Essex Property Trust Past Earnings Performance

Past criteria checks 2/6

Essex Property Trust's earnings have been declining at an average annual rate of -1.2%, while the Residential REITs industry saw earnings growing at 18.9% annually. Revenues have been growing at an average rate of 2.2% per year. Essex Property Trust's return on equity is 10.2%, and it has net margins of 31.4%.

Key information

-1.2%

Earnings growth rate

-0.6%

EPS growth rate

Residential REITs Industry Growth	14.7%
Revenue growth rate	2.2%
Return on equity	10.2%
Net Margin	31.4%
Last Earnings Update	30 Sep 2024

Recent past performance updates

Recent updates

Revenue & Expenses Breakdown

How Essex Property Trust makes and spends money. Based on latest reported earnings, on an LTM basis.

Earnings and Revenue History

LSE:0IIR Revenue, expenses and earnings (USD Millions)
Date	Revenue	Earnings	G+A Expenses
30 Sep 24	1,752	549	87
30 Jun 24	1,720	518	73
31 Mar 24	1,696	525	65
31 Dec 23	1,680	406	63
30 Sep 23	1,698	526	60
30 Jun 23	1,690	531	60
31 Mar 23	1,653	489	60
31 Dec 22	1,633	408	57
30 Sep 22	1,638	360	58
30 Jun 22	1,606	386	55
31 Mar 22	1,583	393	54
31 Dec 21	1,552	489	52
30 Sep 21	1,505	447	58
30 Jun 21	1,502	403	58
31 Mar 21	1,521	422	61
31 Dec 20	1,562	569	65
30 Sep 20	1,631	602	58
30 Jun 20	1,634	628	56
31 Mar 20	1,625	635	55
31 Dec 19	1,584	439	54
30 Sep 19	1,514	428	56
30 Jun 19	1,493	410	55
31 Mar 19	1,478	418	52
31 Dec 18	1,486	390	53
30 Sep 18	1,467	376	47
30 Jun 18	1,454	375	46
31 Mar 18	1,439	345	46
31 Dec 17	1,450	433	41
30 Sep 17	1,388	525	43
30 Jun 17	1,373	511	43
31 Mar 17	1,354	512	42
31 Dec 16	1,330	411	41
30 Sep 16	1,307	295	37
30 Jun 16	1,279	272	39
31 Mar 16	1,249	245	39
31 Dec 15	1,216	227	40
30 Sep 15	1,187	187	43
30 Jun 15	1,153	199	44
31 Mar 15	1,118	154	44
31 Dec 14	999	117	41
30 Sep 14	907	92	35
30 Jun 14	790	94	30
31 Mar 14	681	117	28
31 Dec 13	666	120	27

Quality Earnings: 0IIR has a large one-off gain of $222.5M impacting its last 12 months of financial results to 30th September, 2024.

Growing Profit Margin: 0IIR's current net profit margins (31.4%) are higher than last year (30.9%).

Free Cash Flow vs Earnings Analysis

Past Earnings Growth Analysis

Earnings Trend: 0IIR's earnings have declined by 1.2% per year over the past 5 years.

Accelerating Growth: 0IIR's earnings growth over the past year (4.5%) exceeds its 5-year average (-1.2% per year).

Earnings vs Industry: 0IIR earnings growth over the past year (4.5%) did not outperform the Residential REITs industry 101.3%.

Essex Property Trust Past Earnings Performance

Past criteria checks 2/6

Key information

Recent past performance updates

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

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

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

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

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

Second quarter 2022 earnings released: EPS: US$0.87 (vs US$1.00 in 2Q 2021)

Essex Property Trust, Inc. to Report Q2, 2022 Results on Jul 26, 2022

Upcoming dividend of US$2.20 per share

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

Essex Property Trust, Inc. Declares Quarterly Dividend, Payable on July 15, 2022

First quarter 2022 earnings released: FFO: US$403.1m per share (vs US$3.34 in 1Q 2021)

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

Insufficient new directors

Essex Property Trust, Inc. to Report Q1, 2022 Results on Apr 26, 2022

Upcoming dividend of US$2.20 per share