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Essex Property Trust Inc Stock Research

ESS

210.38USD+3.56(+1.72%)Market Closed

Market Summary

USD210.38+3.56
Market Closed
1.72%

ESS Alerts

ESS Stock Price

ESS RSI Chart

ESS Valuation

Market Cap

13.5B

Price/Earnings (Trailing)

26.16

Price/Sales (Trailing)

8.25

Price/Free Cashflow

14.4

ESS Price/Sales (Trailing)

ESS Profitability

Return on Equity

7.57%

Return on Assets

3.5%

Free Cashflow Yield

6.94%

ESS Fundamentals

ESS Revenue

Revenue (TTM)

1.6B

Revenue Y/Y

7.99%

Revenue Q/Q

-0.67%

ESS Earnings

Earnings (TTM)

516.2M

Earnings Y/Y

106.18%

Earnings Q/Q

-16.8%

Price Action

52 Week Range

195.03297.63
(Low)(High)

Last 7 days

0.3%

Last 30 days

2.1%

Last 90 days

-8.3%

Trailing 12 Months

-24.4%

ESS Financial Health

Debt/Equity

1.05

Debt/Cashflow

0.16

ESS Investor Care

Dividend Yield

4.24%

Dividend/Share (TTM)

8.91

Buy Backs (1Y)

1.68%

Diluted EPS (TTM)

7.53

Peers (Alternatives to Essex Property Trust)

View All Peers In Detail
NameMkt Capsorted ascendingRevenuePrice %, 1MReturns, 1YP/EP/SRev 1-YrInc 1-Yr
LARGE-CAP
50.3B
4.3B
-0.67% -7.84%
11.56
11.69
18.80% 113.99%
28.8B
4.9B
1.25% -24.57%
77.2
5.88
9.82% -73.28%
22.6B
2.0B
-1.01% -20.50%
24.61
11.43
-20.93% -31.79%
19.1B
2.7B
-6.88% -30.41%
25.48
7.14
18.91% 81.13%
13.2B
1.7B
-4.07% -25.83%
104.43
7.61
15.49% -81.09%
MID-CAP
7.1B
1.1B
-8.04% -21.25%
18.25
6.51
10.19% 46.60%
4.3B
814.4M
-2.26% -4.29%
465.69
5.23
63.41% 107.43%
2.6B
1.8B
-10.72% -60.29%
-6.95
1.42
9.23% -286.27%
2.0B
857.9M
-0.32% -17.87%
-23.05
2.35
-1.75% -315.36%
SMALL-CAP
2.1B
421.5M
12.31% 19.76%
23.93
5.05
1.34% 437.34%
1.4B
862.4M
-3.29% -61.71%
-11.46
1.67
7.01% -127.00%
1.2B
184.6M
6.32% 29.74%
12.67
6.33
2.55% 1950.56%
923.1M
745.2M
2.66% -52.44%
-24.26
1.24
2.17% -183.81%

Financials for Essex Property Trust

Income Statement (Last 12 Months)
(In Millions)
* denotes actual numbers (not divided by Millions)
Description(%) Q/Q2023Q12022Q42022Q32022Q22022Q1
Revenue1.9%1,6371,6071,5631,5161,467
  S&GA Expenses5.4%60.0057.0058.0055.0054.00
Costs and Expenses1.1%1,1181,1061,0951,0821,068
Interest Expenses0.3%205205203201202
Net Income19.2%516433383409417
Net Income Margin10.0%0.27*0.24*0.27*0.28*-
Free Cahsflow-3.8%9761,0149871,025-
Balance Sheet
(In Millions)
Description(%) Q/Q2023Q12022Q42022Q32022Q22022Q1
Assets-0.8%12,28012,37312,62412,55812,770
    Cash Equivalents103.4%68.0033.0043.0038.0098.00
Liabilities0.0%6,4536,4516,7146,5186,592
  Long Term Debt0.0%5,9855,9865,987--
Shareholder's Equity-1.7%5,6195,7165,7036,0076,138
  Additional Paid-In Capital-1.4%6,6576,7506,7766,8766,930
Shares Outstanding-0.7%64.0065.0065.0065.0065.00
Minority Interest-0.4%178179178179181
Cashflow (Last 12 Months)
(In Millions)
* denotes actual numbers (not divided by Millions)
Description(%) Q/Q2023Q12022Q42022Q32022Q22022Q1
Cashflow From Operations-3.9%9379761,0149871,025
  Share Based Compensation-4.5%7.007.008.008.008.00
Cashflow From Investing-34.6%95.00146-371-290-438
Cashflow From Financing6.4%-1,064-1,137-649-706-591
  Buy Backs50.4%28519015861.000.00

Risks for ESS

What is the probability of a big loss on ESS?

