Market Summary
USD215.64-3.44
Market Closed-1.57%
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ESS Stock Price
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ESS Price/Sales (Trailing)
ESS Profitability
ESS Fundamentals
ESS Revenue
ESS Earnings
Price Action
52 Week Range
195.03250.15
(Low)(High)
Last 7 days
-2.7%
Last 30 days
-6.4%
Last 90 days
-0.4%
Trailing 12 Months
-10.7%
ESS Financial Health
ESS Investor Care
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Net sales
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Latest Insider Trading transactions for ESS
Filter Transactions| Datesorted ascending | Name | Buy/Sell | $ Value | Avg. Price | # Shares | Title |
|---|---|---|---|---|---|---|
2023-05-09 | HAWTHORNE MARIA R | acquired | - | - | 717 | - |
2023-05-09 | SCORDELIS BYRON A | acquired | - | - | 717 | - |
2022-12-09 | Pak Barbara | acquired | - | - | 1,164 | executive vice president & cfo |
2022-12-09 | Farias John | acquired | - | - | 536 | senior vice president and cao |
2022-12-02 | Johnson Amal M | bought | 109,220 | 218 | 500 | - |
2022-11-30 | ROBINSON THOMAS E | gifted | - | - | -891 | - |
2022-05-10 | MARCUS GEORGE M | acquired | - | - | 960 | - |
2022-03-29 | Kleiman Angela L. | acquired | 1,569,050 | 248 | 6,309 | sr. evp & coo |
2022-03-29 | Kleiman Angela L. | sold | -2,234,710 | 354 | -6,309 | sr. evp & coo |
Which funds bought or sold ESS recently?
View All Details| Datesorted ascending | Fund Name | Type | % Chg | $ Change | $ Held | % Portfolio |
|---|---|---|---|---|---|---|
2023-09-20 | BARCLAYS PLC | added | 94.84 | 13,532,000 | 24,974,000 | 0.02% |
2023-09-12 | Farther Finance Advisors, LLC | added | 0.32 | 8,009 | 72,633 | 0.02% |
2023-08-28 | DT Investment Partners, LLC | unchanged | - | 6,943 | 72,480 | 0.01% |
2023-08-24 | Alberta Investment Management Corp | unchanged | - | 57,868 | 538,890 | -% |
2023-08-23 | WOLVERINE TRADING, LLC | reduced | -12.04 | 3,439 | 909,439 | -% |
2023-08-23 | Stonebridge Capital Advisors LLC | unchanged | - | 755 | 7,029 | -% |
2023-08-22 | VIRGINIA RETIREMENT SYSTEMS ET AL | reduced | -1.59 | 134,323 | 1,445,630 | 0.01% |
2023-08-22 | US Asset Management LLC | sold off | -100 | -45,000 | - | -% |
2023-08-21 | BOKF, NA | reduced | -58.28 | -47,782 | 41,939 | -% |
2023-08-21 | TEACHERS RETIREMENT SYSTEM OF THE STATE OF KENTUCKY | reduced | -2.72 | 112,000 | 1,364,000 | 0.01% |
Latest Funds Activity
Calls
Puts
Net Call Options
No. of Funds
ESS Alerts
Schedule 13G FIlings of Essex Property Trust
| Date Filed | Name of Filer | Percent of Class | No. of Shares | Form Type | |
|---|---|---|---|---|---|
| Feb 14, 2023 | cohen & steers, inc. | 1.75% | 1,134,467 | SC 13G/A | |
| Feb 09, 2023 | vanguard group inc | 16.54% | 10,708,186 | SC 13G/A | |
| Feb 01, 2023 | state street corp | 9.05% | 5,861,505 | SC 13G/A | |
