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, Inc. (NYSE: ESS) reported its first quarter 2022 earnings, revealing a 56.8% decline in net income to $1.12 per diluted share from $2.59 in Q1 2021, attributed to a prior-year gain on sale. However, Core FFO per diluted share rose 9.8% year-over-year, reaching $3.37, surpassing guidance. Same-property revenues and net operating income (NOI) grew 6.5% and 7.3% respectively. The company raised its full-year earnings guidance, projecting net income per share between $4.79 to $5.15 and Core FFO at $13.77 to $14.13. Additionally, a 5.3% dividend increase was announced.
Essex Property Trust, Inc. (NYSE:ESS) will release its first quarter 2022 earnings on April 26, 2022, after market close. A conference call is scheduled for April 27, 2022, at 11:00 a.m. PT (2:00 p.m. ET), open to the public. Investors can access the call via the Essex website or by phone. The company owns 253 apartment communities with about 62,000 apartment homes and is involved in the development of two additional properties. More information is available on its website.
Essex Property Trust, Inc. (NYSE:ESS) announced that its President and CEO, Michael J. Schall, will speak at the 2022 Citigroup Global Property CEO Conference in Hollywood, FL, on March 7, 2022, at 11:15 a.m. ET. Investors can access the live panel through the company's website, with an archive available for 30 days post-event. Essex Property Trust, a member of the S&P 500, manages approx. 62,000 apartment homes across 253 communities on the West Coast, with additional properties in development.
Essex Property Trust, Inc. (NYSE:ESS) has announced a 5.3% increase in its annual cash dividend, marking the 28th consecutive annual dividend rise. The first-quarter dividend will be $2.20 per share, payable on April 14, 2022, to shareholders on record as of March 31, 2022. This annualized dividend distribution amounts to $8.80 per common share. The company will hold its virtual Annual Meeting of Shareholders on May 10, 2022, allowing shareholders of record as of February 25, 2022 to participate.
Essex Property Trust reported its Q4 and full-year 2021 earnings, highlighting a 42.9% increase in quarterly net income per diluted share to $2.10. Total FFO per diluted share rose 32.7% to $4.30. For the full year, net income per diluted share decreased 13.6% to $7.51, while Total FFO increased 9.4% to $13.98. Key highlights include same-property gross revenue growth of 4.0% in Q4 and a strong investment activity, acquiring properties worth $347.5 million in Q4 alone.
Essex Property Trust, Inc. (NYSE:ESS) announced the income tax treatment for its 2021 shareholder distributions, totaling $8.34750 per share, with a dividend of $5.92030. The distributions included various taxable components, such as $1.84244 categorized as ordinary taxable income. Key payment dates for these distributions were set between January 15 and October 15, 2021. The company confirmed no foreign taxes were incurred during the year and encourages shareholders to consult tax advisors regarding their specific tax treatments.
Essex Property Trust, Inc. (NYSE:ESS) plans to release its fourth quarter 2021 earnings after market close on February 2, 2022. A conference call with senior management is scheduled for February 3, 2022, at 11:00 a.m. Pacific Time. The call is accessible via the company's website or by phone. Essex, a fully integrated real estate investment trust (REIT), manages 247 apartment communities with approximately 60,000 apartment homes and is currently developing three additional properties.
Rexford Industrial Realty announces the appointment of Angela Kleiman as an independent director effective December 31, 2021. Kleiman, currently COO of Essex Property Trust, brings extensive experience in operations and finance to the board. Her leadership roles include Executive Vice President and CFO at Essex and positions in investment management and banking. The board also noted the retirement of Peter Schwab, who served since 2014, to enhance board diversity. Rexford Industrial operates 288 properties in Southern California, focusing on industrial market growth.
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