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 7,139 funds
0
Analysts bullish %
of 9 analysts
Fund manager confidence
Based on 2024 Q4 regulatory filings by fund managers ($100M+ AUM)
90% more call options, than puts
Call options by funds: $22.4M | Put options by funds: $11.8M
43% more first-time investments, than exits
New positions opened: 80 | Existing positions closed: 56
1.23% more ownership
Funds ownership: 92.76% [Q3] → 93.98% (+1.23%) [Q4]
5% more repeat investments, than reductions
Existing positions increased: 216 | Existing positions reduced: 205
1% more funds holding
Funds holding: 596 [Q3] → 599 (+3) [Q4]
0% more funds holding in top 10
Funds holding in top 10: 3 [Q3] → 3 (+0) [Q4]
2% less capital invested
Capital invested by funds: $17.5B [Q3] → $17.2B (-$286M) [Q4]
Research analyst outlook
9 Wall Street Analysts provided 1 year price targets over the past 3 months
Low target
$300
2%
upside
Avg. target
$307
4%
upside
High target
$316
7%
upside
9 analyst ratings
4 positive
44%
4 neutral
44%
1 negative
11%
Barclays Richard Hightower 61% 1-year accuracy 11 / 18 met price target | 3%upside $304 | Equal-Weight Maintained | 19 Feb 2025 |
Evercore ISI Group Steve Sakwa 47% 1-year accuracy 24 / 51 met price target | 2%upside $302 | In-Line Maintained | 10 Feb 2025 |
RBC Capital Brad Heffern 51% 1-year accuracy 18 / 35 met price target | 7%upside $315 | Outperform Maintained | 6 Feb 2025 |
Wells Fargo James Feldman 55% 1-year accuracy 11 / 20 met price target | 3%upside $305 | Equal-Weight Maintained | 24 Jan 2025 |
Deutsche Bank Omotayo Okusanya 69% 1-year accuracy 9 / 13 met price target | 5%upside $310 | Buy Upgraded | 21 Jan 2025 |
Financial journalist opinion
Based on 14 articles about ESS published over the past 30 days
Positive
Zacks Investment Research
20 hours ago
Essex Property Rewards Investors With Another Annual Dividend Hike
Boosting shareholders' wealth and confidence, ESS announces the 31st consecutive annual dividend hike of 4.9%.
Neutral
Business Wire
1 day ago
Essex Announces Its 31st Consecutive Annual Dividend Increase
SAN MATEO, Calif.--(BUSINESS WIRE)--Essex Property Trust, Inc. (NYSE:ESS) announced today that its Board of Directors has approved a 4.9% increase to its annual cash dividend. This represents the Company's 31st consecutive annual dividend increase. The Board of Directors has declared a first quarter dividend of $2.57 per share, payable on April 15, 2025 to shareholders of record as of March 31, 2025. On an annualized basis, the dividend represents a distribution of $10.28 per common share. The.
Neutral
Seeking Alpha
5 days ago
Inflation Isn't Dead Yet
US equity markets flirted with fresh record-highs this week while benchmark interest rates hovered around two-month lows as investors weighed positive earnings news against uncomfortable hot inflation data. Complicating the policy outlook for the Federal Reserve, CPI data showed the fastest monthly rise in consumer prices since August, prompting a pledge from Powell for "more work to do." Snapping a two-week losing streak, the S&P 500 rebounded by 1.5%, closing fractionally below its prior record-high set in late January. The tech-heavy Nasdaq 100 rallied nearly 3%.
Positive
Seeking Alpha
1 week ago
REITs Lead On Earnings Uplift
US equity markets posted a mixed performance this week, while benchmark interest rates rebounded from two-month lows, as investors saw grounds for Fed hawkishness across a critical slate of employment data. The U.S. economy added 143k jobs in January. Upward revisions to prior months and strong wage growth metrics indicated that labor markets remain "healthy" at minimum, and perhaps even "tight." Following a decline of 1% last week sparked by "DeepSeek" concerns, the S&P 500 retreated by 0.2%, relinquishing an early week rally. The Small-Cap and Mid-Cap indexes dipped 1%.
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, technological initiatives and a healthy balance sheet are likely to aid ESS despite the rising supply of units.
Neutral
Business Wire
2 weeks ago
Essex Property Trust Prices $400 Million of Senior Notes
SAN MATEO, Calif.--(BUSINESS WIRE)--Essex Property Trust, Inc. (NYSE:ESS) (“Essex”) announced today that its operating partnership, Essex Portfolio, L.P. (the “Issuer”), priced an underwritten public offering of $400 million aggregate principal amount of 5.375% senior notes due 2035 (the “Notes”). The Notes were priced at 99.604% of par value with a yield to maturity of 5.425%. Interest is payable semiannually at an interest rate per annum of 5.375% on April 1 and October 1 of each year with th.
Positive
Seeking Alpha
2 weeks ago
Essex Property: Shares Have Further Upside Given Limited Housing Supply (Upgrade)
Essex Property Trust, Inc. has seen a 29% increase in shares over the past year due to limited supply and higher rental inflation in California markets. Solid Q4 results, including a 2.3% increase in funds from operations and low turnover rates, support a bullish outlook for Essex into 2025. Rising costs, particularly insurance and personnel, are offset by strong demand fundamentals and limited housing supply, especially post-wildfires.
Neutral
Seeking Alpha
2 weeks ago
Essex Property Trust, Inc. (ESS) Q4 2024 Earnings Call Transcript
Essex Property Trust, Inc. (NYSE:ESS ) Q4 2024 Results Conference Call February 5, 2025 12:00 PM ET Company Participants Angela Kleiman - President, CEO Barb Pak - EVP, CFO Rylan Burns - EVP, Chief Investment Officer Conference Call Participants Nick Yulico - Scotiabank Eric Wolfe - Citibank Austin Wurschmidt - KeyBanc Capital Markets Steve Sakwa - Evercore ISI Jeff Spector - Bank of America Jamie Feldman - Wells Fargo Brad Heffern - RBC Capital Markets Adam Kramer - Morgan Stanley Alexander Goldfarb - Piper Sandler Haendel St. Juste - Mizuho Securities John Kim - BMO Capital Markets Wes Golladay - Baird Rich Hightower - Barclays Julien Blouin - Goldman Sachs Michael Goldsmith - UBS Rich Anderson - Wedbush Securities Tayo Okusanya - Deutsche Bank Alex Kalmus - Zelman & Associates Operator Good day, and welcome to Essex Property Trust Fourth Quarter 2024 Earnings Call. As a reminder, today's call conference is being recorded.
Positive
Zacks Investment Research
2 weeks ago
Essex Property Q4 FFO Beats Estimates, Revenues Increase Y/Y
ESS' Q4 results reflect an increment in same-property revenues and net operating income.
Neutral
Zacks Investment Research
2 weeks ago
Compared to Estimates, Essex Property Trust (ESS) Q4 Earnings: A Look at Key Metrics
While the top- and bottom-line numbers for Essex Property Trust (ESS) give a sense of how the business performed in the quarter ended December 2024, it could be worth looking at how some of its key metrics compare to Wall Street estimates and year-ago values.
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