| Jan 26, 2023 | blackrock inc. | 10.9% | 7,074,866 | SC 13G/A | |
| Jan 20, 2023 | blackrock inc. | 10.9% | 7,074,866 | SC 13G/A | |
| Feb 14, 2022 | cohen & steers, inc. | 8.49% | 5,527,850 | SC 13G/A | |
| Feb 11, 2022 | state street corp | 7.56% | 4,922,335 | SC 13G/A | |
| Feb 10, 2022 | vanguard group inc | 16.03% | 10,430,735 | SC 13G/A | |
| Jan 27, 2022 | blackrock inc. | 10.3% | 6,686,520 | SC 13G/A | |
| Jan 26, 2022 | blackrock inc. | 10.3% | 6,686,520 | SC 13G/A |
Recent SEC filings of Essex Property Trust
View All Filings| Date Filed | Form Type | Document | |
|---|---|---|---|
| Sep 07, 2023 | 8-K | Current Report | |
| Aug 28, 2023 | 8-K | Current Report | |
| Jul 28, 2023 | 10-Q | Quarterly Report | |
| Jul 27, 2023 | 8-K | Current Report |
Peers (Alternatives to Essex Property Trust)
View All Peers In Detail| Name | Mkt Capsorted ascending | Revenue | Price %, 1M | Returns, 1Y | P/E | P/S | Rev 1-Yr | Inc 1-Yr |
|---|---|---|---|---|---|---|---|---|
| LARGE-CAP | ||||||||
PSA | 48.1B | 4.4B | -0.64% | -17.74% | 11.24 | 10.95 | 14.80% | 87.79% |
DLR | 36.9B | 5.1B | 0.18% | 16.53% | 86.19 | 7.19 | 13.73% | -68.04% |
EQR | 22.8B | 2.0B | -3.50% | -10.37% | 27.35 | 11.3 | -22.97% | -33.54% |
ARE | 20.0B | 2.7B | -10.04% | -26.51% | 26.64 | 7.46 | 15.16% | 88.51% |
KIM | 11.0B | 1.8B | -3.28% | -9.24% | 27.11 | 6.23 | 6.75% | -42.80% |
| MID-CAP | ||||||||
FRT | 7.6B | 1.1B | -2.20% | 0.81% | 19.53 | 6.84 | 8.31% | 38.10% |
KRG | 4.7B | 820.5M | 1.11% | 18.25% | 167.75 | 5.74 | 29.95% | 125.56% |
VNO | 4.3B | 1.8B | 8.98% | -6.64% | -11.49 | 2.34 | 5.60% | -286.96% |
MAC | 2.4B | 866.2M | 3.43% | 32.37% | -27.99 | 2.82 | 0.51% | -335.26% |
| SMALL-CAP | ||||||||
SLG | 2.4B | 882.0M | 14.11% | -6.27% | -5.46 | 2.74 | 11.76% | -239.94% |
SKT | 2.4B | 426.3M | -1.62% | 51.64% | 25.05 | 5.56 | 1.38% | 137.97% |
PGRE | 1.0B | 732.3M | - | -27.89% | -12.06 | 1.4 | -0.03% | -4012.90% |
AIV | 1.0B | 339.3M | -10.86% | -15.80% | -5.75 | 2.99 | 88.48% | -168.70% |
Essex Property Trust News
Returns for ESS
Cumulative Returns on ESS
6.7%
10-Year Cumulative Returns
1.9%
7-Year Cumulative Returns
0.2%
5-Year Cumulative Returns
4.8%
3-Year Cumulative Returns
Risks for ESS
What is the probability of a big loss on ESS?
50.8%
Probability that Essex Property Trust stock will be more than 20% underwater in next one year
37.3%
Probability that Essex Property Trust stock will be more than 30% underwater in next one year.
20%
Probability that Essex Property Trust stock will be more than 40% underwater in next one year.
*Calculated based on probability distribution of losses observed in actual data in the last 5 years.
How does ESS drawdown profile look like?
Y-axis is the maximum loss one would have experienced if Essex Property Trust was unfortunately bought at previous high price.
