Essex Ppty Tr Inc Stock Price, News & Analysis

Essex Property Trust (NYSE:ESS) has announced its latest quarterly dividend distribution. The company's Board of Directors has declared a regular quarterly cash dividend of $2.57 per common share. The dividend will be payable on July 15, 2025, to shareholders of record as of June 30, 2025.

Essex Property Trust, an S&P 500 REIT company, specializes in multifamily residential properties on the West Coast. The company currently manages 257 apartment communities with over 62,000 apartment homes and has an additional property under development.

Essex Property Trust reported mixed Q1 2025 financial results, with Core FFO per share growing 3.7% to $3.97, exceeding guidance by $0.05. However, Net Income declined 25.6% to $3.16 per share compared to Q4 2024.

Key highlights include:

• Same-property revenue growth of 3.4% and NOI growth of 3.3% year-over-year
• Acquired three Northern California properties for $345.4 million
• Sold a Southern California property for $127 million
• Issued $400 million in 10-year senior notes at 5.375%
• Increased dividend by 4.9% to $10.28 per share annually

The company maintained its full-year 2025 guidance with same-property revenue growth projected at 2.25% to 3.75%. Portfolio occupancy remains strong at 96.3%, with notable performance in Northern California (96.8%) and Seattle Metro (96.3%). Essex continues to execute its strategic growth plan with new acquisitions and development projects in core West Coast markets.

Essex Property Trust (NYSE:ESS) has scheduled the release of its first quarter 2025 earnings after market close on Tuesday, April 29, 2025. The company will host a conference call with senior management on Wednesday, April 30, 2025, at 9:00 a.m. Pacific Time (12:00 p.m. Eastern Time).

The conference call will be accessible to all interested parties via internet webcast at www.essex.com or by phone. A replay will be available online for 30 days and digitally for 7 days using the Replay Pin Number 13752743.

Essex Property Trust, an S&P 500 REIT, currently manages a portfolio of 257 apartment communities with over 62,000 apartment homes across selected West Coast markets, with an additional property under development.

Essex Property Trust (NYSE:ESS) has announced significant transaction activity in early 2025, focusing on portfolio reallocation towards Northern California. The company acquired three properties for a total of $345.5 million, comprising 619 apartment homes in Foster City and Menlo Park. These include The Plaza ($161.4M), One Hundred Grand ($105.3M), and ROEN Menlo Park ($78.8M).

Simultaneously, Essex disposed of two Southern California properties for $366.6 million, including Highridge in Rancho Palos Verdes ($127.0M) and Essex Skyline in Santa Ana ($239.6M), totaling 605 apartment homes. The match-funded transactions are reported to be net neutral to the Company's 2025 Core FFO forecast.

The strategic moves target submarkets where Essex anticipates lower supply and higher rent growth, aiming to optimize their operating platform and generate additional yield for investors.

Essex Property Trust (NYSE:ESS) has announced its participation in the 2025 Citigroup Global Property CEO Conference. Angela L. Kleiman, President and CEO, will join a roundtable presentation on Monday, March 3, 2025, at 4:20 p.m. Eastern Time in Hollywood, FL.

The presentation will be accessible via webcast through the company's investor website, with recordings available for 30 days post-event. Conference materials will be accessible through the Investors section of Essex's website.

Essex Property Trust, an S&P 500 REIT, specializes in multifamily residential properties across West Coast markets. The company currently manages a portfolio of 256 apartment communities, totaling over 62,000 apartment homes, with additional property under development.

Essex Property Trust (NYSE:ESS) has announced its 31st consecutive annual dividend increase, with the Board of Directors approving a 4.9% increase to its annual cash dividend. The company 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, this represents a distribution of $10.28 per common share.

The company also announced its Annual Meeting of Shareholders, to be held virtually on Tuesday, May 13, 2025, at 10:00 a.m. Pacific Time. Shareholders of record as of February 28, 2025, will be entitled to vote at the meeting. Essex Property Trust, an S&P 500 company, currently manages 256 apartment communities comprising over 62,000 apartment homes in selected West Coast markets.

Essex Property Trust (NYSE:ESS) announced that its operating partnership, Essex Portfolio, L.P., has priced a $400 million public offering of senior notes due 2035. The notes were priced at 99.604% of par value with a 5.425% yield to maturity and carry a 5.375% interest rate, payable semiannually on April 1 and October 1, starting October 1, 2025.

The proceeds will primarily be used to repay upcoming debt maturities, including funding part of the repayment of the issuer's $500.0 million 3.500% senior notes due April 2025. Additional uses include general corporate purposes, working capital, and potential acquisition funding. Initially, the proceeds may be used to repay outstanding borrowings under unsecured credit facilities or invested in short-term securities.

The offering, expected to close on February 18, 2025, was managed by several financial institutions, with J.P. Morgan Securities, U.S. Bancorp Investments, and Wells Fargo Securities serving as joint book-running managers.

Essex Property Trust (NYSE:ESS) reported its Q4 and full-year 2024 results, with significant year-over-year growth. Net Income per share reached $4.00 in Q4 2024, up 292.2% from Q4 2023, while full-year Net Income grew 82.6% to $11.54. Core FFO per share increased by 2.3% to $3.92 in Q4 and by 3.8% to $15.60 for the full year.

The company achieved same-property revenue growth of 2.6% and NOI growth of 1.7% in Q4 2024. For the full year, same-property revenues grew 3.3% and NOI increased 2.6%. In 2024, Essex acquired or increased ownership in 13 apartment communities for $1.4 billion and disposed of one property for $252.4 million.

For 2025, Essex provided guidance with Core FFO projected at $15.56-$16.06 per share, and same-property revenue growth expected between 2.25% and 3.75%. The company plans acquisitions of $500M-$1.5B and dispositions of $250M-$750M.

Essex Property Trust (NYSE:ESS) has disclosed the income tax treatment for its 2024 dividend distributions. The company distributed a total of $9.66 per share across four quarterly payments: $2.31 (January), $2.45 (April), $2.45 (July), and $2.45 (October). Of the total distribution, 98.191% ($9.48525) is classified as ordinary taxable dividend, while 1.809% ($0.17475) qualifies as capital gain.

The distributions include Section 199A dividends of $9.48525 and Section 897 gains of $0.17475. Essex, an S&P 500 REIT, currently manages 254 apartment communities with approximately 62,000 apartment homes across selected West Coast markets. The company reported no foreign taxes for 2024.