About Essex Property Trust (NYSE:ESS)
Essex Property Trust, Inc. is a self-administered and self-managed real estate investment trust. The Company is engaged primarily in the ownership, operation, management, acquisition, development and redevelopment of predominantly apartment communities, located along the West Coast. Its segments include Southern California, Northern California, Seattle Metro and Other real estate assets. The Company owns all of its interest in its real estate and other investments directly or indirectly through Essex Portfolio, L.P. (the Operating Partnership). Its properties include Mio, Form 15, Emerson Valley Village and Ashton Sherman Village. As of December 31, 2016, it owned or held an interest in 245 communities, aggregating 59,645 apartment homes, excluding its ownership in preferred equity investments, as well as two operating commercial buildings (totaling approximately 140,564 square feet), and six active development projects with 2,223 apartment homes in various stages of development.
Industry, Sector and Symbol
Industry REAL ESTATE
Trailing P/E Ratio34.8283204077818
Forward P/E Ratio18.44
Sales & Book Value
Annual Sales$1.36 billion
Price / Sales11.10
Cash Flow$13.09 per share
Price / Cash17.51
Book Value$96.87 per share
Price / Book2.37
Net Income$433.05 million
Return on Equity6.76%
Return on Assets3.46%
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. Investors 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 yield of 3.25%. 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 Inc (NYSE:ESS) released its quarterly earnings results on Wednesday, February, 7th. The real estate investment trust reported $3.01 earnings per share (EPS) for the quarter, beating the Thomson Reuters' consensus estimate of $3.00 by $0.01. The real estate investment trust earned $345.06 million during the quarter, compared to analysts' expectations 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 firm earned $2.85 earnings per share. View Essex Property Trust's Earnings History.
When will Essex Property Trust make its next earnings announcement?
What guidance has Essex Property Trust issued on next quarter's earnings?
Essex Property Trust updated 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.
Where is Essex Property Trust's stock going? Where will Essex Property Trust's stock price be in 2018?
21 Wall Street analysts have issued 12 month price objectives for Essex Property Trust's shares. Their predictions range from $223.00 to $284.00. On average, they expect Essex Property Trust's stock price to reach $262.95 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 Henderson Land Development (HLDCY), Unibail-Rodamco (UNRDY), Mitsubishi Estate (MITEY), Vonovia (VONOY), AvalonBay Communities (AVB), Equity Residential (EQR), Digital Realty Trust (DLR), GGP (GGP), Welltower (WELL), Boston Properties (BXP), Ventas (VTR), CBRE Group (CBRE), New World Development (NDVLY), Realty Income (O), Host Hotels and Resorts (HST), GECINA (GECFF), Vornado Realty Trust (VNO) and Alexandria Real Estate Equities (ARE).
Who are Essex Property Trust's key executives?
Essex Property Trust's management team includes the folowing people:
- George M. Marcus, Independent Chairman of the Board (Age 75)
- Michael J. Schall, President, Chief Executive Officer, Director (Age 59)
- Keith R. Guericke, Vice Chairman of the Board (Age 68)
- Angela L. Kleiman, Chief Financial Officer, Executive Vice President (Age 46)
- John F. Burkart, Senior Executive Vice President - Asset Management (Age 53)
- John D. Eudy, Co-Chief Investment Officer and Executive Vice President, Development (Age 62)
- Craig K. Zimmerman, Co-Chief Investment Officer and Executive Vice President, Acquisitions (Age 66)
- Deborah Jones, Senior Vice President - Human Resources, General Counsel
- Irving F. Lyons III, Presiding Independent Director (Age 67)
- Amal M. Johnson, Independent Director (Age 65)
Has Essex Property Trust been receiving favorable news coverage?
News stories about ESS stock have trended positive this week, according to Accern Sentiment Analysis. Accern ranks the sentiment of news coverage by monitoring more than twenty million news and blog sources in real-time. Accern ranks coverage of publicly-traded companies on a scale of -1 to 1, with scores closest to one being the most favorable. Essex Property Trust earned a media sentiment score of 0.25 on Accern's scale. They also gave news articles about the real estate investment trust an impact score of 46.62 out of 100, meaning that recent news coverage is somewhat unlikely to have an effect on the stock's share price in the next few days.
Who are Essex Property Trust's major shareholders?
Essex Property Trust's stock is owned by a variety of of retail and institutional investors. Top institutional shareholders include BlackRock Inc. (10.32%), Daiwa Securities Group Inc. (1.94%), Bank of New York Mellon Corp (1.79%), Cbre Clarion Securities LLC (1.65%), Bank of Montreal Can (1.57%) and Deutsche Bank AG (1.28%). 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, Keith R Guericke 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 Bank of New York Mellon Corp, APG Asset Management US Inc., Daiwa Securities Group Inc., Millennium Management LLC, PGGM Investments, Heitman Real Estate Securities LLC, Macquarie Group Ltd. and Duff & Phelps Investment Management Co.. 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, Irving F Lyons III, Janice L Sears, 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 acquired by a variety of institutional investors in the last quarter, including Deutsche Bank AG, Renaissance Technologies LLC, BlackRock Inc., Amundi Pioneer Asset Management Inc., Standard Life Aberdeen plc, Cbre Clarion Securities LLC, Capital Fund Management S.A. and Bank of Montreal Can. 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 $229.17.
How big of a company is Essex Property Trust?
