Essex Property Trust Declares Quarterly Distributions

Rhea-AI Summary

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.

Positive

• Consistent quarterly dividend payout of $2.45 per share
• Ownership interests in 255 apartment communities
• Portfolio includes over 62,000 apartment homes

Negative

• None.

Insights

Financial Analyst

Essex Property Trust's consistent $2.45 quarterly dividend demonstrates stability in their cash flow and commitment to shareholder returns. With a portfolio of 255 apartment communities and over 62,000 units, Essex maintains a strong market position in the competitive West Coast real estate sector. The dividend yield, while attractive, should be viewed in context of the REIT's overall financial health and market conditions. Investors should note that REITs are required to distribute a high percentage of taxable income, making dividends a key component of total returns. However, the unchanged dividend amount might indicate growth prospects or a cautious financial strategy in the face of potential market uncertainties.

SAN MATEO, Calif.--(BUSINESS WIRE)-- Essex Property Trust, Inc. (NYSE:ESS) announced today that its Board of Directors has declared a regular quarterly cash dividend of $2.45 per common share, payable October 11, 2024 to shareholders of record as of September 30, 2024.

About Essex Property Trust, Inc.

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 255 apartment communities comprising over 62,000 apartment homes. Additional information about the Company can be found on the Company’s website at www.essex.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240905239670/en/

Loren Rainey

Director, Investor Relations

(650) 655-7800

lrainey@essex.com

Source: Essex Property Trust, Inc.

FAQ

What is the amount of Essex Property Trust's (ESS) latest quarterly dividend?

Essex Property Trust (NYSE:ESS) has declared a quarterly cash dividend of $2.45 per common share.

When is the ex-dividend date for Essex Property Trust's (ESS) latest dividend?

The press release does not specify the ex-dividend date. However, shareholders of record as of September 30, 2024, will be eligible for the dividend.

How many apartment communities does Essex Property Trust (ESS) currently own?

Essex Property Trust currently has ownership interests in 255 apartment communities.

What is the total number of apartment homes in Essex Property Trust's (ESS) portfolio?

Essex Property Trust's portfolio comprises over 62,000 apartment homes.