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. The Company currently has ownership interests in 247 apartment communities comprising more than 60,000 apartment homes with an additional 7 properties in various stages of active development. Additional information about the Company can be found on the Company's website at www.essex.com.
Industry, Sector and Symbol
Stock Exchange NYSE
Industry Real estate investment trusts
Sub-IndustryResidential REITs
SectorFinance
SymbolNYSE:ESS
CUSIP29717810
Phone650-655-7800
Debt
Debt-to-Equity Ratio0.88
Current Ratio1.85
Quick Ratio1.85
Price-To-Earnings
Trailing P/E Ratio20.11
Forward P/E Ratio19.19
P/E Growth3.09
Sales & Book Value
Annual Sales$1.36 billion
Price / Sales11.64
Cash Flow$13.5507 per share
Price / Cash17.74
Book Value$96.87 per share
Price / Book2.48
Profitability
EPS (Most Recent Fiscal Year)$11.91
Net Income$433.05 million
Net Margins27.05%
Return on Equity5.52%
Return on Assets2.83%
Miscellaneous
Employees1,835
Outstanding Shares66,050,000
Market Cap$15.63 billion
Essex Property Trust (NYSE:ESS) Frequently Asked Questions
What is Essex Property Trust's stock symbol?
Essex Property Trust trades on the New York Stock Exchange (NYSE) under the ticker symbol "ESS."
How often does Essex Property Trust pay dividends? What is the dividend yield for Essex Property Trust?
Essex Property Trust announced a quarterly dividend on Monday, May 21st. Shareholders of record on Friday, June 29th will be given a dividend of $1.86 per share on Friday, July 13th. This represents a $7.44 annualized dividend and a yield of 3.10%. The ex-dividend date is Thursday, June 28th. View Essex Property Trust's Dividend History.
How were Essex Property Trust's earnings last quarter?
Essex Property Trust Inc (NYSE:ESS) released its quarterly earnings results on Wednesday, August, 1st. The real estate investment trust reported $3.14 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.10 by $0.04. The real estate investment trust earned $348.72 million during the quarter, compared to analysts' expectations of $348.58 million. Essex Property Trust had a return on equity of 5.52% and a net margin of 27.05%. During the same quarter in the prior year, the firm earned $2.97 EPS. View Essex Property Trust's Earnings History.
When is Essex Property Trust's next earnings date?
What guidance has Essex Property Trust issued on next quarter's earnings?
Essex Property Trust updated its FY18 earnings guidance on Wednesday, August, 1st. The company provided earnings per share (EPS) guidance of $12.44 to $12.62 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $12.56. Essex Property Trust also updated its Q3 guidance to $3.07 to $3.17 EPS.
What price target have analysts set for ESS?
21 Wall Street analysts have issued 1-year price objectives for Essex Property Trust's shares. Their forecasts range from $250.00 to $278.00. On average, they anticipate Essex Property Trust's stock price to reach $265.00 in the next twelve months. This suggests a possible upside of 10.3% from the stock's current price. View Analyst Price Targets for Essex Property Trust.
What is the consensus analysts' recommendation for Essex Property Trust?
21 Wall Street analysts have issued "buy," "hold," and "sell" ratings for Essex Property Trust in the last year. There are currently 8 hold ratings and 13 buy ratings for the stock, resulting in a consensus recommendation of "Buy." View Analyst Ratings for Essex Property Trust.
What are Wall Street analysts saying about Essex Property Trust stock?
Here are some recent quotes from research analysts about Essex Property Trust stock:
- 1. According to Zacks Investment Research, "Shares of Essex Property have underperformed its industry in the past three months. However, the trend in current-year funds from operations (FFO) per share estimate revisions indicates a favorable outlook for the company. Recently, the company reported second-quarter 2018 core FFO per share of $3.14, beating the Zacks Consensus Estimate of $3.10. Results reflect growth in same-property net operating income (NOI) and high occupancy level. The company also raised its guidance for full-year 2018. With a strong property base in the West Coast market and solid balance sheet, the company is likely to leverage on favorable demographic trends, household formation, recovering economy and job market growth in its markets. However, apartment deliveries are expected to remain elevated in a number of its markets in the near term and aggressive rental concessions and moderate pricing power amid high supply remain concerns. Also, rate hike adds to its woes." (8/6/2018)
- 2. Cantor Fitzgerald analysts commented, "Estimate Update. We have lowered our 2017 and 2018 FFO/sh. ests to $11.87 and $12.50 from $11.90 and $12.51. Our 2017 and 2018 core FFO/sh. ests are $11.89 and $12.52 vs. $11.90 and $12.53 prior. Our NAV/sh. est is $265.50 vs. $260.10 prior and is based upon an applied cap rate of 4.42%. Our 2017 and 2018 SSNOI assumptions are 4.1% and 3.5% vs. 4.2% and 4.3% prior. Changes in the ESS’s 2017 market-level forecast include lower economic rent growth (-80bps vs. prior to 2.7%), with declines for all the markets, lower job growth (-40bps to 1.4%) and lower supply (-10bps to 1.2%). According to ESS, market rents in the Q were impacted by supply and decline in job growth leading to higher concessions with limited visibility. ESS expects new deliveries to peak in its markets in the next few months and expects a 5-10% y/y decline in 2018 (25% decline in Northern CA and 5% in Seattle, while 5% increase in southern CA – increases in downtown LA and San Diego, and west LA, declines in Orange County). The company expects 2018 market rent growth to be approx. 3.0% and that revenues could lag market rent growth reflecting loss to lease." (11/8/2017)
Who are some of Essex Property Trust's key competitors?
