Welcome to our dedicated page for Essex Ppty Tr news (Ticker: ESS), a resource for investors and traders seeking the latest updates and insights on Essex Ppty Tr stock.
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) has declared a quarterly cash dividend of $2.0775 per share, scheduled for payment on January 15, 2021. Shareholders must be on record by January 4, 2021 to receive the dividend. As a fully integrated real estate investment trust, Essex focuses on acquiring, developing, and managing multifamily residential properties primarily on the West Coast. The company currently holds interests in 246 apartment communities, totaling approximately 60,000 apartment homes, with another 6 properties in development.
Essex Property Trust (NYSE: ESS) reported its third quarter 2020 earnings, revealing a 25.2% drop in Net Income to $1.13 per diluted share, compared to $1.51 in Q3 2019. Funds from Operations (FFO) also fell 17.7% year-over-year. Same-property gross revenue and net operating income (NOI) declined by 6.7% and 10.8%, respectively, largely due to $16.8 million in cash concessions. The company disposed of one apartment community for $51.5 million and repurchased shares under its buyback program. As of October 22, 2020, liquidity stood at approximately $1.7 billion.
Essex Property Trust, Inc. (NYSE:ESS) will release its third quarter 2020 earnings on October 28, 2020, after market close. A conference call for investors is set for October 29, 2020, at 9:00 a.m. Pacific Time. The call is accessible via the company's website or by phone (877-407-0784). A replay will be available online for 30 days and digitally for 7 days after the call.
Essex is a publicly traded real estate investment trust specializing in multifamily properties, with interests in 247 communities totaling about 60,000 homes.