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
Industry Real estate investment trusts
Sub-IndustryResidential REITs
SectorFinance
SymbolNYSE:ESS
CUSIP29717810
Phone650-655-7800
Debt
Debt-to-Equity Ratio0.88
Current Ratio1.17
Quick Ratio1.17
Price-To-Earnings
Trailing P/E Ratio19.76
Forward P/E Ratio18.69
P/E Growth3.1
Sales & Book Value
Annual Sales$1.36 billion
Price / Sales11.31
Cash Flow$13.2266 per share
Price / Cash17.65
Book Value$96.87 per share
Price / Book2.41
Profitability
EPS (Most Recent Fiscal Year)$11.91
Net Income$433.05 million
Net Margins25.08%
Return on Equity5.10%
Return on Assets2.61%
Miscellaneous
Employees1,835
Outstanding Shares66,050,000
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 declared a quarterly dividend on Monday, May 21st. Stockholders of record on Friday, June 29th will be paid a dividend of $1.86 per share on Friday, July 13th. This represents a $7.44 annualized dividend and a dividend yield of 3.18%. 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) issued its quarterly earnings results on Wednesday, May, 2nd. The real estate investment trust reported $1.38 earnings per share (EPS) for the quarter, beating the Thomson Reuters' consensus estimate of $1.10 by $0.28. The real estate investment trust had revenue of $347.26 million for the quarter, compared to analysts' expectations of $347.53 million. Essex Property Trust had a net margin of 25.08% and a return on equity of 5.10%. During the same period in the previous year, the company posted $2.94 earnings per share. 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, May, 2nd. The company provided earnings per share guidance of $12.28-12.64 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $12.46.
What price target have analysts set for ESS?
21 Wall Street analysts have issued 12 month target prices for Essex Property Trust's stock. Their predictions range from $223.00 to $278.00. On average, they anticipate Essex Property Trust's share price to reach $262.2105 in the next twelve months. 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 Simon Property Group (SPG), CROWN CASTLE In/SH SH (CCI), Public Storage (PSA), Prologis (PLD), Equinix (EQIX), Weyerhaeuser (WY), AvalonBay Communities (AVB), Equity Residential (EQR), DIGITAL Rlty Tr/SH SH (DLR), Welltower (WELL), UNIBAIL-RODAMCO/ADR (UNRDY), Ventas (VTR), GGP (GGP), 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?
News coverage about ESS stock has trended somewhat positive on Monday, Accern Sentiment reports. 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 daily sentiment score of 0.08 on Accern's scale. They also assigned press coverage about the real estate investment trust an impact score of 45.95 out of 100, indicating that recent media coverage is somewhat unlikely to have an effect on the stock's share price in the next several days.
Who are Essex Property Trust's major shareholders?
Essex Property Trust's stock is owned by many different of institutional and retail investors. Top institutional shareholders include BlackRock Inc. (10.18%), Principal Financial Group Inc. (3.39%), Daiwa Securities Group Inc. (2.02%), JPMorgan Chase & Co. (1.79%), Northern Trust Corp (1.75%) and Dimensional Fund Advisors LP (1.50%). 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 major investors are selling Essex Property Trust stock?
ESS stock was sold by a variety of institutional investors in the last quarter, including Millennium Management LLC, BlackRock Inc., Echo Street Capital Management LLC, UBS Group AG, Brookfield Asset Management Inc., Envestnet Asset Management Inc., Royal Bank of Canada and Swiss National Bank. 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 major investors are buying Essex Property Trust stock?
ESS stock was acquired by a variety of institutional investors in the last quarter, including American Century Companies Inc., Centersquare Investment Management LLC, Lord Abbett & CO. LLC, PNC Financial Services Group Inc., Resolution Capital Ltd, Teachers Insurance & Annuity Association of America, Russell Investments Group Ltd. and Advantus Capital Management 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 $234.04.
How big of a company is Essex Property Trust?
Essex Property Trust has a market capitalization of $15.55 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.
