Essex Property Trust Acquires Joint Venture Partner's Interest in Four Communities Comprising 1,480 Apartment Homes [Yahoo! Finance]
Essex Property Trust, Inc. (ESS)
Last essex property trust, inc. earnings: 1/29 04:15 pm
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Source: Yahoo! Finance
49.9% interest in the BEXAEW portfolio for a total purchase price of $505.0 million on a gross basis. The seller's cap rate is approximately 5.25%; however, after incorporating additional economic benefits by fully integrating this portfolio into our operating platform, we estimate a 5.9% year-one yield. Concurrent with closing, the Company repaid $219.9 million of debt encumbering the properties and consolidated the communities on the Company's financials. The portfolio is comprised of four properties totaling 1,480 apartment homes. The portfolio generated an 11.4% IRR and the Company will recognize approximately $1.5 million in promote income, which will be excluded from Core FFO. About Essex Property Trust, Inc. 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 252 a
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News
- Essex Property Trust, Inc. (NYSE: ESS) was downgraded by analysts at StockNews.com from a "hold" rating to a "sell" rating.MarketBeat
- Essex Property Trust, Inc. (NYSE: ESS) had its price target lowered by analysts at Truist Financial Co. from $259.00 to $255.00. They now have a "hold" rating on the stock.MarketBeat
- Essex Property Trust, Inc. (NYSE: ESS) was upgraded by analysts at StockNews.com from a "sell" rating to a "hold" rating.MarketBeat
- Essex Announces Release and Conference Call Dates for Its First Quarter 2024 EarningsBusiness Wire
- Essex Property Trust: A Dividend Aristocrat Worth Buying Now [Seeking Alpha]Seeking Alpha
ESS
Earnings
- 2/6/24 - Beat
ESS
Sec Filings
- 3/28/24 - Form DEF
- 3/28/24 - Form DEFA14A
- 3/28/24 - Form ARS
- ESS's page on the SEC website