Some companies that are related to Essex Property Trust include Simon Property Group (SPG), CROWN CASTLE In/SH SH (CCI), Public Storage (PSA), Equinix (EQIX), Prologis (PLD), Weyerhaeuser (WY), DIGITAL RLTY TR/SH (DLR), AvalonBay Communities (AVB), Equity Residential (EQR), Welltower (WELL), UNIBAIL-RODAMCO/ADR (UNRDY), GGP (GGP), Ventas (VTR), Boston Properties (BXP) and SBA Communications (SBAC).
Who are Essex Property Trust's key executives?
Essex Property Trust's management team includes the folowing people:
- Mr. Michael J. Schall CPA, Pres, CEO & Director (Age 61)
- Ms. Angela L. Kleiman, Exec. VP & CFO (Age 47)
- Mr. John D. Eudy, Exec. VP of Devel. & Co-Chief Investment Officer (Age 63)
- Mr. Craig K. Zimmerman, Exec. VP of Acquisitions & Co-Chief Investment Officer (Age 67)
- Mr. John F. Burkart, Sr. EVP of Asset Management (Age 54)
Has Essex Property Trust been receiving favorable news coverage?
Headlines about ESS stock have been trending somewhat positive on Thursday, Accern Sentiment reports. The research firm identifies negative and positive press coverage by reviewing more than 20 million news and blog sources. Accern ranks coverage of companies on a scale of negative one to one, with scores closest to one being the most favorable. Essex Property Trust earned a news and rumor sentiment score of 0.18 on Accern's scale. They also assigned news stories about the real estate investment trust an impact score of 46.73 out of 100, indicating that recent press coverage is somewhat unlikely to have an effect on the company's share price in the next several days. View Recent Headlines for Essex Property Trust.
Who are Essex Property Trust's major shareholders?
Essex Property Trust's stock is owned by a number of of institutional and retail investors. Top institutional shareholders include BlackRock Inc. (10.31%), FMR LLC (2.93%), Daiwa Securities Group Inc. (2.55%), Cbre Clarion Securities LLC (2.09%), Bank of Montreal Can (1.58%) and Dimensional Fund Advisors LP (1.52%). Company insiders that own Essex Property Trust stock include Angela L Kleiman, Byron A Scordelis, Craig K Zimmerman, Gary P Martin, Glenn Olnick, Irving F Lyons III, Janice L Sears, John D Eudy, John F Burkart and Michael J Schall. View Institutional Ownership Trends for Essex Property Trust.
Which institutional investors are selling Essex Property Trust stock?
ESS stock was sold by a variety of institutional investors in the last quarter, including FMR LLC, Janus Henderson Group PLC, Russell Investments Group Ltd., Barings LLC, Standard Life Aberdeen plc, Capital Fund Management S.A., Bank of Montreal Can and Security Capital Research & Management Inc.. Company insiders that have sold Essex Property Trust company stock in the last year include Angela L Kleiman, Byron A Scordelis, Craig K Zimmerman, Gary P Martin, Glenn Olnick, John D Eudy, John F Burkart and Michael J Schall. View Insider Buying and Selling for Essex Property Trust.
Which institutional investors are buying Essex Property Trust stock?
ESS stock was bought by a variety of institutional investors in the last quarter, including Cbre Clarion Securities LLC, Millennium Management LLC, Daiwa Securities Group Inc., Renaissance Technologies LLC, Advisors Asset Management Inc., Resolution Capital Ltd, Bank of America Corp DE and BlackRock Inc.. View Insider Buying and Selling for Essex Property Trust.
How do I buy shares of Essex Property Trust?
Shares of ESS can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Scottrade, Fidelity and Charles Schwab.
What is Essex Property Trust's stock price today?
One share of ESS stock can currently be purchased for approximately $240.36.
How big of a company is Essex Property Trust?
Essex Property Trust has a market capitalization of $15.63 billion and generates $1.36 billion in revenue each year. The real estate investment trust earns $433.05 million in net income (profit) each year or $11.91 on an earnings per share basis. Essex Property Trust employs 1,835 workers across the globe.
How can I contact Essex Property Trust?
Essex Property Trust's mailing address is 1100 PARK PLACE SUITE 200, SAN MATEO CA, 94403. The real estate investment trust can be reached via phone at 650-655-7800 or via email at [email protected]
MarketBeat Community Rating for Essex Property Trust (NYSE ESS)
MarketBeat's community ratings are surveys of what our community members think about Essex Property Trust and other stocks. Vote "Outperform" if you believe ESS will outperform the S&P 500 over the long term. Vote "Underperform" if you believe ESS will underperform the S&P 500 over the long term. You may vote once every thirty days.