45%


Probability that Essex Property Trust stock will be more than 20% underwater in next one year

33.1%


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

Returns for ESS

Cumulative Returns on ESS

5.5%


10-Year Cumulative Returns

1.7%


7-Year Cumulative Returns

0.6%


5-Year Cumulative Returns

-2.7%


3-Year Cumulative Returns

What are the long-term rolling returns for ESS?

FIve years rolling returns for Essex Property Trust.

Annualized Returns

Which funds bought or sold ESS recently?

View All Details
Datesorted ascendingFund NameType% Chg$ Change$ Held% Portfolio
2023-05-23
Toroso Investments, LLC
reduced
-57.01
-1,445,000
1,064,000
0.02%
2023-05-23
Front Row Advisors LLC
added
46.38
6,000
21,000
0.01%
2023-05-22
AMERIPRISE FINANCIAL INC
added
25.72
27,778,000
141,548,000
0.05%
2023-05-18
NEW YORK STATE COMMON RETIREMENT FUND
reduced
-3.08
-748,000
16,430,000
0.02%
2023-05-18
JPMORGAN CHASE & CO
added
4.31
4,323,140
151,059,000
0.02%
2023-05-18
SkyView Investment Advisors, LLC
new
-
-
-
-%
2023-05-17
Chevy Chase Trust Holdings, LLC
added
0.8
-41,005
7,851,740
0.03%
2023-05-17
KB FINANCIAL PARTNERS, LLC
unchanged
-
-
1,000
-%
2023-05-17
Advisory Services Network, LLC
new
-
32,417
32,417
-%
2023-05-17
VIRGINIA RETIREMENT SYSTEMS ET AL
reduced
-24.57
-4,760,910
9,237,800
0.10%

1–10 of 41

Latest Funds Activity

Are funds buying ESS calls or puts?
Calls
Puts
Are funds bullish or bearish(Calls - Puts)?
Net Call Options
No. of funds that own ESS
No. of Funds

Essex Property Trust News

MarketBeat
Davis Selected Advisers Purchases 8870 Shares of Essex Property ....
MarketBeat,
18 minutes ago
Stockhouse Publishing
Business Wire

Schedule 13G FIlings of Essex Property Trust

Date FiledName of FilerPercent of ClassNo. of SharesForm 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

ESS Fair Value

Essex Property Trust fair value in different scenarios

The table shows the Fair Value estimates for Essex Property Trust for various scenarios. Disclaimer: These are just estimations from a model. None of the models are good at predicting the future. Please dont buy or sell stocks based on these outputs.
Fair ValueVery PessimisticPessimisticBase CaseOptimisticVery Optimistic
Very Low Inflation

87.33

-58.49%

114.70

-45.48%

155.81

-25.94%

190.38

-9.51%

220.38

4.75%
Current Inflation

82.45

-60.81%

106.23

-49.51%

140.67

-33.14%

169.56

-19.40%

194.57

-7.51%
Very High Inflation

76.33

-63.72%

95.88

-54.43%

122.77

-41.64%

145.33

-30.92%

164.80

-21.67%

Historical Essex Property Trust Fair Value Estimates


Very Pessimistic Case
Pessimistic Case
Fair Value
Optimistic Case
Very Optimistic Case
Closing Stock Price

Recent SEC filings of Essex Property Trust

View All Filings
Date Filed Form Type Document
May 17, 2023
4/A
Insider Trading
May 11, 2023
4
Insider Trading
May 11, 2023
4
Insider Trading
May 11, 2023
4
Insider Trading
May 11, 2023
4
Insider Trading
May 11, 2023
4
Insider Trading
May 11, 2023
4
Insider Trading
May 11, 2023
4
Insider Trading
May 11, 2023
4
Insider Trading
May 11, 2023
8-K
Current Report

Latest Insider Trading transactions for ESS

Filter Transactions
Datesorted ascendingNameBuy/Sell$ ValueAvg. Price# SharesTitle
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

1–10 of 50

Michael J. Schall
1760
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.

