Welcome to our dedicated page for Essex Property Trust news (Ticker: ESS), a resource for investors and traders seeking the latest updates and insights on Essex Property Trust stock.
Essex Property Trust, Inc. (symbol: ESS) is a fully integrated Real Estate Investment Trust (REIT) that specializes in acquiring, developing, redeveloping, and managing multifamily residential properties across select West Coast communities. Founded in 1971, Essex has built a robust framework for creating value and managing risk through a sound real estate strategy, a seasoned management team, and a strong financial standing. These strategic pillars have consistently contributed to the company's performance and growth potential.
As of the latest update, Essex Property Trust boasts a portfolio of 252 apartment communities encompassing over 62,000 units. In addition, the company is actively developing a new property with 264 units. Essex focuses on owning large, high-quality properties situated in the urban and suburban submarkets of Southern California, Northern California, and Seattle. This geographical focus allows the company to capitalize on high-demand markets with strong rental income potential.
The company is committed to providing exceptional living experiences for its residents while delivering long-term value to its shareholders. Essex's properties are known for their premium locations, high-quality amenities, and sustainability initiatives, which align with the company's goal of operational excellence and environmental responsibility.
Essex Property Trust's recent achievements include significant property acquisitions, redevelopment projects, and strategic partnerships that enhance its market presence and operational efficiency. The company's strong financial health is reflected in its balanced sheet and prudent capital allocation, which supports ongoing growth and shareholder returns.
For investors and stakeholders, staying updated with the latest news and developments of Essex Property Trust is crucial to understanding its market position and future prospects. The company regularly communicates its performance, upcoming projects, and strategic initiatives, providing transparency and insights into its operations.
Stay tuned for the most recent updates and news from Essex Property Trust, Inc.
Essex Property Trust (NYSE:ESS) reported its Q4 and full-year 2024 results, with significant year-over-year growth. Net Income per share reached $4.00 in Q4 2024, up 292.2% from Q4 2023, while full-year Net Income grew 82.6% to $11.54. Core FFO per share increased by 2.3% to $3.92 in Q4 and by 3.8% to $15.60 for the full year.
The company achieved same-property revenue growth of 2.6% and NOI growth of 1.7% in Q4 2024. For the full year, same-property revenues grew 3.3% and NOI increased 2.6%. In 2024, Essex acquired or increased ownership in 13 apartment communities for $1.4 billion and disposed of one property for $252.4 million.
For 2025, Essex provided guidance with Core FFO projected at $15.56-$16.06 per share, and same-property revenue growth expected between 2.25% and 3.75%. The company plans acquisitions of $500M-$1.5B and dispositions of $250M-$750M.
Essex Property Trust (NYSE:ESS) has disclosed the income tax treatment for its 2024 dividend distributions. The company distributed a total of $9.66 per share across four quarterly payments: $2.31 (January), $2.45 (April), $2.45 (July), and $2.45 (October). Of the total distribution, 98.191% ($9.48525) is classified as ordinary taxable dividend, while 1.809% ($0.17475) qualifies as capital gain.
The distributions include Section 199A dividends of $9.48525 and Section 897 gains of $0.17475. Essex, an S&P 500 REIT, currently manages 254 apartment communities with approximately 62,000 apartment homes across selected West Coast markets. The company reported no foreign taxes for 2024.
Essex Property Trust (NYSE:ESS) has announced its schedule for the release of fourth quarter 2024 earnings results. The company will release its earnings after market close on Tuesday, February 4, 2025, followed by a conference call with senior management on Wednesday, February 5, 2025 at 9:00 a.m. Pacific Time (12:00 p.m. Eastern Time).
The conference call will be accessible to all interested parties via internet webcast at www.essex.com under the Investors section, or by phone at (877) 407-0784 (toll-free) or (201) 689-8560 (toll/international). A replay will be available online for 30 days and digitally for 7 days using the Replay Pin Number 13750911.
Essex Property Trust, an S&P 500 REIT, currently manages a portfolio of 254 apartment communities with approximately 62,000 apartment homes across selected West Coast markets.
Essex Property Trust (NYSE:ESS) has announced its Board of Directors' declaration of a quarterly cash dividend of $2.45 per common share. The dividend will be payable on January 15, 2025, to shareholders of record as of January 2, 2025.
