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 (ESS) maintains its position as a leading West Coast multifamily REIT through strategic portfolio management and operational excellence. This news hub provides investors and stakeholders with essential updates spanning corporate developments, financial disclosures, and market activities.
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Essex Property Trust reported strong Q3 2024 results, with Net Income per share rising 35.3% to $1.84 and Core FFO growing 3.4% to $3.91. Same-property revenue increased 3.5% year-over-year, with NOI growth of 2.6%. The company raised its full-year 2024 guidance, with Core FFO now expected between $15.50-$15.62 per share. Notable transactions include acquiring two San Jose properties for $290.5 million and issuing $200 million in senior unsecured notes at 5.1% yield. Portfolio occupancy remained stable at 96.2%, with strong performance across Southern California, Northern California, and Seattle markets.
Essex Property Trust, Inc. (NYSE:ESS), an S&P 500 company and fully integrated real estate investment trust (REIT), has announced the release date for its third quarter 2024 earnings. The company plans to release its earnings after the market closes on Tuesday, October 29, 2024. A conference call with senior management is scheduled for Wednesday, October 30, 2024 at 10:00 a.m. Pacific Time or 1:00 p.m. Eastern Time.
The conference call is open to everyone and can be accessed via the company's website or by phone. A replay of the call will be available online for 30 days and digitally for 7 days. Essex Property Trust specializes in acquiring, developing, redeveloping, and managing multifamily residential properties in selected West Coast markets. The company currently has ownership interests in 255 apartment communities comprising over 62,000 apartment homes.
Essex Property Trust (NYSE:ESS), an S&P 500 company and fully integrated REIT, has declared a quarterly cash dividend of $2.45 per common share. The dividend is payable on October 11, 2024 to shareholders of record as of September 30, 2024. Essex specializes in acquiring, developing, redeveloping, and managing multifamily residential properties in selected West Coast markets. The company currently owns interests in 255 apartment communities, comprising over 62,000 apartment homes.
Essex Property Trust (NYSE: ESS) announced that its operating partnership, Essex Portfolio, L.P., has priced a $200 million add-on offering of senior notes due 2034. The notes, which will be treated as a single series with previously issued $350 million 5.500% senior notes, have a reoffer yield of 5.110% and are priced at 102.871% of par value. Interest is payable semiannually at 5.500% per annum, with the first payment due October 1, 2024. The notes mature on April 1, 2034.
The offering is expected to close on August 21, 2024. Proceeds will be used to repay upcoming debt maturities, including a portion of the $500.0 million 3.500% senior notes due April 2025, and for general corporate purposes. Essex Property Trust is a fully integrated REIT with ownership interests in 255 apartment communities comprising over 62,000 apartment homes in selected West Coast markets.
Essex Property Trust (NYSE: ESS) reported its Q2 2024 earnings. Net income per diluted share decreased 6.5% to $1.45 compared to Q2 2023. Core FFO per diluted share rose 4.5% to $3.94, surpassing guidance by $0.11 due to favorable NOI growth. The company achieved a 3.4% increase in same-property revenue and a 3.0% rise in NOI compared to Q2 2023. Year-over-year blended rate growth improved to 3.4% from Q1's 2.2%. Essex acquired two properties in Northern California for $147.7 million.
Essex raised its full-year 2024 guidance: Net income per diluted share is now expected to be $8.23-$8.47, and Core FFO per diluted share is expected to be $15.38-$15.62. The guidance for same-property revenue growth is revised to 2.70%-3.30%, and same-property NOI growth is raised to 1.80%-2.80%. The company also emphasized its liquidity with $1.1 billion available via undrawn credit facilities, cash equivalents, and marketable securities.
Essex Property Trust (NYSE:ESS) will release its second quarter 2024 earnings after the market closes on July 30, 2024. A conference call with senior management is set for July 31, 2024 at 10:00 a.m. Pacific Time. The call is open to the public and can be accessed via their website or by phone. Essex Property Trust, a fully integrated real estate investment trust (REIT), specializes in acquiring, developing, and managing multifamily residential properties on the West Coast. The company currently holds interests in 254 apartment communities, totaling approximately 62,000 units.
Essex Property Trust (NYSE:ESS) announced a quarterly cash dividend of $2.45 per common share, payable on July 12, 2024, to shareholders recorded by June 28, 2024. The company, a fully integrated real estate investment trust (REIT), focuses on acquiring, developing, redeveloping, and managing multifamily residential properties in West Coast markets. Currently, Essex holds ownership interests in 254 apartment communities, totaling approximately 62,000 apartment homes.
National Storage Affiliates Trust (NYSE: NSA) announced that Michael Schall has been elected to the Board of Trustees, effective May 13, 2024. Schall, with extensive experience in executive leadership and REITs, will join the Audit and Finance Committees. He previously served as President and CEO of Essex Property Trust and currently sits on the Board of Trustees for Pebblebrook Hotel Trust. The announcement emphasized shareholders' strong support for Schall's appointment, expected to enhance NSA's strategic initiatives. NSA will participate in the Nareit REITweek: 2024 Investor Conference from June 4-6, 2024.
Essex Property Trust, Inc. (NYSE:ESS) has released its 2023 Environmental, Social, and Governance (ESG) Report, showcasing progress towards sustainability goals and enhanced benchmark scores. The company has committed to setting science-based greenhouse gas reduction targets and achieved notable recognitions such as a high GRESB score and gender pay parity. For more details, the full report can be accessed on the company's website.
Essex Property Trust, Inc. (NYSE: ESS) reported strong first quarter 2024 results with significant growth in Net Income, Funds from Operations (FFO), and Core FFO per diluted share. The company outperformed its guidance and raised full-year 2024 expectations. Key highlights include increased dividend, property acquisitions, debt issuances, and joint venture activities.
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