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0 -0.00105182926829272 -0.00213414634146342 -0.00289634146341482 -0.011890243902439 -0.00731707317073177 -0.00335365853658535 -0.00579268292682941
Stock impact report

Essex Property Trust: California Apartments Will Keep Going Up [Seeking Alpha]

Equity Residential Common Shares of Beneficial Interest (EQR) 
Last equity residential common shares of beneficial interest earnings: 1/28 04:16 pm Check Earnings Report
US:NYSE Investor Relations: investors.equityapartments.com
Company Research Source: Seeking Alpha
SummaryCalifornia apartment rents benefit from an unusual structural backdrop.ESS has a strong balance sheet with minimal near-term debt maturities.ESS isn’t the cheapest stock in the market, but given its long-term growth profile, I rate it a buy.Essex Property Trust (NYSE:California Residential ESS is the only publicly traded apartment REIT focused on the West Coast. 83% of NOI comes from California, which I believe to be a good thing:2020 PresentationCompared to peers, ESS has outperformed in terms of SS NOI growth, FFO growth, and dividend growth:(2020 Presentation)I believe that this has a lot to do with the favorable backdrop of California apartment real estate. It's hard to explain why real estate prices continue rising in California, but perhaps one reason is a shortage of supply, as can be evidenced by the lower amount of permits in California as compared to the rest of the nation:The net result is that, according to ESS, California homes are about three times as expensive as Show less Read more
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