Essex Property Trust (LSE:0IIR) - Stock Price, News & Analysis

0IIR Stock Overview

An S&P 500 company, is a fully integrated real estate investment trust (REIT) that acquires, develops, redevelops, and manages multifamily residential properties in selected West Coast markets. More details

0IIR fundamental analysis
Snowflake Score
Valuation	2/6
Future Growth	1/6
Past Performance	2/6
Financial Health	0/6
Dividends	5/6

Rewards

Trading at 20.5% below our estimate of its fair value

Revenue is forecast to grow 3.69% per year

Pays a reliable dividend of 3.21%

Risk Analysis

Earnings are forecast to decline by an average of 8.3% per year for the next 3 years

Interest payments are not well covered by earnings

Large one-off items impacting financial results

Essex Property Trust, Inc. Competitors

Unite Group

LSE:UTG

UK£4.2b

Empiric Student Property

LSE:ESP

UK£569.6m

Home Reit

LSE:HOME

UK£300.8m

Triple Point Social Housing REIT

LSE:SOHO

UK£242.0m

Price History & Performance

Summary of all time highs, changes and price drops for Essex Property Trust
Historical stock prices
Current Share Price	US$307.08
52 Week High	US$317.47
52 Week Low	US$210.58
Beta	0.90
11 Month Change	3.00%
3 Month Change	4.59%
1 Year Change	43.44%
33 Year Change	-9.87%
5 Year Change	-1.73%
Change since IPO	33.61%

Recent updates

Shareholder Returns

	0IIR	GB Residential REITs	GB Market
7D	2.0%	0.3%	2.2%
1Y	43.4%	-7.8%	8.0%

Return vs Industry: 0IIR exceeded the UK Residential REITs industry which returned -7.8% over the past year.

Return vs Market: 0IIR exceeded the UK Market which returned 8% over the past year.

Price Volatility

Is 0IIR's price volatile compared to industry and market?
0IIR volatility
0IIR Average Weekly Movement	2.9%
Residential REITs Industry Average Movement	3.0%
Market Average Movement	4.8%
10% most volatile stocks in GB Market	10.3%
10% least volatile stocks in GB Market	2.6%

Stable Share Price: 0IIR has not had significant price volatility in the past 3 months compared to the UK market.

Volatility Over Time: 0IIR's weekly volatility (3%) has been stable over the past year.

About the Company

Founded	Employees	CEO	Website
1971	1,749	Angela Kleiman	www.essexapartmenthomes.com

Essex Property Trust, Inc., an S&P 500 company, is a fully integrated real estate investment trust (REIT) that acquires, develops, redevelops, and manages multifamily residential properties in selected West Coast markets. Essex currently has ownership interests in 254 apartment communities comprising approximately 62,000 apartment homes.

Essex Property Trust, Inc. Fundamentals Summary

How do Essex Property Trust's earnings and revenue compare to its market cap?
0IIR fundamental statistics
Market cap	US$20.35b
Earnings (TTM)	US$549.46m
Revenue (TTM)	US$1.75b

35.7x

P/E Ratio

11.2x

P/S Ratio

Is 0IIR overvalued?

See Fair Value and valuation analysis

Earnings & Revenue

Key profitability statistics from the latest earnings report (TTM)
0IIR income statement (TTM)
Revenue	US$1.75b
Cost of Revenue	US$555.88m
Gross Profit	US$1.20b
Other Expenses	US$647.11m
Earnings	US$549.46m

Last Reported Earnings

Sep 30, 2024

Next Earnings Date

n/a

Earnings per share (EPS)	8.55
Gross Margin	68.28%
Net Profit Margin	31.35%
Debt/Equity Ratio	112.4%

How did 0IIR perform over the long term?

See historical performance and comparison

Dividends

3.2%

Current Dividend Yield

57%

Payout Ratio

0IIR Stock Overview

Rewards

Risk Analysis

Essex Property Trust, Inc. Competitors

LSE:UTG

UK£4.2b

LSE:ESP

UK£569.6m

LSE:HOME

UK£300.8m

LSE:SOHO

UK£242.0m

Price History & Performance

Recent News & Updates

Third quarter 2024 earnings released: EPS: US$1.84 (vs US$1.36 in 3Q 2023)

Essex Property Trust, Inc. (NYSE:ESS) acquired 376-unit apartment home community located in San Jose, CA for approximately $310 million.

Essex Property Trust, Inc. to Report Q3, 2024 Results on Oct 29, 2024

Upcoming dividend of US$2.45 per share

Now 20% undervalued

Second quarter dividend of US$2.45 announced

Recent updates

Third quarter 2024 earnings released: EPS: US$1.84 (vs US$1.36 in 3Q 2023)

Essex Property Trust, Inc. (NYSE:ESS) acquired 376-unit apartment home community located in San Jose, CA for approximately $310 million.