Drawdowns
Financials for Essex Property Trust
Income Statement (Last 12 Months)(In Millions)
| Income Statement (Last 12 Months) | (In Millions) | |||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Description | (%) Q/Q | 2023Q2 | 2023Q1 | 2022Q4 | 2022Q3 | 2022Q2 | 2022Q1 | 2021Q4 | 2021Q3 | 2021Q2 | 2021Q1 | 2020Q4 | 2020Q3 | 2020Q2 | 2020Q1 | 2019Q4 | 2019Q3 | 2019Q2 | 2019Q1 | 2018Q4 | 2018Q3 | 2018Q2 |
| Revenue | 1.0% | 1,653 | 1,637 | 1,607 | 1,563 | 1,516 | 1,467 | 1,441 | 1,431 | 1,439 | 1,459 | 1,496 | 1,509 | 1,505 | 1,496 | 1,460 | 1,438 | 1,422 | 1,409 | 1,400 | 1,392 | 1,385 |
| Costs and Expenses | 0.9% | 1,128 | 1,118 | 1,106 | 1,095 | 1,082 | 1,068 | 1,054 | 1,059 | 1,056 | 1,066 | 1,069 | 1,049 | 1,027 | 997 | 976 | 964 | 958 | 954 | 950 | 939 | 934 |
| S&GA Expenses | 1.2% | 60.00 | 60.00 | 57.00 | 58.00 | 55.00 | 54.00 | 52.00 | 58.00 | 58.00 | 61.00 | 65.00 | 58.00 | 56.00 | 55.00 | 54.00 | 56.00 | 55.00 | 52.00 | 53.00 | 47.00 | 46.00 |
| EBITDA | - | - | - | - | - | - | - | 857 | 860 | 866 | 874 | 880 | 872 | 862 | 848 | 835 | 832 | 833 | 835 | - | - | - |
| EBITDA Margin | - | - | - | - | - | - | - | 0.60* | 0.60* | 0.60* | 0.60* | 0.59* | 0.58* | 0.57* | 0.57* | 0.57* | 0.58* | 0.59* | 0.59* | - | - | - |
| Interest Expenses | 1.0% | 208 | 205 | 205 | 203 | 201 | 202 | 203 | 208 | 214 | 217 | 221 | 220 | 219 | 219 | 217 | 217 | 217 | 219 | 220 | 222 | 223 |
| EBT Margin | - | - | - | - | - | - | - | 0.09* | 0.09* | 0.09* | 0.09* | 0.09* | 0.09* | 0.09* | 0.09* | 0.09* | 0.09* | 0.09* | 0.10* | - | - | - |
| Net Income | 8.5% | 560 | 516 | 433 | 383 | 409 | 417 | 516 | 473 | 427 | 448 | 599 | 633 | 660 | 668 | 464 | 454 | 434 | 442 | 414 | 399 | 398 |
| Net Income Margin | -100.0% | - | 0.32* | 0.27* | 0.24* | 0.27* | 0.28* | 0.36* | 0.33* | 0.30* | 0.31* | 0.40* | 0.42* | 0.44* | 0.45* | 0.32* | - | - | - | - | - | - |
| Free Cashflow | -100.0% | - | 937 | 976 | 1,014 | 987 | 1,025 | 905 | 850 | 805 | 731 | 803 | 866 | 915 | 930 | 919 | - | - | - | - | - | - |
Balance Sheet(In Millions)
| Balance Sheet | (In Millions) | |||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Description | (%) Q/Q | 2023Q2 | 2023Q1 | 2022Q4 | 2022Q3 | 2022Q2 | 2022Q1 | 2021Q4 | 2021Q3 | 2021Q2 | 2021Q1 | 2020Q4 | 2020Q3 | 2020Q2 | 2020Q1 | 2019Q4 | 2019Q3 | 2019Q2 | 2019Q1 | 2018Q4 | 2018Q3 | 2018Q2 |
| Assets | -0.3% | 12,245 | 12,280 | 12,373 | 12,624 | 12,558 | 12,770 | 12,998 | 12,789 | 12,747 | 12,790 | 12,936 | 13,401 | 13,177 | 13,451 | 12,705 | 12,998 | 12,671 | 12,578 | 12,384 | 12,518 | 12,556 |
| Cash Equivalents | -10.0% | 61.00 | 68.00 | 33.00 | 43.00 | 38.00 | 98.00 | 48.00 | 50.00 | 48.00 | 103 | 74.00 | 558 | 246 | 272 | 81.00 | 74.00 | 38.00 | 107 | 151 | 157 | 161 |
| Liabilities | 0.0% | 6,452 | 6,453 | 6,451 | 6,714 | 6,518 | 6,592 | 6,787 | 6,624 | 6,575 | 6,543 | 6,721 | 7,103 | 6,791 | 7,000 | 6,264 | 6,544 | 6,289 | 6,224 | 5,954 | 6,045 | 6,045 |
| Shareholder's Equity | -3.6% | 5,585 | 5,797 | 5,716 | 5,703 | 6,007 | 6,138 | 6,177 | 6,132 | 6,137 | 6,211 | 6,183 | 6,267 | 6,353 | 6,418 | 6,404 | 6,415 | 6,345 | 6,317 | 6,394 | 6,436 | 6,475 |
| Additional Paid-In Capital | 0.0% | 6,657 | 6,657 | 6,750 | 6,776 | 6,876 | 6,930 | 6,916 | 6,876 | 6,863 | 6,864 | 6,876 | 6,922 | 6,945 | 6,960 | 7,122 | 7,132 | 7,032 | 7,028 | 7,093 | 7,134 | 7,132 |