ESS Income Statement

2023-03-31
EPT - Condensed Consolidated Statements of Income and Comprehensive Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Revenues:  
Rental and other property$ 409,656$ 379,216
Management and other fees from affiliates2,7652,689
Revenues412,421381,905
Expenses:  
Property operating, excluding real estate taxes73,88268,858
Real estate taxes46,53047,242
Corporate-level property management expenses11,43210,172
Depreciation and amortization136,347133,533
General and administrative15,31112,242
Expensed acquisition and investment related costs3398
Casualty loss4330
Total expenses284,274272,055
Gain on sale of real estate and land59,2380
Earnings from operations187,385109,850
Interest expense(51,045)(50,377)
Total return swap income1,0332,544
Interest and other income (loss)12,450(7,567)
Equity income from co-investments10,87121,171
Deferred tax benefit on unconsolidated co-investments9002,754
Net income161,59478,375
Net income attributable to noncontrolling interest(8,062)(5,121)
Net income available to common stockholders153,53273,254
Comprehensive income151,30098,856
Comprehensive income attributable to noncontrolling interest(7,712)(5,813)
Comprehensive income attributable to controlling interest$ 143,588$ 93,043
Basic:  
Net income available to common stockholders (in dollars per share)$ 2.38$ 1.12
Weighted average number of shares outstanding during the period (in shares)64,458,53565,275,775
Diluted:  
Net income available to common stockholders (in dollars per share)$ 2.38$ 1.12
Weighted average number of shares outstanding during the period (in shares)64,459,68965,339,378

ESS Balance Sheet

2023-03-31
EPT - Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Thousands
Mar. 31, 2023
Dec. 31, 2022
Rental properties:  
Land and land improvements$ 3,031,415$ 3,043,321
Buildings and improvements12,910,49212,922,906
Total rental properties15,941,90715,966,227
Less: accumulated depreciation(5,254,874)(5,152,133)
Net real estate10,687,03310,814,094
Real estate under development21,90924,857
Co-investments1,131,1831,127,491
Total real estate11,840,12511,966,442
Cash and cash equivalents-unrestricted67,71233,295
Cash and cash equivalents-restricted9,4469,386
Marketable securities, net of allowance for credit losses of zero as of both March 31, 2023 and December 31, 2022107,002112,743
Notes and other receivables, net of allowance for credit losses of $0.4 million and $0.3 million as of March 31, 2023 and December 31, 2022, respectively (includes related party receivables of $6.9 million and $7.0 million as of March 31, 2023 and December 31, 2022, respectively)120,586103,045
Operating lease right-of-use assets66,37367,239
Prepaid expenses and other assets68,53080,755
Total assets12,279,77412,372,905
LIABILITIES AND EQUITY  
Unsecured debt, net5,313,7015,312,168
Mortgage notes payable, net593,147593,943
Lines of credit45752,073
Accounts payable and accrued liabilities208,072165,461
Construction payable19,81023,159
Dividends payable155,720149,166
Distributions in excess of investments in co-investments50,30942,532
Operating lease liabilities67,77268,696
Other liabilities43,72143,441
Total liabilities6,452,7096,450,639
Commitments and contingencies
Redeemable noncontrolling interest30,20827,150
Equity:  
Common stock; $0.0001 par value, 670,000,000 shares authorized; 64,181,614 and 64,604,603 shares issued and outstanding, respectively66
Additional paid-in capital6,657,1836,750,076
Distributions in excess of accumulated earnings(1,074,930)(1,080,176)
Accumulated other comprehensive income, net36,52246,466
Total stockholders' equity5,618,7815,716,372
Noncontrolling interest178,076178,744
Total equity5,796,8575,895,116
Total liabilities and equity$ 12,279,774$ 12,372,905