About Essex Property Trust (NYSE:ESS)
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 247 apartment communities with an additional 7 properties in various stages of active development. Additional information about Essex can be found on the Company's website at www.essex.com.
Industry, Sector and Symbol
Industry Real estate investment trusts
Sub-IndustryResidential REITs
SectorFinance
SymbolNYSE:ESS
CUSIP29717810
Phone650-655-7800
Debt
Debt-to-Equity Ratio0.89%
Current Ratio1.27%
Quick Ratio1.27%
Price-To-Earnings
Trailing P/E Ratio19.87
Forward P/E Ratio19.19
P/E Growth3.24
Sales & Book Value
Annual Sales$1.36 billion
Price / Sales11.55
Cash Flow$13.3822 per share
Price / Cash17.82
Book Value$96.87 per share
Price / Book2.46
Profitability
EPS (Most Recent Fiscal Year)$11.91
Net Income$433.05 million
Net Margins31.75%
Return on Equity6.76%
Return on Assets3.46%
Miscellaneous
Employees1,835
Outstanding Shares66,040,000
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 Wednesday, February 21st. Shareholders of record on Thursday, March 29th will be paid a dividend of $1.86 per share on Monday, April 16th. This represents a $7.44 annualized dividend and a dividend yield of 3.12%. The ex-dividend date is Wednesday, March 28th. This is an increase from Essex Property Trust's previous quarterly dividend of $1.75. View Essex Property Trust's Dividend History.
How were Essex Property Trust's earnings last quarter?
Essex Property Trust (NYSE:ESS) announced its earnings results on Wednesday, February, 7th. The real estate investment trust reported $3.01 earnings per share for the quarter, topping the consensus estimate of $3.00 by $0.01. The real estate investment trust had revenue of $345.06 million for the quarter, compared to analyst estimates of $346.50 million. Essex Property Trust had a net margin of 31.75% and a return on equity of 6.76%. During the same period in the prior year, the company posted $2.85 earnings per share. View Essex Property Trust's Earnings History.
What guidance has Essex Property Trust issued on next quarter's earnings?
Essex Property Trust issued an update on its FY18 earnings guidance on Wednesday, February, 7th. The company provided earnings per share guidance of $12.24-12.64 for the period, compared to the Thomson Reuters consensus estimate of $12.41.
What price target have analysts set for ESS?
21 brokers have issued 1 year target prices for Essex Property Trust's stock. Their predictions range from $223.00 to $284.00. On average, they anticipate Essex Property Trust's stock price to reach $262.9474 in the next year. 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. 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)
- 2. According to Zacks Investment Research, "Shares of Essex Property outperformed the industry it belongs to year to date. Moreover, the stock has seen the Zacks Consensus Estimate for current-year funds from operations (FFO) per share being revised upward in two months’ time. With a strong property base and solid balance sheet, Essex is likely to leverage on favorable demographic trends in its markets. The company’s substantial exposure to the West Coast market, which is home to several innovation and technology companies, offers ample scope to boost its top line over the long term. Moreover, the company has raised the dividend every year since the IPO in 1994. However, large concession amid elevated supply is likely to result in periodic disruption in certain submarkets. Also, rate hike adds to its woes." (10/13/2017)
Who are some of Essex Property Trust's key competitors?
Some companies that are related to Essex Property Trust include American Tower (AMT), Simon Property Group (SPG), Crown Castle International (CCI), Prologis (PLD), Public Storage (PSA), Equinix (EQIX), Weyerhaeuser (WY), Unibail-Rodamco (UNRDY), AvalonBay Communities (AVB), Equity Residential (EQR), Digital Realty (DLR), Welltower (WELL), GGP (GGP), Boston Properties (BXP) and Ventas (VTR).
Who are Essex Property Trust's key executives?
Essex Property Trust's management team includes the folowing people:
- Mr. George M. Marcus, Chairman (Age 77)
- Mr. Michael J. Schall CPA, Pres & CEO (Age 61)
- Ms. Angela L. Kleiman, Exec. VP & CFO (Age 47)
- Mr. John D. Eudy, Co-Chief Investment Officer & Exec. VP of Devel. (Age 63)
- Mr. Craig K. Zimmerman, Co-Chief Investment Officer & Exec. VP of Acquisitions (Age 67)
Has Essex Property Trust been receiving favorable news coverage?
