, LLC, one of Essex Property’s joint ventures with an institutional partner, closed the acquisition of Vela for $183 million. The property located in Woodland Hills, CA, is a 379-unit apartment home community. It was encumbered by a $100.7 million bridge loan from Essex and bore an interest rate of 2.64%. The loan was paid off in January 2022 and was replaced by a permanent secured debt with an institutional lender.
In March 2023, Essex Property sold a student housing community comprising 239 apartment homes in the non-core market of Santa Barbara County for $91.7 million. The transaction resulted in a gain on sale of $54.5 million.
Note: All EPS numbers presented in this report represents funds from operations (FFO) per share. FFO, a widely used metric to gauge the performance of REITs, is obtained after adding depreciation and amortization and other non-cash expenses to net income.
General Information
Essex Property Trust, Inc
1100 PARK PLACE SUITE 200
SAN MATEO, CA 94403
Phone: 650-655-7800
Fax: 650-494-8743
Web: http://www.essexapartmenthomes.com
Email: investors@essex.com
Industry | REIT and Equity Trust - Residential |
Sector | Finance |
Fiscal Year End | December |
Last Reported Quarter | 12/31/2023 |
Exp Earnings Date | 4/25/2024 |
EPS Information
Current Quarter EPS Consensus Estimate | 3.75 |
Current Year EPS Consensus Estimate | 15.16 |
Estimated Long-Term EPS Growth Rate | 5.10 |
Exp Earnings Date | 4/25/2024 |
Price and Volume Information
Zacks Rank | |
Yesterday's Close | 239.07 |
52 Week High | 252.85 |
52 Week Low | 195.03 |
Beta | 0.79 |
20 Day Moving Average | 437,634.75 |
Target Price Consensus | 242.38 |
4 Week | 0.95 |
12 Week | -2.77 |
YTD | -4.17 |
4 Week | -1.87 |
12 Week | -10.23 |
YTD | -10.12 |
Shares Outstanding (millions) | 64.20 |
Market Capitalization (millions) | 15,254.75 |
Short Ratio | NA |
Last Split Date | NA |
Dividend Yield | 3.89% |
Annual Dividend | $9.24 |
Payout Ratio | 0.61 |
Change in Payout Ratio | -0.02 |
Last Dividend Payout / Amount | 12/29/2023 / $2.31 |
Fundamental Ratios
P/E (F1) | 15.67 |
Trailing 12 Months | 15.81 |
PEG Ratio | 3.08 |
vs. Previous Year | 1.59% |
vs. Previous Quarter | 1.32% |
vs. Previous Year | 1.58% |
vs. Previous Quarter | 0.61% |
Price/Book | 2.73 |
Price/Cash Flow | 15.87 |
Price / Sales | 9.14 |
12/31/23 | 7.10 |
9/30/23 | 9.08 |
6/30/23 | 9.10 |
12/31/23 | 3.29 |
9/30/23 | 4.26 |
6/30/23 | 4.29 |
12/31/23 | 3.26 |
9/30/23 | 2.63 |
6/30/23 | 1.27 |
12/31/23 | 3.26 |
9/30/23 | 2.63 |
6/30/23 | 1.27 |
12/31/23 | 24.31 |
9/30/23 | 31.61 |
6/30/23 | 32.12 |
12/31/23 | 24.31 |
9/30/23 | 31.61 |
6/30/23 | 32.12 |
12/31/23 | 25.80 |
9/30/23 | 33.35 |
6/30/23 | 33.89 |
12/31/23 | 87.15 |
9/30/23 | 88.91 |
6/30/23 | 89.77 |
12/31/23 | NA |
9/30/23 | NA |
6/30/23 | NA |
12/31/23 | 1.11 |
9/30/23 | 1.09 |
6/30/23 | 1.03 |
12/31/23 | 52.72 |
9/30/23 | 52.21 |
6/30/23 | 50.90 |