Essex Property Trust (ESS)
(Delayed Data from NYSE)
$296.99 USD
-0.14 (-0.05%)
Updated Aug 15, 2022 04:03 PM ET
2-Buy of 5 2
D Value C Growth C Momentum D 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 ...
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 Mar 31, 2022, Essex Property enjoyed ownership or ownership stakes in 253 operating apartment communities encompassing 62,290 apartment homes. It had additional two properties in various stages of active development.
As of Mar 31, 2022, Essex Property's development pipeline consisted of one consolidated project under development, one unconsolidated joint venture project under development and various predevelopment projects totaling 371 apartment homes. Total incurred costs amounted to $162.0 million and estimated remaining project costs are roughly $55.0 million, of which $29.0 million denotes the company's share of estimated remaining costs for total estimated project costs of $217.0 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.
Note: All EPS numbers presented in this report represent 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 | 6/30/2022 |
| Exp Earnings Date | 10/25/2022 |
EPS Information
| Current Quarter EPS Consensus Estimate | 3.66 |
| Current Year EPS Consensus Estimate | 14.39 |
| Estimated Long-Term EPS Growth Rate | 6.40 |
| Exp Earnings Date | 10/25/2022 |
Price and Volume Information
| Zacks Rank |  |
| Yesterday's Close | 297.13 |
| 52 Week High | 363.36 |
| 52 Week Low | 250.62 |
| Beta | 0.77 |
| 20 Day Moving Average | 415,530.31 |
| Target Price Consensus | 323.00 |
| 4 Week | 11.93 |
| 12 Week | 5.34 |
| YTD | -15.64 |
| 4 Week | 1.03 |
| 12 Week | -3.98 |
| YTD | -6.06 |
| Shares Outstanding (millions) | 65.12 |
| Market Capitalization (millions) | 19,350.40 |
| Short Ratio | NA |
| Last Split Date | NA |
| Dividend Yield | 2.96% |
| Annual Dividend | $8.80 |
| Payout Ratio | 0.66 |
| Change in Payout Ratio | 0.03 |
| Last Dividend Payout / Amount | 6/29/2022 / $2.20 |
Fundamental Ratios
| P/E (F1) | 20.65 |
| Trailing 12 Months | 22.14 |
| PEG Ratio | 3.24 |
| vs. Previous Year | 21.05% |
| vs. Previous Quarter | 9.20% |
| vs. Previous Year | 13.96% |
| vs. Previous Quarter | 4.73% |
| Price/Book | 3.22 |
| Price/Cash Flow | 21.06 |
| Price / Sales | 12.76 |
| 6/30/22 | 5.15 |
| 3/31/22 | 5.25 |
| 12/31/21 | 6.60 |
| 6/30/22 | 2.46 |
| 3/31/22 | 2.51 |
| 12/31/21 | 3.17 |
| 6/30/22 | 1.30 |
| 3/31/22 | 1.41 |
| 12/31/21 | 2.21 |
| 6/30/22 | 1.30 |
| 3/31/22 | 1.41 |
| 12/31/21 | 2.21 |
| 6/30/22 | 20.75 |
| 3/31/22 | 21.97 |
| 12/31/21 | 28.23 |
| 6/30/22 | 25.43 |
| 3/31/22 | 26.81 |
| 12/31/21 | 33.91 |
| 6/30/22 | 26.99 |
| 3/31/22 | 28.43 |
| 12/31/21 | 35.80 |
| 6/30/22 | 92.23 |
| 3/31/22 | 93.95 |
| 12/31/21 | 94.89 |
| 6/30/22 | NA |
| 3/31/22 | NA |
| 12/31/21 | NA |
| 6/30/22 | 1.00 |
| 3/31/22 | 0.98 |
| 12/31/21 | 1.02 |
| 6/30/22 | 50.15 |
| 3/31/22 | 49.78 |
| 12/31/21 | 50.58 |