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 (NYSE:ESS) plans to release its Q2 2021 earnings on July 29, 2021, after market close. A conference call with senior management is set for July 30, 2021, at 10:00 a.m. PT (1:00 p.m. ET). Investors can access the call via the website or by phone. The company is a leading real estate investment trust focused on multifamily properties on the West Coast, with 244 apartment communities and around 60,000 homes. For further details, visit www.essex.com.
Essex Property Trust (NYSE:ESS) has updated its Investor Presentation, raising its guidance for second quarter Core FFO and full-year metrics for same-property revenues and net operating income. This adjustment reflects improved market conditions. Interested parties can access the presentation on the company's website. Additionally, the firm will participate in the NAREIT Institutional Investor Forum from June 8-10, 2021, with the CEO, Michael J. Schall, presenting on June 8 at 2:15 p.m. ET.
Essex Property Trust (NYSE:ESS) announced the pricing of a public offering of $300 million in senior notes maturing in 2031 with an interest rate of 2.550%. The notes will help repay upcoming debts, including $300 million in senior unsecured notes due January 2023. The offering, which closes on June 1, 2021, is managed by various leading financial institutions. Proceeds will also support general corporate purposes. The offering is backed by Essex Property Trust, a fully integrated real estate investment trust focused on West Coast multifamily properties.
Essex Property Trust, Inc. (NYSE:ESS) has declared a quarterly cash dividend of $2.09 per common share, scheduled for payment on July 15, 2021. This dividend will benefit shareholders recorded as of June 30, 2021. Essex is a prominent real estate investment trust (REIT), specializing in multifamily residential properties throughout selected West Coast markets. The company currently owns 244 apartment communities with approximately 60,000 apartment homes and has an additional 5 properties under development.
Essex Property Trust (NYSE:ESS) has released its 2020 Corporate Social Responsibility (CSR) Report, highlighting 27 years of ESG achievements. Key accomplishments include a zero percent gender pay gap and a strong response to the COVID-19 pandemic, emphasizing employee safety and support for residents in hardship. CEO Michael J. Schall acknowledged the team's efforts during an unprecedented year and the ongoing progress toward ESG goals. The report can be accessed on the company's website.
Essex Property Trust reported its Q1 2021 earnings, highlighting a sharp decline in key financial metrics. Net income fell 45.6% to $2.59 per diluted share, while Total FFO decreased by 6.1% to $3.23, and Core FFO dropped 11.8% to $3.07. Same-property gross revenues and NOI declined by 8.1% and 12.3%, attributed to lower rents and increased cash concessions. The company increased its annual dividend to $8.36, marking the 27th consecutive annual increase. Essex disposed of three apartment communities for $275.5 million and issued $450 million in senior unsecured notes.
Essex Property Trust (NYSE:ESS) plans to release its Q1 2021 earnings on April 27, 2021, after market hours. A conference call with senior management will be held on April 28, 2021, at 11:00 a.m. PT. The call is open to all and can be accessed via internet or phone. Essex, an S&P 500 company, is a fully integrated REIT specializing in multifamily residential properties along the West Coast, managing 246 communities with approximately 60,000 homes.
Essex Property Trust (NYSE:ESS) announced that Michael J. Schall, President and CEO, will participate in a virtual roundtable presentation at the 2021 Citigroup Global Property CEO Conference on March 8, 2021, at 2:00 p.m. ET. Investors can access the live panel via the webcast link on the Company’s website. An archive of the presentation will be available for thirty days post-event. Essex, an S&P 500 REIT, owns 246 apartment communities with about 60,000 units and is involved in several ongoing developments.
Essex Property Trust announced an underwritten public offering of $450 million in senior notes due 2028, priced at 99.423% of par value with a 1.700% interest rate. The offering will close on March 1, 2021, and the funds will be used to repay debt and for general corporate purposes. Interest payments will be made semiannually, with the first due September 1, 2021. The notes will be unsecured obligations fully guaranteed by Essex Property Trust. Major underwriters include Wells Fargo, Citigroup, and J.P. Morgan.
Essex Property Trust has announced a $0.05 increase to its annual cash dividend, marking the 27th consecutive annual increase. The first quarter dividend is set at $2.09 per share, payable on April 15, 2021, to shareholders of record by March 31, 2021, equating to an annualized distribution of $8.36 per share. Additionally, the virtual Annual Meeting of Shareholders is scheduled for May 11, 2021, at 1:00 p.m. PT, where shareholders of record by February 26, 2021, will be entitled to vote.