Essex Property Trust, Inc. Declares Quarterly Dividend of $2.59 (NYSE:ESS)

Key Points

• Essex Property Trust declared a quarterly dividend of $2.59 per share, payable October 15 to shareholders of record on September 30. The annualized dividend is $10.36 per share, yielding approximately 3.7%.
• The REIT has increased its dividend for 31 consecutive years, but its current 171.8% payout ratio indicates earnings do not fully cover the dividend. Analysts expect earnings growth to reduce the forward payout ratio to approximately 62.1%.
• Essex reported quarterly earnings of $4.08 per share, exceeding analyst expectations of $1.46, while revenue of $489.05 million also topped estimates. Institutional investors own approximately 96.5% of the company’s stock.

Essex Property Trust, Inc. (NYSE:ESS - Get Free Report) declared a quarterly dividend on Thursday, September 3rd. Shareholders of record on Wednesday, September 30th will be paid a dividend of 2.59 per share by the real estate investment trust on Thursday, October 15th. This represents a c) dividend on an annualized basis and a yield of 3.7%. The ex-dividend date of this dividend is Wednesday, September 30th.

Essex Property Trust has raised its dividend by an average of 0.0%annually over the last three years and has increased its dividend every year for the last 31 years. Essex Property Trust has a payout ratio of 171.8% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Essex Property Trust to earn $16.68 per share next year, which means the company should continue to be able to cover its $10.36 annual dividend with an expected future payout ratio of 62.1%.

Essex Property Trust Stock Up 0.4%

Shares of NYSE ESS opened at $278.29 on Friday. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.60 and a quick ratio of 0.60. Essex Property Trust has a 1 year low of $238.46 and a 1 year high of $303.35. The firm has a market cap of $17.89 billion, a PE ratio of 43.28, a price-to-earnings-growth ratio of 10.14 and a beta of 0.69. The company has a 50 day simple moving average of $289.72 and a 200 day simple moving average of $271.66.

Essex Property Trust (NYSE:ESS - Get Free Report) last posted its quarterly earnings data on Wednesday, July 29th. The real estate investment trust reported $4.08 earnings per share for the quarter, beating analysts' consensus estimates of $1.46 by $2.62. The business had revenue of $489.05 million during the quarter, compared to the consensus estimate of $485.12 million. Essex Property Trust had a return on equity of 7.33% and a net margin of 21.48%.During the same period in the prior year, the business posted $4.03 earnings per share. Essex Property Trust has set its Q3 2026 guidance at 3.930-4.050 EPS and its FY 2026 guidance at 16.030-16.250 EPS. On average, research analysts forecast that Essex Property Trust will post 16.18 EPS for the current year.

Hedge Funds Weigh In On Essex Property Trust

Institutional investors and hedge funds have recently made changes to their positions in the business. The Manufacturers Life Insurance Company bought a new position in shares of Essex Property Trust in the 2nd quarter worth approximately $11,451,000. Nomura Asset Management Co. Ltd. lifted its holdings in Essex Property Trust by 2.6% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 255,533 shares of the real estate investment trust's stock valued at $66,868,000 after purchasing an additional 6,422 shares in the last quarter. Jefferies Financial Group Inc. bought a new position in Essex Property Trust in the 2nd quarter worth $2,889,000. Norges Bank bought a new position in shares of Essex Property Trust in the fourth quarter worth about $230,690,000. Finally, Centersquare Investment Management LLC grew its holdings in Essex Property Trust by 6.0% during the 4th quarter. Centersquare Investment Management LLC now owns 548,017 shares of the real estate investment trust's stock valued at $143,405,000 after buying an additional 31,261 shares in the last quarter. Institutional investors own 96.51% of the company's stock.

Essex Property Trust Company Profile

Essex Property Trust, Inc NYSE: ESS is a publicly traded real estate investment trust that acquires, develops, owns and operates multifamily residential properties. The company focuses on market-rate apartment communities and delivers a full suite of property services including leasing, resident services, asset management, and capital improvement programs designed to preserve and enhance long‑term property values.

Essex concentrates its portfolio in West Coast markets, with a significant presence in California and the Pacific Northwest.

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