Essex Property Trust, Inc. reports recurring financial and operating updates for an apartment portfolio concentrated in Southern California, Northern California and the Seattle metro area. Company news commonly covers net income, Funds from Operations and Core FFO, as well as same-property revenue and net operating income by West Coast submarket.
Recurring announcements also include common-stock dividend declarations and distribution tax characteristics, annual-shareholder-meeting record dates, proxy-related meeting logistics and management participation in real estate conferences. Capital-market items may involve Essex Portfolio, L.P., the operating partnership used in the company’s financing structure.
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.
Essex Property Trust (NYSE:ESS) has been recognized on Newsweek’s list of America’s Most Responsible Companies 2022, advancing 201 positions from last year. The firm ranked 2nd among multifamily REITs, 7th in the Real Estate & Housing sector, and 105th overall out of 500 companies. This recognition underscores Essex's ongoing commitment to corporate social responsibility amidst pandemic challenges. Detailed insights into the company's ESG efforts and achievements are available in their Corporate Social Responsibility Report.
Essex Property Trust, Inc. (NYSE:ESS) has declared a quarterly cash dividend of $2.09 per common share. This dividend is payable on January 14, 2022, to shareholders recorded by January 3, 2022. Essex is an S&P 500 company focused on acquiring, developing, and managing multifamily residential properties along the West Coast, owning interests in 247 apartment communities with approximately 60,000 apartment homes and three properties in active development.
Essex Property Trust reported its Q3 2021 earnings with net income per diluted share rising to $1.82, up 61.1% from Q3 2020, mainly due to higher real estate sales gains. Total FFO reached $3.34 per share, a 16.0% increase, while Core FFO slightly declined by 1.0% to $3.12. The company has increased its full-year net income guidance and Core FFO expectations due to improved operating results and demand for housing. Notably, same-property revenues increased by 2.7% year-over-year and 3.2% sequentially, driven by rising rents and lower concessions.
Essex Property Trust, Inc. (NYSE:ESS) will announce its third quarter 2021 earnings after market hours on October 26, 2021. A conference call with management is scheduled for October 27, 2021, at 11:00 a.m. PT. The call is accessible via the company's website or by phone. Essex is a leading real estate investment trust focused on multifamily properties on the West Coast, managing 246 communities with approximately 60,000 units, and has three additional projects under development.
Essex Property Trust, Inc. (NYSE:ESS) announced that President and CEO Michael J. Schall will participate in the Bank of America Securities 2021 Global Real Estate Conference on September 21, 2021, at 11:15 a.m. ET. An updated September 2021 Investor Presentation is available on the Company's website. A live webcast of the event will be provided, with an archive accessible for 14 days post-event. Essex is a fully integrated REIT focused on multifamily properties on the West Coast, managing 246 communities and approximately 60,000 homes.
Essex Property Trust, Inc. (NYSE:ESS) has declared a quarterly cash dividend of $2.09 per common share, payable on October 15, 2021. Shareholders of record as of September 30, 2021 will receive this dividend. The company is a fully integrated real estate investment trust (REIT), focusing on multifamily residential properties across the West Coast, currently owning 246 apartment communities with around 60,000 apartment homes and three additional properties under development.
Essex Property Trust, Inc. (NYSE:ESS) has reaffirmed its full-year and Q3 2021 guidance while providing a preliminary operating update. The company reported a same-property revenue change of -8.1% in Q1 2021 and -3.0% in Q2 2021, with a preliminary increase of 2.6% for July-August 2021. Cash delinquencies were at 2.1% in Q1 2021, with a slight increase to 2.6% in Q2 2021. Financial occupancy remained stable at 96.7% in Q1, slightly decreasing to 96.4% in August 2021. Essex operates 246 communities with approximately 60,000 homes across the West Coast.
Essex Property Trust reported its Q2 2021 earnings showing a net income of $1.00 per diluted share, down 22.5% from $1.29 in Q2 2020, and a Core FFO of $3.04, exceeding guidance. However, same-property revenues and NOI declined by 3.0% and 4.2% respectively. The company raised guidance for full-year Net Income and Core FFO but noted continued pandemic-related uncertainty. Despite challenges, liquidity stands at approximately $1.3 billion, and the company experiences a growth in rents, slightly surpassing pre-pandemic levels.