Essex Property Trust (NYSE:ESS) - Stock Price, News & Analysis

ESS 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

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

Rewards

Trading at 20% below our estimate of its fair value

Pays a reliable dividend of 3.26%

Risk Analysis

Interest payments are not well covered by earnings

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

Large one-off items impacting financial results

Community Narratives

Create a narrative

Narratives bring a range of perspectives from our community.

WarrenAI

Based on Analyst Price Targets

Shrinking Margins And Overvalued PE Threaten REIT's Stability Amidst Growth Hopes

Key Takeaways Higher FFO growth expectations are driven by increased revenue and improved delinquency rates, enhancing earnings potential and per-share growth. Returning tech jobs and strategic debt refinancing are expected to boost occupancy, lease pricing, and strengthen the balance sheet, positively impacting long-term earnings.

View narrative

US$304.30

1.2% undervalued

3.70%

Revenue growth p.a.

Updated

Essex Property Trust, Inc. Competitors

Mid-America Apartment Communities

NYSE:MAA

US$19.0b

UDR

NYSE:UDR

US$16.6b

Equity Residential

NYSE:EQR

US$29.1b

AvalonBay Communities

NYSE:AVB

US$32.6b

Price History & Performance

Summary of all time highs, changes and price drops for Essex Property Trust
Historical stock prices
Current Share Price	US$300.59
52 Week High	US$317.73
52 Week Low	US$210.36
Beta	0.90
11 Month Change	3.16%
3 Month Change	3.53%
1 Year Change	41.22%
33 Year Change	-15.86%
5 Year Change	-3.95%
Change since IPO	1,451.43%

Essex Property Trust: Tailwinds From Both Supply And Demand

Oct 03

Recent updates

Essex Property Trust Is Clearly The Best Bargain When It Comes To Residential REITs

Jan 12

Why Buy Rentals When You Can Buy Essex Property

Dec 16

Essex Property Trust declares $2.20 dividend

Dec 09

Apartments In Free Fall, So I Bought Essex

Nov 09

Essex Property Trust: Long-Term Compounder In The Bargain Bin

Oct 20

Essex Property Trust declares $2.20 dividend

Sep 15

Essex Property Trust: Another Beat-And-Raise Quarter

Aug 21

Shareholder Returns

	ESS	US Residential REITs	US Market
7D	-2.2%	-1.5%	-1.0%
1Y	41.2%	21.8%	30.3%

Return vs Industry: ESS exceeded the US Residential REITs industry which returned 23.2% over the past year.

Return vs Market: ESS exceeded the US Market which returned 30.4% over the past year.

Price Volatility

Is ESS's price volatile compared to industry and market?
ESS volatility
ESS Average Weekly Movement	3.0%
Residential REITs Industry Average Movement	2.9%
Market Average Movement	6.2%
10% most volatile stocks in US Market	15.7%
10% least volatile stocks in US Market	3.1%

Stable Share Price: ESS has not had significant price volatility in the past 3 months compared to the US market.

Volatility Over Time: ESS'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?
ESS fundamental statistics
Market cap	US$20.10b
Earnings (TTM)	US$549.46m
Revenue (TTM)	US$1.75b

35.2x

P/E Ratio

11.0x

P/S Ratio

Is ESS overvalued?

See Fair Value and valuation analysis

Earnings & Revenue

Key profitability statistics from the latest earnings report (TTM)
ESS 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 ESS perform over the long term?

See historical performance and comparison

Dividends

3.3%

Current Dividend Yield

57%

Payout Ratio

ESS Stock Overview

Rewards

Risk Analysis

Shrinking Margins And Overvalued PE Threaten REIT's Stability Amidst Growth Hopes

Essex Property Trust, Inc. Competitors

NYSE:MAA

US$19.0b

NYSE:UDR

US$16.6b

NYSE:EQR

US$29.1b

NYSE:AVB

US$32.6b

Price History & Performance

Recent News & Updates

Third quarter 2024 earnings: EPS exceeds analyst expectations

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

Now 21% undervalued

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

Essex Property Trust: Tailwinds From Both Supply And Demand

Now 20% undervalued

Recent updates

Third quarter 2024 earnings: EPS exceeds analyst expectations

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

Now 21% undervalued

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

Essex Property Trust: Tailwinds From Both Supply And Demand

Now 20% undervalued

Upcoming dividend of US$2.45 per share

President notifies of intention to sell stock

Second quarter dividend of US$2.45 announced

Essex Property Trust: High-Quality REIT With A Growing Dividend

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: EPS and revenues exceed analyst expectations

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

Essex Property Trust: The Buying Window Has Now Closed

Now 20% undervalued

First quarter dividend of US$2.45 announced

Essex Property Trust: 3 Reasons Why The Stock May Be Overvalued

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

Now 20% undervalued

Consensus EPS estimates increase by 22%

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

Essex Property Trust: A Dividend Aristocrat Worth Buying Now

Upcoming dividend of US$2.45 per share

Fourth quarter dividend increased to US$2.45

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

Essex Property Trust: Build And Buy Apartments Like A Pro

Full year 2023 earnings: EPS misses analyst expectations

Essex Property Trust: A Growth REIT With An Attractive Yield

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: I Expect The West Coast To Outperform Next

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

Essex Property Trust: Still Has Potential

Essex Property Trust: Low Yield, Small Discount To NAV

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

Third quarter 2023 earnings: EPS misses analyst expectations

Essex Property Trust: California Exposure Isn't That Problematic

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

Essex Property Trust: Dividend Yield At A High

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

Essex Property Trust: Don't Mind The California Exposure

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

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

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

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

Essex Property: A Smart Value For A Frothy Market

Now 20% undervalued after recent price drop

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