| Shares Outstanding | 0.0% | 64.00 | 64.00 | 65.00 | 65.00 | 65.00 | 65.00 | 65.00 | 65.00 | 65.00 | 65.00 | 65.00 | 65.00 | 65.00 | 66.00 | 66.00 | 66.00 | 66.00 | 66.00 | 66.00 | 66.00 | 66.00 |
| Minority Interest | -0.8% | 177 | 178 | 179 | 178 | 179 | 181 | 183 | 183 | 183 | 186 | 183 | 184 | 187 | 190 | 183 | 190 | 190 | 126 | 127 | 119 | 120 |
Cashflow (Last 12 Months)(In Millions)
| Cashflow (Last 12 Months) | (In Millions) | |||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Description | (%) Q/Q | 2023Q2 | 2023Q1 | 2022Q4 | 2022Q3 | 2022Q2 | 2022Q1 | 2021Q4 | 2021Q3 | 2021Q2 | 2021Q1 | 2020Q4 | 2020Q3 | 2020Q2 | 2020Q1 | 2019Q4 | 2019Q3 | 2019Q2 | 2019Q1 | 2018Q4 | 2018Q3 | 2018Q2 |
| Cashflow From Operations | 1.8% | 954 | 937 | 976 | 1,014 | 987 | 1,025 | 905 | 850 | 805 | 731 | 803 | 866 | 915 | 930 | 919 | 852 | 833 | 814 | 827 | 827 | 821 |
| Share Based Compensation | -9.7% | 6.00 | 7.00 | 7.00 | 8.00 | 8.00 | 8.00 | 7.00 | 9.00 | 8.00 | 8.00 | 8.00 | 5.00 | 6.00 | 6.00 | 7.00 | 7.00 | 7.00 | 7.00 | 7.00 | 12.00 | 12.00 |
| Cashflow From Investing | -89.7% | 10.00 | 95.00 | 146 | -371 | -290 | -438 | -397 | -210 | -134 | 176 | -416 | -125 | -484 | -754 | -527 | -628 | -332 | -180 | -59.89 | -218 | -363 |
| Cashflow From Financing | 11.3% | -943 | -1,064 | -1,137 | -649 | -706 | -591 | -533 | -1,147 | -868 | -1,076 | -383 | -262 | -229 | -17.94 | -461 | -306 | -623 | -648 | -676 | -497 | -479 |
| Buy Backs | -21.3% | 225 | 285 | 190 | 158 | 61.00 | - | 9.00 | 55.00 | 82.00 | 102 | 269 | 223 | 196 | 176 | 57.00 | 104 | 104 | 104 | 51.00 | 4.00 | 4.00 |
ESS Income Statement
2023-06-30EPT - Condensed Consolidated Statements of Income and Comprehensive Income (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
|---|---|---|---|---|
Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | |
| Revenues: | ||||
| Rental and other property | $ 413,265 | $ 397,240 | $ 822,921 | $ 776,456 |
| Management and other fees from affiliates | 2,778 | 2,738 | 5,543 | 5,427 |
| Revenues | 416,043 | 399,978 | 828,464 | 781,883 |
| Expenses: | ||||
| Property operating, excluding real estate taxes | 73,843 | 69,761 | 147,725 | 138,619 |
| Real estate taxes | 45,381 | 43,759 | 91,911 | 91,001 |
| Corporate-level property management expenses | 11,451 | 10,176 | 22,883 | 20,348 |
| Depreciation and amortization | 136,718 | 134,517 | 273,065 | 268,050 |
| General and administrative | 13,813 | 13,127 | 29,124 | 25,369 |
| Expensed acquisition and investment related costs | 5 | 10 | 344 | 18 |
| Casualty loss | 0 | 0 | 433 | 0 |
| Total expenses | 281,211 | 271,350 | 565,485 | 543,405 |
| Gain on sale of real estate and land | 0 | 0 | 59,238 | 0 |
| Earnings from operations | 134,832 | 128,628 | 322,217 | 238,478 |
| Interest expense | (52,600) | (50,477) | (103,645) | (100,854) |
| Total return swap income | 821 | 2,283 | 1,854 | 4,827 |
| Interest and other income (loss) | 12,199 | (17,208) | 24,649 | (24,775) |
| Equity income (loss) from co-investments | 12,237 | (8,400) | 23,108 | 12,771 |
| Deferred tax (expense) benefit on unconsolidated co-investments | (1,733) | 6,864 | (833) | 9,618 |
| Net income | 105,756 | 61,690 | 267,350 | 140,065 |
| Net income attributable to noncontrolling interest | (6,136) | (4,636) | (14,198) | (9,757) |
| Net income available to common stockholders | 99,620 | 57,054 | 253,152 | 130,308 |
| Comprehensive income | 121,142 | 73,400 | 272,442 | 172,256 |