News coverage about ESS stock has been trending somewhat negative this week, according to Accern Sentiment. Accern identifies positive and negative media coverage by analyzing more than 20 million blog and news sources in real-time. Accern ranks coverage of publicly-traded companies on a scale of negative one to positive one, with scores closest to one being the most favorable. Essex Property Trust earned a media sentiment score of -0.10 on Accern's scale. They also gave media stories about the real estate investment trust an impact score of 47.60 out of 100, indicating that recent media coverage is somewhat unlikely to have an effect on the stock's share price in the near future.
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 $238.47.
How big of a company is Essex Property Trust?
Essex Property Trust has a market capitalization of $15.69 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 (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.
Essex Property Trust (NYSE:ESS) Price Target and Consensus Rating
(How are Consensus Ratings Calculated?) MarketBeat calculates consensus analyst ratings for stocks using the most recent rating from each Wall Street analyst that has rated a stock within the last twelve months. Each analyst's rating is normalized to a standardized rating score of 1 (sell), 2 (hold), 3 (buy) or 4 (strong buy). Analyst consensus ratings scores are calculated using the mean average of the number of normalized sell, hold, buy and strong buy ratings from Wall Street analysts. Each stock's consensus analyst rating is derived from its calculated consensus ratings score (0-1.5 = Sell, 1.5-2.5 = Hold, 2.5-3.5 = Buy, >3.5 = Strong Buy). MarketBeat's consensus price targets are a mean average of the most recent available price targets set by each analyst that has set a price target for the stock in the last twelve months. MarketBeat's consensus ratings and consensus price targets may differ from those calculated by other firms due to differences in methodology and available data.
21 Wall Street analysts have issued ratings and price targets for Essex Property Trust in the last 12 months. Their average twelve-month price target is $262.9474, suggesting that the stock has a possible upside of 10.26%. The high price target for ESS is $284.00 and the low price target for ESS is $223.00. There are currently 1 sell rating, 8 hold ratings and 12 buy ratings for the stock, resulting in a consensus rating of "Buy."
| Today | 30 Days Ago | 90 Days Ago | 180 Days Ago |
| Consensus Rating: | Buy | Buy | Hold | Hold |
| Consensus Rating Score: | 2.52 | 2.52 | 2.37 | 2.28 |
| Ratings Breakdown: | 1 Sell Rating(s)
8 Hold Rating(s)
12 Buy Rating(s)
0 Strong Buy Rating(s) | 1 Sell Rating(s)
8 Hold Rating(s)
12 Buy Rating(s)
0 Strong Buy Rating(s) | 3 Sell Rating(s)
6 Hold Rating(s)
10 Buy Rating(s)
0 Strong Buy Rating(s) | 2 Sell Rating(s)
9 Hold Rating(s)
7 Buy Rating(s)
0 Strong Buy Rating(s) |
| Consensus Price Target: | $262.9474 | $262.9474 | $264.50 | $266.7857 |
| Price Target Upside: | 10.26% upside | 9.89% upside | 18.28% upside | 2.87% upside |
Essex Property Trust (NYSE:ESS) Consensus Price Target History
Essex Property Trust (NYSE:ESS) Analyst Ratings History
Show:
(Data available from 4/26/2016 forward)
Essex Property Trust (NYSE:ESS) Dividend Information
Essex Property Trust pays an annual dividend of $7.44 per share, with a dividend yield of 3.12%. ESS's most recent quarterly dividend payment was Monday, April 16. The company has grown its dividend for the last 24 consecutive years and is increasing its dividend by an average of 10.90% each year. Essex Property Trust pays out 62.47% of its earnings out as a dividend.
