Essex Property Trust
About: Essex Property Trust owns a portfolio of 254 apartment communities with over 62,000 units. The company focuses on owning large, high-quality properties on the West Coast in the urban and suburban submarkets of Southern California, Northern California, and Seattle.
Employees: 1,750
0
Funds holding %
of 6,809 funds
0
Analysts bullish %
of 3 analysts
Fund manager confidence
Based on 2024 Q3 regulatory filings by fund managers ($100M+ AUM)
245% more call options, than puts
Call options by funds: $31.8M | Put options by funds: $9.22M
43% more first-time investments, than exits
New positions opened: 80 | Existing positions closed: 56
4% more funds holding
Funds holding: 571 [Q2] → 595 (+24) [Q3]
5% more repeat investments, than reductions
Existing positions increased: 216 | Existing positions reduced: 205
2% more capital invested
Capital invested by funds: $17B [Q2] → $17.4B (+$384M) [Q3]
5.14% less ownership
Funds ownership: 97.09% [Q2] → 91.96% (-5.14%) [Q3]
57% less funds holding in top 10
Funds holding in top 10: 7 [Q2] → 3 (-4) [Q3]
Research analyst outlook
3 Wall Street Analysts provided 1 year price targets over the past 3 months
Low target
$303
7%
upside
Avg. target
$313
10%
upside
High target
$321
13%
upside
3 analyst ratings
0 positive
0%
2 neutral
67%
1 negative
33%
JP Morgan Anthony Paolone 39% 1-year accuracy 7 / 18 met price target | 7%upside $303 | Underweight Downgraded | 17 Dec 2024 |
Barclays Anthony Powell 48% 1-year accuracy 14 / 29 met price target | 11%upside $316 | Equal-Weight Initiated | 17 Dec 2024 |
B of A Securities Joshua Dennerlein 46% 1-year accuracy 6 / 13 met price target | 13%upside $321 | Neutral Downgraded | 24 Sept 2024 |
Financial journalist opinion
Based on 3 articles about ESS published over the past 30 days
Neutral
Business Wire
2 weeks ago
Essex Property Trust Declares Quarterly Distributions
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 January 15, 2025 to shareholders of record as of January 2, 2025. 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 sel.
Positive
Seeking Alpha
2 weeks ago
Essex Property Trust: Limited Supply Enables Further Growth
Essex Property Trust has gained 35% over the past year, benefiting from limited new apartment supply in California and a defensive geographic positioning. Essex's markets face significantly less new supply than the Sun Belt, with just 0.5% annual supply growth expected from 2023-2025. Despite rising costs, Essex maintains a solid balance sheet and expects 4-5% growth in FFO, with a fair value target of $320-325.
Positive
Zacks Investment Research
2 weeks ago
Should Essex Property Stock be Retained in Your Portfolio Now?
A sturdy property base in the West Coast market, technology initiatives and a healthy balance sheet pose ESS for future growth. High supply of rental units ail.
Positive
Zacks Investment Research
1 month ago
Essex Property Stock Up 16.7% in Six Months: Will It Rise Further?
ESS is likely to benefit from favorable West Coast market fundamentals and a healthy balance sheet.
Neutral
Seeking Alpha
1 month ago
Essex Property Trust, Inc. (ESS) Q3 2024 Earnings Call Transcript
Essex Property Trust, Inc. (NYSE:ESS ) Q3 2024 Earnings Conference Call October 30, 2024 1:00 PM ET Company Participants Angela Kleiman - President, CEO Barb Pak - EVP, CFO Rylan Burns - EVP, Chief Investment Officer Conference Call Participants Daniel Tricarico - Scotiabank Nick Joseph - Citi Haendel St. Juste - Mizuho Securities Steve Sakwa - Evercore ISI Alexander Goldfarb - Piper Sandler Adam Kramer - Morgan Stanley Jamie Feldman - Wells Fargo Josh Dennerlein - Bank of America John Kim - BMO Capital Markets Linda Tsai - Jefferies John Pawlowski - Green Street Julien Blouin - Goldman Sachs Alex Kim - Zelman & Associates Conor Peaks - Deutsche Bank Angela Kleiman Good morning. Thank you for joining Essex third quarter earnings call.
Positive
Zacks Investment Research
1 month ago
Essex Property Q3 FFO and Revenues Beat, '24 View Raised
ESS' Q3 core FFO tops estimates. Results reflect higher same-property revenues and net operating income.
Neutral
Zacks Investment Research
1 month ago
Is the Options Market Predicting a Spike in Essex Property Trust (ESS) Stock?
Investors need to pay close attention to Essex Property Trust (ESS) stock based on the movements in the options market lately.
Positive
Zacks Investment Research
1 month ago
Essex Property Trust (ESS) Q3 Earnings: How Key Metrics Compare to Wall Street Estimates
Although the revenue and EPS for Essex Property Trust (ESS) give a sense of how its business performed in the quarter ended September 2024, it might be worth considering how some key metrics compare with Wall Street estimates and the year-ago numbers.
Positive
Zacks Investment Research
1 month ago
Essex Property Trust (ESS) Q3 FFO and Revenues Top Estimates
Essex Property Trust (ESS) came out with quarterly funds from operations (FFO) of $3.91 per share, beating the Zacks Consensus Estimate of $3.88 per share. This compares to FFO of $3.78 per share a year ago.
Neutral
Business Wire
1 month ago
Essex Announces Third Quarter 2024 Results and Raises Full-Year 2024 Guidance
SAN MATEO, Calif.--(BUSINESS WIRE)--Essex Property Trust, Inc. (NYSE: ESS) (the “Company”) announced today its third quarter 2024 earnings results and related business activities. Net Income, Funds from Operations (“FFO”), and Core FFO per diluted share for the quarter ended September 30, 2024 are detailed below. Three Months Ended September 30, Nine Months Ended September 30, % % 2024 2023 Change 2024 2023 Change Per Diluted Share Net Income $1.84 $1.36 35.3% $7.54 $5.30.
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