Essex Property Trust has a market capitalization of $15.43 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 $6.58 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 the stock will outperform the S&P 500 over the long term. Vote "Underperform" if you believe the stock will underperform the S&P 500 over the long term. You may vote once every thirty days.
Essex Property Trust (NYSE:ESS) Analysts' Consensus Rating (How are Consensus Ratings Calculated?)
MarketBeat calculates consensus analyst ratings for company stocks using the most recent rating from each brokerage that has rated a stock within the last twelve months. Since brokers often use different ratings systems, each 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 will no longer include ratings and price target data in its consensus calculation if a broker drops coverage and MarketBeat has received a report that coverage was dropped. Ratings from certain research firms that issue ratings using purely quantitative methods (such as Zacks, Vetr and ValuEngine) are not included in consensus calculations. MarketBeat's consensus ratings and consensus price targets may differ from those calculated by other firms due to differences in methodology and available data.
|Today||30 Days Ago||90 Days Ago||180 Days Ago|
|Consensus Rating: ||Buy||Buy||Hold||Hold|
|Consensus Rating Score: ||2.52||2.50||2.39||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)
11 Buy Rating(s)
0 Strong Buy Rating(s)
|2 Sell Rating(s)|
7 Hold Rating(s)
9 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: ||$262.95||$262.00||$270.00||$266.57|
|Price Target Upside: ||14.74% upside||19.01% upside||8.88% upside||0.75% upside|
Essex Property Trust (NYSE:ESS) Consensus Price Target History
Essex Property Trust (NYSE:ESS) Analyst Ratings History
(Data available from 3/24/2016 forward)
Essex Property Trust (NYSE:ESS) Earnings History and Estimates Chart
Essex Property Trust (NYSE ESS) Earnings History by Quarter
(Earnings results data provided by Zacks Investment Research)
|Date||Quarter||Consensus Estimate||Actual EPS||Revenue Estimate||Actual Revenue||Release Link||Conference Call||Details|
|2/7/2018||Q4 2017||$3.00||$3.01||$346.50 million||$345.06 million||View||N/A|
|11/1/2017||Q3 2017||$2.96||$1.22||$342.10 million||$344.37 million||View||N/A|
|7/27/2017||Q2 2017||$2.92||$2.97||$336.17 million||$339.06 million||View||N/A|
|4/27/2017||Q1 2017||$2.89||$2.94||$332.80 million||$335.40 million||View||N/A|
|2/2/2017||Q416||$2.82||$2.81||$330.29 million||$329.04 million||View||Listen|
|10/27/2016||Q316||$2.76||$2.81||$325.44 million||$329.17 million||View||N/A|
|7/28/2016||Q216||$2.70||$2.74||$320.85 million||$321.59 million||View||N/A|
|4/28/2016||Q116||$2.64||$2.68||$313.15 million||$314.20 million||View||N/A|
|2/4/2016||Q415||$2.50||$2.63||$307.02 million||$310.75 million||View||N/A|
|10/29/2015||Q315||$2.44||$2.49||$303.11 million||$304.63 million||View||Listen|
|7/30/2015||Q215||$2.32||$2.40||$290.22 million||$296.16 million||View||Listen|
|5/6/2015||Q115||$2.22||$2.29||$279.88 million||$282.87 million||View||N/A|
|2/4/2015||Q414||$2.22||$2.24||$274.10 million||$278.70 million||View||N/A|
|10/30/2014||Q314||$1.91||$2.16||$262.22 million||$270.48 million||View||N/A|
|8/6/2014||Q214||$1.70||$2.08||$257.82 million||$259.45 million||View||N/A|
|5/7/2014||Q114||$2.00||$2.02||$160.11 million||$161.65 million||View||N/A|
|1/31/2014||Q413||$1.95||$1.94||$156.29 million||$158.55 million||View||N/A|
|10/30/2013||Q313||$1.90||$1.91||$154.21 million||$155.90 million||View||N/A|
|7/31/2013||2Q13||$1.87||$1.88||$150.34 million||$153.40 million||View||N/A|
|5/1/2013||Q113||$1.87||$1.87||$146.10 million||$149.34 million||View||N/A|
Essex Property Trust (NYSE:ESS) Earnings Estimates
2018 EPS Consensus Estimate: $12.46
2019 EPS Consensus Estimate: $13.31
(Earnings estimates data provided by Zacks Investment Research)
|Quarter||Number of Estimates||Low Estimate||High Estimate||Average Estimate|
Essex Property Trust (NYSE:ESS) Dividend Information
|Dividend Growth:||10.90% (3 Year Average)|
|Payout Ratio:||106.38% (Trailing 12 Months of Earnings) |
56.32% (Based on This Year's Estimates)
53.93% (Based on Next Year's Estimates)
|Track Record:||24 Years of Consecutive Dividend Growth|
Essex Property Trust (NYSE:ESS) Dividend History by Quarter
(Data available from 1/1/2013 forward)
|Announced||Period||Amount||Yield||Ex-Dividend Date||Record Date||Payable Date|
Essex Property Trust (NYSE ESS) Insider Trading and Institutional Ownership History
Insider Ownership Percentage: 3.30%
Institutional Ownership Percentage: 97.24%
Essex Property Trust (NYSE ESS) Insider Trades by Quarter
(Data available from 1/1/2013 forward)
|Transaction Date||Insider Name||Title||Buy/Sell||Number of Shares||Average Share Price||Total Transaction||Shares Held After Transaction||Details|
|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|| |
Essex Property Trust (NYSE ESS) News Headlines
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 Saturday, March, 24, 2018