| Most Recent Dividend: | 4/16/2018 |
| Annual Dividend: | $7.44 |
| Dividend Yield: | 3.12% |
| Dividend Growth: | 10.90% (3 Year Average) |
| Payout Ratio: | 62.47% (Trailing 12 Months of Earnings)
59.86% (Based on This Year's Estimates)
57.32% (Based on Next Year's Estimates)
|
| Track Record: | 24 Years of Consecutive Dividend Growth |
| Frequency: | Quarterly Dividend |
Essex Property Trust (NYSE:ESS) Dividend History by Quarter
| Announced | Period | Amount | Yield | Ex-Dividend Date | Record Date | Payable Date |
|---|
| 2/21/2018 | quarterly | $1.86 | 3.37951396774926% | 3/28/2018 | 3/29/2018 | 4/16/2018 |
| 12/13/2017 | quarterly | $1.75 | 2.81% | 12/28/2017 | 12/29/2017 | 1/16/2018 |
| 9/19/2017 | quarterly | $1.75 | 2.73% | 9/28/2017 | 9/29/2017 | 10/16/2017 |
| 5/18/2017 | quarterly | $1.75 | 2.75% | 6/28/2017 | 6/30/2017 | 7/14/2017 |
| 2/22/2017 | quarterly | $1.75 | 3.02% | 3/29/2017 | 3/31/2017 | 4/17/2017 |
| 12/15/2016 | quarterly | $1.60 | 2.82% | 12/28/2016 | 12/30/2016 | 1/17/2017 |
| 9/21/2016 | quarterly | $1.60 | 2.77% | 9/28/2016 | 9/30/2016 | 10/14/2016 |
| 5/20/2016 | quarterly | $1.60 | 2.88% | 6/28/2016 | 6/30/2016 | 7/15/2016 |
| 2/19/2016 | quarterly | $1.60 | 3.09% | 3/29/2016 | 3/31/2016 | 4/15/2016 |
| 12/16/2015 | quarterly | $1.44 | 2.41% | 12/30/2015 | 1/4/2016 | 1/15/2016 |
| 9/16/2015 | quarterly | $1.44 | 2.62% | 9/28/2015 | 9/30/2015 | 10/15/2015 |
| 5/26/2015 | quarterly | $1.44 | 2.57% | 6/26/2015 | 6/30/2015 | 7/15/2015 |
| 2/25/2015 | quarterly | $1.44 | 2.61% | 3/27/2015 | 3/31/2015 | 4/15/2015 |
| 12/17/2014 | quarterly | $1.30 | 2.5% | 12/30/2014 | 1/2/2015 | 1/15/2015 |
| 9/10/2014 | quarterly | $1.30 | 2.75% | 9/26/2014 | 9/30/2014 | 10/15/2014 |
| 6/11/2014 | quarterly | $1.30 | 2.9% | 6/26/2014 | 6/30/2014 | 7/15/2014 |
| 1/31/2014 | quarterly | $1.21 | 3.06% | 3/12/2014 | 3/14/2014 | 3/31/2014 |
| 12/5/2013 | quarterly | $1.21 | 3.14% | 12/30/2013 | 1/2/2014 | 1/15/2014 |
| 9/11/2013 | quarterly | $1.21 | 3.23% | 9/26/2013 | 9/30/2013 | 10/15/2013 |
| 5/16/2013 | quarterly | $1.21 | 2.88% | 6/26/2013 | 6/28/2013 | 7/15/2013 |
| 2/20/2013 | quarterly | $1.21 | 3.2% | 3/26/2013 | 3/28/2013 | 4/15/2013 |
| 12/9/2012 | quarterly | $1.10 | 3.09% | 12/28/2012 | 1/2/2013 | 1/15/2013 |
(Data available from 1/1/2013 forward)
Essex Property Trust (NYSE ESS) Insider Trading and Institutional Ownership History
Insider Ownership Percentage: 3.30%
Institutional Ownership Percentage: 97.36%
Essex Property Trust (NYSE ESS) Insider Trading History
| Transaction Date | Insider Name | Title | Buy/Sell | Number of Shares | Average Share Price | Total Transaction | Shares Held After Transaction | Details |
|---|
| 2/26/2018 | Glenn Olnick | Insider | Sell | 1,600,000 | $0.10 | $160,000.00 | | |
| 2/12/2018 | Gary P Martin | Director | Sell | 500 | $223.43 | $111,715.00 | 5,736 |  |
| 12/11/2017 | Angela L Kleiman | CFO | Sell | 600 | $247.16 | $148,296.00 | 7,777 | |
| 12/11/2017 | Craig K Zimmerman | Insider | Sell | 1,001 | $247.24 | $247,487.24 | 11,284 | |
| 12/11/2017 | John D Eudy | EVP | Sell | 1,700 | $247.24 | $420,308.00 | 10,130 | |