Essex Property Trust, Inc. to Report Q3, 2024 Results on Oct 29, 2024

Upcoming dividend of US$2.45 per share

Now 20% undervalued

Second quarter dividend of US$2.45 announced

Essex Property Trust, Inc. has filed a Follow-on Equity Offering in the amount of $900 million.

Essex Property Trust, Inc. Revises Earnings Guidance for the Full Year of 2024

Second quarter 2024 earnings released: EPS: US$1.45 (vs US$1.55 in 2Q 2023)

Essex Property Trust, Inc. (NYSE:ESS) acquired Two apartment home communities in Northern California for approximately $150 million.

Essex Property Trust, Inc. to Report Q2, 2024 Results on Jul 30, 2024

President recently sold US$1.1m worth of stock

Vice Chairman of the Board recently sold US$2.7m worth of stock

First quarter dividend of US$2.45 announced

Now 20% undervalued

Essex Property Trust, Inc Declares Regular Quarterly Cash Dividend, Payable July 12, 2024

Essex Property Trust, Inc. Updates Earnings Guidance for the Full Year 2024

First quarter 2024 earnings released: EPS: US$4.25 (vs US$2.38 in 1Q 2023)

Essex Property Trust, Inc. to Report Q1, 2024 Results on Apr 30, 2024

Upcoming dividend of US$2.45 per share

Full year 2023 earnings released: FFO per share: US$15.8 (vs US$14.19 in FY 2022)

Fourth quarter dividend increased to US$2.45

Essex Property Trust, Inc., Annual General Meeting, May 14, 2024

Full year 2023 earnings released: EPS: US$6.32 (vs US$6.27 in FY 2022)

Essex Property Trust, Inc. to Report Q4, 2023 Results on Feb 06, 2024

Upcoming dividend of US$2.31 per share at 3.8% yield

Essex Property Trust, Inc. Announces Board Changes, Effective January 1, 2024

Essex Property Trust, Inc. Declares Regular Quarterly Cash Dividend, Payable on January 12, 2024

Essex Property Trust, Inc. Revises Earnings Guidance for the Year 2023

Third quarter 2023 earnings released: EPS: US$1.36 (vs US$1.43 in 3Q 2022)

Essex Property Trust, Inc. to Report Q3, 2023 Results on Oct 26, 2023

Upcoming dividend of US$2.31 per share at 4.1% yield

Essex Property Trust, Inc. Declares Regular Quarterly Cash Dividend, Payable on October 13, 2023

Essex Property Trust, Inc Announces Executive Changes

Essex Property Trust, Inc. Revises Earnings Guidance for the Full Year 2023

Second quarter 2023 earnings released: FFO per share: US$4.0 (vs US$3.24 in 2Q 2022)

Essex Property Trust, Inc. (NYSE:ESS) acquired Hacienda at Camarillo Oaks for $23.1 million.

Essex Property Trust, Inc. to Report Q2, 2023 Results on Jul 27, 2023

Now 21% undervalued

Upcoming dividend of US$2.31 per share at 4.0% yield

Essex Property Trust, Inc. Declares Regular Quarterly Cash Dividend, Payable on July 14, 2023

First quarter 2023 earnings released: FFO per share: US$3.9 (vs US$3.49 in 1Q 2022)

Insufficient new directors

Now 23% undervalued

Full year 2022 earnings released: EPS: US$6.27 (vs US$7.51 in FY 2021)

Essex Property Trust, Inc. Provides Earnings Guidance for the Year 2023

Now 21% undervalued

Essex Property Trust, Inc. to Report Q4, 2022 Results on Feb 07, 2023

Upcoming dividend of US$2.20 per share

Essex Property Trust, Inc. Declares Quarterly Distribution, Payable January 13, 2023

Independent Director recently bought US$218k worth of stock

Hagens Berman Downtown Seattle Renters Sue Leasing Companies for Allegedly Illegally Inflating Rents in City’s Densest Neighborhoods

Third quarter 2022 earnings released: FFO per share: US$3.6 (vs US$3.46 in 3Q 2021)

Essex Property Trust, Inc. (NYSE:ESS) announces an Equity Buyback for $500 million worth of its shares.

Essex Property Trust, Inc. to Report Q3, 2022 Results on Oct 26, 2022

Essex Property Trust, Inc. Announces Executive Changes

Upcoming dividend of US$2.20 per share

Essex Property Trust, Inc. Declares Quarterly Dividend, Payable on October 14, 2022

Essex Property Trust, Inc. Revises Earnings Guidance for the Full Year of 2022