Essex Property Trust Inc Price, Forecast, Insider, Ratings, Fundamentals & Signals

San mateo, calif.--(business wire)--essex property trust, inc. (nyse:ess) announces the publication of its 2023 environmental, social, and governance (“esg”) report which highlights the company's notable progress towards its goals introduced in its 2022 esg report, improved benchmark scores, and our recent commitment to setting science-based, near-term greenhouse gas (“ghg”) reduction targets through the science based targets initiative (“sbti”). “over the last several years, our residents, emp.

San mateo, calif.--(business wire)--essex property trust, inc. (nyse: ess) (the “company”) announced today its first quarter 2024 earnings results and related business activities. net income, funds from operations (“ffo”), and core ffo per diluted share for the quarter ended march 31, 2024 are detailed below.   three months ended march 31,     %   2024 2023 change per diluted share       net income $4.25 $2.38 78.6% total ffo $4.60 $3.80 21.1% core ffo $3.83 $3.65 4.9% first quarter 2024 highli.

San mateo, calif.--(business wire)--essex property trust, inc. (nyse:ess) announced today that it plans to release its first quarter 2024 earnings after the market closes on tuesday, april 30, 2024. a conference call with senior management is scheduled for wednesday, may 1, 2024 at 10:00 a.m. pacific time or 1:00 p.m. eastern time. the first quarter conference call is open to everyone and can be accessed by: internet: go to www.essex.com; click on investors and the first quarter earnings webcas.

San mateo, calif.--(business wire)--essex property trust, inc. (nyse:ess) announced today that it acquired its joint venture partner's 49.9% interest in the bexaew portfolio for a total purchase price of $505.0 million on a gross basis. the seller's cap rate is approximately 5.25%; however, after incorporating additional economic benefits by fully integrating this portfolio into our operating platform, we estimate a 5.9% year-one yield. concurrent with closing, the company repaid $219.9 million.

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 $350 million aggregate principal amount of 5.500% senior notes due 2034 (the “notes”). the notes were priced at 99.752% of par value with a yield to maturity of 5.532%. interest is payable semiannually at an interest rate per annum of 5.500% on april 1 and october 1 of each year with th.

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Essex Property Trust, Inc. (NYSE:ESS ) Q1 2024 Earnings Conference Call May 1, 2024 1:00 PM ET Company Participants Angela Kleiman - President and Chief Executive Officer Barb Pak - Chief Financial Officer & Executive Vice President Rylan Burns - Executive Vice President and Chief Investment Officer Conference Call Participants Austin Wurschmidt - KeyBanc Capital Markets Daniel Tricarico - Scotiabank Alexander Goldfarb - Piper Sandler James Feldman - Wells Fargo Joshua Dennerlein - Bank of America Haendel St. Juste - Mizuho John Kim - BMO Capital Markets Adam Kramer - Morgan Stanley Brad Heffern - RBC Capital Markets Richard Anderson - Wedbush Operator Good day, and welcome to the Essex Property Trust First Quarter 2024 Earnings Call...

Essex Property's (ESS) Q1 results reflect improving same-property revenues. This residential REIT has also revised its 2024 guidance.

The headline numbers for Essex Property Trust (ESS) give insight into how the company performed in the quarter ended March 2024, but it may be worthwhile to compare some of its key metrics to Wall Street estimates and the year-ago actuals.

Essex Property Trust (ESS) came out with quarterly funds from operations (FFO) of $3.83 per share, beating the Zacks Consensus Estimate of $3.74 per share. This compares to FFO of $3.65 per share a year ago.

Residential REITs are likely to have gained from portfolio diversification and technological initiatives in Q1, though high supply and elevated interest rates are likely to have acted as dampeners.

While Essex Property's (ESS) Q1 results are likely to show the benefits of a solid property base and technological initiatives, elevated supply and higher interest expenses might have limited the growth tempo.

Essex Property Trust (ESS) is seeing favorable earnings estimate revision activity and has a positive Zacks Earnings ESP heading into earnings season.

Inflation is rising, causing bond rates to increase and stock prices to fall. REITs, which are income-oriented and interest rate sensitive, are particularly affected. This creates a buying opportunity for high-quality REITs with long-term potential.