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Essex Property Trust, Inc - ESS STOCK NEWS

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.

News

Essex Announces Release and Conference Call Dates for Its First Quarter 2024 Earnings

Rhea-AI Summary
Essex Property Trust, Inc. (NYSE:ESS) is set to release its first quarter 2024 earnings on April 30, with a conference call scheduled for May 1. Investors and analysts can access the call online or via phone, with a replay available for 30 days online and 7 days digitally.
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Essex Property Trust Acquires Joint Venture Partner’s Interest in Four Communities Comprising 1,480 Apartment Homes

Rhea-AI Summary
Essex Property Trust, Inc. (ESS) acquires its joint venture partner's 49.9% interest in the BEXAEW portfolio for $505.0 million, comprising four properties with 1,480 apartment homes. The purchase includes repayment of $219.9 million debt and is expected to yield 5.9% after integration, with an 11.4% IRR and $1.5 million promote income.
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Essex Property Trust Prices $350 Million of Senior Notes

Rhea-AI Summary
Essex Property Trust, Inc. (NYSE:ESS) announced a $350 million public offering of 5.500% senior notes due 2034. The Notes were priced at 99.752% of par value with a yield to maturity of 5.532%. Proceeds will repay upcoming debt maturities and fund general corporate purposes.
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Essex Property Trust to Present at The 2024 Citigroup Global Property CEO Conference

Rhea-AI Summary
Essex Property Trust, Inc. (NYSE:ESS) CEO Angela L. Kleiman to participate in a roundtable presentation at the 2024 Citigroup Global Property CEO Conference. Investors can access the webcast on the company's website. Materials from the conference will be available for thirty days.
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Essex Announces its 30th Consecutive Annual Dividend Increase

Rhea-AI Summary
Essex Property Trust, Inc. (ESS) increases its annual cash dividend by 6.1% for the 30th consecutive year. The first quarter dividend of $2.45 per share will be payable on April 12, 2024, to shareholders of record as of March 29, 2024. The annualized dividend amounts to $9.80 per common share. The Annual Shareholders’ Meeting is scheduled for May 14, 2024, with voting rights for shareholders of record as of March 1, 2024.
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Essex Announces Fourth Quarter and Full-Year 2023 Results and 2024 Guidance

Rhea-AI Summary
Essex Property Trust, Inc. (NYSE: ESS) announced its Q4 and full-year 2023 earnings, including a net income decline of 64.3% for Q4 and a 0.8% increase for the full year. Core FFO per diluted share grew by 1.6% for Q4 and 3.6% for the full year, exceeding guidance. Same-property revenues and NOI grew by 2.9% and 2.3% for Q4, and 4.4% and 4.3% for the full year, with Southern California and Northern California showing positive growth. The company repurchased shares and disposed of one apartment community. However, it recognized a $33.7 million impairment on a preferred equity investment in Oakland, CA.
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Essex Reports Characteristics of 2023 Dividends

Rhea-AI Summary
Essex Property Trust, Inc. (NYSE:ESS) has announced the income tax treatment for its 2023 distributions to shareholders. The distribution characteristics include cash distribution per share, ordinary taxable dividend, qualified dividend, return of capital, capital gain, unrecaptured section 1250 capital gain, section 199A dividend, and section 897 gain. The company did not incur any foreign taxes during 2023. Shareholders are encouraged to consult with their tax advisors for specific tax treatment of dividends.
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Essex Announces Release and Conference Call Dates for Its Fourth Quarter 2023 Earnings

Rhea-AI Summary
Essex Property Trust, Inc. (NYSE:ESS) plans to release its Q4 2023 earnings on February 6, 2024, followed by a conference call on February 7, 2024. The call will be open to everyone and can be accessed via internet or phone. A replay will be available online for 30 days and digitally for 7 days.
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Essex Property Trust Declares Quarterly Distributions

Rhea-AI Summary
Essex Property Trust, Inc. (NYSE:ESS) declares a regular quarterly cash dividend of $2.31 per common share, payable on January 12, 2024, to shareholders of record as of January 2, 2024.
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Essex Announces Third Quarter 2023 Results

Rhea-AI Summary
Essex Property Trust, Inc. (NYSE: ESS) announced its Q3 2023 earnings results and business activities. Net Income, FFO, and Core FFO per diluted share showed positive growth compared to the same period last year. The company achieved same-property revenue and NOI growth, closed secured loans, and committed to preferred equity investment. The full-year 2023 guidance ranges were reaffirmed.
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FAQ

What is the current stock price of Essex Property Trust (ESS)?

The current stock price of Essex Property Trust (ESS) is $302.54 as of November 18, 2024.

What is the market cap of Essex Property Trust (ESS)?

The market cap of Essex Property Trust (ESS) is approximately 19.4B.

What does Essex Property Trust, Inc. specialize in?

Essex Property Trust, Inc. specializes in acquiring, developing, redeveloping, and managing multifamily residential properties in select West Coast communities.

How many properties does Essex Property Trust, Inc. own?

Essex Property Trust, Inc. owns a portfolio of 252 apartment communities with over 62,000 units and is developing another property with 264 units.

Where are Essex Property Trust’s properties located?

Essex Property Trust’s properties are located in the urban and suburban submarkets of Southern California, Northern California, and Seattle.

When was Essex Property Trust, Inc. founded?

Essex Property Trust, Inc. was founded in 1971.

What are the core components of Essex Property Trust’s approach?

The core components of Essex Property Trust’s approach are a sound real estate strategy, an experienced management team, and a strong financial condition.

Why is Essex Property Trust, Inc. considered a strong investment?

Essex Property Trust, Inc. is considered a strong investment due to its high-quality properties, strategic market focus, strong financial health, and consistent growth potential.

What recent achievements has Essex Property Trust, Inc. made?

Recent achievements include significant property acquisitions, redevelopment projects, and strategic partnerships that enhance its market presence and operational efficiency.

How does Essex Property Trust, Inc. ensure a high living standard for its residents?

Essex Property Trust, Inc. ensures a high living standard for its residents by providing premium locations, high-quality amenities, and sustainability initiatives.

What type of properties does Essex Property Trust, Inc. focus on?

Essex Property Trust, Inc. focuses on large, high-quality multifamily residential properties.

How can investors stay updated on Essex Property Trust’s latest news?

Investors can stay updated on Essex Property Trust’s latest news by following their official announcements and updates on financial performance, projects, and strategic initiatives.

Stock ESS logo
Essex Property Trust, Inc

NYSE:ESS

ESS Rankings

#560 Ranked by Market Cap
#951 Ranked by Dividends

ESS Stock Data

19.44B
63.53M
1.14%
98.33%
1.61%
REIT - Residential
Real Estate Investment Trusts
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United States of America
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