| Comprehensive income attributable to noncontrolling interest | (6,659) | (5,029) | (14,371) | (10,842) |
| Comprehensive income attributable to controlling interest | $ 114,483 | $ 68,371 | $ 258,071 | $ 161,414 |
| Basic: | ||||
| Net income available to common stockholders (in dollars per share) | $ 1.55 | $ 0.87 | $ 3.94 | $ 2.00 |
| Weighted average number of shares outstanding during the period (in shares) | 64,182,555 | 65,262,517 | 64,319,783 | 65,269,109 |
| Diluted: | ||||
| Net income available to common stockholders (in dollars per share) | $ 1.55 | $ 0.87 | $ 3.94 | $ 2.00 |
| Weighted average number of shares outstanding during the period (in shares) | 64,183,675 | 65,289,603 | 64,320,898 | 65,307,572 |
ESS Balance Sheet
2023-06-30EPT - Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands | Jun. 30, 2023 | Dec. 31, 2022 |
|---|---|---|
| Rental properties: | ||
| Land and land improvements | $ 3,036,912 | $ 3,043,321 |
| Buildings and improvements | 12,984,143 | 12,922,906 |
| Total rental properties | 16,021,055 | 15,966,227 |
| Less: accumulated depreciation | (5,390,935) | (5,152,133) |
| Net real estate | 10,630,120 | 10,814,094 |
| Real estate under development | 22,668 | 24,857 |
| Co-investments | 1,122,114 | 1,127,491 |
| Total real estate | 11,774,902 | 11,966,442 |
| Cash and cash equivalents-unrestricted | 60,949 | 33,295 |
| Cash and cash equivalents-restricted | 8,165 | 9,386 |
| Marketable securities, net of allowance for credit losses of zero as of both June 30, 2023 and December 31, 2022 | 102,131 | 112,743 |
| Notes and other receivables, net of allowance for credit losses of $0.6 million and $0.3 million as of June 30, 2023 and December 31, 2022, respectively (includes related party receivables of $6.1 million and $7.0 million as of June 30, 2023 and December 31, 2022, respectively) | 150,464 | 103,045 |
| Operating lease right-of-use assets | 65,505 | 67,239 |
| Prepaid expenses and other assets | 83,157 | 80,755 |
| Total assets | 12,245,273 | 12,372,905 |
| LIABILITIES AND EQUITY | ||
| Unsecured debt, net | 5,315,336 | 5,312,168 |
| Mortgage notes payable, net | 592,143 | 593,943 |
| Lines of credit | 34,429 | 52,073 |
| Accounts payable and accrued liabilities | 172,946 | 165,461 |
| Construction payable | 22,089 | 23,159 |
| Dividends payable | 155,739 | 149,166 |
| Distributions in excess of investments in co-investments | 47,934 | 42,532 |
| Operating lease liabilities | 66,857 | 68,696 |
| Other liabilities | 44,440 | 43,441 |
| Total liabilities | 6,451,913 | 6,450,639 |
| Commitments and contingencies | ||
| Redeemable noncontrolling interest | 31,355 | 27,150 |
| Equity: | ||
| Common stock; $0.0001 par value, 670,000,000 shares authorized; 64,183,304 and 64,604,603 shares issued and outstanding, respectively | 6 | 6 |
| Additional paid-in capital | 6,657,481 | 6,750,076 |
| Distributions in excess of accumulated earnings | (1,123,594) | (1,080,176) |
| Accumulated other comprehensive income, net | 51,385 | 46,466 |
| Total stockholders' equity | 5,585,278 | 5,716,372 |
| Noncontrolling interest | 176,727 | 178,744 |
| Total equity | 5,762,005 | 5,895,116 |
| Total liabilities and equity | $ 12,245,273 | $ 12,372,905 |
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 246 apartment communities comprising approximately 60,000 apartment homes with an additional 6 properties in various stages of active development.