| 12/11/2017 | Michael J Schall | CEO | Sell | 4,801 | $247.37 | $1,187,623.37 | 49,564 | |
| 11/10/2017 | Angela L Kleiman | CFO | Sell | 84 | $255.50 | $21,462.00 | 7,261 | |
| 11/10/2017 | Craig K Zimmerman | Insider | Sell | 167 | $255.50 | $42,668.50 | 10,450 | |
| 11/10/2017 | Michael J Schall | CEO | Sell | 334 | $255.50 | $85,337.00 | 45,097 | |
| 11/6/2017 | Gary P Martin | Director | Sell | 1,000 | $255.59 | $255,590.00 | 6,236 | |
| 10/10/2017 | Angela L Kleiman | CFO | Sell | 83 | $257.92 | $21,407.36 | 7,260 | |
| 10/10/2017 | John D Eudy | Insider | Sell | 166 | $257.92 | $42,814.72 | | |
| 10/10/2017 | Michael J Schall | CEO | Sell | 333 | $257.92 | $85,887.36 | 45,096 | |
| 9/11/2017 | Craig K Zimmerman | Insider | Sell | 167 | $267.02 | $44,592.34 | 10,450 | |
| 8/24/2017 | Byron A Scordelis | Director | Sell | 6,265 | $267.39 | $1,675,198.35 | 4,986 | |
| 8/17/2017 | Angela L Kleiman | Insider | Sell | 2,466 | $263.37 | $649,470.42 | 9,643 | |
| 8/10/2017 | Angela L Kleiman | CFO | Sell | 84 | $263.97 | $22,173.48 | 7,261 | |
| 8/10/2017 | John D Eudy | Insider | Sell | 167 | $263.97 | $44,082.99 | 8,597 | |
| 8/10/2017 | Michael J Schall | CEO | Sell | 333 | $263.97 | $87,902.01 | 45,096 | |
| 8/1/2017 | Gary P Martin | Director | Sell | 1,000 | $261.94 | $261,940.00 | 6,236 | |
| 8/1/2017 | John F Burkart | Insider | Sell | 333 | $261.84 | $87,192.72 | 4,818 | |
| 7/12/2017 | John D Eudy | Insider | Sell | 166 | $253.79 | $42,129.14 | 8,596 | |
| 7/10/2017 | Michael J Schall | Insider | Sell | 333 | $256.06 | $85,267.98 | 45,096 | |
| 6/12/2017 | Angela L Kleiman | Insider | Sell | 83 | $263.00 | $21,829.00 | 7,260 | |
| 5/22/2017 | Janice L Sears | Director | Sell | 3,000 | $253.92 | $761,760.00 | 3,698 | |
| 5/19/2017 | John F Burkart | Insider | Sell | 167 | $254.75 | $42,543.25 | 4,652 | |
| 5/18/2017 | Irving F Lyons III | Director | Sell | 1,024 | $254.22 | $260,321.28 | 8,854 | |
| 5/12/2017 | Michael J Schall | Insider | Sell | 13,668 | $252.63 | $3,452,946.84 | 58,431 | |
| 5/11/2017 | John D Eudy | Insider | Sell | 4,301 | $252.40 | $1,085,572.40 | 12,731 | |
| 5/10/2017 | Angela L Kleiman | Insider | Sell | 3,417 | $252.35 | $862,279.95 | 10,594 | |
| 5/8/2017 | John F Burkart | Insider | Sell | 6,667 | $248.71 | $1,658,149.57 | 11,152 | |
| 4/4/2017 | Craig K Zimmerman | Insider | Sell | 7,958 | $232.03 | $1,846,494.74 | 10,284 | |
| 3/31/2017 | Michael J Schall | Insider | Sell | 17,458 | $232.01 | $4,050,430.58 | 59,763 | |
| 3/1/2017 | Byron A Scordelis | Director | Sell | 5,250 | $234.26 | $1,229,865.00 | 3,000 | |
| 2/22/2017 | John D Eudy | Insider | Sell | 1,250 | $230.18 | $287,725.00 | 9,680 | |
| 2/15/2017 | Craig K Zimmerman | Insider | Sell | 6,800 | $225.41 | $1,532,788.00 | 17,083 | |
| 2/10/2017 | John F Burkart | Insider | Sell | 3,500 | $228.72 | $800,520.00 | 4,985 | |
| 2/7/2017 | Gary P Martin | Director | Sell | 1,000 | $223.03 | $223,030.00 | 6,000 | |
| 2/7/2017 | John D Eudy | Insider | Sell | 3,400 | $223.49 | $759,866.00 | 11,830 | |
| 12/27/2016 | Angela L Kleiman | Insider | Sell | 300 | $232.00 | $69,600.00 | 7,477 | |