Essex Property Trust, an S&P 500 company, operates as a fully integrated real estate investment trust (REIT) focusing on multifamily residential properties along the West Coast. The company currently maintains ownership interests in 254 apartment communities with approximately 62,000 apartment homes.
Essex Property Trust reported strong Q3 2024 results, with Net Income per share rising 35.3% to $1.84 and Core FFO growing 3.4% to $3.91. Same-property revenue increased 3.5% year-over-year, with NOI growth of 2.6%. The company raised its full-year 2024 guidance, with Core FFO now expected between $15.50-$15.62 per share. Notable transactions include acquiring two San Jose properties for $290.5 million and issuing $200 million in senior unsecured notes at 5.1% yield. Portfolio occupancy remained stable at 96.2%, with strong performance across Southern California, Northern California, and Seattle markets.
Essex Property Trust, Inc. (NYSE:ESS), an S&P 500 company and fully integrated real estate investment trust (REIT), has announced the release date for its third quarter 2024 earnings. The company plans to release its earnings after the market closes on Tuesday, October 29, 2024. A conference call with senior management is scheduled for Wednesday, October 30, 2024 at 10:00 a.m. Pacific Time or 1:00 p.m. Eastern Time.
The conference call is open to everyone and can be accessed via the company's website or by phone. A replay of the call will be available online for 30 days and digitally for 7 days. Essex Property Trust specializes in acquiring, developing, redeveloping, and managing multifamily residential properties in selected West Coast markets. The company currently has ownership interests in 255 apartment communities comprising over 62,000 apartment homes.
Essex Property Trust (NYSE:ESS), an S&P 500 company and fully integrated REIT, has declared a quarterly cash dividend of $2.45 per common share. The dividend is payable on October 11, 2024 to shareholders of record as of September 30, 2024. Essex specializes in acquiring, developing, redeveloping, and managing multifamily residential properties in selected West Coast markets. The company currently owns interests in 255 apartment communities, comprising over 62,000 apartment homes.
Essex Property Trust (NYSE: ESS) announced that its operating partnership, Essex Portfolio, L.P., has priced a $200 million add-on offering of senior notes due 2034. The notes, which will be treated as a single series with previously issued $350 million 5.500% senior notes, have a reoffer yield of 5.110% and are priced at 102.871% of par value. Interest is payable semiannually at 5.500% per annum, with the first payment due October 1, 2024. The notes mature on April 1, 2034.
The offering is expected to close on August 21, 2024. Proceeds will be used to repay upcoming debt maturities, including a portion of the $500.0 million 3.500% senior notes due April 2025, and for general corporate purposes. Essex Property Trust is a fully integrated REIT with ownership interests in 255 apartment communities comprising over 62,000 apartment homes in selected West Coast markets.
Essex Property Trust (NYSE: ESS) reported its Q2 2024 earnings. Net income per diluted share decreased 6.5% to $1.45 compared to Q2 2023. Core FFO per diluted share rose 4.5% to $3.94, surpassing guidance by $0.11 due to favorable NOI growth. The company achieved a 3.4% increase in same-property revenue and a 3.0% rise in NOI compared to Q2 2023. Year-over-year blended rate growth improved to 3.4% from Q1's 2.2%. Essex acquired two properties in Northern California for $147.7 million.
Essex raised its full-year 2024 guidance: Net income per diluted share is now expected to be $8.23-$8.47, and Core FFO per diluted share is expected to be $15.38-$15.62. The guidance for same-property revenue growth is revised to 2.70%-3.30%, and same-property NOI growth is raised to 1.80%-2.80%. The company also emphasized its liquidity with $1.1 billion available via undrawn credit facilities, cash equivalents, and marketable securities.
Essex Property Trust (NYSE:ESS) will release its second quarter 2024 earnings after the market closes on July 30, 2024. A conference call with senior management is set for July 31, 2024 at 10:00 a.m. Pacific Time. The call is open to the public and can be accessed via their website or by phone. Essex Property Trust, a fully integrated real estate investment trust (REIT), specializes in acquiring, developing, and managing multifamily residential properties on the West Coast. The company currently holds interests in 254 apartment communities, totaling approximately 62,000 units.
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