| 12/15/2016 | Angela L Kleiman | Insider | Sell | 1,200 | $219.55 | $263,460.00 | 7,997 | |
| 9/1/2016 | John D Eudy | Insider | Sell | 2,500 | $226.41 | $566,025.00 | 9,268 | |
| 8/9/2016 | Keith R Guericke | Director | Sell | 5,000 | $233.49 | $1,167,450.00 | 63,750 | |
| 7/5/2016 | Michael J Schall | CEO | Sell | 10,000 | $222.23 | $2,222,300.00 | 47,954 | |
| 5/5/2016 | Irving F Lyons III | Director | Sell | 2,678 | $228.67 | $612,378.26 | 8,973 | |
| 2/11/2016 | David W. Brady | Director | Sell | 2,500 | $194.03 | $485,075.00 | 4,018 | |
| 12/18/2015 | John F. Burkart | EVP | Sell | 3,000 | $236.85 | $710,550.00 | 2,823 | |
| 12/15/2015 | Angela L. Kleiman | CFO | Sell | 1,800 | $233.25 | $419,850.00 | 5,498 | |
| 12/15/2015 | John D. Eudy | EVP | Sell | 5,900 | $233.79 | $1,379,361.00 | 6,768 | |
| 12/14/2015 | John F. Burkart | EVP | Sell | 1,000 | $232.03 | $232,030.00 | 2,823 | |
| 12/4/2015 | Thomas P Sullivan | Director | Sell | 2,500 | $233.86 | $584,650.00 | 3,146 | |
| 11/2/2015 | Gary P. Martin | Director | Sell | 2,500 | $224.39 | $560,975.00 | 5,000 | |
| 8/18/2015 | John F. Burkart | insider | Sell | 3,500 | $232.03 | $812,105.00 | 10 | |
| 8/18/2015 | Michael J Schall | CEO | Sell | 10,000 | $232.03 | $2,320,300.00 | | |
| 2/9/2015 | Erik J Alexander | SVP | Sell | 7,500 | $222.60 | $1,669,500.00 | | |
| 2/9/2015 | John D Eudy | EVP | Sell | 3,500 | $222.25 | $777,875.00 | | |
| 2/9/2015 | Michael J Schall | CEO | Sell | 11,500 | $222.11 | $2,554,265.00 | | |
| 2/9/2015 | Michael T Dance | CFO | Sell | 9,000 | $222.31 | $2,000,790.00 | | |
| 1/7/2015 | Michael J Schall | CEO | Sell | 8,000 | $216.25 | $1,730,000.00 | | |
| 12/4/2014 | John D Eudy | EVP | Sell | 11,000 | $201.70 | $2,218,700.00 | | |
| 12/4/2014 | Michael T Dance | CFO | Sell | 4,000 | $201.48 | $805,920.00 | | |
| 10/31/2014 | Michael J Schall | CEO | Sell | 4,000 | $200.00 | $800,000.00 | | |
| 9/5/2014 | Erik J Alexander | EVP | Sell | 1,000 | $194.17 | $194,170.00 | | |
| 6/6/2014 | Michael T Dance | CFO | Sell | 2,000 | $185.23 | $370,460.00 | | |
| 2/11/2014 | Gary Martin | Director | Sell | 1,000 | $168.66 | $168,660.00 | 5,000 | |
| 8/6/2013 | Bryan Gerald Hunt | CAO | Sell | 1,150 | $158.45 | $182,217.50 | | |
| 8/5/2013 | Michael Dance | CFO | Sell | 6,000 | $159.03 | $954,180.00 | 8,518 | |
| 5/22/2013 | John D Eudy | EVP | Sell | 3,000 | $170.20 | $510,600.00 | | |
| 5/17/2013 | Gary P Martin | Director | Sell | 1,500 | $166.67 | $250,005.00 | | |
| 5/15/2013 | Erik J Alexander | SVP | Sell | 1,791 | $164.91 | $295,353.81 | | |
| 12/3/2012 | Erik J Alexander | SVP | Sell | 2,000 | $141.69 | $283,380.00 | | |
| 11/13/2012 | Bryan Gerald Hunt | CAO | Sell | 1,219 | $141.80 | $172,854.20 | | |
(Data available from 1/1/2013 forward)
Essex Property Trust (NYSE ESS) News Headlines
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Essex Property Trust (NYSE:ESS) SEC Filings
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Essex Property Trust (NYSE:ESS) Income Statement, Balance Sheet and Cash Flow Statement
Essex Property Trust (NYSE ESS) Stock Chart for Thursday, April, 26, 2018
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